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BY LUKE DOUGLAS Sunday Finance senior reporter editorial@jamaicaobserver.com
Sunday, April 10, 2011
MANUFACTURERS in Trinidad and Tobago (T&T) including one large player are eyeing Jamaica with a view to establishing operations here, Minister of Industry Commerce and Investment Karl Samuda revealed last week.
"They (Trinidadians) are satisfied that the economic, political and social indicators are sufficiently encouraging for them to invest in Jamaica. They see Jamaica as an emerging destination that offers great opportunities for the future," Samuda stated.
SAMUDA... Trinidadians are prepared to put their money where their mouth is.
SAMUDA... Trinidadians are prepared to put their money where their mouth is.
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He was addressing a press conference at his ministry on Wednesday following a visit to T&T by a Jamaican delegation headed by him.
But despite the interest being shown in Jamaica, Samuda is expressing confidence in Jamaica's ability to compete with T&T, despite Jamaica's much higher energy costs.
"When we see Trinidadians coming here to invest in productive enterprises, I hope nobody starts complaining that Trinidadians are taking over Jamaica, because they are prepared to put their money where their mouth is," he said.
The mission, which included representatives of the Jamaica Manufacturers' Association (JMA), the Jamaica Exporters' Association (JEA), and the Jamaica Chamber of Commerce (JCC), as well as representatives of the Ministry of Foreign Affairs and Foreign Trade, the Ministry of Agriculture, JAMPRO and private companies, visited Trinidad and Tobago between March 27 and 30.
During the visit Samuda was impressed with the efforts by T&T to modernise its manufacturing sector.
"We saw factories with sophisticated equipment, but also old technology coexisting beside new technology; robotics working alongside ancient technology with the plan of moving out the old for new technology, and setting the stage for world-class competitiveness in our region," he said, adding "It behoves us to adopt that kind of approach in every manufacturing process we have in Jamaica."
Samuda, however, sought to downplay energy costs as the only reason for Jamaica not being able to compete with T&T, noting that there were other areas which Jamaica can leverage to compete regionally. He challenged Jamaican entrepreneurs to invest in new technology and training to compete in the manufacturing sector as their counterparts in T&T have done.
"We have a very productive population. Our people are easily adaptable to new technology, our people are quite competitive against any producer anywhere in this region once the appropriate training and machinery is in place", Samuda asserted.
The minister said T&T was keen on working with Jamaica to develop a common approach to standards compliance, to cut bureaucracy and establish trade linkages.
He said similar exchange visits to Jamaica by the T&T trade minister and private sector heads were in the works.
Sunday, April 10, 2011
MANUFACTURERS in Trinidad and Tobago (T&T) including one large player are eyeing Jamaica with a view to establishing operations here, Minister of Industry Commerce and Investment Karl Samuda revealed last week.
"They (Trinidadians) are satisfied that the economic, political and social indicators are sufficiently encouraging for them to invest in Jamaica. They see Jamaica as an emerging destination that offers great opportunities for the future," Samuda stated.
SAMUDA... Trinidadians are prepared to put their money where their mouth is.
SAMUDA... Trinidadians are prepared to put their money where their mouth is.#slideshowtoggler, #slideshowtoggler a, #slideshowtoggler img { filter: none ! important; }
1/1 He was addressing a press conference at his ministry on Wednesday following a visit to T&T by a Jamaican delegation headed by him.
But despite the interest being shown in Jamaica, Samuda is expressing confidence in Jamaica's ability to compete with T&T, despite Jamaica's much higher energy costs.
"When we see Trinidadians coming here to invest in productive enterprises, I hope nobody starts complaining that Trinidadians are taking over Jamaica, because they are prepared to put their money where their mouth is," he said.
The mission, which included representatives of the Jamaica Manufacturers' Association (JMA), the Jamaica Exporters' Association (JEA), and the Jamaica Chamber of Commerce (JCC), as well as representatives of the Ministry of Foreign Affairs and Foreign Trade, the Ministry of Agriculture, JAMPRO and private companies, visited Trinidad and Tobago between March 27 and 30.
During the visit Samuda was impressed with the efforts by T&T to modernise its manufacturing sector.
"We saw factories with sophisticated equipment, but also old technology coexisting beside new technology; robotics working alongside ancient technology with the plan of moving out the old for new technology, and setting the stage for world-class competitiveness in our region," he said, adding "It behoves us to adopt that kind of approach in every manufacturing process we have in Jamaica."
Samuda, however, sought to downplay energy costs as the only reason for Jamaica not being able to compete with T&T, noting that there were other areas which Jamaica can leverage to compete regionally. He challenged Jamaican entrepreneurs to invest in new technology and training to compete in the manufacturing sector as their counterparts in T&T have done.
"We have a very productive population. Our people are easily adaptable to new technology, our people are quite competitive against any producer anywhere in this region once the appropriate training and machinery is in place", Samuda asserted.
The minister said T&T was keen on working with Jamaica to develop a common approach to standards compliance, to cut bureaucracy and establish trade linkages.
He said similar exchange visits to Jamaica by the T&T trade minister and private sector heads were in the works.
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