He was at the time speaking at the launch of the Private Sector Development Programme which took place earlier this week at the Methodist Church Hall. Dr. Gonsalves said the old colonial economy depended largely on goods and had trade preferences on products produced by this country.

He noted that that model of the colonial economy has been changing and is now in its death throes and something new has to be built out of it. Dr. Gonsalves said for the post-colonial economy to be successful it is necessary for the productive sector to have training and applied science and technology at it's the core. The Prime Minister lamented that until 2001 when his administration was elected to office this country was not preparing for this modern, competitive post-colonial economy. His administration he says is preparing for this new and improved economy through its emphasis on education and training among other things.

The private Sector development Programme (PSDP) is being implemented in three phases the first which is currently ongoing and is worth some 5 million dollars.

The second phase is an $18 million eco-driven thrust which will introduce for the first time an incubation system to "shepherd the new breed of entrepreneurs in the economic sphere." The third phase is an information communication development project for some 15 million dollars with emphasis on ICT. It will also involve the construction of a building to move change agents- the Center for Enterprise development and the National Institute of Technology. Implementation of Phases two and three are expected to begin later this year.

Some activities planned under the current project are business support and development services which involves technical assistance to firms and cultural and creative industries. Activities also include Youth enterprise development support and support to business associations. There will also be an investment and promotion and public awareness components where the general public will be sensitized as to private sector initiatives being undertaken by the government and how they can participate and seek to increase both domestic and foreign investments.

The Private Sector Development Programme is being funded by the Government and the European Union.