The Dominica Association of Industry & Commerce (DAIC) has announced its inaugural Post Budgetary Luncheon, scheduled for April 2, 2025, at the St. Alphonsus Parish Hall in Goodwill, beginning at 11:00 AM.
A press release from the DAIC described the event as facilitating a platform for leaders in both the public and private sectors to engage in discussion about the 2024/2025 National Budget and its ramifications for businesses within the private sector. Registration for the luncheon is currently open.
According to its statement, the Chamber considers this event timely in its endeavour to provide a deeper understanding of the National Budget address delivered by Dr. Irving McIntyre, Minister of Finance, Economic Development, Climate Resilience, and Social Security, on July 26, 2024, entitled “Partnering to Build the Platform for Sustainable Growth and Development.”
In his address, the Minister outlined the vulnerabilities of our region to the trickle-down implications of broader international variables, and their effects on our local economy.
“We in the Caribbean continue to be disproportionately impacted by climate change and external shocks. The wars in Eastern Europe and the Middle East, global health crises, and the debilitating effects of disasters undermine social stability and economic performance. These major events are causing supply chain disruptions and increasing costs of transportation, making it difficult for Small Island Developing States like Dominica to import essential goods at reasonable costs, contributing to inflation, which profoundly impacts the economy,” he explained.
Following this, on January 8, 2025, Prime Minister and Minister for Investment and Governance, Roosevelt Skerrit, shared his perspective on the nation’s economic strategy during an interview on State-Owned Radio DBS, stated the press release.
He remarked, “We have seen an increase in the corporate tax in Dominica, this is why we are looking in 2025…at addressing the corporate tax and maybe reducing it from what it is at 25 percent now to lower, so that we can keep more money in the private sector at hand and we hope that they can invest more so that we can increase the tax base of the country.”
The Prime Minister also noted that 2025 would bring further review of the minimum wage.
Along those lines, the Government of Dominica announced in the 2024/25 Budget Address the formation of a Public-Private Sector Committee to address critical economic and social issues, particularly those related to the minimum wage rate.
This committee is responsible for conducting thorough analyses and providing informed policy recommendations that balance the needs of both the workforce and employers. The committee has been established and assigned eleven (11) critical economic challenges, as reported by the DAIC statement.
Given these developments, Ms. Ashma McDougall, Executive Director of DAIC, has highlighted the importance of this initiative, describing it as a significant forum for examining the effects of the national budget on the economy.
McDougall stated, “The evaluation and monitoring of the national budget’s impact is vital for informed decision-making across both the public and private sectors.”
‘While we have often met in pre-budgetary forums, it is even more critical to understand the implications of the budget on businesses, industries, and communities to create pathways that will contribute to national development,” she continued.
She further noted that the dialogue is designed to facilitate “transparency and collaboration.”
Mr. Brenton Hiliare, President of the Chamber of Commerce, echoed McDougall’s comments that the Post-Budgetary Luncheon presents a unique opportunity for stakeholders to gather and discuss the national budget and its broader implications.
He stressed, “The Post-Budgetary Luncheon offers an extraordinary opportunity for stakeholders to come together, reflect on the national budget, and explore its far-reaching implications.”
“We look forward to vibrant, meaningful discussions that will inspire innovative solutions, drive economic growth, and build a stronger future for our nation,” concluded Hiliare.
Event Details:
– Date: April 02, 2025
– Time: 11:00 AM
– Location: St. Alphonsus Parish Hall, Goodwill
– Organized by: Dominica Association of Industry & Commerce (DAIC)
Registration for the Post-Budgetary Luncheon is now open, with options for both in-person and virtual attendance. Interested individuals and organizations are encouraged to complete the registration form available at Post Budgetary Luncheon Registration by the deadline of March 28, 2025.
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