CONGRATULATIONS, EXPO JAMAICA!
IWOULD like to take this opportunity to congratulate the Jamaica Manufacturers Association, Jamaica Exporters Association, JAMPRO and all the organisers on the effort they have expended to make Expo Jamaica 2016 a reality.
The staging of Expo Jamaica 2016 comes at a time when the country is experiencing continued interest from the investor community seeking to take advantage of the improvements in the country’s business environment. There has been particularly strong interest in, and healthy indicators of, increased efforts towards moving the manufacturing sector forward. There is every indication of a revitalised manufacturing sector. Much of this movement is undoubtedly recognition of the fact that significant improvements occurred over the last four years on several fronts to better position Jamaica in the globally competitive economy. The outlook for economic competitiveness is strong, with the prospects for the cost of energy trending down in the near future and greater efficiency in such areas as customs management, and development approvals and permitting.
TRANSFORMATION
Let me quickly add that the future of our manufacturing sector is inextricably linked to a successful transformation of our economy into one that is logisticscentred. It must be recognised that improved logistics is synonymous with improved economic competitiveness. Generalisation of logistics principles throughout the economy and business environment must therefore be a priority. This is indispensable to developing the infrastructure to strengthen existing supply chains, and building new robust supply and value chains, that today form the pivot of modern global industry and trade.
Critical components of the foundations for a revitalised manufacturing sector have been implemented. These include the improved doing-business environment, the enactment of the special economic zones legislation, the passage of legislation to strengthen standards development and compliance and foster the development of new industries.
I am especially happy to see that Cuba’s deputy minister of trade and investment is visiting our premier event for the manufacturing sector as your special guest, especially at a time when significant strides have been made to reposition Cuba within the hemisphere and to liberalise commercial relations with its Caribbean neighbours. As a practical matter, we must now implement mechanisms, as required, to facilitate trade between Cuba and Jamaica. After all, Jamaica is Cuba’s closest neighbour; there is every reason why the two countries should be engaged in robust trade and business activities.
GLOBAL COMPETITION
Much has been accomplished by the industry players to strengthen their capacity and make them more resilient to global competition. I applaud the efforts of our manufacturers who persist against adversities, and who extend themselves to continue learning even when the industry learning curve shifts. They have been very adaptable in face of an ever changing competitive marketplace. What is clear is that for our manufacturers to remain viable over the long term, the challenge of accessing finance, and especially trade finance, must be successfully addressed.
The successful implementation of Jamaica’s new export strategy demands a revived manufacturing sector, notwithstanding the growing importance of services in the economy. In today’s economy, there is no Chinese Wall between goods and services. As we move from primary sectors to knowledge sectors it will be increasingly important that we take advantage of opportunities to develop a viable knowledge driven sector that is linked to manufacturing. In this regard, the design industries are integrally tied to manufacturing. This can be an important component of the BPO industry that we are focused on building out as a key sector in the industry landscape.
Let me close by again congratulating the organisers and offer my best wishes for a very successful Expo 2016. G. Anthony Hylton Opposition Spokesman on Industry, Investment and Commerce