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STRATEGIES FoR STIMULATING GROWTH AND SUSTAINABILITY 22 nd JUNE, 2011

4 th BIENNIAL INTERNATIONAL BUSINESS BANKING AND FINANCE CONFERENCE . STRATEGIES FoR STIMULATING GROWTH AND SUSTAINABILITY 22 nd JUNE, 2011 . CURRENT STATUS AND FACTORS . DEPENDENCE ON ECONOMIC PERFORMANCE OF NORTH AMERICA AND EUROPEAN MARKETS HIGH ENERGY AND FOOD PRICES

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STRATEGIES FoR STIMULATING GROWTH AND SUSTAINABILITY 22 nd JUNE, 2011

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  1. 4th BIENNIAL INTERNATIONAL BUSINESS BANKING AND FINANCE CONFERENCE STRATEGIES FoR STIMULATING GROWTH AND SUSTAINABILITY 22nd JUNE, 2011

  2. CURRENT STATUS AND FACTORS • DEPENDENCE ON ECONOMIC PERFORMANCE OF NORTH AMERICA AND EUROPEAN MARKETS • HIGH ENERGY AND FOOD PRICES • TOURISM SUFFERING, UNEMPLOYMENT • STAGNATED FOREIGN DIRECT INVESTMENT • ECONOMIES NOT DIVERSIFIED • RISING DEBT LEVELS AND DEFICITS • REGIONAL PRIVATE SECTOR CLICO IMPACT SHAKEN CONFIDENCE, STOCK MARKETS SLUGGISH

  3. GLOBAL FACTORS SLOWING RECOVERY • MIDDLE EAST CRISIS SUSTAINED HIGH OIL PRICES IMPACT ON CONSUMERS AND ENERGY • EUROPEAN SOVERIGN DEBT CRISIS RATING DOWNGRADES, DEBT, DEFICITS • US LABOUR AND HOUSING MARKET • JAPANESE CRISIS DEMAND, CURRENCY , DEBT • CHINA HIGH INFLATION TIGHTENING MONETARY POLICY

  4. SOLUTIONS – SHORT TERM • STIMULUS AND GOVT SPENDING CONTRACTORS, SALARIES, TAX MEASURES • MANAGE DEBT AND BUDGETS TO RESTORE CONFIDENCE • IMPROVE COMPETITIVENESS AND PRODUCTIVITY OF PUBLIC AND PRIVATE SECTOR – SUSTAINABILITY • EFFECTIVELY MANAGE CLICO FALLOUT IN THE CARIBBEAN • RESTORE CONFIDENCE IN FINANCIAL REGULATORY SYSTEM • ROLE OF THE BANKING SECTOR AND CREDIT IN STIMULATING GROWTH

  5. COMPETITVENESS AND INNOVATION • WORLD FORUM GLOBAL COMPETITIVENESS INDEX - • BARBADOS 43 • TRINIDAD ANF TOBAGO 84 • GUYANA 110 • WHY HAVE SMES NOT TAKEN ADVANTAGE OF CROSS BORDER OPPORTUNITIES AND CARICOM

  6. CLIMATE FOR ATTRACTING INVESTMENTS • STOCK MARKETS – IPOS, NATIONAL ASSETS FOR NATIONAL INVESTMENT • DIVERSIFICATION OF ECONOMIES FROM OIL AND GAS, TOURISM • ROLE OF THE PRIVATE SECTOR AND PARTNERING WITH GOVERNMENTS • ENCOURAGE INNOVATION AND ENTREPRENEURSHIP

  7. ROLE OF PUBLIC SECTOR • INCENTIVES AND NEW AREAS FOR FDI • REDUCE BUREAUCRACY - EASE OF DOING BUSINESS TTBIZLINK • SMES AS WELL AS LARGE FIRMS • FINANCIAL AND LEGAL REGULATION • TRANSPARENCY AND INTEGRITY IN PUBLIC PRACTICES PUBLIC PROCUREMENT • LABOUR RELATIONS CLIMATE • SOCIAL CLIMATE CRIME AND OTHER FACTORS, REVERSE BRAIN DRAIN

  8. ROLE OF THE PRIVATE SECTOR • INVEST IN NEW OPPORTUNITIES BY PARTNERING, CLUSTERING (STILL SMALL) • HUMAN CAPITAL DEVELOPMENT AND EMPLOYMENT CREATION • INVEST IN TECHNOLOGY, MOERN PLANT AND MACHINERY • ACCESS TO FINANCE INTERNATIONAL • DREAM BIG IF COMPETITIVE AND PRODUCTIVE, THEN NO LIMIT ON MARKETS

  9. OPPORTUNITIES • RENEWABLE ENERGY – GUYANA HYDRO, OTHERS SOLAR AND WIND • DEVELOP MANUFACTURING SECTOR THROUGH COMPETITIVENESS AND PRODUCTIVITY • AGRICULTURE • DOWNSTREAM ENERGY POLYPROPYLENE, POLYETHYLENE • GAS PROJECT (JAMAICA LNG), GUYANA

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