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Aboud committed to investing in T&T
CEO of Mode Alive Trading Company Gary Aboud said that he will continue investing in T&T despite the downturn of the economy.
“The meaning of business perhaps has been misinterpreted by the general public. Business is really an artform and a passion and it is not a passion to make money. What you have to focus on is satisfying a need and providing a service better than it is available elsewhere. We have had some profitable years and some less profitable ones.”
Aboud spoke to the Guardian yesterday at the launch of their new Valsayn branch.
Ten years ago, a fire destroyed the retail operation of Mode Alive at the same Valsayn location.
Aboud said he owes $15 million to the bank to build and outfit this new building and branch.
Expressing his opinion on the macro economy, Aboud said he was concerned with the future of business in T&T as this Government has promised to penalise members of the business community for buying US dollars on the black market, yet the Government does not have enough foreign exchange to allocate.
“What they are saying to 30 percent of the national economy is send home your workers because they are going to cripple you without US dollars. We do not think that is the correct approach to managing shortages of foreign exchange. Nor is it the correct message to send to investors and employers who do in fact have the national economy at heart.”
He said the Government has been calling on the private sector to do more in economic diversification, but he added that the Government needs to do its part as well.
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