Initiatives directed at stimulating the private sector were noticeably absent from the recent reading of the 2016/17 Budget by Hon. Premier Donaldson Romeo.
However, DfID Rep Martin Dawson said that a separate initiative is in the works for private sector growth. Dawson told the press Wednesday that a new private sector advisor is now in office and currently developing the programme to be rolled out by mid-year.
Hon. Premier Romeo told Discover that he is in communication with the advisor, Hannes Bahrenburg to ensure the 850,000 pounds allocated for private sector development in 2016/17 is used effectively.
One of the first initiatives will be a business challenge fund, the premier shared. He added that the fund will not be limited to any one sector as a way to encourage innovation and a strengthened business environment.
A business case is being developed for private sector development.
