Business View Caribbean | Volume 8, Issue 7

26 BUSINESS VIEW CARIBBEAN VOLUME 8, ISSUE 7 finance, operational adjustments, as well as increased cost of raw material. Nevertheless, despite the challenges, several opportunities for pivoting emerged from the pandemic, as many companies shifted focus to other areas such as sanitation products (production of hand sanitizers, cleaning agents and paper products) along with the production of Personal Protective Equipment (specifically masks). The utilization of ecommerce also increased, specifically in B2C interactions within the Food and Beverage subsector. As we look ahead, we believe that a radical shift within Jamaica’s economic landscape is needed. This means that as we seek to build back stronger, we envision a Jamaica with a diversified economic base. One that is no longer overly reliant on one sector but is supported by other areas that can also sustain and drive economic development. For this to happen, the priority focus must shift to improving investments in the Agro-processing industry, expansion of product and service portfolio with new value- added offerings, diversification of supply chain networks, investment in research and innovation supported by the provision of incentives, investment in productivity, boosting our logistics and transhipment capabilities, and utilization of untapped export opportunities and niche markets for high demand products. A manufacturing and export led economy is key to Jamaica’s sustainable future. The JMEA will, therefore, continue to play its part in advocating for an equitable and inclusive environment where manufacturers, exporters, and service providers are empowered in their quest to contribute to the socio-economic welfare of the country by creating jobs and improving the standard of living for all Jamaicans.