(iWitness News) – The New Democratic Party government is standing by its economic strategy as one of “opening the country for business” and “liberating private capital,” even as the opposition accuses it of selling off one of the state’s prime tourism assets at a discount to keep the public finances afloat.
During Thursday’s sitting of Parliament, Prime Minister Godwin Friday framed his broader legislative agenda — including sweeping changes to the Companies Act — as part of an effort to ease doing business, attract foreign investment and “grow our way out” of a heavy public‑debt burden.
Without referring directly to Chatham Bay, the prime minister told lawmakers that with government finances constrained, the state must increasingly rely on private capital, including foreign investors, to drive growth.
Friday argued that the state must “create an enabling environment for doing business,” including reforming penalties and regulatory requirements that he said were deterring foreign companies from operating in the country.
However, Opposition Leader Ralph Gonsalves accused the government of having been forced to sell “the crown jewel down in Chatham Bay” at a fraction of its earlier valuation to keep current spending going — a symbol, he argued, of a deepening financial squeeze and misplaced priorities.
