What we need here is a Social Contract

[Muadib]

Indeed, once a vibrant industry that employed over 120,000 persons and contributed more than 20 per cent to GDP up to the 1980s, Jamaican manufacturing has been stymied by numerous factors, including macro-economic uncertainty, the high cost of electricity, crime, bureaucracy, shortage of skills and a lack of support for locally made products.
Today the sector contributes 8.6 per cent to GDP and employs 74,800 persons. Still, there's no questioning the importance of the industry to nation building. It contributes $30.5 billion in taxes and earns US$739.2 million in foreign exchange annually.


Read more: http://www.jamaicaobserver.com/busin...#ixzz28isEJKU5

[Exile]

..and laziness by Jamaican business people who find it easier to buy and sell than manufacture anything.....

[Muadib]

buy and sell ? yuh nevah hear bout Government Paper..

amazing how lazy Jamaican Business people flourish innah Farin...

dem mussi get unlazy after dem land..

Is how much Jamaican hard working aspirants were rewarded under FINSAC again ?

[Reggaedoc]

Yeh. They will be quick to call themselves "Investors". I call them slimy "Haberdashers". They are mainly " Five-and-dimers" on steroids in a crony system that unfairly protects them from real capitalist competition.

[Muadib]

Ahm.. people operate within the environment presented.. some very successfully.. and at a World Class level..

[Assasin]

Who a di business people? Everybody want a government job and government paper. It safer.

[Reggaedoc]

World class level?. Which one of the higglers is World Class, the ones on the sidewalk at West Parade, in Cornation Market, or the ones in the haberdasheries. The only difference in Ja is scale, not class of business. The haberdashers don't even want to pay taxes. Many of them steal light and power just like the ordinary electricity thief in Tivoli. World class?. Yeh World class thieves. Then to add insult to injury, they show up lauhging on the Society Pages of the Sunday rags. Have they no shame. Disgraceful.

[Willi]

Huh?

Do you know how many productive firms FINSAC killed.
Engineering firms and the likes? BLACK owned businesses

Omar screwed wi up and a look scapegoat now. What a prekeh!

[Willi]

What has been GOJ policy to encourage productive enterprises?

Steeeuups.

Bare fren' and company and borrow to waste/scuffle runnings a gwaan fi decades.

Look at the current energy minister. After him build his fortress/mansion, he decided to go off the grid solar. Does he buy from local suppliers??? Nah, him run gone h Cuba fi hook himself up. Wha kinda example dat?

[Willi]

Well, is that the incentive shystem in Jamdung promote, so....

[Assasin]

People don't see why you have successful business that are not Jamaican owned. Because they don't have to borrow capital from Jamaican banks. Because the foriegn businesses and the head of PSOJ/JMA etc get all kind of concessions, write off and pay off customs.

Most successful businesses in Jamaica either have their capital or get money somewhere else, not from Jamaican banks.

Government suppose to give a level playng field but you think the Jamaican hotelier get anything near concession that the Spanish hotelier get? Unless you already have a chain. Not the man who building 30 rooms and will add 20 if business look good.

Just like the law that recently passed in Parliament for certain foriegn workers to be excluded from income tax while the average Jamaican will be saddled with paying pension, tax increase, and inflation and will be banning their belly. Where is the equity here? And by the way it is supported by both sides.

Why is there no outcry from anyone in Jamaica on this?

[Muadib]

WYSINCO and Sandals are pretty good.. di Chukka people dem not bad neidda..

[Exile]

How many?? I KNOW BLACK owned businesses' that suffered under FINSAC and still successful....here we are talking about Jamaican business people and their lack of innovation and investment and manufacturing but once gain it;s FINSAC and OMAR fault and little lowly TT Business people buy out Jamaica and flood the market with their products....yes, and we get the simplistic energy costs response...only part of the answer.

[Willi]

Anything thing fi defend PNP failure...Ahhh bwoy...IIt is clear now.

[Assasin]

Every business need capital. Some of the businesses survive but most had their own capital didn't have to borrow, others had to beg and borrow from families etc to pay off loan.

It is impossible to deflect some a the blame from our government policy. People don't want to mortgage away their family. What interest rate you get on business loan in Trinidad?