Forex Challenges And Crime Affecting Businesses

Shipping and logistics challenges, delays to clearing cargo, access to foreign exchange, and crime are at the forefront of what members of the Couva Point Lisas Chamber of Commerce face daily. President of the Couva Point Lisas Chamber of Commerce, Deoraj Mahase, touched on the issues at their Gala Christmas Dinner and Award Ceremony on Friday. "We have been actively seeking additional patrols, joint patrols where necessary, rapid processing of crime-related incidents, and further collaboration with the TTPS and the relevant National Security services. To that end, and as of yesterday, we met with the newly-appointed Senior Superintendent of the Central Division, Mr. Ian Carty." Mr. Mahase notes some businesses moved to online options during the pandemic. He says Small and Medium businesses are being affected by the Forex challenge and the limits on credit cards. "Credit card usage from a business aspect is not about shopping online for personal goods. Some cases, yes. It's about satisfying a businessman's ability to meet payments for goods with international merchants and in many cases for parts, services, and supplies, depending on the type of business you're in." To combat these challenges, Mr. Mahase recommends that business owners look at innovative ways to expand locally and export and throughout the Latin American and Caribbean region. He also has suggestions for the Government: "While we have seen matters being done to address the issue via the Exim Bank window and other avenues should be considered, possibly an auction system at the Central Bank. The fact remains that a more urgent and immediate approach is required with long-term objectives in mind." During the Gala Dinner, five awards were given out to the Couva Carnival Committee for Contribution to Culture, the Couva Sports Club for Excellence in Sports, the Robotics Team from Presentation College, Chaguanas for Excellence in Academics, Excellence in Business to Qualitech Machining Services, and a Humanitarian Award to Sajina Kadir.