Roseau, Dominica (TDN)
The Dominica Association of Industry & Commerce (DAIC) and the Dominica Manufacturers Association (DMA) are saddened by the decision of Colgate-Palmolive to cease its Dominica operation, Dominica Coconut Products Ltd. (DCP).
Dominica Coconut Products Ltd. has been a household name and a vital part of the national economy for decades, providing employment, and playing a key role in the manufacturing sector. With significant levels of exports, DCP has contributed to the country’s foreign exchange and overall, contributed significantly to the country’s Gross Domestic Product.
The DAIC and the DMA empathize with the 94 employees who have lost their jobs as a result of the closure of the Plant and support the Government’s call to Colgate-Palmolive to go beyond the legal mandate and consider providing additional financial and other benefits to those employees who have lost their jobs.
When members of the DAIC Executive visited the Dominica Coconut Products in the aftermath of Tropical Storm Erika and witnessed first-hand the magnitude of the impact caused by the flooding at the Plant, unfortunately, the potential risk to this investment was evident. Understanding the significant role DCP plays, as a manufacturer and exporter, to Dominica’s economy the DAIC saw the urgency of giving DCP’s predicament national visibility, engaging the Government to ensure that due consideration be given to facilitate any support that DCP needed to remain part of the Dominican economic landscape.
Unfortunately, the company has decided to cease its operations in Dominica and with this comes another blow to our currently fledgling economy, through loss of revenues to key areas such as the Dominica Air & Seaports Authority (DASPA).
The DAIC and DMA calls for both public and private sectors to challenge themselves to encourage more foreign direct investment into Dominica. Both Associations see the urgent need to confront longstanding issues such as inadequate supply of raw materials, absence of adequate financing solutions, and human resource challenges which continue to plague our economy and by extension our development.
Both Associations stand ready and willing to be part of the decision making process undertaken to address the economic challenges Dominica faces now and in the future.
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