Press Release

“COUNCIL OF PRESIDENTS” CALLS FOR UNITY, PARTNERSHIP TO DEAL WITH JAMAICA’S ECONOMIC WOES
Posted by Administrator (admin) on Mar 13 2009
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 A group of twenty one private sector business association Presidents, dubbing themselves the “Council of Presidents” met on Tuesday in a show of unity to discuss some of the critical issues affecting the Jamaican economy, in the wake of the global economic crisis. This was the first time, in many years, that the association presidents, representing the key sectoral interests in the business community, were meeting, hosted by Sagicor Life Jamaica at its New Kingston headquarters.  

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, had wide ranging discussions, headlined by the current monetary policies being implemented by the Bank of Jamaica as well as the Government’s fiscal programme. 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 urged a 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 group will meet again in two weeks. 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 the following Presidents:
1. Mr. Christopher Zacca President, PSOJ
2. Mr. Wayne Chen President, Jamaica Employers Federation
3. Mr. Edward Chin-Mook President, Small Business Association of Jamaica
4. Mr. Wayne Cummings President, Jamaica Hotel & Tourist Association
5. Mr. Patrick Hylton President, Jamaica Bankers Association
6. Mr. Michael Lumsden President, Jamaica Exporters Association
7. Mr. Roger Hinds President, Shipping Association of Jamaica
8. Mr. Omar Azan President, Jamaica Manufacturers’ Association
9. Mr. Milton Samuda President, Jamaica Chamber of Commerce
10. Mr. Lloyd B. Smith President, Montego Bay Chamber of Commerce
11. Mr. Keith Smith 1st Vice President, Manchester Chamber of Commerce
12. Mr. Horace Wildes President, St. Ann Chamber of Commerce
13. Mr. Andrew Levy President, Insurance Association of Jamaica
14. Mr. Kenneth Shaw President, Jamaica Used Car Dealers Association 
15. Mr. Henry Rainford President, Jamaica Livestock Association
16. Mr. Edwin Wint President, Realtors Association of Jamaica
17. Mr. Michael McMorris Representing the In-Bond Merchants Association
18. Mrs. Dorothea Gordon-Smith President, Women Business Owners Association
19. Mrs. Ilsa duVerney Chairman, Jamaica Customer Service Association
20. Mr. Reynold Scott Chairman, Jamaica Developers Association
21. Mrs. Prunella Vassell President, Institute of Chartered Accountants of Jamaica

Last changed: Mar 13 2009 at 6:05 PM