The national investment promotion agency of Barbados is hosting a major business forum in Belfast in a bid to showcase the island as a potential hub for Northern Ireland firms wanting to expand into the wider Caribbean and Latin American markets.
The delegation from Invest Barbados – that region’s equivalent of Invest NI – are visiting in the wake of “strong interest” from companies in the north keen to learn more about the island’s thriving business landscape, which since its independence in 1966 has been transformed from a low-income economy dependent on sugar production into a high-income economy based on tourism and the offshore sector.
One of Invest Barbados’ primary functions is acting as an intermediary between foreign investors and the Barbadian government, ensuring that the investment journey is as seamless as possible.
The organisation offers a full range of services, from promoting Barbados as an attractive investment destination to providing timely, high-quality information to potential investors.
The forum in Belfast on Monday will highlight why Barbados – birthplace of singer and entrepreneur Rihanna – is attracting an expanding roster of businesses of substance, elaborate on Invest Barbados’ role and bring together a select group of 50 invited representatives from local businesses to explore opportunities across key sectors, including financial services, renewable energy, ICT, fintech, global education, life sciences, and niche manufacturing.
It will also serve as the official launch of the 2025 UK Investment & Trade Mission to Barbados, scheduled for November, in which Northern Ireland companies are being encouraged to register any interest.
Like economies around the world, Caribbean nations have been sizing up the magnitude of the sweeping tariffs announced by US President Donald Trump on Wednesday. In the case of the Caribbean, he announced a 10% tariff on most regional countries, though in Guyana, the tariff is as high as 38%.
Attracting Invest Barbados (https://www.investbarbados.org/) to Belfast has been influenced by Belfast-based public relations professionals Janet McKay and Gareth Robinson, who have strong ties to the Caribbean island, having visited frequently.
The couple participated in the organisation’s UK Investment & Trade Mission to Barbados last November and encouraged Invest Barbados to expand its engagement with the Northern Ireland business community.
Kaye-Anne Greenidge, chief executive officer of Invest Barbados, will speak in Belfast about the island’s transformational journey and strategic position within CARICOM (a grouping of 21 countries, 15 member states and 16 million citizens) and the range of opportunities for conducting business on the island.
She said: “We are pleased to host our first business event in Northern Ireland and are thankful for the growing interest in doing business with our island and for the opportunity to introduce the Barbados value proposition, which can assist businesses here to grow and expand.
“Our mission is to seek, secure, and support sustainable investments that enhance the economic and social development of Barbados.”
She added: “The growing interest from Northern Ireland businesses, both demonstrates a high level of confidence in our nation and really brings focus to some of the island’s attributes including a stable economy, competitive tax advantages, and strategic location as a gateway to Latin America and the Caribbean. We look forward to further strengthening these ties and welcoming UK businesses to our upcoming investment and trade mission.”
Suzanne Wylie, chief executive of NI Chamber, will attend Monday’s event in Waterman House to introduce Invest Barbados as a corporate member of its business network.
She said: “We’re delighted to welcome Invest Barbados to Northern Ireland for this signature event.
“As a valued corporate member of NI Chamber, Invest Barbados plays a unique role in strengthening ties between both jurisdictions. Right now, businesses in Northern Ireland are ambitious and excited about opportunities to tap into new global markets.
“This event offers those who are curious about business prospects in Barbados the opportunity to hear directly from in-market experts about the sectoral opportunities which exist.”
Other key speakers include His Excellency Mr Milton Inniss, High Commissioner for Barbados to the UK, who will provide insights on the growing economic relationship between the two regions.
Gareth Robinson, managing director of Verbatim Communications, will discuss how Northern Ireland businesses can leverage Invest Barbados’ support to expand into the Caribbean market.
He said: “It’s fantastic to see such strong interest from Northern Ireland businesses in Barbados. This event provides an invaluable opportunity to showcase the benefits of investment in the region and connect Northern Ireland companies with key decision-makers who can facilitate their expansion.”
The Barbados delegation will say that among the advantages of doing business there are its ‘pro-business’ government, highly skilled workforce, and world-class infrastructure. Its strategic location in the Caribbean facilitates easy access to markets in Latin America and the United States.
With no capital gains tax, competitive tax rates, and a favourable regulatory framework, Barbados also provides a secure and stable environment for businesses seeking to expand internationally.
Companies can also benefit from a robust treaty network, with double tax agreements with 40 countries, including the UK and the USA.