NEWS
Professor Marshall drew attention to the need for urgently improving the exchange of knowledge between researchers and practitioners in the international business sector. He also argued for Barbados and other regional jurisdictions to have a seat at the table where international decisions are made about the global business and financial services sector. “It is vital that our countries be included in these crucial international discussions to ensure the success and security of Barbados’s international business and financial sector. We should also be part of the Financial Action Task Force as a right, as an entity.” The roundtable concluded with an air of optimism, as the discussion underscored that Barbados, with the support of institutions like The UWI, is well-positioned to tap into the vast potential of the international business and financial sector. u
destination to establish itself as a hub of international business and finance within the global market space.” The principal also underlined the importance of research, which he pointed out was a major strength that The UWI brings to the academy- industry partnership. Stressing that research excellence was deeply ingrained in the institution, he reflected on 2018 when research played a pivotal role in catapulting The UWI into the top tier of global universities as ranked by Times Higher Education . “Research is in the DNA of The University of the West Indies,” Professor Landis stated . “With this strong foundation in research, The UWI is well-equipped to contribute invaluable insights and innovative ideas to the international business and finance sector in Barbados.” On invitation to share their perspectives, each panellist offered unique insights into the path forward for Barbados. Vicki Marshall stressed the importance of proactive measures to ensure regulatory bodies in Barbados and the region are well-equipped and adequately resourced to respond effectively to international finance bodies. “A robust regulatory environment is critical for attracting and retaining international businesses,” she urged. Glenna Smith raised the issue of adequately measuring the impact of corporate tax contributions to the economy: “ This sector plays a vital role in Barbados’s economy, offering a financial lifeline that can be drawn upon in times of economic uncertainty, such as the tourism sector’s decline during the COVID-19 pandemic,” she said.
Professor Clive Landis Pro Vice-Chancellor and Principal The UWI, Cave Hill Campus
Cindy Sadaphal encouraged stakeholders not to shy away from risks but to address them head-on. She made the call for a collaborative approach in shaping legislation and managing risks effectively. “Demonstrating the country’s ability to address and manage risks while enforcing effective laws is crucial to gaining the trust of rating bodies and international businesses,” she advised.
Students posed questions to the panellists at the roundtable event.
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