Last update: 05-Dec-2013 12:18 pm
Thursday, December 05, 2013
Trinidad & Tobago Guardian Online
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Chairman of competitiveness body: T&T more productive than people think
Productivity levels in T&T are much higher than most people think, said Richard Lewis, chairman, Council for Competitiveness and Innovation (CCI).
“Truthfully, if people start looking at productivity in T&T in terms of value created per input, productivity in T&T is not as bad as it may appear. We are probably middle of the road in the world and, in some cases, even better.”
Lewis spoked about the United States and used units of production as an example.
“The United States supposedly has a high rate of productivity. If you measure productivity on a value created basis in US dollars, an American worker may come to work on time and produce the 25 glasses he is hired to make a day. If you apply the cost to the value part, the cost per unit is lower in T&T where only 15 glasses a day can be produced by our worker. So although the productivity is not that great, we have an advantage in T&T,” he said.
Lewis spoke to the Business Guardian on Monday in Tower D at the Port-of-Spain International Waterfront Centre where the CCI is based.
The CCI falls under the Ministry of Planning and the board is made up of three people from the private sector and four from the non-private sector.
Lewis said T&T can become more competitive by improving some of the criteria international agencies use to guage competitiveness.
“Whether it be business governance and ethics, infrastructure and transportation, education: these are the building blocks. If you can move these forward by ten cent or 15 per cent, it will lead to a more competitive society,” he said.
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