New investment opportunities between Barbados, Guyana in the works
Barbados and Guyana are moving to deepen regional integration beyond easier travel, with Prime Minister Mia Mottley and Guyanese President Dr Irfaan Ali announcing plans for a new joint investment initiative that could allow citizens of both countries to invest directly in major infrastructure and development projects.
The proposed “Trident Arrow Investment Fund” was announced during a press conference in Guyana on Tuesday, just one day after both countries formally unveiled a new arrangement allowing citizens to travel between Barbados and Guyana using only national identification cards instead of passports.
According to reports from Guyanese media outlet News Room Guyana, Mottley became the first Barbadian to travel to Guyana using a digital ID card under the new system, which is expected to be fully rolled out from July 1 to allow airlines and other stakeholders time to adjust.
Speaking during the press conference on Tuesday evening at the Guyana National Stadium in Providence, held as part of Guyana’s Diamond Jubilee celebrations , Mottley described the latest developments as another practical step towards deeper Caribbean integration.
“This initiative represents another significant step forward in regional cooperation, south-south collaboration, and people-centred governance,” Mottley said.
“As our two nations mark 60 years of Independence, it is fitting that we take this step together. This is the kind of practical integration that Caribbean people can feel in their daily lives.”
The Prime Minister revealed that both governments are working towards the creation of the investment fund, which she said would allow citizens to become stakeholders in national and regional development projects.
According to Mottley, the proposed fund would allow citizens “to earn sound returns and become owners of projects” in both countries.
President Ali also welcomed the growing partnership, describing it as part of a broader vision for a more connected Caribbean region.
“As Guyana and Barbados celebrate 60 years of Independence, this initiative symbolises not only the enduring friendship between our nations, but also our shared vision for a more connected, accessible, and united Caribbean community,” Ali said.
The latest announcement signals a further deepening of relations between Barbados and Guyana at a time when both countries have been strengthening cooperation in areas including trade, tourism, healthcare, labour movement and investment.
Only on Monday, both governments announced that eligible citizens holding valid national ID cards would soon be able to travel between the two countries without the need for a passport, in a move officials said would make travel easier and more affordable while boosting tourism, cultural exchange and business activity.
Mottley also expressed hope that the easier travel arrangement would eventually be expanded to other Caribbean territories as regional integration efforts continue to evolve.
Additional details regarding the investment fund and the implementation of the ID-card travel arrangement are expected to be released in the coming weeks ahead of the July 1 rollout.
On the streets of Bridgetown on Tuesday, several Barbadians welcomed the ID-card travel arrangement, describing it as a long-overdue step towards easier regional movement and closer Caribbean unity. Some, however, noted that airfare costs could still remain a barrier for many travellers.
Also speaking to Barbados TODAY earlier this week, economist Professor Don Marshall described the travel arrangement as a catalyst for deeper regional integration and cross-border investment, saying it could help unlock new business opportunities between both countries.
(SM)
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المصدر: Barbados Today
