AID Bank sets eye on Asian market for manufacturing sector

Charles said the Asian market is an emerging one

Chairman of the AID Bank, Martin Charles, has said the institution is eyeing the Asian market as an opportunity for manufacturers in Dominica.

He described the Asian market as an emerging one which “we probably took for granted.”

“I believe that we’ve been making progress as it relates to manufacturing in Dominica but there is an important emerging market for our manufacturers in Asia for example that we are going to seek to work with our manufacturers to enable them in packaging or to improve the quality of their products in order that we can tap on this emerging market in Asia,” he stated.

Charles pointed out the AID Bank is poised to assist manufacturers in tapping into this new market.

“The prospects are there and the manufacturers, in particular, will be excited about this opportunity when it poses itself later this year,” he said. “So we as the bank would like to ensure that we give the manufacturers the requisite working capital, be it for raw materials or otherwise to ensure that they are at a certain standard so that when the door is open that Dominica will be ready for export.”

Charles also revealed that in 2018, the AID Bank will be looking “into areas where we have not tread before.”

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36 Comments

  1. Jeff Winston
    January 13, 2018

    You all cannot take a joke?? It was supposed to have been announced on April 1st.

  2. no face
    January 12, 2018

    Sure Mr Charles we could probably export some of you comedians to Asia and some of your verbal diarrhea with ton of toilet paper.

    • Anonymous
      January 14, 2018

      Yeah, make it double sided toilet paper, a Dominican invention!

  3. viewsexpressed
    January 12, 2018

    Can someone translate this nonsense to common-sense for us please. Is this really representing Dominica or Maria?

    “I believe that we’ve been making progress as it relates to manufacturing in Dominica but there is an important emerging market for our manufacturers in Asia for example that we are going to seek to work with our manufacturers to enable them in packaging or to improve the quality of their products in order that we can tap on this emerging market in Asia,” he stated.
    1. “Making Progress…?” Where, and How?
    2. “important emerging market for our manufacturers in Asia for example that we are going to seek to work with our manufacturers to enable them in packaging or to improve the quality” Mr Charles, that is an Oxymoron …meaning this makes no sense. Are you awake, dreaming, or has Hurricane Maria hit your hard where it hurts:? Charles what crap is this? Arte You trying to divert us Dominicans from some level of distraction where things are really not working out?…

    • UKDominican
      January 14, 2018

      Amen, what progress have we made, especially since Skerrit is at the rudder. What manufacturing industries are left in Dominica and how much of their output is exported? Time to be honest with ourselves. Even before Maria and Erica we were import in fresh produce. from the USA, with the approval of our own Ministry of agriculture.

      • thethingswesay
        January 15, 2018

        the thing is he thinks packaging is the solution to our manufacturing problems! what a fool. Packaging is the last problem. the first problem is access to financing. Second is upgrading facilities and improving productions standards and increasing production output. You can never access certain markets and be placed on supermarket shelves unless you produce are a certain standard. Be it CROSQ, HAACP or otherwise.

  4. Progress
    January 12, 2018

    I would just purge the entire AID Bank management. Martin I myself don’t know what you are babbling about. First order of business, that acting GM,…….. need to go. Second, we need to purge that bank and put solid management in there. Management in there is too weak and the decision making is non existent. How are you going to tap into an Asian market when you guys don’t have the capabilities of simple simple decisions in Dominica. Baby steps before u run.

    • Ex sraff
      January 13, 2018

      I am reading the comments and all what is said hits the nail. Martin as chairperson you really ought to deal with the hr issues at the bank. We are we so backward in Dominica. A few years ago the bank spent a lot of the people of Dominica money and hired an expensive firm to do an HR audit. In Mr Corbett interview to the media he mentioned that was on of the reasons he wanted to stay on. One major highlight of the audit was that one of the major problems was a senior manager. What did you do Martin, u promoted her last year to act as general manager. Why? She has been a disaster to the bank but you have turned a blind eye. How do you expect to make a positive impact in Dominica when the root of ur issues, management is not being addressed. Staff come just to get paid because they are not motivated. And the customers feel that through the bad customer service. You guys fought hard to get rid of Mr Corbett and put an acting gm 100 times worse, just ask staff and customers.

  5. Mike
    January 11, 2018

    AID bank have failed Dominica, Dominica cannot even supply Guadeloupe and Martinique much less Asia, Dominica have too many educated fools in positions of power. AID bank is a poster child of why Dominica is in such a state

    • Shameless
      January 12, 2018

      @Mike…..Could not have said it better.

      Mr. GABA (Charles) have me :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: my behind off with his BS. I doubt he actually believe what he is saying :mrgreen: :mrgreen: . These smart-fools really believe that they are fooling Dcan eh :mrgreen: :mrgreen:

      Assertive like Mama Maria! :twisted: :twisted:

  6. Real!!!!!!
    January 11, 2018

    Martin is as incompetent as Skerrit.

    1. What could we supply the Asian market which is low cost basin with a return on investment?
    2. We don’t have product scale to supply this market or for any Asian distributor to be interested in moving these products in his market .
    3. What products of Dominica is in demand in Asia?
    4. Or are we going to assembly products in a Dominican factory for an Asian company, so the company can supply their Asian market?…Best I could think of but with low cost of labor in Asia I am unable to see us being anywhere competitive.

  7. marie-claire R Skerrit
    January 11, 2018

    Mister need to get edified on the subject he is speaking of because clearly he is speaking garbage right now

  8. Truth Be Told
    January 11, 2018

    Are you guys really and truly cookoo? You do realise that Asia’s growth and emergence have been mainly because Asia has become the manufacturer or factory to the rest of the world? There is not one product that we could produce; grow or manufacture here in Dominica, or the Caribbean for that matter, that would be competitive on the Asian market. Please do some serious research before talking such nonsense!

    • dee
      January 11, 2018

      Mr Charles
      Where you going with that nah ? what is your ulterior motive ?
      what is in the air ?
      I am just so suspicious .
      I suspect Da going to look at manufacturing Doctorates .
      We not stupid you know

  9. J.John Charles
    January 11, 2018

    Mr Charles must be dreaming.Before Maria we could only export a few agricultural produce to our neighboring islands,so what is he talking about? .is he going to buy a jet or a boat to ship air or his words to China,Vietnam or India?.

    • Rubbish
      January 12, 2018

      They will travel and claim all their travel expenses. That is all they love to do..

      • Me
        January 13, 2018

        Don’t forget the “per dime” that is making all these boys and girls make unnecessary trips.

  10. zandoli
    January 11, 2018

    What can we possibly export to a low cost region. We would probably be more successful selling ice to Eskimos.

    What advantage do we possess that will allow us to ship products around the globe? What kind of economies of scale do we have that will give us a cost advantage?

    Seems like a lot of hot air, if you asked me.

  11. thethingswesay
    January 11, 2018

    FIRST of all Mr. Charles, you are a fool. And your think everyone else is a fool also. LEt us look at the state of YOUR bank’s Industrial Site. How many many manufacturers are housed there? Too many of our agro processors need a facility with surroundings that is UP TO DATE, CLEAN, and READY for USE. To my knowledge the Manufacturers Association has been begging your bank for a shed that can be shared by a number of manufacturers but to date your bank politics has brought nothing to fruition. The government has claimed to put millions in your bank for manufacturers at 2% but your terms and conditions make it IMPOSSIBLE for our local manufacturers to access the finances. AID Bank you operate more like a commercial bank than which you were established to do. You make millions in profits each year yet the infrastructure at canefield is absolutely disgusting and not what Foreign investors are impressed by. IF not for Clear Harbor in fixing that one road to their sheds and planting…

    • thethingswesay
      January 11, 2018

      foliage in their immediate area all your would see is old roads, old vehicles, old everything. ITs like you people have no self esteem or class. GO to Barbados and Jamaica and see what a real industrial site is supposed to look like. Now you want to be talking about manufacturing? OH! let me guess Mr. Charles, one of those chinese you like running behind coming dominica to set up another factory. and our locals are left by the way side. Try establishing proper facilities geared towards food production and processing etc. Speak with the Bureau of Standards and other relevant people like the DMA and see what is needed locally. before you run behind China. I dont know how you people think.

      • thethingswesay
        January 11, 2018

        I URGE the Canefield Urban Council to demand a rehabilitation of that area especially the DOnkey Beach which was a prime recreation are for the people of Canefield and Environs. Now it just garages and body shops on the waterfront made from rusty galvanize and 2×4. SHAME! Donkey beach should be a prime tourism destination set up with quality bars an eateries and gift shops. A place where the workers of the industrial site can come and relax peacefully and a scenic serene atmosphere that reflects what we call ourselves “The Nature Isle”. Not trash and rusted waste. Mr. Marshal is operating a very successful business with his beach bar. Ship Wreck used to be successful. people still use the beach because they have no choice. But The Aid Bank has destroyed that area. Daniel Green would have been appalled at its state today. A reflection of what goes on at the bank i guess. No class.

      • January 12, 2018

        Stop demanding and put forward a plan for consideration. It is so easy to be negative.

      • Anonymous
        January 13, 2018

        Point, go and have a look at that sorry mess donkey beach has become andtell us if that is positive. Your emperor definitely has no clothes but you guys don’t want to see.

      • Anonymous
        January 14, 2018

        Dominica resembles a garbage tip right now.

  12. derp
    January 11, 2018

    but Astaphans already doing that, they have their own branded products Made in China

  13. famgdp
    January 11, 2018

    I think in my country we like to just blurt stuff out. We have adopted an “it sounds good…let me say it” mentality, especially after Hurricane Maria

  14. January 11, 2018

    I wonder what we can manufacture that would be in such great demand in Asia as to be worth the transportation costs and lack of economy of scale. (I’m not trying to seem negative, if there’s a good answer I’d love to hear it!)

    Developing the BPO industry seems like a better bet, since Dominicans are already well-educated English speakers in a compatible time zone as North America.

    • thethingswesay
      January 11, 2018

      Our local jasper alone is in very high demand. That is a fact. Our coconut oil and vertivert for cosmetics and body products. DOminica is a gold mine rich with valuable resources. WE just dont see the value a lot of the time.

      • Anonymous
        January 11, 2018

        So how come the majority of our people are dirt poor? Apparently becoming independent didn’t help that either.

      • January 12, 2018

        Well all of us in Dominica blind and stupid since none of us can see the abundance of marketable rich resources of which you speak.

      • thethingswesay
        January 12, 2018

        Anonymous because we lack the means of production. WE are abundant with fruits and land to grow fruits, but who here has a juicing factory or pasteurizing plant? Our seas are rich with sea food but who here has a canning and drying facility? The average Dominican is barely surviving to live from month to month much less to raise the capital to establish these kinds of operations. Our biggest manufacturers. Our reasons for becoming independent would need to be explained by those who pushed for it at the time. Maybe it was solely power hungry dominicans selfishly taking advantage of a situation.

      • Me
        January 13, 2018

        I suggest we start canning ou passports to preserve their shelf live.

  15. UKDominican
    January 11, 2018

    Keep on dreaming Martin. I am a Dominican, who has a lot of love for his country but would not invest a cent under the present regime. No doubt the Chinese will come and probably set up light- assembly facilities, mainly to get round duty problems for Caricom markets but they will want concessionhs, keep control and definitely do not need your little bank, which is under government control.

  16. Jah Kal
    January 11, 2018

    Martin what a u talking about .

  17. mouth of the south
    January 11, 2018

    no mention of what markets??? “later this year” is enough time to prepare for, if one knows b4 hand what markets needed to target…

  18. Paul Rossnof
    January 11, 2018

    Which manufacturers? There are none. What are you talking about? Mr. Charles, with this speech you confirmed to me something that I already knew before, you have not got a clue what you are doing and your employees aren’t any better either. A couple of years ago I had some dealings with your bank. The experience was painful to say the least: staff don’t answer the phone, they don’t call you when they told you they would, the vast majority is totally desinterrested in what they are doing, most of them don’t know what they are doing, some of them are rude and aggressive. This on its own points at a poorly managed organisation. I guess that’s what happens if the PM of a country puts his people in all the key positions. Quality goes out of the window.

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