It must be by way of some poetic justice that those who are squarely responsible for putting Grenada in its current economic quagmire are condemned to traverse the world, thumping their chests in a desperate and depressing quest for solutions.
While they boast of generating funds from the sale of their birthright and obtaining Taiwanese haircuts, money still remains too tight to mention.
The unfortunate truth is that it is simply not possible for the current controllers to clean up their own cesspit. They are too busy wallowing in it. The projects that are suggested for 2015 cannot move the economy even if they were to be implemented.
The nauseating proposal as outlined in the Government’s own plans for 2015 is that 3,500 jobs will be created from the following projects:
– Hotel construction and operation;
– Call centers;
– Imani Program; and
– Travaux Work.
Participation in none of these programs require above elementary knowledge. At a time when students leave secondary school with in excess of ten and twelve subjects and three and four subjects from TAMCC there is no scope for them. Not to mention the students who graduate from University with honors degrees.
The cry that Grenada’s problems were a part of some imaginary worldwide financial crisis is now nothing more than a distant mummer since the parts of the world affected by the corrupt banking meltdown in 2008 were bailed out by their controllers and have long since recovered.
Several countries are making the effort to put systems in place and to formulate investment policies and programs in an effort to better the lives of their citizens.
Costa Rica for example has attracted thirty-nine new foreign investment projects in 2014 in the following areas:
– corporate services;
– life sciences;
– light manufacturing;
– advanced manufacturing;
– agribusiness; and
– food industry were attracted to Costa Rica in 2014.
These projects, along with the multinational companies that already operate in the country, generated US$474.4 million and a total of 10,281 new jobs.
From the 39 new investment projects attracted by the country, seven belong to the textile industry, light manufacturing, agribusiness and food industry, and distribution centers.
From these seven projects, five of them chose communities outside the city center to invest in and install their operations.
The life sciences sector – composed of medical devices, biotechnology and pharmaceutical companies among others – kept its dynamism during 2014. The sector summed nine investment projects.
The life sciences sector became the second largest job generator with 1,687 new jobs reported as created or in recruitment process.
The advanced manufacturing and clean technologies sector reported five new investment projects. This number is 150% higher than last year’s number and gives positive recovery signs of this sector in 2014.
Eighteen new investment projects arrived in Costa Rica in 2014 in the corporate services sector. This sector continues to be the biggest job generator this year with the opening of 3,500 new employments.
On my score sheet Costa Rica is 12 Grenada Nil. What is on your score sheet?
Garvey Louison FCCA
Chartered Certified Accountant