Jose Rosa, President of the Chamber of Industry and Commerce (CIC), said that the Federation of St. Kitts and Nevis boasts a diverse and dynamic economy. He made these remarks at the 2016 National Consultation on the Economy on (September 28).
“Internal and external pressures constantly force us to change our practices and our methodologies to introduce new laws, build social programmes and expand public infrastructure,” said the CIC President. “Also, this new economy needs a broad understanding of trade agreements and the implications of non-compliance; the socio-economic impact of advancing one’s industry over another, or developing several industries simultaneously; and creating jobs, while at the same time developing technical and vocational skills.”
He noted that it requires more than a passing awareness of the above mentioned elements to determine whether or not to invest in the economy.
“It requires a deep analysis which should include a formal discussion of all the stakeholders to prioritize the areas of investment. The results and implementation of this analysis must provide a sustainable environment for economic growth,” said President Rosa.
The President explained that we live and operate in a competitive age that is aggressively advanced by innovation, and fueled by technology applications. He said due to this, the private sector has to play a well-defined and critical role in accelerating growth and building resilience.
“We accept it as our role; but in today’s competitive world, particularly when you take into consideration our small island size and relative small economy, there needs to be closer collaboration with all stakeholders, including the government to deliver the desired results that underpin economic resilience,” he said.