Trade minister advises local companies to embrace technology

Trade and Industry Minister Paula Gopee-Scoon has advised local manufacturers to embrace cutting-edge technology, or get left behind, as technological advances transform the world of manufacturing.

Gopee-Scoon applauded Domus Windows and Doors Ltd’s use of technology to produce hurricane resistant windows and doors, during the opening of its $55 million factory and showroom, Factory Road, Chaguanas on Tuesday.

She said local manufacturers had to embrace similar technology as the world seemed to be moving ahead in the fields of automation and robotics. “If TT is to remain competitive, investment in cutting edge technology like what we see here today, high-value production and export practices are indeed a must.

“As we are aware the global economy has already entered a place where the pace is transforming the manufacturing environment. Technology intensive manufacturing that employs small automation, advanced robotics, 3D printing really have begun to dominate the landscape and firms that employ such an approach are at the forefront of their fields and, in order to stay relevant and to seize new opportunity, our local companies must be ready to adopt the latest manufacturing technologies.” She said a key aspect of enhancing competitiveness was the development of industrial parks where investors can build factories and offices to “create goods and services for local and international consumption.”

She cited the Moruga light agro processing estate and the Phoenix Park industrial estate as sites which can be used to develop new industries.

She, however, said the energy sector would continue to have “some dominance’ in the local economy. Meanwhile, InvesTT president Christopher Lewis said Domus, which is a computer-integrated manufacturing facility, would strengthen the local Chaguanas economy while employing 55 people. He said there was a high investor interest in TT as the company had successfully secured 19 new investments since 2015 totalling $1.7 billion.