Chamber of Industry and Commerce lauds the Development Bank

Development Bank’s Executive Assistant Ms Danienne Brin (2nd right) presenting the Gold Sponsorship cheque to Mr Calvin Cable. Looking on are Ms Amanda Williams (right) and Ms Malvie James.

Basseterre, St. Kitts (October 10, 2012) — The Manufacturers’ Association, under the Kitts and Nevis Chamber of Industry and Commerce, provides employment for over 2,500 and contributes 6.81% towards the GDP. The Chamber is praising the Development Bank of St. Kitts and Nevis for the supporting role it has played towards that contribution.

Executive Director of the Chamber of Industry and Commerce, Mr Calvin Cable, says that the Development Bank of St. Kitts and Nevis has been supportive to its members, both large and small ones, and the Chamber in its part encourages its members to go to the Development Bank for financial advice and assistance.

“I personally have brought several small business persons here after a seminar we have had to access financing to assist them with agricultural projects that they are working on,” observed Mr Cable.”For our larger members we also look at the bank for assistance in buying machinery etc when we are doing expansion.”

Mr Cable made the remarks on Friday October 5 when he received a Gold Sponsorship cheque for this year’s Manufacturers’Awareness Week from the Development Bank’s Executive Assistant, Ms Danienne Brin, at the Bank’s head office on Church Street in Basseterre.

“The management of the industrial sites, where most of these factories are located, is done by the local Development Bank and in terms of expansion we are now bursting at our seams and looking for additional space,” noted Mr Cable. “We look towards the Development Bank for helping us to secure new locations for industrial sites.”

While the Chamber of Industry and Commerce is cognisant of the financial limitations of a small country, the Executive Director pointed out that the Development Bank has been very supportive.

“They have bent over backwards in a lot of cases that I have known to assist manufacturers to secure factory space, to deal with utility problems etc and I know that they are feverishly looking to assist in getting us a new site, at least one new site, perhaps more,”commented Mr Cable.

The Executive Director, who was accompanied by a member of the Organising Committee of the Manufacturers Awareness Week, 2012, Ms Malvie James and Projects Officer, Ms Amanda Williams, said that the awareness week is held every two years, the last one having been held in 2010.

Manufacturers’ Awareness Week 2012 is being held in the period October 7-13 at different venues, and according to Mr Cable, this year the Chamber has sought to bring all entities together in an atmosphere of education, growth, social awareness and entertainment as they underscore the importance of manufacturing in the economic landscape of St. Kitts-Nevis.

“As I see, manufacturing has been a silent contributor to the growth domestic product of the nation for many, many years. In some cases there are certain stigmas which were attached to manufacturing. We feel that the sector has come of age, its contribution is significant,” concluded Mr Cable.