Carib Scope

分类： business

  • Melkcentrale kijkt vooruit: kwaliteit, vertrouwen en nieuwe producten

    Melkcentrale kijkt vooruit: kwaliteit, vertrouwen en nieuwe producten

    Paramaribo Milk Center (MCP), Suriname’s prominent dairy institution, is undergoing a comprehensive organizational overhaul as it approaches its 65th anniversary in April 2026. Under new leadership since November 2025, Director Monché Atompai is steering the company through a critical period of financial recovery, quality enhancement, and strategic repositioning.

    Atompai inherited an organization still grappling with the aftermath of internal misconduct and an ongoing criminal investigation that has implicated twelve individuals and significantly damaged the company’s financial stability. Despite these challenges, the director emphasizes that operations continue while intensive recovery efforts are underway.

    The transformation strategy rests on three foundational pillars: organizational restructuring, enhanced transparency, and trust restoration both internally and within the broader community. Atompai acknowledges this represents a gradual process rather than a quick fix, though he reports encouraging progress already emerging through systematic implementation.

    A cornerstone of the revitalization effort involves substantial quality improvements. The center has successfully completed ISO certification procedures addressing previous public criticism regarding product standards. While acknowledging remaining challenges for 2026, management confirms active work toward addressing all outstanding quality concerns.

    In preparation for its April anniversary, MCP is developing multiple social initiatives aimed at promoting awareness about milk’s nutritional significance across all age demographics. These programs will specifically target children, elderly citizens, and vulnerable populations with educational content about healthy nutrition and beverages.

    Concurrently, the company is conducting extensive market research into new product development, including infant formula and innovative dairy alternatives. This expansion strategy encompasses Suriname’s interior regions and districts while exploring potential export opportunities to neighboring countries.

    The anniversary celebrations will feature the official launch of two novel dairy products currently in development under a dedicated project leader. This dual approach of social engagement and product innovation represents MCP’s comprehensive strategy to strengthen its market position while serving community nutritional needs.

  • Belize Joins Top Global Financial Regulators

    Belize Joins Top Global Financial Regulators

    In a significant advancement for its financial sector, Belize has secured ordinary membership in the International Organisation of Securities Commissions (IOSCO), the world’s foremost authority on securities market regulation. This elevation positions the Central American nation alongside the globe’s most respected financial watchdogs.

    The Belize Financial Services Commission (FSC), the nation’s primary non-bank financial regulator, announced that this designation represents the highest tier of participation within IOSCO. This prestigious status is exclusively granted to regulatory bodies demonstrating robust legal frameworks, sophisticated supervisory capabilities, and a proven commitment to international enforcement cooperation. The organization’s membership collectively governs over 95% of worldwide securities markets spanning 130 jurisdictions.

    Belize’s journey to this elite status commenced with its acceptance as an Associate Member in May 2024. This preliminary phase was followed by a critical milestone in December 2025, when the FSC became a signatory to IOSCO’s Multilateral Memorandum of Understanding (MMoU), a key agreement facilitating cross-border regulatory collaboration and information sharing.

    This upgraded membership confers substantial benefits upon Belize, including full voting rights within IOSCO’s governing structures and eligibility for participation on its specialized committees. These privileges enable the FSC to actively contribute to shaping international regulatory standards and policies. Furthermore, officials emphasize that this enhanced standing will significantly bolster Belize’s capacity to oversee rapidly evolving financial technologies, particularly within the digital asset ecosystem.

    The FSC maintains regulatory oversight of Belize’s comprehensive non-bank financial services industry, encompassing investment firms, securities brokers, and various other financial entities. This recognition signals to international investors and financial institutions that Belize operates within a framework of transparency and regulatory excellence aligned with global best practices.

  • Oil Firms Hesitant as Trump Pushes $100B Investment in Venezuela

    Oil Firms Hesitant as Trump Pushes $100B Investment in Venezuela

    WASHINGTON — The Trump administration is facing significant industry resistance to its ambitious plan to mobilize $100 billion in private oil investments for Venezuela following the U.S. capture of President Nicolás Maduro. Despite presidential assurances of direct government backing, major energy corporations remain skeptical about the South American nation’s investment climate.

    During a high-level meeting at the White House, President Trump presented his vision to energy executives, positioning Venezuela’s vast oil reserves as a strategic opportunity to boost global supply and consequently reduce energy prices worldwide. “This initiative will deliver substantially lower energy prices, representing a significant benefit for the United States,” Trump asserted, emphasizing that companies would negotiate exclusively with U.S. authorities rather than Venezuelan representatives.

    The administration has already implemented a dual-track approach, selectively easing certain sanctions while simultaneously seizing Venezuelan oil tankers and directing petroleum revenues into U.S.-controlled accounts. Officials describe this strategy as essential for maintaining leverage over the interim government led by Vice President Delcy Rodríguez.

    Industry response, however, has been markedly cautious. ExxonMobil CEO Darren Woods characterized Venezuela as fundamentally “uninvestable,” citing the company’s two previous experiences with asset seizure in the country. “Considering re-entry for a third time would necessitate truly transformative changes to the investment landscape,” Woods stated during the meeting.

    Currently, Chevron maintains operations as the sole major U.S. petroleum company in Venezuela, alongside a limited number of international firms. The significant disparity between presidential enthusiasm and corporate caution highlights the complex challenges facing Venezuela’s energy sector revitalization amid ongoing political transition.

  • WISYNCO’S US$35-M BET

    WISYNCO’S US$35-M BET

    Jamaican manufacturing giant Wisynco Group has initiated regulatory procedures to export beverages from its newly operational Devon Reynolds Brewery into the United States market. This strategic move marks the company’s first major foray into international markets despite exports currently constituting merely 2% of its total revenue.

    Chairman William Mahfood revealed the development during Tuesday’s inauguration of the US$35-million facility at Lakes Pen, St Catherine, identifying the U.S. as a potential cornerstone of the company’s long-term international strategy. “We’re currently navigating the registration process and anticipate commencing exports to both U.S. and Caribbean markets within coming months,” Mahfood stated, acknowledging this represents a “significant breakthrough” for the predominantly domestic-focused company.

    The state-of-the-art brewery, commissioned in June 2025, substantially enhances Wisynco’s production capabilities across beer, stout, malt beverages, ready-to-drink products, and the internationally recognized Stone’s Ginger Wine. CEO Andrew Mahfood emphasized the facility’s design as a flexible manufacturing platform rather than a single-category operation, noting it “significantly expands our capacity, strengthens our ability to meet growing market demand, and provides flexibility to diversify our product portfolio meaningfully.

    A critical component of the export strategy involves advanced packaging solutions. The facility incorporates high-speed canning and glass bottling lines alongside existing PET production, enabling customized output based on international market requirements. Andrew Mahfood highlighted the economic advantage: “A 40-foot container of Bigga in plastic holds approximately 1,500 cases. The same container accommodines nearly 3,000 cases of canned Bigga, significantly improving freight absorption and enhancing price competitiveness in overseas markets.” Cans additionally provide extended shelf life—a crucial factor for export products undergoing extended transit periods.

    While initial production focuses on satisfying robust domestic demand, particularly from Jamaica’s hospitality sector, the company acknowledges exports as a longer-term objective. The annual report identifies export growth as a strategic priority, with new production lines expected to improve shelf life, reduce freight sensitivity, and ensure packaging meets international standards.

    The Devon Reynolds Brewery, named in honor of the Production Director’s 43-year tenure and leadership in the facility’s development, boasts an initial annual capacity of 150,000 hectolitres with designed scalability. Production Director Devon Reynolds confirmed the facility’s expansion-ready design: “We are built to expand. The can line operates at 30,000 cans hourly, and we’ve allocated space for additional larger glass lines.”

    Currently employing approximately 85 manufacturing personnel with total operation-related employment estimated between 350-400, the brewery represents Wisynco’s first large-scale entry into brewed and alcoholic categories. Andrew Mahfood grounded this strategic pivot in long-term consumption trends, noting Jamaica’s per capita beer consumption of 20 liters significantly trails Trinidad’s 40 liters and North America’s 65-70 liters, indicating substantial market growth potential.

  • Jamaica fights AI misinformation; courts India and South America in tourism recovery push

    Jamaica fights AI misinformation; courts India and South America in tourism recovery push

    Jamaica’s tourism sector is mounting a sophisticated defense against AI-generated misinformation while aggressively pursuing market diversification in response to Hurricane Melissa’s impact. Tourism Minister Edmund Bartlett revealed his ministry is allocating substantial resources to combat digitally fabricated content that has damaged the island’s reputation since the October 2025 hurricane.

    Bartlett identified deep fake videos and geolocation-debunked ‘aftermath’ photos as particularly damaging false narratives requiring continuous correction. The ministry’s current $4.5 billion marketing budget includes dedicated allocations of $270 million for airlift support and $163.5 million for cruise shipping assistance. Projections indicate increased spending to $4.8 billion for the 2026/27 fiscal year with an additional $457 million for airline and cruise support.

    The misinformation challenge has complicated airline partnerships, necessitating incentives to maintain routes despite booking fluctuations. Bartlett emphasized partnership-based marketing over direct revenue guarantees, noting early successes with high load factors despite reduced rotations. Initial winter season data shows 45,000 stopover visitors and 65,000 cruise passengers, achieving 94% of 2025 arrival targets.

    Market diversification represents a strategic pillar, with India and South America identified as priority growth markets. The India initiative focuses on Delhi, Mumbai, and Chennai through partnerships with Emirates (via Dubai), Air India, and existing European/North American carriers. South America, particularly Brazil and Argentina, shows remarkable growth with 77% more visitors in 2025 totaling 31,000 tourists.

    Bartlett credited private sector collaboration with major brands like Sandals and Iberostar as crucial to recovery efforts. Hotel reopening timelines indicate Princess properties returning by early February, Sandals by March/April, while seven Hyatt properties sustained significant damage requiring extended repairs.

    The recovery process has prompted planned revisions to Jamaica’s Tourism Act to address the growing villa and Airbnb subsector, which now comprises over 15% of accommodation stock. The legislative review will establish clearer regulations and tax structures for short-term rentals.

  • Patrick Hylton appointed PSOJ’s new president

    Patrick Hylton appointed PSOJ’s new president

    KINGSTON, Jamaica – The Private Sector Organisation of Jamaica (PSOJ) has announced the appointment of distinguished banking executive Patrick Hylton as its new president, marking a significant leadership transition for the influential business association. The appointment was formally disclosed through an official media release issued on Tuesday.

    Hylton, formerly president and chief executive officer of the National Commercial Bank Financial Group, assumes leadership from outgoing president Metry Seaga, who concluded a productive three-year tenure. The transition occurs as Jamaica’s private sector faces critical economic challenges and opportunities.

    Sacha Vaccianna Riley, PSOJ executive director, emphasized Hylton’s qualifications in the announcement: ‘Patrick Hylton represents transformational leadership with substantial credibility throughout the private sector and demonstrates unwavering commitment to national development. His expertise and steady guidance will prove invaluable as PSOJ advances its advocacy agenda concentrating on productivity enhancement, competitiveness, and sustainable economic expansion.’ Riley simultaneously expressed the organization’s profound gratitude to Seaga for three years of exemplary service and significant organizational impact.

    Concurrent with the presidential announcement, PSOJ revealed its newly structured vice-presidential team for the upcoming term. The appointments include three new vice presidents: Joanna Banks of Sagicor Group Jamaica, Mathew Lyn representing Caribbean Broilers Group, and Mariame McIntosh Robinson serving as an individual member. They will collaborate with continuing Vice Presidents Gail Moss-Solomon of GraceKennedy Limited and Hugh Grant of Jamaica Public Service, forming a diversified leadership coalition.

    The organization outlined that Hylton’s strategic priorities will involve strengthening private-sector advocacy initiatives, deepening public-private collaboration mechanisms, and championing policy frameworks that stimulate enterprise growth, investment attraction, and inclusive economic development. Hylton is expected to work closely with the PSOJ board, secretariat, and membership base to execute this comprehensive agenda.

  • Angostura resumes exports to India

    Angostura resumes exports to India

    Trinidad-based spirits manufacturer Angostura Holdings Ltd has successfully re-established its export operations to India following an 11-year absence, marking a significant milestone in the company’s global expansion strategy. The initial shipment, ceremoniously sealed by Trade, Investment and Tourism Minister Satyakama Maharaj and Angostura Chairman Gary Hunt at the company’s Laventille warehouse, includes the iconic aromatic bitters, orange bitters, and five-year-old rum varieties.

    This strategic re-entry into one of the world’s fastest-growing spirits markets represents the first phase of a structured approach to building sustainable long-term growth. The Indian spirits market presents substantial opportunities for international brands due to evolving consumer preferences and increasing demand for premium imported beverages.

    The initial distribution will focus on three key provinces—Delhi, Karnataka, and Maharashtra—targeting urban centers and emerging hospitality hubs where Angostura bitters already enjoy recognition among bartenders and industry professionals. The company utilized its solar-charged electric forklift during the loading process, highlighting its commitment to sustainable operations.

    Chairman Hunt emphasized that each exported bottle carries the story of Trinidad and Tobago’s craftsmanship, culture, and excellence. He described the export initiative as a form of soft diplomacy that builds international relationships, strengthens global ties, and enhances the nation’s profile in influential markets. The venture is also expected to generate valuable foreign exchange, support local employment, and contribute to national economic resilience.

    While the bitters and five-year-old rum serve as the initial entry products, Angostura plans to evaluate opportunities across its broader portfolio to meet the diverse and changing preferences of Indian consumers. This re-entry reinforces Angostura’s heritage as a global brand while embracing new avenues for expansion and consumer engagement in a rapidly evolving market.

  • Bank chief slams Davis over ‘uninformed’ food vat removal

    Bank chief slams Davis over ‘uninformed’ food vat removal

    A leading Bahamian banking executive has launched a scathing critique of the government’s recent decision to eliminate Value-Added Tax (VAT) on unprepared grocery items, characterizing the policy shift as a politically motivated maneuver that jeopardizes fiscal stability. Gowon Bowe, Chairman of the Clearing Banks Association and CEO of Fidelity Bank, denounced the move as “an uninformed and understudied exercise” that prioritizes popular appeal over economic responsibility.

    Bowe challenged the policy’s fundamental design, highlighting its failure to target relief toward lower-income households. He noted that high-income earners would receive identical tax benefits as those most severely impacted by rising living costs, describing the approach as a crude “hacksaw” solution rather than a precision “scalpel.” The banking executive questioned the policy’s consistency with the Davis administration’s previous criticisms of VAT exemptions under the prior government, which international financial institutions had found to reduce revenue collection efficiency while increasing administrative burdens.

    The financial expert raised concerns about inevitable revenue shortfalls, warning that the government would eventually need to recover lost funds through alternative tax measures. He characterized taxation as a “zero-sum game” where exemptions in one sector necessitate increases elsewhere. Bowe particularly criticized the timing alongside the reintroduction of the RISE program, which effectively increases Social Security contributions through tax collection rebalancing.

    Regarding practical impact, Bowe calculated that a $100 grocery bill would only yield a $10 saving from VAT removal—a marginal benefit that fails to offset escalating costs in fuel, utilities, and other essential services. He argued that true economic relief requires targeted measures rather than broad-based tax cuts that provide negligible assistance to those experiencing severe financial strain.

    The banking chairman concluded that the decision exemplified a pattern of policy-making through “popular vote rather than studied analysis,” undermining The Bahamas’ post-COVID economic recovery and long-term growth prospects. He urged policymakers to focus on consolidating economic gains rather than distributing them prematurely through fiscally irresponsible measures.

  • Contingency plans in place for cargo on seabridge

    Contingency plans in place for cargo on seabridge

    Trinidad and Tobago’s maritime authorities have activated comprehensive contingency measures to maintain vital inter-island transportation services following the expiration of the MV Cabo Star’s leasing agreement on January 12. The Port Authority of Trinidad and Tobago (PATT) confirmed in an official January 14 announcement that emergency protocols are now operational to ensure uninterrupted movement of essential commodities, passengers, and accompanied vehicles during the transitional phase preceding the arrival of the replacement vessel, MV Blue Harmony.

    The strategic contingency framework involves coordinated deployment of existing maritime assets utilizing established cargo prioritization systems and booking channels. According to PATT’s detailed operational plan, the Galleons Passage will serve as the primary vessel for essential and priority cargo transportation, while TT Spirit will handle limited palletized essential cargo within strictly enforced safety and weight parameters. The APT James has been designated exclusively for passenger and accompanied vehicle services.

    Cargo management will follow a rigorously enforced three-tier priority system: Priority 1 encompasses food supplies, pharmaceuticals, and critical medical materials; Priority 2 includes essential retail and small-to-medium enterprise (SME) supplies; Priority 3 covers non-essential cargo that may be subject to transportation delays. Daily cargo acceptance will be administered by port and vessel operations teams adhering to these established guidelines.

    Existing booking infrastructure through TT Inter-Island Transportation Company Ltd (TTIT) remains fully operational, including physical ticketing offices in Port of Spain and Scarborough, authorized remote ticket agents, and approved digital booking platforms where available. The authority has established 24-hour operational support channels accessible at 467-5072 (Port of Spain), 467-5330 (Scarborough), or via email at ambikar@patnt.com to address cargo-related inquiries during this transitional period.

    PATT, in collaboration with TTIT and partner agencies, continues to actively manage the maritime transition to guarantee service continuity. Regular updates will be disseminated through official media channels and digital platforms as new information becomes available.

  • Tourism’s triple five targets blown off track but sector resilient

    Tourism’s triple five targets blown off track but sector resilient

    Jamaica’s ambitious ‘triple five’ tourism strategy—aiming for five million visitors, US$5 billion in earnings, and 5,000 new hotel rooms by 2025—has been significantly derailed by consecutive hurricane strikes, compelling a major recalibration of the sector’s growth trajectory. Tourism Minister Edmund Bartlett confirmed the setback, attributing the shortfall primarily to Hurricanes Beryl (2024) and Melissa (2025), which collectively caused the loss of nearly half a million visitors and widespread infrastructure damage.

    Preliminary 2025 estimates now project approximately 4.5 million arrivals and US$4.6 billion in revenues, falling substantially short of original targets. Hurricane Melissa alone dealt what Bartlett described as a ‘significant blow,’ with approximately 30% of hotel rooms currently offline. Sector capacity is expected to gradually recover, reaching 80-85% by mid-year and 90% by November, though full restoration remains months away.

    The financial impact has been staggering, with reconstruction costs equivalent to an estimated 41% of Jamaica’s GDP. Airport operator data revealed a 524,000-passenger decline in 2025—the largest annual drop since the pandemic—amplified by additional challenges including U.S. travel advisories and shifting immigration policies.

    Despite these setbacks, Bartlett struck an optimistic note regarding long-term prospects. The ministry has established revised targets aiming for eight million visitors and US$10 billion in earnings by 2030, supported by an undiminished investment pipeline. Multiple major developments are advancing, including the 500-room Unico property (mid-2025 opening), Palladium Hanover, Moon Palace Grand, and the luxury Pinnacle multi-tower project.

    Crucially, resilience has become central to Jamaica’s tourism strategy. New constructions will incorporate enhanced building standards, reinforced roofing systems, and improved utility redundancies to withstand future climate and seismic events. Bartlett emphasized that investor confidence remains strong despite recent challenges, signaling enduring faith in Jamaica’s position as a premier Caribbean destination.