The government has been lauded for its commitment in facilitating a suitable environment for producers and exporters, by Chairman and Chief Executive Officer (CEO) of the LASCO Group of Companies, Hon. Lascelles Chin, O.J.
Mr. Chin also said he is particularly pleased with the steps taken by the Ministry of Finance to lower interest rates.
The CEO was speaking on July 12, at a JIS ‘Think Tank’, held at the agency’s headquarters in Kingston.
Group Managing Director, LASCO, Anthony Chang (left); Chairman and Chief Executive Officer of the LASCO Group of Companies, Hon. Lascelles Chin (centre) and Managing Director, LASCO Financial and Remittance Services, Jacinth Hall Tracey, deep in discussion prior to a JIS ‘Think Tank’, on July 12.
“Jamaica is blessed with a remarkable geographical location, which is well positioned to give exporters maximum benefits in terms of air traffic and sea traffic flows across the world. Jamaica and some other countries in the northern Caribbean have an advantageous position in terms of trade, because of our strategic position in the major shipping routes to North America and Europe, and I wish to acknowledge and commend the government for exercising considerable effort in creating an enabling environment for producers and exporters,” he said.
Mr. Chin said he welcomed the insistence by the Finance Minister, Hon. Audley Shaw, on the lowering of the interest rate regime and the lowering of fiscal borrowing requirements.
“The government has been doing a lot to reduce the bureaucratic red tapes, which in the past, has hindered some aspects of our exports,” the LASCO CEO pointed out.
In the meantime, he suggested that farmers and other entrepreneurs should expand the agro processing industry. “We are hoping our farmers and entrepreneurs will seek to grow the agro processing industry significantly. I notice that Dr. Christopher Tufton (Minister of Agriculture and Fisheries) has been instrumental in facilitating the establishment of pepper masher units and scotch bonnet pepper nurseries. We at LASCO have noticed an increased demand for hot peppers and this agro-processing venture could be a cash cow for some of our farmers,” Mr. Chin said, while emphasising that the only way for socio-economic conditions to be improved is by producing more.
“I am urging Jamaicans to be more assertive in getting into manufacturing and in pursuing export opportunities. The global economy is slowly rebounding from its recession and this is the best time to get into manufacturing and exports. Production and exports will fuel our economy to greater heights, so let us step up the game,” he encouraged.
“We need to get more involved in manufacturing and exporting the goods we produce, we need to shake off the complacency of not growing our exports,” Mr. Chin argued.
Accordingly, the LASCO Chairman is appealing to farmers to produce more scotch bonnet peppers, callaloo, sweet potatoes, breadfruit and ginger for the export market.
The LASCO Group of Companies is a leading Jamaican manufacturing and distribution entity, which provides high quality, nutritious and affordable products and services nationally, regionally and internationally.