The trinidad Guardian / President of the T&T Manufacturers Association (TTMA) Christopher Alcazar said that members of his association stand ready to support any recovery for the local economy.
“From my conversation with those that I represent, I can say confidently that we are prepared to do what is necessary to do our part in supporting the economy along a sustainable path of economic growth and development” Alcazar said yesterday in a statement heralding the association’s new year’s message.
Alcazar added that in spite of the current challenges, there remained reason to be optimistic about the local economic circumstances.
He said: “Notwithstanding, the reason for my positive outlook is that despite that economic stagnation, our macro economic fundamentals, for the most part, continues to be favorable, inter alia, unemployment is still relatively low, inflation remains manageable, the exchange rate low (though concerning) is not out of hand and interest rates are stable”
Alcazar pointed out that these “favorable” macro economic fundamentals augured well for business stability and decision making.
“Businesses work best in an environment that is predictable, consistent, reliable and transparent. These are important pre-requisites for businesses to continue to invest and expand operations.” Alcazar said.
The TTMA president said that the role of government would always be important in small economies such as T&T’s.
“Fortunately or unfortunately, given the small, vulnerable nature of our economy, there will always be a significant role for the government to play through policy decisions and decision-making at the government agency level in shaping the outcome of our destination, and so the TTMA continues to hold the view that it is imperative in 2018 for the government to engage in meaningful, thought provoking and dynamic type of governance”.
Touching on labour, Alcazar stated that the “IR (Industrial Relations) climate needs to be addressed as a matter of urgency and labour challenges and productivity issues need to be dealt with frontally”
TTMA president: Manufacturers ready to play role in economic recovery
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