Local

OFFSHORE LICENSING BID OPENS DEC. 1ST

Barbados is expected to open its Offshore Licensing Bid Round on December 1, 2022.

This disclosure came yesterday from Minister of State in Foreign Trade and Business, Sandra Husbands, as she addressed the opening of the three-day Energy Local Content Workshop and Share Fair, at the Lloyd Erskine Sandiford Centre.

Ms. Husbands told her audience: “Recently, at the International Meeting for Applied Geoscience and Energy, which was held…in Houston, Texas, the Ministry of Energy and Business formally announced its plans to launch the Barbados 2022 Offshore Licensing Round on December 1, 2022.

Minister of State in Foreign Trade and Business, Sandra Husbands (centre), making a point to Economic Adviser, Commonwealth Secretariat, Victor Kitange; while (from left) Deputy Permanent Secretary in the Ministry of Energy, Debra Dowridge; Chief Project Analyst in the Ministry of Energy and Business, Bryan Haynes; and legal advisor at the Commonwealth Secretariat, Dr Chilenye Nwapi (GIS)

“Interested companies will be invited to nominate acreage from available blocks, for inclusion in the bidding process. The upcoming licensing round presents an opportunity to explore the island’s untapped deep-water potential under a competitive legal, fiscal and regulatory framework.”

Ms. Husbands underscored the importance of the energy sector, saying it was key to transforming the economy of Barbados. In expressing the view that energy is critical to national development, she said it creates and facilitates possible investments, innovations, new industries, and jobs. These, she added, were important to sustain economic growth.

“The new global economy is being driven by renewable energy, energy ownership, and energy investment. These realities and the need to make local businesses viable to compete on the international market help to inform the mandate of the Barbados Energy Local Content Development Project.

“However, the ultimate goal is to ensure that the country’s transition from fossil fuels to 100 per cent renewable energy sources is realised. This way, we can ensure that all Barbadians have access to energy that is reasonably priced, reliable, and sustainable,” she explained.

The Minister told the gathering that Government was supportive of efforts to develop the capabilities and competitiveness of Barbadian manufacturers, service providers, suppliers of goods, and individuals, to enable them to participate more effectively in the emerging offshore oil and gas, and renewable energy sectors’ value chain.

However, she noted that several barriers were identified by Government and the Commonwealth Secretariat as limiting the participation of local suppliers in the energy industry value-chain activities in Barbados.

She stressed that Government, with the assistance of the Commonwealth Secretariat, was seeking to address the challenges by strengthening the policy and regulatory framework for local content development and its oversight capacity.

Ms. Husbands stated: “The Barbados Energy Local Content Project has registered rapid progress since its implementation in April 2022. Already, we have evidenced the benefits of the project as its implementation progresses in full force. For the first time, energy industry stakeholders in Barbados are actively engaged and coordinated in exploring how to cooperate and collaborate among themselves and with Government to ensure that the emerging energy industry opportunities yield new economic gains and decent incomes for Barbadians….

“Our Local Content can certainly strategically position Barbados to succeed in an internationally competitive environment regarding the supply of goods and services relevant to offshore oil and gas, offshore wind, and other renewable energy installations.”

The Energy Local Content Share Fair will continue until today Wednesday, September 28, at the Lloyd Erskine Sandiford Centre, from 9:00 a.m. to 5:00 p.m., daily. Members of the public are encouraged to tour the various booths on display, which are showcasing projects in the oil and gas and renewable energy sectors, and interact with the various stakeholders. (PR/GIS)

Local

Remembrance Day Parade On November 10, 2024

Barbados will remember the servicepeople who lost their lives during World Wars I and II, with the customary Remembrance Day Parade and a short inter-denominational service at the Cenotaph, National Heroes Square, The City, on Sunday, November 10.

The parade will commence at 8:00 a.m. and will be broadcast live on national television and radio.

Several armed and unarmed uniformed groups will be on parade, including the Barbados Defence Force, The Barbados Police Service, the Barbados Legion, the Barbados Fire Service, the Barbados Prison Service, the Boy Scouts, and Girl Guides.

Wreaths will be laid at the Cenotaph by the President of Barbados, Her Excellency The Most Honourable Dame Sandra Mason; Prime Minister Mia Amor Mottley, Chief Justice Leslie Haynes, members of the diplomatic corps, and other dignitaries.

The service will be followed by an informal inspection of veterans and a march-past by uniformed groups. Members of the public desirous of attending the event are asked to collect tickets from the receptionist at Government Headquarters, Bay Street, St. Michael, from Monday, November 4, between 8:30 a.m. and 4:30 p.m.

Local

Key Reminders When Considering Investment Opportunities

The Financial Services Commission (FSC) is reminding the public to exercise caution when considering investments in Multi-Level Marketing (MLM) schemes. While MLMs may present themselves as legitimate business opportunities, some can be risky or even illegal, leading to significant financial losses.

Here are some key things to consider before making any investments:

1. Research the Company/Person(s): Thoroughly investigate the background, business model, and reputation of any of the company or persons involved. Verify whether the company or persons associated with the investment are registered and regulated by relevant authorities like the Financial Services Commission.

2. Understand the Business Model: Genuine businesses generate revenue primarily through the sale of products or services, not recruitment of participants. Be wary of models that emphasise recruitment over product sales.

3. Check for Red Flags: Promises of high returns with little effort, emphasis on recruiting others, or pressure to make large upfront investments are warning signs.

4. Consult with Experts: Seek advice based on your financial goals and wherewithal from regulated individuals or companies set up to provide such guidance.

The public is urged to approach all investment opportunities with caution and conduct their due diligence to safeguard their financial well-being.

It is an offence for persons not registered or licensed with the Commission to offer investment advice, sell financial products or deal in securities.

The public is encouraged to notify the Commission of any situations where entities or individuals engage in these practices without being duly registered and/or licensed. (PR/GIS)

Local

Barbadians Continue To Benefit From UNESCO Training In Cuba

Barbadians continue to benefit from UNESCO training courses in Cuba, despite the country experiencing an island-wide blackout from Friday, October 18.

Three Barbadians are currently in Cuba participating in the Caribbean Cultural Training Hub of the UNESCO Programme Transcultura: Integrating Cuba, the Caribbean and the European Union through Culture and Creativity, which was organised by the UNESCO Regional Office in Havana, and funded by the European Union.

Historian and Genealogical Researcher, Stacia Martindale, is participating in the course Designing Small Businesses in Heritage Tourism Destinations, while Landscape Architectural Technician, Kodi Husbands, and Assistant Coordinator and Researcher of the Barbados National Register of Historic Places, Rhianna Smith, are participating in the course Introduction to the Management of Integrated Development of Historic Centers.

They shared their experiences of being in Cuba and about the courses they are studying.

Ms. Martindale said: “So far, the experience has been very amazing. I’ve been loving the culture of Cuba and the general experience in class.

It’s really been exciting for me. It’s my first time in Cuba. I think I know quite a bit about Cuba just because I’m really interested in History. I’m actually a History teacher, so to come here, where that history has happened, is really, really exciting for me.”

Mr. Husbands, who is on his second visit to Cuba, shared that the first time he visited was on a vacation. “It really resonated with me. I got to understand the culture a lot more [and] I was able to identify with the people after speaking to them about their experiences and how they live. That’s what inspired me to continue working in sustainable architecture and design, and cater for society and the people, rather than doing it for money.

“So far, I’ve found different methods or techniques and practices which can be useful for back home in my field of architecture. And different ways I can further develop my country, whether it’s towns like Bridgetown, Speightstown, or Oistins. Or even smaller communities like in the East Coast, or in St. George or more rural areas as well,” he remarked.

It is also the second time for Ms. Smith, who previously benefitted from a course in June, this year, at the prestigious International Film and Television School of San Antonio de Los Baños, on the outskirts of Havana.

“This experience has been a lot different compared to when I was in San Antonio. Havana is a lot more active and has a lot more to see. And so, I’ve been able to immerse in the culture in ways that I was not able to the first time around,” Ms. Smith said.

She added: “We have been having some tours where we have been seeing examples of not only the restoration of historic sites and buildings, but also the repurposing of those buildings for uses that really fit the community. For instance, earlier this week we visited a daycare. But it was a day care for the elderly which doubles as a day care for babies, and so on.

“And so, what they are trying to do is to integrate those two generations and, of course, develop a consciousness of caring for the elderly. Things like that have led me to conclude that it’s been nothing short of inspiring so far, and I’m just looking forward to seeing where things go.” (PR/GIS)

Caption: From left to right – Rhianna Smith, Barbados’ Ambassador to Cuba, Dr. Sharon Marshall; UNESCO Director Anne Lemaistre; Stacia Martindale; and Kodi Husbands pose for a photograph