Government looks to boost manufacturing output
Basseterre, St. Kitts, May 21, 2013 (SKNIS): St. Kitts and Nevis continues to lead the OECS and Barbados in manufacturing exports to the United States and the local Government is taking a number of steps to maintain this edge.
At a recent press conference, Prime Minister the Right Honourable Dr. Denzil Douglas indicated that the Cabinet recently considered “three important submissions pertaining to manufacturing.”
One firm identified was Electrofab (St. Kitts) Ltd which has been encountering difficulties based on a large debt burden.
“Cabinet has made a number of recommendations that should ensure its continuity as a manufacturing plant in St. Kitts and Nevis,” the Prime Minister stated. “We also have looked at the company [Harowe Servo] in Sandy Point, providing yet another [round of] concessionary support for its continued activity as a manufacturing entity over the next 10 years.”
Prime Minister Douglas also revealed that technicians from St. Kitts and Nevis and Brazil are busy carving out the details of the Partial Scope Agreement that will allow local manufacturing exports to enter the South American country with duty concessions.
“We expect them to have completed the process by the end of June,” he disclosed.
These measures are in line with Government’s aim to boost manufacturing exports by 60 percent over the next few years.
“Manufacturing in St. Kitts and Nevis’ economy is important to us,” Prime Minister Douglas declared.