Page 54 - PNM General Election 2020 Manifesto

• Facilitate the creation of regional value chains
• Promote and facilitate horizontal and vertical through production integration within CARICOM
diversification within the domestic
manufacturing sector to build economic PROMOTE AND FACILITATE RESEARCH,
resilience and fuel growth through: DEVELOPMENT AND INNOVATION

A) Strengthening backward and forward Technology is increasingly playing a crucial role in
linkages between the country’s energy and improving competitiveness in the Manufacturing
other sectors through clustering of the Sector. To facilitate and encourage the use of the
agriculture, energy, food and beverage, latest technology, the PNM will:
manufacturing, maritime and tourism sectors
• Encourage the development of research
B) Accelerating economic diversification focusing on the 4th Industrial Revolution and new
through the provision of fiscal and other areas of manufacturing geared towards
incentives to the manufacturing sector to accelerating the structural transformation in the
increase technology intensity of the country’s domestic economy
exports; and

C) Fostering downstream aluminium
production and other high value
manufacturing such as electronic assembly;
steel pan; textile and garment manufacturing
for the domestic fashion industry; and
pharmaceutical and nutraceuticals (including
medical marijuana); cosmetic and
petrochemical production

• Adopt new trends in global manufacturing such
as 3D printing, additive manufacturing, advanced
robotics, and blockchain

• Implement a Technology Solutions Tax Credit

•Implement a Research and Development capital
allowance

• Enhance the commercialization of ideas
• Develop in collaboration with the private through collaboration with UWI, CARIRI, the
sector, the banking sector and international academic community, and manufacturing
investors, the export potential of higher value- enterprises for technology development and
added products technology transfer

• Develop green industries for export as well as • Provide grant funding to establish “Proof of
inputs into the manufacturing sector Concept” or ultra-low interest loans to grow
existing innovative projects

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PNM THE RIGHT CHOICE ON AUGUST 10 People’s National Movement Manifesto 2020