Tweet
Sector leaders unite
Historic council of presidents formed to tackle economic crisis
Thursday, March 05, 2009
JAMAICA'S most powerful private sector leaders this week convened a historic meeting that dramatised the seriousness of their resolve to tackle the economic crisis facing Jamaica and the world.
The leaders of 21 business associations said in a press statement late yesterday that they had met "in a show of unity to discuss some of the critical issues affecting the Jamaican economy, in the wake of the global economic crisis".
Sagicor Life Jamaica hosted the gathering at its New Kingston headquarters, but the plan is that the group would meet every two weeks while the crisis lasted, with the various associations taking turns to host it.
"It is the start of a good thing," said Chris Zacca, the president of the Private Sector Organisation of Jamaica (PSOJ), the umbrella organisation.
The leaders appeared to have approached the meeting with a resolve not to succumb to a doom and gloom scenario, opting instead to look for opportunities out of
the adversity.
One member led the group in prayer, using the words of the Jamaican National Anthem that stirred a spirit of nationalism, the Observer learnt.
"The presidents determined to use the current crisis as an opportunity to develop medium- to long-term solutions that will put Jamaica's economy back on a growth path," the statement said.
Zacca said the spirit of the meeting was that the nation could not rely on politicians alone to get the country out of the crisis. "Politicians doing the same thing year after year can't get any different results. We resolved that we have to do it together, all of us," the PSOJ head said. "But we all agreed that we can come out of the crisis stronger."
Their wide-ranging discussions were headlined by the current monetary policies being implemented by the central bank, as well as the Government's fiscal programme, a likely reference to the vexed issue of rising interest rates which some business groups have criticised as going contrary to other countries gripped by the recession.
The statement said the group urged the Government not to take the usual approach of "making surprise announcements" about the upcoming budget and, particularly, the much-anticipated tax reform programme, but instead to dialogue with the private sector as a partner, as businesses struggle to cope with the downturn in the economy.
"The presidents strongly supported the Partnership for Transformation dialogue which is currently underway, involving Government, the Opposition, the private sector, unions and civil society, as a vehicle for meaningful dialogue that could help the country ride out the crisis and come out stronger at the end.
"As one participant put it: Jamaica is so important that we must bury our differences as members of the private sector and come together as one. Similarly, we expect the Government and the Opposition to also come together so we can all agree on the way forward for Jamaica, Land We Love.
"The Council of Presidents has reaffirmed the private sector's faith in Jamaica and its commitment to working in partnership with Government and other stakeholders to strengthen the Jamaican economy.
Present at the meeting were:
. Christopher Zacca President, PSOJ
. Wayne Chen President, Jamaica Employers Federation
. Edward Chin-Mook President, Small Business Association of Jamaica
. Wayne Cummings President, Jamaica Hotel & Tourist Association
. Patrick Hylton President, Jamaica Bankers Association
. Michael Lumsden President, Jamaica Exporters Association
. Roger Hinds President, Shipping Association of Jamaica
. Omar Azan President, Jamaica Manufacturers' Association
. Milton Samuda President, Jamaica Chamber of Commerce
. Lloyd B Smith President, Montego Bay Chamber of Commerce
. Keith Smith 1st Vice President, Manchester Chamber of Commerce
. Horace Wildes President, St Ann Chamber of Commerce
. Andrew Levy President, Insurance Association of Jamaica
. Kenneth Shaw President, Jamaica Used Car Dealers Association
. Henry Rainford President, Jamaica Livestock Association
. Edwin Wint President, Realtors Association of Jamaica
. Michael McMorris Representing the In-Bond Merchants Association
. Dorothea Gordon-Smith President, Women Business Owners Association
. Ilsa duVerney Chairman, Jamaica Customer Service Association
. Reynold Scott Chairman, Jamaica Developers Association
. Prunella Vassell President, Institute of Chartered Accountants of Jamaica
Historic council of presidents formed to tackle economic crisis
Thursday, March 05, 2009
JAMAICA'S most powerful private sector leaders this week convened a historic meeting that dramatised the seriousness of their resolve to tackle the economic crisis facing Jamaica and the world.
The leaders of 21 business associations said in a press statement late yesterday that they had met "in a show of unity to discuss some of the critical issues affecting the Jamaican economy, in the wake of the global economic crisis".
Sagicor Life Jamaica hosted the gathering at its New Kingston headquarters, but the plan is that the group would meet every two weeks while the crisis lasted, with the various associations taking turns to host it.
"It is the start of a good thing," said Chris Zacca, the president of the Private Sector Organisation of Jamaica (PSOJ), the umbrella organisation.
The leaders appeared to have approached the meeting with a resolve not to succumb to a doom and gloom scenario, opting instead to look for opportunities out of
the adversity.
One member led the group in prayer, using the words of the Jamaican National Anthem that stirred a spirit of nationalism, the Observer learnt.
"The presidents determined to use the current crisis as an opportunity to develop medium- to long-term solutions that will put Jamaica's economy back on a growth path," the statement said.
Zacca said the spirit of the meeting was that the nation could not rely on politicians alone to get the country out of the crisis. "Politicians doing the same thing year after year can't get any different results. We resolved that we have to do it together, all of us," the PSOJ head said. "But we all agreed that we can come out of the crisis stronger."
Their wide-ranging discussions were headlined by the current monetary policies being implemented by the central bank, as well as the Government's fiscal programme, a likely reference to the vexed issue of rising interest rates which some business groups have criticised as going contrary to other countries gripped by the recession.
The statement said the group urged the Government not to take the usual approach of "making surprise announcements" about the upcoming budget and, particularly, the much-anticipated tax reform programme, but instead to dialogue with the private sector as a partner, as businesses struggle to cope with the downturn in the economy.
"The presidents strongly supported the Partnership for Transformation dialogue which is currently underway, involving Government, the Opposition, the private sector, unions and civil society, as a vehicle for meaningful dialogue that could help the country ride out the crisis and come out stronger at the end.
"As one participant put it: Jamaica is so important that we must bury our differences as members of the private sector and come together as one. Similarly, we expect the Government and the Opposition to also come together so we can all agree on the way forward for Jamaica, Land We Love.
"The Council of Presidents has reaffirmed the private sector's faith in Jamaica and its commitment to working in partnership with Government and other stakeholders to strengthen the Jamaican economy.
Present at the meeting were:
. Christopher Zacca President, PSOJ
. Wayne Chen President, Jamaica Employers Federation
. Edward Chin-Mook President, Small Business Association of Jamaica
. Wayne Cummings President, Jamaica Hotel & Tourist Association
. Patrick Hylton President, Jamaica Bankers Association
. Michael Lumsden President, Jamaica Exporters Association
. Roger Hinds President, Shipping Association of Jamaica
. Omar Azan President, Jamaica Manufacturers' Association
. Milton Samuda President, Jamaica Chamber of Commerce
. Lloyd B Smith President, Montego Bay Chamber of Commerce
. Keith Smith 1st Vice President, Manchester Chamber of Commerce
. Horace Wildes President, St Ann Chamber of Commerce
. Andrew Levy President, Insurance Association of Jamaica
. Kenneth Shaw President, Jamaica Used Car Dealers Association
. Henry Rainford President, Jamaica Livestock Association
. Edwin Wint President, Realtors Association of Jamaica
. Michael McMorris Representing the In-Bond Merchants Association
. Dorothea Gordon-Smith President, Women Business Owners Association
. Ilsa duVerney Chairman, Jamaica Customer Service Association
. Reynold Scott Chairman, Jamaica Developers Association
. Prunella Vassell President, Institute of Chartered Accountants of Jamaica