00:00Solid and well-balanced for the most part. That's how President of the T&T Manufacturers
00:06Association Roger Roach sums up the 2025 budget presented by Finance Minister Colm Imbert
00:13on September 30th.
00:15However, one thing stands out in our mind and that is implementation is key. Lots of
00:23policies and programs but implementation will be key.
00:28Roach says the growth of non-energy manufacturing exports to 96 percent, a 5 percent increase
00:34when compared to 2020, is encouraging.
00:38The TTMA states that several sub-sectors in manufacturing also experienced extensive growth
00:43– food and beverage, 40 percent, paper products, 47 percent, plastics and rubber, 66 percent,
00:50furniture and light fittings, 34 percent, and glass products, 161 percent.
00:56And that investment, according to our tracking, generated 2,300 new jobs.
01:02The association states that over the past two years, its members' capital investment
01:07in plant and equipment is around $2.4 billion.
01:12Until the public sector is fully digitized, we will continue to have challenges with regards
01:19to the ease of doing business.
01:21The TTMA is welcoming digitization plans, including that of additional online payments
01:27and online services.
01:29The TTMA reveals that it has eight trade missions planned for 2025, one of which it calls novel.
01:37Which will be a trade mission on a cruise line with the Royalton cruise line on the
01:42Rhapsody on the Seas, and as the cruise line docks in different countries, we will engage
01:50in B2B meetings and aim to do trade with those countries.
01:53The TTMA is calling for a long-term solution to the VAT refunds problem, and it says it
01:58is open to discussions with the government on finding solutions.
02:03Alicia Boucher, TV6 News.
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