Business
Trinidadian businesses investing heavily in Barbados
According to the VEMCO top executive: “We know things are not very buoyant now but, Barbados over the years has shown itself resilient and it is a disciplined place.”
But despite the obvious benefits to the economy of investment by the island’s oil-rich neighbour, some citizens of Barbados are not happy about the growing Trinidadian money influence.
As Kay-rani Rosita wrote on The Nation’s Facebook page last week following Mouttet’s announcement: “You are happy to be the tenant as opposed to being the landlord in your own country? No! It is not very good news for Barbados.
If Barbados owned much in Trinidad then that would indeed be good news. You’re supposed to own the lion’s share in your own country with others owning a minority share, if at all.”
Pan Wallie wrote: “For God’s sake, Dr DeLisle Worrell, how far away is Trinidad and Tobago from owning Barbados?”
Frank Husbands countered: “This is a blessing for Barbados. Despite the foolish talk coming from some quarters about T&T owning everything now in Barbados, we in Barbados must understand the need to be aligned with our neighbor – an oil-rich economy.”
Even Sharon Christopher, deputy CEO of First Citizens, admitted recently that there was a degree of anti-Trinidad sentiment in Barbados, while assessing that this was likely to be one of the key challenges it would face if the Trinidadian bank got regulatory approval for the Butterfield Bank buyout.
