分类: business

  • $20m overtime ‘unacceptable’

    $20m overtime ‘unacceptable’

    The Davis administration of the Bahamas has publicly acknowledged that Bahamas Power and Light (BPL), the country’s primary electricity provider, has been spending roughly $20 million annually on overtime costs. Following a internal review that uncovered irregular patterns and suspicious anomalies in overtime allocation practices, the administration has labeled the current spending levels as both unacceptable and financially unsustainable.

    This official confirmation comes on the heels of an exclusive investigative report by The Tribune, which obtained internal BPL records revealing that three senior staff members in the utility’s fuel and performance department collected a combined total of more than $600,000 in overtime payments between May 2025 and April 2026. The records, generated during a company-wide probe into overtime expenses, show that the three employees received between $20,000 and $25,000 in overtime pay every single month – sums that are multiple times larger than their annual base salaries.

    Despite the administration rolling out new regulatory measures intended to prevent similar extreme overspending from occurring in the future, key questions remain unanswered. It is still unclear which senior official authorized the excessive payments already issued, how the amounts were allowed to climb to such unprecedented levels, and whether any individual will face disciplinary action or accountability for the irregularities. The Tribune reached out to multiple senior BPL executives and board members for comment on the controversy; however, those who were available declined to speak on the record, while others failed to respond to repeated calls and messages as of press time.

    In an official statement, the government noted that any suspected misconduct will undergo a full investigation, and legal action will be taken against any party found to have engaged in wrongdoing, negligence, or failed oversight – regardless of whether the party involved is a frontline employee, manager, director, or other senior officer. At the same time, the administration emphasized that BPL will not pre-judge any individual or draw premature conclusions before all relevant facts are fully verified.

    The exposure of these excessive overtime payments has amplified public and regulatory scrutiny of BPL’s labor practices, and has sparked broader debate about the effectiveness of management oversight at the state-owned utility. Desmond Bannister, former Works Minister who oversaw BPL during the previous Minnis administration, attributed the crisis to deep-seated management failures and questioned whether the company possesses sufficient professional expertise to operate effectively.

    “There is no scenario where that level of overtime could accumulate at BPL if the organization did not have fundamental management challenges,” Bannister stated. He added that the sheer scale of the overspending also points to major shortcomings in BPL’s ability to maintain consistent, reliable operations. “If the company had the professional skills and workforce capacity it needed, this situation would never have arisen,” he said. Bannister acknowledged that minor overtime irregularities may have occurred during his time in office, but stressed that nothing approached the scale of the practices now being exposed.

    The Davis administration explained that it has spent several months working through BPL’s board and executive leadership to engage with key stakeholders, including the Bahamas Electrical Workers Union (BEWU) and the Bahamas Electrical Utility Managerial Union (BEMU), on the need to build a more transparent, accountable, and financially sustainable overtime system. Administration officials recognize that overtime is sometimes unavoidable: it is often needed to maintain reliable electricity service, respond to unexpected outages and emergencies, and protect public safety. Even so, they argue that an annual overtime bill nearing $20 million places an unreasonable financial strain on BPL’s budget, and ultimately passes that burden on to the Bahamian public.

    Officials clarified that the proposed reforms are not intended to block legitimate overtime or deny workers earned compensation that has been properly approved. Instead, the core goal is to ensure all overtime is truly necessary, fairly distributed across staff, formally authorized by appropriate leadership, and fully documented, while also cutting back on excessive working hours that create fatigue-related safety risks for employees, their coworkers, and the general public. The government emphasized that the review process is focused on strengthening BPL’s internal systems and protocols, not targeting individual employees, and that the primary responsibility for preventing future irregularities will rest with BPL’s management team moving forward. Managers and directors will be held accountable for properly authorizing, documenting, tracking, and reporting all overtime within their respective departments.

    The proposed overtime reforms have sparked fierce opposition from the BEWU, which has issued an official instruction to all its members to work only their scheduled regular hours and leave the workplace immediately once their shift ends. The union has also filed a formal trade dispute, arguing that the new regulations violate existing industrial agreements between the union and BPL. “We will not stand for these injustices,” the union said in a formal notice to its membership, repeating its directive for workers to perform “NORMAL WORKING HOURS ONLY” and “GO HOME” after their shifts conclude.

    The BEMU, which represents BPL’s middle management cohort, has also pushed back against narratives that place blame for the excessive overtime on rank-and-file workers. “Employees should not bear the public blame for overtime that was required, authorized, approved, monitored and paid through established management processes,” the union stated. While BEMU says it supports accountability, robust oversight, and responsible management, the organization argues that these principles must be applied equally at every level of the organization. BEMU also raised objections to the public release of sensitive personal employee information, insisting that such data must be handled in full compliance with existing privacy and data protection regulations.

    The managerial union further noted that BPL operates 24 hours a day, 365 days a year to provide an essential public service, meaning overtime is unavoidable in some scenarios to address emergencies, unexpected system failures, post-outage restoration work, scheduled maintenance, persistent staffing shortages, and other unplanned operational demands. When departments are chronically understaffed and employees have been forced to work consistent excessive overtime for months or even years, BEMU argues that the appropriate policy response is to address understaffing by reassessing overall staffing levels, workload distribution, and long-term manpower needs – not to blame frontline and managerial workers for systemic failures.

    The Davis administration says it recognizes the right of union leadership to voice opposition and raise concerns about the reforms, and that it will not speculate on the motives of union representatives who disagree with the changes. The administration says “constructive dialogue” with all stakeholders will continue, and that all legitimate concerns will be taken into consideration. At the same time, officials insist the government has a non-negotiable responsibility to protect workers, safeguard public funds, and ensure BPL operates safely, transparently, and in the best interests of the Bahamian people. The administration expects the reforms to be implemented consistently and fairly across all departments of BPL, and calls for full cooperation from management, employees, and union representatives throughout the rollout.

    The current dispute comes at a particularly challenging time for BPL, which has already faced widespread public criticism over repeated unplanned power outages and poor electricity service reliability across New Providence this summer. It also unfolds against a shifted operational landscape for the Bahamas’ electricity sector: the newly created Bahamas Grid Company (BGC) now manages New Providence’s transmission and distribution network, while BPL retains responsibility for power generation and continues to work alongside BGC. This split in responsibility has raised questions about what impact the BEWU’s work-to-rule action could have on post-outage power restoration efforts.

    BEWU President Kyle Wilson argues that the separation between BPL and BGC does not mean BPL employees are no longer involved in transmission and distribution work. He noted that a large share of the overtime paid to BPL employees comes from work the staff has done to assist BGC with its new responsibilities. Former minister Bannister also defended workers against being scapegoated for broader systemic operational failures, and criticized the Davis administration’s decision to terminate its agreement with Wärtsilä and bring in BGC, an organization he says had no prior experience operating transmission and distribution networks in the Bahamas.

    “So you have these minimal number of BPL workers who have to fill in on all these things,” Bannister explained. “These guys are going there, they’re doing their best in circumstances that are not good at all.” He added that management should have identified and addressed these issues long before the current controversy erupted. “They [workers] should not be scapegoats,” he said. “And if there was challenges, people who manage them ought to have known that a long time ago. It doesn’t come up overnight.”

  • David Collado promotes Dominican tourism in Philadelphia and Charlotte

    David Collado promotes Dominican tourism in Philadelphia and Charlotte

    The Dominican Republic is moving forward with an aggressive strategy to boost international visitor arrivals by expanding its flagship tourism promotion initiative, the “RD Road Show Around the World,” to two additional U.S. markets: Philadelphia and Charlotte. Tourism Minister David Collado made the announcement as part of the government’s ongoing push to strengthen the country’s position as a top global travel destination by directly engaging key industry stakeholders.

    The RD Road Show Around the World is specifically designed to connect Dominican tourism authorities with travel agents, tour operators, and airline executives from the world’s highest-potential source markets for Dominican travel. During promotional events in both new host cities, Collado outlined the country’s latest progress in expanding tourism infrastructure, highlighting ongoing hotel development projects in both well-established visitor hotspots and up-and-coming emerging destinations. He also emphasized that the Dominican government is making substantial public investments in upgrading public beaches and core transportation infrastructure, upgrades intended to improve visitor experiences and raise the country’s overall competitiveness in the crowded global tourism sector.

    Philadelphia is a returning stop for the road show, having previously hosted the promotional event in 2025, but Charlotte marks an entirely new market for the Dominican Ministry of Tourism. The selection of Charlotte was driven by two key factors: the city’s fast-growing Dominican diaspora community, which generates consistent family and cultural travel between the U.S. city and the Caribbean island, and recent expansions in direct air connectivity between Charlotte and the Dominican Republic that have made travel easier and more accessible for U.S. visitors.

    This expansion is a core component of Collado’s broader tourism diplomacy strategy, which prioritizes direct, in-person engagement with stakeholders in source markets rather than relying solely on remote marketing. The strategy gives industry professionals the opportunity to review the Dominican Republic’s newest tourism offerings, updated investment data, and latest national promotional campaigns firsthand, helping them better market the destination to their own customers.

    Since the initiative launched in 2025, the RD Road Show Around the World has already traveled to dozens of major cities across North America, Latin America, and Europe. In the United States, previous stops include Houston, Chicago, San Antonio, Orlando, Miami, New York, and New Jersey, in addition to the 2025 Philadelphia event. In Canada, the road show has visited Toronto and Montreal, while key European and Latin American stops include Madrid, Santiago de Chile, Buenos Aires, São Paulo, and Mexico City. The continued expansion of the initiative reflects the Dominican Republic’s commitment to growing its $10 billion-plus tourism sector, which accounts for nearly 18% of the country’s total GDP and supports hundreds of thousands of local jobs across hospitality, transportation, and retail.

  • Gasoline and Regular Diesel prices increase for August 15–21

    Gasoline and Regular Diesel prices increase for August 15–21

    The Dominican Republic’s Ministry of Industry, Commerce and MSMEs (MICM) made a key announcement on Friday afternoon outlining a weekly fuel price adjustment that will take effect from August 15 through August 21. Under the new pricing scheme, two widely consumed fuel grades, regular gasoline and regular diesel, will see a modest increase of RD$3 per gallon, while prices for premium gasoline, premium diesel, liquefied petroleum gas (LPG), and natural gas will hold steady at their current levels.

    Following the price hike, regular gasoline will be retailed at RD$307.50 per gallon across the country, and regular diesel will be priced at RD$259.80 per gallon. In an official press statement released alongside the announcement, MICM emphasized that even with this week’s adjustment, current fuel prices remain lower than the levels recorded before the government implemented its price stabilization policy. Back on June 13, the Dominican government rolled out a 90-day fuel price freeze as a core component of its national Anti-Crisis Plan, a policy designed to cushion the impact of global energy market volatility on household and business budgets.

    The targeted adjustment, which only affects lower-grade regular fuels while leaving premium products and residential energy sources like LPG and natural gas unchanged, reflects the government’s effort to balance shifting global energy costs with its commitment to long-term price stability through the Anti-Crisis Plan framework.

  • Tax reform, tourism records, and a new resort: What’s behind the North Coast’s Real Estate growth

    Tax reform, tourism records, and a new resort: What’s behind the North Coast’s Real Estate growth

    For decades, mainstream analysis of the Dominican Republic’s North Coast real estate sector has relied heavily on listed asking prices and developer marketing projections, rather than hard data from completed property transactions. Today, three interconnected shifts are reshaping the market simultaneously: a newly enacted cut to capital gains taxes, a record-breaking tourism boom, and a massive new luxury resort development under construction. Local brokerage transaction data now offers an early, on-the-ground look at how these changes are moving the needle for buyer activity.

  • NCCU rolls out new strategies to tackle loan delinquency and reward responsible borrowers

    NCCU rolls out new strategies to tackle loan delinquency and reward responsible borrowers

    The National Co-operative Credit Union (NCCU) has announced a pair of targeted reforms to its loan management framework, aiming to lift repayment rates while incentivizing consistent, responsible borrowing behavior among its member base. The first policy change, which received formal approval from voting members during the credit union’s 16th Annual General Meeting held on June 3, grants the institution authorization to publicly disclose the identities of members who persist in defaulting on their outstanding loan balances.

    Institution leadership has emphasized that this public disclosure step will not be implemented hastily. It will only be triggered after the credit union has exhausted all attempts to reach the borrower directly and negotiate a feasible, mutually acceptable repayment arrangement that resolves the delinquency.

    Acting NCCU Chief Executive Officer Suzanne Joseph-Piper noted that the organization acknowledges unforeseen financial hardships can impact any member at any time. She urged members who are already struggling to meet their repayment obligations to reach out to the credit union for support proactively, before their accounts fall into severe delinquency. Joseph-Piper also clarified the broader impact of persistent unpaid loans on the entire NCCU membership: when large volumes of loans go uncollected, the total pool of funds available for new lending to other members drops, alongside potential dividend payouts and planned investments to upgrade NCCU member services.

    Beyond the new policy on persistent default, NCCU has rolled out a series of internal changes to strengthen its collections process. The organization has upgraded its core collections technology, launched targeted support programs for members with overdue accounts, and restructured its internal Collections Department to boost both operational efficiency and the level of support offered to members navigating financial difficulty.

    Complementing these enforcement and operational changes, NCCU is also introducing a new Patronage Refund Programme that delivers direct financial rewards to members who consistently meet their loan repayment commitments on time. Eligible refund payments under the new program are scheduled to begin distribution in 2027, with the size of each member’s refund calculated based on the total amount of interest they have paid on their loans throughout the eligibility period.

    NCCU officials state the program is designed to encourage healthy, responsible financial management among the membership, while reinforcing the critical role that timely loan repayment plays in sustaining the credit union’s ability to serve all its members. The organization has reiterated its call for any members facing challenges with their loan obligations to open a line of communication with NCCU staff as early as possible to work out a solution.

  • Could BTL’s Speednet Acquisition Mean Savings for Customers?

    Could BTL’s Speednet Acquisition Mean Savings for Customers?

    In a proposed $80 million industry consolidation set to reshape Belize’s telecommunications sector, Belize Telemedia Limited (BTL) is pushing back against growing public skepticism, arguing that its planned acquisition of rival Speednet will deliver long-term benefits to consumers, including lower monthly rates and improved infrastructure. The deal has sparked fierce public debate since it was announced, with Belizean residents and industry stakeholders raising pointed questions about pricing transparency, competition risks, conflicts of interest, and the $80 million purchase price. Now, BTL’s leadership is making its case for consolidation, while industry watchdogs call for strict regulatory guardrails to protect consumers.

    Markhelm Lizarraga, chairman of BTL, argues that much of the public discourse has fixated on potential downsides while ignoring the core efficiencies a merged entity would unlock. “Because of the efficiencies that will come from market consolidation would allow for even a decrease in rates,” Lizarraga explained. “For example, there would be no more need for interconnection charges between BTL and Smart. Efficiencies will bring savings to consumers, increase dividends to shareholders, improve working conditions and benefits for workers.”

    Lizarraga’s core argument centers on the tiny size of Belize’s consumer market, which he says cannot sustain two fully parallel national telecom networks. Currently, both BTL and Speednet (which operates under the brand Smart) maintain duplicate infrastructure: separate cellular tower networks, independent national fiber optic cables, duplicated software systems, and parallel marketing and administrative teams. These overlapping costs, he insists, are ultimately passed on to consumers in the form of higher rates.

    “Picture this, we have a system that can do a million people. Our system only holding about two hundred and twenty-five thousand. Smart has one hundred thousand. Even after consolidation we’ll only be using thirty something percent capacity of our system,” Lizarraga noted. “Why have two systems? Consumers pay for it you know. Consumers pay for having two systems, two sets of fiber, and two sets of towers. Two sets of everything. All of these things make rate decreases difficult in this industry.”

    Critics of the deal have repeatedly raised alarms that the acquisition would create a harmful monopoly controlling nearly all of Belize’s telecom market, but BTL has pushed back against that claim, pointing to the existing Mobile Virtual Network Operator (MVNO) regulatory framework as a built-in guardrail for competition. Under the MVNO model, third-party businesses can sell telecom services to consumers using the existing infrastructure of the merged network, allowing for continued market competition without requiring new entrants to invest billions in building duplicate national networks from scratch. Lizarraga said BTL is still working with Belize’s Public Utilities Commission (PUC) to address competition concerns and confirm that the MVNO framework will be sufficient to prevent price gouging after the merger.

    “We still need feedback from the PUC about concerns regarding competition through MVNOs and other means of assuring the public that concerns about increasing costs or BTL taking advantage of them are unfounded,” he added.

    William Usher, vice chairman of the Belize Chamber of Commerce and Industry (BCCI), told reporters that the business community does not inherently oppose the merger, but stresses that strong regulatory protections are non-negotiable to deliver on BTL’s promised benefits. “I think from a business standpoint there are many things. A lot of what they are saying probably will be beneficial. That for me and for us at the Chamber that is really not the problem,” Usher explained. “The problem is the guardrails that needs to be in place. Without the guardrails that is where we will fall short of whatever positiveness they are proposing to do. It is just simply business. And you know that if the guardrails are in play, if it is going where it should go, that there are measures in place to deal with it.”

    For ordinary Belizean consumers, the core questions remain straightforward: Will the acquisition deliver on its promise of lower rates? Will service quality improve across the country? And will regulatory safeguards be strong enough to prevent the merged company from exploiting its market power to raise prices long-term? As the PUC continues its review of the proposed deal, those questions remain unanswered for the 325,000 existing BTL and Smart customers across Belize. This report was prepared by Paul Lopez for News Five.

  • Can BTL Afford the $80 Million Speednet Deal?

    Can BTL Afford the $80 Million Speednet Deal?

    A major debate has erupted in Belize’s telecommunications sector over Belize Telemedia Limited’s (BTL) proposed $80 million acquisition of rival provider Speednet, with the core question at the center of discussions being whether the regional telecom can actually afford the eight-figure deal.

    BTL’s leadership is standing firm behind the financial viability of the transaction, saying the acquisition’s numbers add up to a solid strategic investment for the company. In an interview with local reporters, BTL Chairman Markhelm Lizarraga laid out the company’s financial roadmap for the deal, confirming that the negotiated purchase price currently stands at $80 million, pending the results of final due diligence to close the transaction.

    According to Lizarraga, BTL projects it will fully pay off the cost of the acquisition in approximately 4.2 years. The repayment structure calls for interest-only payments during the first two years, followed by principal payments carrying a 4.5 percent interest rate for the remaining term. Lizarraga emphasized that this repayment timeline has not been pulled from thin air: three independent third-party bodies have conducted their own analyses and substantiated BTL’s financial projections.

    The key to making the deal work, Lizarraga explained, lies in cutting redundant operational costs across the two merged companies. By eliminating duplicated expenses, BTL expects to redirect those savings toward increased cash flow that will cover the acquisition costs. He added that the company also plans to leverage unused excess capacity already existing in BTL’s current network infrastructure to generate additional revenue without major new capital investments.

    When pressed about what would happen if BTL fails to meet its repayment obligations, Lizarraga dismissed the scenario as extremely unlikely. He noted that both BTL’s board of directors and executive management team hold formal fiduciary responsibilities to act in the company’s best financial interest, and the leadership would never move forward with a transaction that carried any meaningful risk of default.

    “We would not be doing it if we thought that there was the slightest chance that through efficiencies in the market place we would not be able to pay it back,” Lizarraga told reporters. “The board has a fiduciary responsibility to the company. The management has a fiduciary responsibility to the company, we take that seriously.”

    This report is based on a transcribed transcript of a local evening television news broadcast from Belize District, originally published on August 12, 2026.

  • Chairman Lizarraga Faces Integrity Questions Over Speednet Deal

    Chairman Lizarraga Faces Integrity Questions Over Speednet Deal

    As the proposed Speednet acquisition faces growing public and industry scrutiny, the chairman of Belize Telemedia Limited (BTL), former senator Markhelm Lizarraga, is facing the same calls for transparency and accountability he has long championed throughout his public and corporate career. The controversy has put Lizarraga’s professional integrity under the microscope, prompting a direct public defense of his actions and his leadership of the telecommunications firm.

    In comments delivered during an evening television broadcast, Lizarraga pushed back hard against questions raised about his role in the pending deal. He challenged critics to evaluate his tenure based on tangible operational results rather than unsubstantiated questions about his conduct.

    Lizarraga pointed to a sweeping five-year turnaround of BTL launched when he took the helm at the height of the COVID-19 pandemic, a period when Belize’s economy and business sector faced severe systemic disruption. When he assumed the chairmanship, he said, the company was in dire operational shape: its physical infrastructure was crumbling, its vehicle fleet was unusable, and it carried a heavy load of outstanding debt.

    Over the subsequent five years, Lizarraga emphasized, BTL’s leadership team completely rebuilt the company’s deteriorated facilities, replaced its aging, non-functional fleet, and delivered major network expansions across the country — all without taking on a single dollar of new borrowed capital. Not only did the turnaround avoid new debt, he noted, the company fully paid off all outstanding debt it inherited from previous leadership. Beyond operational improvements, Lizarraga added, BTL has also fulfilled its financial obligations to the Belizean government, paying out $20 million in outstanding dividends to the state under his leadership.

    “People will judge me by the work we have done and the results we have delivered,” Lizarraga said. “I have faced criticism from strong opponents before, and that is fine. I hope the public will ultimately see the benefits of what we are working to build.”

    This report is adapted from a verbatim transcript of a televised evening news broadcast, with any Kriol-language commentary transcribed using a standardized spelling system for accuracy.

  • MSME Road Show Opens with Business Boot Camp for Entrepreneurs

    MSME Road Show Opens with Business Boot Camp for Entrepreneurs

    Micro, small, and medium-sized enterprise (MSME) owners across Belize face a common, persistent barrier to success: even with strong products, many lack the specialized skills needed to market their offerings, manage finances, adopt digital tools, and break into international markets. To address this critical gap, the Belize Trade and Investment Development Service (BELTRAIDE) kicked off the Belize City leg of its third annual National MSME Road Show on August 12, 2026, at the city’s Civic Center. The three-day initiative opens with an immersive business boot camp focused on high-demand skills curated directly from feedback from the local entrepreneur community.

    The boot camp’s core curriculum covers four high-priority areas: e-commerce onboarding, digital marketing strategy, financial literacy, and export fundamentals. Jorge Gentle, manager of BELTRAIDE’s Small Businesses Development Center, explained that every topic was selected intentionally, rather than at random, drawing on years of participant feedback and industry trend analysis. “After every training session we host, we collect evaluations from attendees and review their recommended topic requests,” Gentle noted. “We also prioritize emerging trends that are reshaping small business operations, which is why introduction to e-commerce takes a central spot. Many entrepreneurs have also repeatedly expressed curiosity and demand for guidance on exporting, so we built that into the agenda. And financial literacy through accounting training is non-negotiable for sustainable growth.”

    Beyond skills training, the event includes practical policy and regulatory updates from key government bodies. On the first day, representatives from the Ministry of Rural Transformation delivered a briefing on Belize’s trade license framework, while staff from the Belize Tax Service shared clear, accessible guidance on tax obligations for small businesses. These sessions are designed to walk entrepreneurs step-by-step through business registration, outline core requirements and processes, and connect them directly to available government support.

    This year’s road show includes a key new adjustment to expand reach: BELTRAIDE has coordinated closely with local municipal authorities to align the event with existing community commercial activities. In Belize City, the road show’s expo day on Saturday will run in tandem with the Belize City Council’s popular Super Sale event on Albert Street, a move organizers expect to draw far more foot traffic and visibility for participating small businesses.

    Interest in the 2026 initiative has already surpassed expectations. As of the event’s opening, nearly 600 businesses have pre-registered for activities, and organizers project that more than 1,200 entrepreneurs will participate in the three days of programming across all city legs held so far this year. Following the boot camp, the road show will continue with a dedicated business formalization clinic, where entrepreneurs can meet one-on-one with representatives from government agencies, financial institutions, and business support organizations to address individual barriers to growth and formalization.

  • Sinckler: Caribbean could be investment hub

    Sinckler: Caribbean could be investment hub

    Against a backdrop of uneven global foreign direct investment (FDI) flows to developing economies, Barbados’ Senior Minister and Minister of Foreign Affairs and Foreign Trade Chris Sinckler has issued a bold call to international investors on Wednesday, challenging long-held misconceptions that frame the Caribbean as a fragmented collection of small, high-risk markets. Instead, he positioned the region as a cohesive, stable, and innovation-driven economic hub primed to deliver strong commercial returns across sectors aligned with pressing global priorities.

    In his address to a gathering of diplomats, C-suite business leaders, and cross-sector global stakeholders, Sinckler pushed back against the pervasive narrative that Caribbean nations sit on the margins of the global economy, waiting for incremental scraps of development. “The truth is that nothing could be further from the truth,” he stated. “Our region is a stable, connected, and increasingly innovative geopolitical and economic space that offers commercially sound opportunities in sectors that are top global priorities.”

    Key high-growth areas Sinckler highlighted include renewable energy, digital technology, modern logistics infrastructure, climate resilience infrastructure, and food security systems – all sectors that have seen rising global investor appetite amid efforts to decarbonize economies and strengthen global supply chains.

    Central to Sinckler’s pitch is the upcoming high-level regional investment forum hosted by Barbados this October, themed “Invest, Innovate, and Accelerate.” The event is designed to connect global capital with regional opportunities, and build a unified regional investment strategy that can capture a larger share of global FDI.

    Citing recent international trade data, Sinckler noted that total global FDI rose 6% to $1.6 trillion in 2025, but flows to developing countries – including Caribbean nations – grew by just 2% over the same period. This divergence, he explained, reflects a clear trend: global capital is increasingly selective, flowing only to jurisdictions that demonstrate preparedness, credibility, and the capacity to deliver on investment projects. “We must ensure our regional assets are positioned to secure a far larger proportion of that capital,” he emphasized.

    To unlock this potential, Sinckler called for urgent systemic reforms across the region’s public and private sectors, targeting persistent administrative bottlenecks and outdated institutional rigidity that he described as one of the biggest constraints on regional investment growth. From customs clearance and port facilitation to tax policy, transportation, banking, and access to finance, he argued that inflexible operational procedures have held the region back from realizing its full investment potential. “We continue to shoot ourselves in the foot if we fail to harness and unleash the hidden capacity that exists in this region,” he said.

    Sinckler also stressed that regional policymaking must shift toward a more empirical, data-driven model, leveraging emerging technologies such as artificial intelligence to deliver the transparency, speed, and regulatory stability that international investors require.

    To back his argument, Sinckler pointed to Barbados’ own track record of successful structural reform, which has built sustained investor confidence. The country has logged 22 consecutive quarters of economic expansion, cut unemployment to 6.1%, and grown international reserves to $3.1 billion – enough to cover nearly 26 weeks of imports. The island nation has also delivered major public infrastructure investments to reduce trade frictions, including the recently completed $213.5 million Berth 6 project at Bridgetown Port, which is set to boost shipping and logistics capacity across the entire Caribbean.

    Barbados has also advanced digital financial inclusion with the launch of BiMPay, its national instant payment platform. By integrating commercial banks and credit unions onto a single network, the system lowers transaction costs and speeds up cash flow for micro, small, and medium-sized enterprises – the backbone of the Caribbean’s domestic economy.

    “Barbados is ready because we have done the heavy lifting in the past few years in rebuilding the foundations of our economy on which investment depends,” Sinckler said. “We have restored economic stability, modernised legislation, upgraded infrastructure, and fast-tracked cutting-edge digital technology.”

    He also paid tribute to Dr Lynette Holder, outgoing chair of the Caribbean Export Development Agency, for her leadership in developing the regional forum into the Caribbean’s leading investment matchmaking platform. Dr Damie Sinanan, the agency’s executive director, and Ambassador Fiona Ramsey of the European Union Delegation to Barbados and the Eastern Caribbean also participated in the event.

    Sinckler closed by urging global entrepreneurs and business leaders to take full advantage of the forum’s business-to-business matchmaking sessions, framing the gathering as a critical catalyst to turn innovative ideas into tangible, revenue-generating projects. “Our investment proposition must include not only what can be built in the Caribbean, but the assets that Caribbean people can use to build things for the world,” he said. “Barbados is open for business. We welcome investors to come, innovate with us, grow with us, and build a prosperous future together.”