Former Carreras Group boss Michael Bernard believes concentrating on local production will be key as Jamaica seeks to reap success through the National Debt Exchange (NDX).
"Our current predicament ... forces us, involuntarily, to direct more of our investment and concentrate much more of our efforts on local productive initiatives," he said while addressing the Jamaica Institute of Management (JIM)/Gleaner 2012 Manager of the Year Award ceremony held Thursday evening at King's House in St Andrew.
Bernard, who won the coveted award in 2010 and is also a fellow of the JIM, said the current circumstances of the nation call for sacrifice - for self, country and the future. He, however, said the sacrifice had to go beyond just accepting the NDX and the lower rate of return on government financial instruments.
"It will have to extend to us producing and consuming more things Jamaican."
Bernard said his greatest fear was that Jamaicans would take too long to get the message and overseas service suppliers would cease their negotiations as they were unable to pay. But he warned compromises had to be made.
"The reliability of our service and our products, that has to improve tremendously if we are going to make the kind of headway that we need to make."
Forbes installed as fellow
Sherwin Williams (WI) Limited boss Ian Forbes was presented with the award, and was also installed as a fellow of the JIM. The other 2012 nominees were Brenda Cuthbert, Patrick King, Ryan Mack, Ian Neita, Major Richard Reese, Wayne Powell, Michael McAnuff-Jones and Hugh Reid.
"I am truly humbled and honoured," said Forbes, who lauded his fellow nominees for their sterling work.
Forbes was not the only winner on the night. University of Technology (UTech) student Janordo Patterson received the George Phillip Scholarship, administered by the UTech Educational Foundation. The scholarship is named after the late educator who played a major role in the changeover from a technical college to a university.