The
Nation: August 1999 - July 2000
The
disappointing economic performance continues
to take its toll on the business community
and the wider society. Over the past year
we have seen a number of closures in the manufacturing
sector and many firms are still undergoing
restructuring exercises as they seek to reshape
their businesses for survival in a difficult
economic environment. A number of apparel
manufacturers have closed their operations
here in Jamaica and the cigar manufacturers
Cifuentes y Cia have also ceased to produce
cigars in Jamaica after many years of carrying
on business here. The operations of many of
these firms have been relocated to other countries
in the region, such as the Dominican Republic,
Mexico and Honduras. Our conglomerates have
also been restructuring with both Grace, Kennedy
and the Mechala Group selling off loss-making
or marginal subsidiaries in order to concentrate
on their more profitable operations.
The job losses in the private sector have
been accompanied by retrenchment in the
public sector as well, with agencies like
the JPSCo laying off staff and the Ministry
of Education laying off teachers. The lack
of growth in the economy has lead to a situation
where new job opportunities are not being
created at a pace that can absorb those
who are being made redundant and this is
no doubt contributing to the very unsettled
social situation that prevails at present.
The level of violent crime continues to
be a matter of great concern and has remained
at the top pf the public's agenda. New anti-crime
initiatives have been promised but they
have not yet yielded the desired result
of lowering the very high murder rate. Problems
in the prisons and lock-ups that have led
to frequent escapes and other disturbances
have not helped to increase public confidence
in the authorities' ability to deal effectively
with the situation.
Fortunately, all has not been doom and gloom
as our sports men and women have continued
to perform very well at the highest levels
of international competition and this has
certainly boosted national morale. Our Olympic
team won 7 medals at the Sydney Games, the
largest haul ever and this was followed
by Veronica Campbell capturing two gold
medals at the World Youth Championships
by taking the sprint double. The Reggae
Boyz are through to the final phase of the
CONCAF Zone World Cup qualifiers and are
therefore still in with a chance of completing
the Road to Seoul. The team has been rejuvenated
by its new Technical Director Clovis de
Oliveira and we look forward to following
its progress through the rest of the qualifying
matches.
Finally, back on the economic front, all
eyes are now focused on the information
technology sector as the government presses
ahead with its plan to make this sector
a major source of new jobs over the next
three years. Some new investment has started
in the sector and new facilities are being
built in Portmore and in Montego Bay. We
hope that the sector will indeed live up
to the promise that it seems to hold ?
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