Barbados Investment & Development Corporation Names Anthony J. Sobers Chief Executive Officer
NEW YORK, N.Y. CaribPRNewswire – Anthony J. Sobers, newly appointed Chief Executive Officer of the Barbados Investment and Development Corporation (BIDC), hosted a business symposium at the Grand Hyatt in New York Thursday, January 27. The conference, entitled Welcoming International Business, featured presentations on the financial and practical advantages of establishing a company and conducting business in Barbados.
Ms. Peggy Griffith, Director, International Business, BIDC, opened the symposium with a welcome address and introduced Mr. Sobers, who emphasized Barbados’ political and social stability, long tradition of democracy, developed infrastructure and highly skilled workforce as factors creating a favorable business environment in Barbados. Dr. Carl Ross, Senior Managing Director with Bear, Stearns & Company, discussed Barbados and the International Financial Climate, explaining that the country is in the top tier of credit quality and stability, and one of the strongest investment options in the Caribbean. Dr. Ross named tourism, which rebounded quickly following the events of 9/11/2001, as a key economic driver.
Ms. Kate Westover, International Insurance Consultant, Captive Advisory Services, outlined Key Reasons Why U.S. Companies Prefer Barbados for International Insurance Solutions. Ms. Westover discussed dual tax agreements with the United States and several other countries, Barbados’ insurance legislation and regulatory advantages as a few of the key attractions. Joel Alleyne, CEO, Crucible Management Inc., provided a case study about setting up business in Barbados, sharing his own success story.
“Barbados offers comprehensive solutions for investment needs, and our organization provides personalized advisory services that support potential investors,” said Anthony J. Sobers, CEO of the BIDC. “We’ve welcomed more than 5,000 international companies, and this business symposium is a dynamic forum for sharing Barbados’ advantages with others who can benefit from relocating there.”
Those advantages include, but are not limited to: · An attractive incentives program · 40 percent off operating costs · Favorable tax treaties in structuring international operations · Optimized financial services legislation · Effective yet not onerous regulation.
BIDC will host a special trip for those interested in learning more about business opportunities in Barbados. Participants will have access to other business leaders who have opened facilities in Barbados. The dates for the trip are March 2-4, 2005.
Economic stability and a commitment to free enterprise create an attractive environment for offshore investment in Barbados, and the BIDC offers a sophisticated support system to expedite start-up and promote growth. BIDC offices are located in Barbados, New York, Toronto, Miami and London. For more information contact the BIDC toll-free at 800.841.7860 or visit the website at www.bidc.com.
