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Local Business Sector Told - Innovation, the Key to Success
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Local Business Sector Told - Innovation, the Key to Success
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Friday, July 20, 2001 - Prime Minister Honourable Dr. Kenny Anthony has announced that the St. Lucia Manufacturers’ Association is being considered for Special Development Agency Status. This is to allow the association to enjoy specific tax and duty concessions.
The Prime Minister made the announcement on Thursday, July 19, during the official opening of the new 3-million-dollar Harris Paint plant in Bois D’Orange. He said this special privilege would be accorded, once the association proves itself to be a truly representative, sustainable, democratic and productive partner in the process of national development.
Commenting on the development of Harris Paints St. Lucia from its inception in 1988, Dr. Anthony noted that the company’s approach to business is testimony that innovation and constant upgrading are crucial ingredients for companies wishing to thrive in the changing and competitive market environment.
“Indeed in these times when we so badly need success models, particularly in
manufacturing, we are privileged to witness the sustained and deliberate
development of Harris Paints over its relatively short life in St. Lucia. The
fine example of Harris Paints teaches us that innovation and constant upgrading
remain crucial to companies wishing to thrive and prosper in this changing
market environment. As we are
learning more precisely everyday, economic survival is no longer a function of
stoic endurance through business peaks and troughs.
Survival is also a function of a company’s ability to assimilate, adapt,
and innovate,” said Dr. Anthony.
Commerce Minister, Honourable Philip J. Pierre, who
also addressed the opening of the new plant for Harris Paints, suggested that
the investment by the company was testimony to its confidence in the future of
St. Lucia’s economy and the manufacturing sector in particular. Mr. Pierre noted
that in support of the manufacturing sector, the Government of Saint Lucia has
not only granted generous incentives and consumption tax rebates, but has
negotiated several agreements with countries that have larger markets than St.
Lucia for easing the entry of St. Lucian manufactured products.
Minister Pierre complimented Harris Paints for its
appreciation and understanding of the need for technological innovation.
“Today the company has invested in a modern factory and state of the art
equipment which includes a treatment plant for recycling waste water,” he said.
The President of the St. Lucia Chamber of Commerce, Industry and Agriculture Linford Fevrier, in his remarks to the audience said if the local business sector is to prosper, certain long-term business and development strategies must be adopted. “If we do not know where we are going, any road will take us there. I therefore urge all St. Lucian businesses to draw up and follow a business plan that will take you where you wish your company to go. Like Harris Paints that plan must be expansionist, market driven, supported by appropriate technology, strong, determined and intelligent management and a commitment to the fundamental principles which underpins your corporate identity,” Fevrier ended.
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