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Published byLynette Cox Modified over 9 years ago
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Presented By: José Rosa General Manager Kajola-Kristada, Ltd.
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Manufacturing Sector – Saint Kitts and Nevis Strengths Sector Composition Economical Indicators Strengths Challenges & Opportunities/Initiatives Agenda
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Saint Kitts & Nevis Manufacturing Sector Composition Constituted by local and foreign manufacturing companies Approximately Eighteen (18) different manufacturing companies 90% of the companies have operated for over 10 years in St. Kitts and Nevis Manufacturing companies categories. Light Electronic & Electrical Servo motors, switches, telecommunication and cable TV devices Beverages Beer, soft drinks, water, rum Apparel Uniforms, General Clothing Furniture Masonry, Windows and Doors Agro processors
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Saint Kitts & Nevis Manufacturing GDP Impact Trend
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Percentage of GDP By Business Sector 2012
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Saint Kitts & Nevis Manufacturing Selected Economical Indicators Relevant Data Employees - Approximately 2,000 in 2012 Exports (Currency =XCD million) 2010 – $139.81 $110 – Electronic/Electrical $6.62 - Beverages 2011 – $163.42 $121 – Electronic/Electrical $9.03 - Beverages 2012 - $166.66 $132 – Electronic/Electrical $10.12 - Beverages
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Saint Kitts & Nevis Manufacturing Strengths Stable political, social, economical and business environment Business incentives and fiscal exemptions for local and foreign investors Low cost producer relatively to USA and other developed countries Free trade agreements and international initiatives to facilitate the free movement of goods Caribbean Single Market Economy (CSME) CARICOM European Partnership Agreement (EPA) Caribbean Base Initiative
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Saint Kitts & Nevis Manufacturing Strengths (cont.) Strong Human Resources base Trainable Experience in manufacturing Adaptability to meet markets demands Adequate infrastructure Diverse air and sea transportation services Proximity to USA, South America, Central America and Caribbean Markets
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Saint Kitts & Nevis Manufacturing Other Important Facts Saint Kitts & Nevis Manufacturing Other Important Facts Bring new technologies Continuous employee training and education Create stable jobs Employees work 40 hrs./week all year Competitive salaries and working conditions Participate actively in the community Education scholarship Sports and entertainment events Support government and community initiatives Maintain competition of cargo rates
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Saint Kitts and Nevis Manufacturing Challenges & Opportunities /Initiatives ChallengesOpportunities/Initiatives Develop a Manufacturing Strategic Plan to sustain and enhance manufacturing sector in Saint Kitts and Nevis National Strategic Draft completed National Consultation to take place during 2 nd quarter 2013 Explore new trade agreements with other countries such as Brazil, MERCOSUR, Central America, Asia Partial Scope Agreement (PSA) between Brazil- Guyana – SKN should be functional by June, 2013 Increased operational costs Utilities (electricity), employees compensation, freight, wages Application for energy audit funds for the manufacturing sector was submitted to The Center of Development Enterprise (CDE) Insufficient local technical support base No advanced technical education such as engineering Working closely with TVET to align technical curriculum and training with the sector needs Sourcing technical resources from the region taking advantage of the CSME
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Saint Kitts and Nevis Manufacturing Challenges & Opportunities /Initiatives ChallengesOpportunities/Initiatives Majority of the raw materials and components have to be imported Explore partnerships and cooperation agreements with other manufacturing sector in the region to increase regional sourcing Compete with countries in and out of the region with lower wages Manufacturing plants are investing financial and human resources to promote high productivity and quality level using LEAN, Six Sigma and ISO tools. Increase automation to reduce labor cost and produce new products
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Saint Kitts and Nevis Manufacturing Challenges & Opportunities /Initiatives ChallengesOpportunities/Initiatives Worldwide decline in manufacturing and economical recession Focus to grow the small manufacture enterprises (SME) Initiated discussion between the Manufacturing Division of the SKN Chamber of Commerce and SIDF to see the availability to obtain capital to incentive this sector Last year started trainings to improve SME’s business knowledge sponsored by the Central Bank (ECCB) and SKN Chamber of Commerce Attract new foreign industries with different technologies such as Medical Devices, Pharmaceutical Increase workforce flexibility and productivity Government to explore alternatives to mitigate the effect of the recession for indigenous manufacturers
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