Prime Minister Gaston Browne has issued a strong call to action for Small Island Developing States (SIDS), asserting that reliance on foreign direct investment perpetuates extractive economies within the Caribbean.

Speaking at the ongoing Africaribbean Trade and Investment Forum 2025, currently underway in Grenada, Browne highlighted the urgent need for regional economies to take control of their resources to foster sustainable growth.

According to Browne, many Caribbean nations operate under extractive economic models, where local resources are harvested by external entities, leading to profit repatriation rather than local benefit.

“Unfortunately, many of our economies are extractive. We do not control our resources; they are exploited by foreign interests, and the profits generated are sent outside our region,” he stated.

The Prime Minister emphasized the importance of ownership and resource retention, expressing that nations must concentrate on allowing local populations to benefit equitably from their resources.

Browne lamented the irony of exporting home-grown resources only to re-import them at inflated prices, stressing that this cycle must be broken.

He remarked, “The issue of ownership becomes very important. If we are going to be successful, then clearly we have to empower our people at all levels regarding ownership. We must ensure that our citizens can share equitably in the gains rather than remain bound to this extractive model, which harkens back to the days of colonialism and slavery.”

Browne called for a re-investment of local resources to develop and harness regional products. “If we are going to rely solely on foreign direct investment,” he warned, “then clearly we will remain as extractive economies and will not achieve the growth and development we aspire to.”

The Prime Minister’s remarks resonate with many Caribbean leaders who are advocating for a shift toward more sustainable, locally-driven economic practices that prioritize community ownership over external exploitation. The call for change comes as the region continues to grapple with economic challenges exacerbated by external dependencies and global market fluctuations.

Browne’s vision of a more self-reliant Caribbean economy could pave the way for a brighter future, but it will require concerted efforts across all sectors to empower local communities and ensure they reap the benefits of their natural resources.