$15-million facility for manufacturers to be announced in National Budget

The Prime Minister spoke at a town hall meeting in Newtown

Prime Minister and Minster for Finance, Roosevelt Skerrit has revealed that in the upcoming 2017/2018 National Budget Address, a $15-million facility will be announced for manufacturers on the island.

He spoke at a Cabinet town hall meeting on Monday evening at Newtown

“I would like to inform you, the people of Dominica, that in this year’s budget, we are providing some $15-million to manufacturers of Dominica. That $15-million will be at three percent interest rate with a twelve month grace period, which means that you will not pay any interest or principal before the year is up,” he said.

Skerrit added that there is “nowhere in the Caribbean” that the interest rate on a loan of such magnitude can be found other than in Dominica.

He added that the budget for marketing Dominica will be increased as there is a notable increase in the number of stay-over visitors to the country, hence generating more jobs and economic activity.

“This year we are increasing the marketing budget for tourism…from $8-million to $12-million. There seems to be a historical increase in visitor arrivals, stay-overs, for the quarter of this year, unparallel to any year before. The more rooms that are occupied in Dominica is the more jobs for Dominica, more economic activity for Dominica, and better for all of us in Dominica,” he stated.

Also included in the 2017/2018 National Budget is more provision for upgrading the human resource capacity of the country and an entrepreneurial support program, according to Skerrit.

“In addition the small business assistance which we continue to do, we will be announcing a special package of measures for entrepreneurs, to build a culture or spirit of entrepreneurship in Dominica, and we will articulate this in a more detailed fashion when I deliver the budget address on behalf of the government and the people of Dominica,” Skerrit said.

With regard to human resource development, Skerrit said efforts are being put in place to have more graduate degree holders in Dominica and will include a special program targeting persons wishing to pursue an education in fields that are of “national priority.”

“What we have found with the government’s revolution to access to tertiary education, we have seen a dramatic increase in the number of Dominicans with first degrees, but giving a second degree to really get the real in-depth knowledge of the area of discipline. So, we will be launching a special program to target the people interested in doing their masters degrees, but these national degrees must fall within national priority. So it is not what you want to study, but it is what the country needs,” Skerrit remarked.

He noted that there must be some form of reward to persons who return to the country after studies to render their services towards the development of the Dominica.

 

 

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19 Comments

  1. tololfa
    July 12, 2017

    More graduate degree holders for what Skerrit?? yet you have public servants with Masters degree in their field of work not getting paid for their degree. Give me a break tan!!!

    • Voice of Reason
      July 13, 2017

      Until the government understands and accepts the fact that the country is continuing to experience a massive brain drain, it will continue making those promises and probably even throw needed money at a few in an effort to justify his education revolution.
      There is a number of experienced, talented, qualified and patriotic Dominicans in the diaspora who are willing to be of service to the nation, but the government continues to make it rather difficult to even consider returning home and contributing to the development of their beloved country.
      While there is a growing need for qualified and skilled resources, incentives to return home are seemingly nonexistent.

      Celebrating the increase in stay-over visitors is a bit premature. Just imagine the outcome if our house was in order – Infrastructure, resources, good public policies, etc.
      As the leader of the country, the Prime Minister continues to believe, falsely, that he is the smartest man in room, a recipe for absolute…

  2. Anthony P. Ismael
    July 12, 2017

    I’m more concerned about the Ad Campaign for Dominica, its design, when and where it will be aired, the target audience, their age range and disposable income. Was any bench-marking done, in comparison to our neighbors who have similar offerings with a much easier mode of travel to arrive at their destinations? How are we positioning our tourism product to obtain the best bang for the buck? These are the finite points that true discerning patriots want to know. Will this Ad Campaign aid hoteliers on the island by increasing the total number of stay-over tourist on the island for the 2017 tourism season? These are just a few of my questions for these proposed monies that will be spent on Tourism Advertising.

    • Ras Ju
      July 15, 2017

      Very good points. I wish you could have the ear of the people responsible for implementing the program and your points taken into consideration.

  3. Dominican
    July 12, 2017

    Mr PM you should not be competing with financial institutions on the island that’s a recipe for disaster. You should concentrate on job creation so that people can take their regular loans to keep these institutions alive hence boosting the economy.. I know you are not a finance major and I don’t expect you to be. What I don’t get is why the finance majors on your team and on the island do not correct you. You may be trying your best but you are not the expert here. I hope its not because they advise you and you do not listen, that’s another recipe for disaster. This is the kind of information Linton and the opposition should be working on and not beff. Could it be because they have no better intention? Sad mentality on this island. :(

    • Anthony P. Ismael
      July 12, 2017

      What you speak of is not merely beff. Instead, it’s a case of continued gross incompetence on the island and a need to always be the loudest mouth in the room. Someone once told me to take a step back sometimes in difficult situations. It’s not a sign of weakness, but instead it’s a sign of strength. With all the monies that are being shared out like hot cakes, we have not heard from the likes of Senator Blanchard, who is a trained Economist. Less we forget, Skerrit is always speaking to his base. And while their intentions are good, they lack the interest or understanding to comprehend the damage that he is doing by competing with the like of the Aid Bank and turning the DLP into a “Freeness Bank for a few Red Supporters.”

  4. anonymous2
    July 12, 2017

    Manufacturing what?? Where does Skerrit come up with this stuff. He must have no conscience.

  5. Pragmatik
    July 11, 2017

    It would be nice if you could also reduce the import duties. It’s one of the major concerns for anybody doing or planning on starting or doing any business let alone an industrial venture. These duties cripple the average person who wants to create something for themselves. And no having to go and suck up to some Parl Rep to get a duty free is not a solution. Even the IMF report this year alludes to something along those lines.

    “Efforts should, therefore, focus on the removal of costs and barriers that affect investment decisions and profitability,”

    https://dominicanewsonline.com/news/homepage/news/business/dominicas-fiscal-outlook-has-deteriorated-despite-cbi-revenue-imf-report/

    • anonymous2
      July 13, 2017

      Unfortunately, they have no plans of ever doing that. They just hold the rest of us captive for our stuff that has to be imported.

  6. dissident
    July 11, 2017

    Yes I pinochio. ….
    $8 to $12 million just for tourism marketing. ……..ok.
    And $15 million for manufacturing?
    1 serious manufacturer can use up half the entire allocation for one business venture!

    What a load of crap!

  7. July 11, 2017

    An increase is always welcome! Nice going PM, really looking forward to your budget presentation.

  8. July 11, 2017

    Chupes

  9. LifeandDeath
    July 11, 2017

    First of All, DNO this title is misleading. I thought that Government was proposing a state of the art structure/facility to help manufacturers by pooling some of the essential services like machinery, equipment or packaging that small manufacturers would not be able to afford otherwise. so the title should read:

    $15-million LOAN facility for manufacturers to be announced in National Budget.

    Now on to the Skerrit issue. How is it that Skerrit and the DLP aren’t thinking outside the box?..isn’t this the same loan facility that was set up for Agriculture and Hotels sector? How is that going so far? Are people taking out loans? or are people meeting the criteria for accessing such loans? Gov’t or the Banks must begin to monitor these projects and report on whether they are having the desired effects..or are these just a government acting busy? I hope the best for the economy of Dominica.

  10. Roger Burnett
    July 11, 2017

    “Prime Minister and Minster for Finance, Roosevelt Skerrit has revealed that in the upcoming 2017/2018 National Budget Address, a $15-million facility will be announced for manufacturers on the island.”

    Correct me if I’m wrong, but in this context I would have taken the word “facility” to suggest plant or equipment, rather than a bank loan.

    True enough, a bank loan may “facilitate” manufacturers but at the end of the day it has to be paid back, no matter how low the interest rate or how long the grace period.

    Titiwi, this is one for your mastery of English/American usage.

    • Chester
      July 11, 2017

      Politcians Roger, politicians.
      Rember (pardon my spelling) he studied 7 to 8 years for his “doctorate”? lol lol

  11. Anthony P. Ismael: Minister of Free Pampers
    July 11, 2017

    It’s not the money spent, but the economic plans behind it that counts. Less we forget, you spent $50,000,000.00 in Laudat on Geothermal energy and you have yet to produce 1-Kilowatt of energy from that investment. You spent another $140,000,000.00 on that national disgrace called Charles-Douglas and before two drops of rain fall, travelers need an “Ark” to traverse the Marigot area. How much was spent on the Abattoir in Layou? You did not identify the number of sustainable jobs that will be created. This is yet another give away to the Labor Cabal. That’s why Sambo was singing like a member of the national choir today. He know his share coming soon.

    • July 11, 2017

      The National Abbatoir is making headway. Jobs have been created and the young men and women of Roseau, Warner, St Joseph and the southeast have taken up the day to day operations of this establishment. Chicken and pork meats are distributed regularly to supermarkets island-wide and the employees still come down to the city’s market with meat. The abbatoir is one of the next big things for Dominicans, soon we will stop the imported chicken and pork, and enjoy local!

    • Proud Dominican
      July 11, 2017

      That’s a nice name you have

  12. Anthony P. Ismael: Minister of Free Pampers
    July 11, 2017

    This more cheap political rhetoric by the Pampers Prime Minister. You’re sharing out the country’s largess for a few of your cronies as usual. How many sustainable jobs will be created with this effort? Just yesterday Kenneth gave out $40,000.00 to two fishermen in his village to purchase an ice machine. Ms. Daniel gave out $600,000.00 last week to Red Supporters on the West Coast. To the untrained eye, this sounds impressive. To the trained eye, it’s more political foolery on your part. Unemployment is sky high on the island and you bragging about a mere 15-million dollars.

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