Parliamentary Representative for the Roseau Central Constituency, Joseph Isaac has cautioned the government on how it goes about spending monies from the Citizenship By Investment (CBI) Program.
Addressing the Dominica Manufacturers Association (DMA) 6th Annual General Meeting (AGM) held at the Garraway Hotel earlier this week, he spoke about the “reckless” and “unplanned spending” of CBI monies and suggested some of it go towards companies that have an immediate impact on employment.
“We have these companies which can make immediate impact of getting the export numbers, an immediate impact in terms of employment, so I think we should be careful how we go about in terms of implementing the drawdown on the CBI money,” he said. “What we should do we should set priorities.”
Isaac gave an example.
“A practical example would be a grant, but the grant there would be used to have an impact for at least one year on wages,” he stated. “So for example instead of the National Employment Program where the government is actually employing the person, you give the private sector a grant, they advertise what job or what skills they need and they employ who they actually want to employ aligned to their goals and objectives, and then the person would be motivated by them.”
Isaac mentioned further that in terms of working capital the private sector, especially the manufacturers have always struggled with that matter.
“I think we should embark on immediately moving into a line of credit with just about 1 percent which will just cover administrative cost so that the private sector, the manufacturers can bounce back quickly and to meet the goals set by the executive branch of, let’s say the 5 percent per year,” he explained. “In terms of the technical support we could focus on packaging upgrade, equipment selection, so you focus that technical assistance in those areas,”
Meantime, he said the country should embark on a comprehensive product development and branding initiative to ensure that it get market access to some targeted markets.
“We need to set priorities, train our individuals and also look at the issue or initiatives of tax credit for those companies,” Isaac noted.
I would add to that list, market research targeting local product development as well in addition to an effective ad campaign. Well done Mr. Isaac.
Frances,you sound like a brainwash shilling ford. r
Let me clearly state that mr Isaacs advice is a retrograde step in economics. What Government raises money to give grants to private sector for employing people . That’s rubbish from mr isaacs mouth . Maybe you ant the Govt to lend money at a low interest rate to struggling businesses on the island to help them get ahead but they cannot take grant money to employ people where they want in what job they want so who gets the profits from these private institutions that the govt is going to give the grant to.
I think that transparentcy is what the UWP folks are asking for. And what is wrong with that?
AA but u not easy
u age up
zor pas feb nor
skerro for so
This is just what this labour party have created in dominica , Brainless individuals , Such a brilliant idea from Isaac ,But still negativity kicks in, My God, see how our level of intelligence have fallen so low,
This is oppression ,at its highest level, and God is not pleased
maybe not
Mr. Isaac usualy likes to just say whatever comes to mind, without thinking through too much. what he is proposing about the employment is the exact same thing as the NEP, but just that the money is given to the employer to pay the employee. Although im not a laborite, nor a worker, i see problems in that employees may not be hired by some in reality. Also, i believe in terms of technical support, packaging upgrade is not a problem, packaging can be easily sourced, however some are more expensive than others. Equipment is very important however if he was cognizant of the majority of manufacturers he would know that most of them operate from their kitchens or back yards. their facilites ARE NOT SUITABLE! A facility is needed that can be shared amongst producers. A facility that can grind, pasteurize and juice, can, dry, powder, distill and bottle at least. that way all those doing dried fruits can share the drying section at a price off course. shared facility for a price.
Whether “reckless and unplanned” or planned in the usual way, government will have no more success “investing” CBI money than any other money. You can talk about borrowing at 1% to produce 5% growth, or any other “multiplier effect” to explain why government spending $100 will make someone else spend $500, but government simply does not know whom to gift. Politicians’ goals are to look good, improve national statistics, and get re-elected forever, touting promises from companies about what they will do 5 years from now. Politicians will create many jobs (votes); companies need to get WORK done with the fewest jobs–and will not take good care of free money from government. Politicians should just get out of the way. Or especially, get to know the CBI applicant and put him in touch with a local businessman who could use a new perspective.
Amen to that Spike! Politicians.
I suspect the way they plan to seize power to be next government is forcing this Gov’t hands to use up that money so the new fellas won’t have that financial leverage. If they were less violently charged like most oppositions in the Caribbean, this gov’t could sit and think this thru to create more bang for the Bucks.
One example is to remove custom duties on building materials and automobiles to stimulate the construction industry, auto industry on a whole and propel the economy exponentially, as in St. Marten etc., then CBI money could be used to cover the short-fall from the duties. Bold steps like these have to be taken but only if gov’t is presented with a less violence-charged political atmosphere to do these things. So I suspect they feel compelled to spend the money with a treasury-emptying effect just in case the other fellas take over the gov’t. I agree there’s no guarantee private sector will employ more people with free money.
Well said, nice take.
Amen to that Spike! Politicians.
I suspect the way they plan to replace the government is forcing this Gov’t hands to use up that money so the new fellas won’t have that financial leverage. If they were less perceived as violent, like most oppositions in the Caribbean, this gov’t could sit and think this thru to create more bang for the Bucks.
One example is to remove custom duties on building materials and automobiles to stimulate the construction industry, auto industry on a whole and propel the economy exponentially, as St. Marten etc. have done, then CBI money could be used to cover the short-fall from the duties. Bold steps like these have to be taken but only if gov’t is presented with a less violence-charged political atmosphere to do these things. So I suspect they feel compelled to spend the money with a treasury-emptying effect just in case the other fellas take over the gov’t. I agree there’s no guarantee private sector will employ more people with free money.
I love your analysis. You made some great points. Given the state of affairs in Dominica, the discussion is a good one.
I thought CIB money was bad money and UWP wanted the programme stopped at all cost? All of a sudden, they know of ways it can be used? after all the disturbance and distructions they have already caused? really, really, somebody please explain
Mr. Issacc statement clearly says that all the daba they causing is their chance they want to put their hand on CIB money to do what they want with it. The PM giving people jobs and he want the money to give private sector to do what they want…. magwaasa…..is start they start to daypalay, more will be revealed, wait and we will see and hear
The UWP never say they want the program stop u idiot. Run a search on DNO.
The UWP has been calling for more transparency in the program: how many passports were sold, to whom, where are these people from, how much money each agent makes, who are the agents? They think that there are too many things that are not made public.
Every month Antigua makes public information on their program. Here in Dominica the government wants you to go the gazette and search name by name. Plus the gazette doesn’t give all the information about all passport transactions.
It is people like you with your ignorance, according to Dr. Peter, that keeping the country down. Geez.
Anon all agents are listed on the government website, I do not need to know how much money the agents make, that’s a none issue!!!! Citizenship has been selling from since 1993, so why now all the concern about how many persons have the economic citizenship????
From my recollection the only time Dominica was placed under international scrutiny was in 1999 when Eddison Jame of the UWP was PRIME MINISTER of this Island…. Their bad handling of the program led Canada to impose Visa restrictions on us!!!!
So far this CBI program has been bearing good fruits and not ONE international country has posed sanctions on us in fact they have released us from visa entries… Imagine we can travel to FRANCE without a VISA!!!!!!!! do your home work and stop spilling BS!!!!
U lie.
Then go Antigua, just saying………………….
Hehore, hehore the money have them BAZOODY. PM, ba yo bwa mwen dee
Ba yo bwa mango, bwa yam paen, citerre et toute vieux bwa flow
Se pou yo trouvé asay sann à bwa, pou yo PARLAY TOUTE LA JOURNAY comme labetille
Mwen dee pa ba yo bon bois, fer yo PARLAY SAN OU toucheé yo
Sa say mette WAYPONSE.
Don’t worry with shillingford, he is a national moomoo, look the president of the DSC just said the ignorance of Dominicans is getting very high and dangerous, ‘ exactly what he was talking about.
Hooefuuly this is the kind of ignorance that Donsld Peters is talking about. It would be a great thing if Donald Peters would reference these kind of comments
The CBI Program in a nutshell.
A government minister was talking a stroll in the Botanic Gardens when he was accosted by a thief. The bandit demanded: ‘”Give me your money!’.
The government minister replied haughtily: “Good heavens my man. No! I am government minister, you can’t rob me!’.
The bandit replied: “Government minister, you say? OK give me MY MONEY!”.
Of course!!! you think that the CBI money is Skerrit’s own? No!! The CBI money belongs to us Dominicans. not a bunch of lazy labourites like you just satisfied to run to the red clinic and beg for alms. We need Jobs we need economic growth we need sustainable development. Thats where the CBI monies should be put to use.
Frances’s u must be one of theses who went to school on weekends and also left school without achieving much. continue to beg but Honarable Isaac is twice more intelligent than u and skerit put together.
He Skerrit will not listen.The lavish spending is to divert attention from the MONFARED matter,and to gain sympathy..Well lets see what he gives to the public servsnts.’
The private sector cannot be reflective of the partizan nature of Dominican politics, if this advice was heeded, for any chance of success
Alas, it is probably too late for this to happen as resorting to emotive ignorance and handouts are far more appealing to a lot of Dominicans rather than the application of factual logic and real jobs.
So that your family and my family can have employment to pay taxes.
Here is a Dominican Citizen giving sound and solid advice on how to stimulate sustainable economic growth by targeting the Country’s limited resources into areas that create real long term employment and bring in foreign exchange revenues. Yet, we see the responses of Labour Party supporters such as Frances Shillingford and “Shana” reducing this sound advice to petty and insulting politics by insinuating that Mr. Issac (The patriotic and wise Dominican Citizen, Elected Parliamentary Representative of Roseau Central) is basically asking Roosevelt Skerrit (Their Lord and Saviour) to pump money into Mr. Isaac’s business. The advice was somehow above their intelligence threshold so they tried to bring it down to their level of gutter politics. It is this scourge of ignorance that leaves this Country in economic stagnation… Labourites who believe that the Prime Minister has a personal money tree and that we all must go to him and beg or else! Sad indeed!
Calm down my friend. Dominica is dead and buried economically. It is an importing country. Even fish for its restaurants are imported from Miami!!! Dominica will never become an exporting country for anything that can remotely compare to the selling of its passports at $80M per month.
Get real folks, try to get Dr. Skerritt to give every Dominican an agency to sell passport and get in on the act. Dr. S did it, didn’t he? He is a millionaire now. Ask him where he got that kind of money from? Better yet, ask GON Emanuel, or his estranged colleague, Mr. Isidore. If you have a few days to spare, they can tell you all about how you can become a millionaire via passport sales and government service.
The people of a country get the government they deserve and Dominica deserves Dr. Skerrit’s CBI economy 100%.
So Doctor Kermit before today you never heard of the Kempinski Hotel being built under the CBI Program??????
These are commonsense ideas we should have been getting from the government a long time ago. Instead the come out always angry and belittling public intelligence.
Shaka Zulu if you listen less to Q i think you would have been aware of all the progress the CBI program has brought so far to our economy… Kempinski is one such idea….
“A practical example would be a grant, but the grant there would be used to have an impact for at least one year on wages,” he stated. “So for example instead of the National Employment Program where the government is actually employing the person, you give the private sector a grant, they advertise what job or what skills they need and they employ who they actually want to employ aligned to their goals and objectives, and then the person would be motivated by them.”
That Statement makes absolutely no sense!!!!! Question: What is the size of grant does Isaac have in mind? From what he said there i realize he has no idea how the NEP works, niether is he interested in the transparency and control over the CBI funds…. go figure what i am saying!!!!!