The T&T Chamber of Industry and Commerce said it is pleased that the Government has announced reduced restrictions for a number of sectors which is an important step in the economy recovering.
Speaking at a press conference at the Prime Minister’s residence in St Ann's yesterday, Prime Minister Dr Keith Rowley made several announcements concerning the reopening of the economy.
Restaurants will be reopened on July 19 but it will only for curbside pick-ups and delivery.
The manufacturing sector will be fully reopened on July 12.
The borders will be reopened on July 17.
The Chamber said despite the phased reopening, it would have liked this to be extended to online retail sales and delivery.
“These companies have invested in digital infrastructure and are able to conduct business responsibly while keeping staff and customers safe and providing much-needed services.”
The chamber also said that it was happy to hear of the expected arrival of the 800,000 vaccines as the country works towards achieving herd immunity.
“The next critical success factor is the vaccination drive and we look forward to furthering details from the Ministry of Health. The T&T Chamber is committed to collaborating with the Government and other private sector organisations in the vaccination effort for the business community.”
The Chamber said vaccine literacy was a key aspect in addressing vaccine hesitancy and the T&T Chamber continues to aggressively execute this private sector-led initiative–the “Let’s each do our part” campaign (www.ttbeatcovid19.com).
A statement from the Trinidad and Tobago Manufacturer’ Association (TTMA) said it was very pleased with the Prime Minister’s announcement of the reopening of the entire manufacturing sector on July 12 along with the reopening of restaurant and food outlets.
“This is a step in the right direction to get the gears of the manufacturing sector grinding again which will lead to the stimulation of the economy. As the rate of vaccination increases and the economy continues to unlock, jobs will be re-instated and we are hoping this will also lead to a continual uptake of the economy. We continue to stand by ‘vaccinate to operate’. This is the only way we can preserve lives in order to preserve livelihood.”
George: It's bittersweet
Owner of the Trent Restaurant Group, Peter George Jr told the Sunday Guardian that the partial reopening of restaurants on July 19 is a small step for an industry that has been decimated.
“Every angle of the restaurant business has been restricted over the last 18 months. The opening of restaurants now is bittersweet.”
He said there was the possibility that if the macroeconomy is not stabilised then more restaurants will close their doors in the near future.
“We have been here two or three times. The Government has not used taxpayers' money to help us. The plan cannot be to just reopen businesses as you must understand the catastrophic damage that has been done to the economy since last year. I foresee more restaurants not reopening. Businesses have been closed, incomes have been atrophied, people have not gotten paid. They have a tremendous burden with banks.”
Hallelujah! Prestige Holdings’ CEO rejoices
“Hallelujah!”
This was the initial reaction of Prestige Holdings’ CEO Simon Hardy to the Government’s approving the partial reopening of the restaurant industry.
Prestige Holdings operates KFC, Pizza Hut, Subway, TGI Fridays and the Starbucks brands.
In early May, the Government ordered the closure of restaurants and roadside vending.
“We are very pleased and excited to hear the Prime Minister announce today the reopening. It’s been a very long, hard road for our employees, the company, and the country over the last two and a half months," he told the Sunday Guardian.
He said in 2018 Prestige Holdings made a loss of roughly $18 million while for the first of 2021, the loss before tax was $20 million.
“That is just the losses. Someone in the developed world said combating COVID cost them 20 per cent of Gross Domestic Product (GDP). Where would we have all been has COVID not happened?”