Prime Minister Godwin Friday says his government will establish a Private Sector Advisory Council by the end of March 2026 to strengthen structured collaboration with the private sector.
The council will serve as a direct link between the Cabinet and the private sector, meeting regularly to review economic conditions, identify challenges, and propose practical solutions to improve the business climate and reduce the cost of doing business.
The Office of the Prime Minister said Friday made the announcement during his second engagement with private sector leaders, which was also attended by members of the Cabinet and senior government officials on Tuesday.
“This council will help ensure that ideas shared with government are translated into
action to support investment, job creation, and economic growth,” the prime minister said.
The statement said the high-level engagement with private sector leaders is part of the government’s ongoing efforts to strengthen collaboration to drive domestic investment, job creation and inclusive economic growth.
It was held under the theme “Partners in Progress: A New Social Contract for St. Vincent”.
Friday told participants that sustainable prosperity must be built through partnership and action.
“We are not here for a talk shop, but a working session to forge a new social contract for 2026 and beyond. Prosperity is built on our farms, in our fishing villages, on construction sites, and in the boardrooms represented here today,” the prime minister said.
He also underscored the importance of mobilising domestic investment, strengthening skills development, and ensuring that economic growth translates into better-paying jobs and improved living standards for Vincentians.
The event featured a panel discussion involving Jimmie Forde of ACADO SVG, Shafia London of the SLU Group, Derry Williams of Bank of SVG, Isola Giddings of the SVG Hotel & Tourism Association, and Ronette Lewis of the Centre for Enterprise Development.
“The government will continue to build on these engagements to strengthen public-private collaboration and advance sustainable national development,” the statement said.
Meanwhile, the CEO and Technical Director of the CARICOM Private Sector Organisation (CPSO), Dr. Patrick Antoine, called for stronger and more structured public-private partnerships to support economic growth and development across the region.
Speaking at the Prime Minister’s Private Sector Engagement Forum, Antoine emphasised the importance of formal, evidence-based collaboration between governments and the private sector to drive investment, innovation, and sound policy-making.
He highlighted opportunities for SVG, including support for emerging industries and improved regional business integration, particularly with Grenada.
Antoine said there was a need for governments and the private sector to work more closely together to shape economic priorities and advance the CARICOM Single Market and Economy.