#JamaicaTogether | COVID-19 laid us bare, but we are strong, says Keith Duncan
Published:Sunday | May 17, 2020 | 12:23 AMNeville Graham - Business Reporter
Keith Duncan as CEO of the JMMB Group and president of the Private Sector Organisation of Jamaica (PSOJ) must have had a lot on his mind while in an all-day board meeting last Friday. He is clear, though, of the impact which the deadly coronavirus has brought upon Jamaica and the world in a pandemic not seen since the 1918 Spanish flu.
“The world and domestic economy are in the middle of the deepest crisis in decades,” Duncan told The Sunday Gleaner.
“The COVID-19 pandemic has created great uncertainty and fear for us as a people,” the PSOJ president observed, adding that with the level of uncertainty, Jamaicans were also fearing for their lives, their families and their communities with crushing mental stress and anxiety.
Speaking on a personal level, Duncan says the pandemic has meant increased demand on his time, working much longer days, seven days per week.
Duncan, from his earliest days at the company his mother founded in 1992, has always been known for his can-do, go-getter, all-hands-on-deck work ethic. It is no different now, except he sees everyone pulling together for a new Jamaica.
“We have to be a part of the solution and we want to action and execute on solutions. This requires greater effort and engagement with stakeholders as we all collaborate to move Jamaica from a crisis situation into the new normal,” he said.
A LOT TO REPAIR
Duncan is clear that a lot has happened since the virus surfaced on local shores and so there is a lot to repair. He pointed to the fallout in tourism impacting more than 300,000 direct and indirect workers, along with their families, as one example. He observes that tourism has deep linkages with the rest of the Jamaican economy, which has led to further fallout and job losses elsewhere.
Duncan also noted that the micro, small and medium enterprises (MSME) sector – both at the formal and informal levels – has also faced great hardships.
The PSOJ boss said that COVID-19 has laid the Jamaican socio-economic fabric bare.
“The impact of the COVID-19 virus has shown how vulnerable and exposed our people are and how they basically live on the margins, and a significant number of our people live in real poverty,” he observed.
He said that while the Government has made an effort to ameliorate the economic effects of COVID-19 with the a relief programme to meet dire need, the sheer numbers of applicants shows that Jamaicans are facing great hardships. His greatest wish is for Jamaicans, regardless of political persuasion, to put Jamaica first and “to use this opportunity that this crisis has created for us to make some fundamental changes which could set us on a path for more inclusive and equitable growth”.
NEW NORMAL ECONOMY
Continuing, Duncan pitched a plan for the way forward: ““We have to prioritise our investment in our human and digital transformation as we look to increase our productivity and prepare for the new normal economy. We must look to agriculture as the basis of our economy, and we must look to invest in water, storage and distribution to ensure that agriculture and the agro-industries can be resilient and scalable.”
The PSOJ president said that the objective would be to make agriculture globally competitive so that Jamaica can increase exports and beat a viable path to import substitution with local alternatives. He added that this would give fillip to Jamaica’s manufacturing sector, which has been on the rebound, and that present global dynamics create an opportunity for this sector to further expand its share of the domestic economy.
“These shifts will further diversify and strengthen our domestic economy,” he reiterated.
Duncan observed that the Jamaican people have been very patient and have borne the pain of bad policy options over the years, and that the country has positioned itself for economic independence with reduced debt-to-GDP targets and greater fiscal space for investment in the country and its people. Now is not the time to back away from change, he insisted.
“We really should put people first now and transform our education and our country to really achieve sustainable inclusive and equitable growth,” the PSOJ president said, adding that Jamaicans need to push to ensure that private and public sector leaders work towards a Jamaica which lifts the quality of life of the most vulnerable citizens.
In words of advice for the Government, the PSOJ president said the key watchwords in this period of great uncertainty are ‘communicating’ and ‘educating’.
He believes the Government can engender a sense of hope by providing visibility around the phased recovery of our economy and the various sectors.
“This will provide visibility and hope for the future,” he told The Sunday Gleaner.
CRITICAL INITIATIVES
Duncan said that a number of initiatives now being undertaken will prove critical to Jamaica emerging in the post-COVOD-19 era as a better country.
“Continue to make the investments in our health infrastructure and capacity. Build out the testing and contact tracing capability leveraging technology, which will provide comfort and reduce fear among our Jamaican people. Keep the focus on the social safety net. Ensure that ministries, departments and agencies are supportive of the MSMEs, which are greatly exposed and bear the brunt of the pain,” the PSOJ president advised.
Duncan is hoping that this crisis will create a stronger and more resilient people and economy.
On a personal level, Keith Duncan is full of fearless optimism.
“I really have no fears. Whatever challenges that we face, I am confident that we as a people can manage it and overcome, and we will continue to be our brothers’ and sisters’ keepers,” he said.