Barbados Agriculture Investments
Barbados Agriculture promotion efforts are aimed to improve the health and food security of its citizenry. Serious investors with a solid background in agro-business will find Barbados open, eager, and willing to invest in the future of agriculture.
Agriculture represents 3.6% of the country’s Gross Domestic Product (GDP) sectors and is one of the driving forces behind the country’s economy. Investors are attracted by Barbados’ sound legislation, stable economy, and a host of investment incentives.
To support venture capital for new enterprises, the Barbados Ministry of Agriculture and Rural Development offers several agriculture rebates and duty-free concessions on:
» Live Animals
» Planting Material
» Machinery & Equipment (including Irrigation)
» Agricultural Chemicals
» Veterinary Medicaments
» Hand Tools
» Organic Farming
» Computer Programs
» Product Development & Waste Treatment Systems
Investment and development of Barbados’ agriculture sector are supported by Technical Assistance Funds, Working Capital Funds, and Retooling incentives distributed through the Barbados Agriculture Development Fund’s Enterprise Growth Fund.
Grants are offered under the following sub-sectors:
» Spraying & Weed Control Equipment
» Pasture, Cotton & Orchard Development
» Assistance & Support to Farmers’ Organizations
» Agricultural & Agro Processing Machinery
» Land Cultivation & Livestock Development
» Re-tooling (Fishing, Poultry & Livestock Industries)
» Farm Security, Management and Agro-business
» Resource Protection & Management
» Post-Harvest & Crop Technology (Greenhouses, Irrigation & Hydroponics)
» Organic Farming
» Crop Technology Disaster Relief Revolving Fund
When considering Barbados as an investment option, the Agriculture Planning Unit (APU) is a key place to start. The APU is eager to encourage investment in the country’s agriculture industry and key commodity sectors while providing support on:
» Trade & Economic Developments
» Farm Management & Agro-business Developments
» Strategic Planning, Policy Formulation & Program Monitoring
» Economic Research, Subsector Reviews & Special Studies
Local and regional agriculture organizations helping build a community of practice within the sector include:
» Inter American Institute for Cooperation on Agriculture (IICA)
» Caribbean Agricultural Research & Development Institute (CARDI Barbados)
» Caribbean Export Development Agency (CEDA)
» Barbados Society of Technology & Agriculture (BSTA)
» Barbados Agriculture Society (BAS)
» Barbados Horticultural Society (BHS)
» Barbados Agriculture Development & Marketing Corporation (BADMC)
» Food & Agriculture Organization (FAO)
Established in 2005, Agrofest pulled an estimated 50,000 people over the last 3-day event.
A huge success, Agrofest is produced by the Barbados Agriculture Society (BAS) in conjunction with the Ministry of Agriculture and Rural Development.
Agrofest objectives are to:
» Demonstrate the symbiotic relationship between agriculture and the community
» Highlight agriculture’s impact on other economic sectors
» Showcase technology and local branding
» Demonstrate agriculture-related career opportunities for young people
» Highlight the importance of agriculture in household and national food security
» Portray agriculture in a fun and interesting way
The Barbados Agriculture Development & Marketing Corporation (BADMC) is committed to developing the agriculture sector through innovative technological applications, technical and market research and, encouraging competition. BADMC creates investment opportunities that drive enterprise, food security, and prosperity.
» Agriculture sector and program development
» Facilitate government policy concerning rural development and land reform
» Fostering agricultural cooperation between public and private sectors
» Commercial management of agricultural land in accordance with government policy
» Assist farmers in production- to-market value chain (national and international)
» Promote the development and marketing of agricultural co-operatives
Barbados Agriculture is the future. To be a part of developing this sector and helping build sustainable food security on a national and regional scale, consider Barbados as a premier agro-investment destination.