Importance of the Manufacturing Sector

(ZIZ News) — The key players in the manufacturing sector in St. Kitts and Nevis were, this week, reminded of the Government’s full commitment to developing the industry.

The pledge was made by Minister responsible for International Trade and Commerce, Hon. Lindsay Grant at the Chamber of Industry and Commerce Manufacturers’ Luncheon.

According to Minister Grant, the manufacturing sector plays a pivotal role in the socio-economic stability and development of the Federation.

“The Government of St. Kitts and Nevis is fully committed to the continued growth and development of the manufacturing sector. We know how important this sector is to the socio-economic stability and development of the Federation and as you are aware I’m sure, that this sector has contributed approximately 10 percent of the Gross Domestic Product (GDP) over the last three years,” Minister Grant explained.

He said the sector continues to be one of the leading sources of employment in the country.

“It is the fifth highest contributor to GDP, sustaining over two thousand jobs in the Federation; 90 percent of which are women. This translates to about 10 percent of the Federation’s total workforce and that is very significant,” he said.

Minister Grant said the Ministry will play a leading role in the establishment of the National Manufacturing Strategy and the subsequent establishment of the National Competitive Council.

You might also like