Business Monday: Positive outlook

LOCAL RUM producer, Mount Gay Distilleries, says it is exporting approximately 85 per cent of its production and at the same time earning vital foreign exchange for Barbados. Managing Director, Raphael Grisoni, gave this update Friday in addition to giving a positive outlook for the country’s economy, moments after participating in a staff award function at the Mount Gay Visitors Centre.

He said that the company’s exports are doing well as they are being driven by such markets as the UK, the United States, Australia, New Zealand and others like Singapore which has come on board in recent times. Dealing with the local market, Mr. Grisoni said that Mount Gay is also doing well “in all the bars, the restaurants, and sales at the (Grantley Adams International) Airport are going well”.

“So we can see and tell you that more people are buying Mount Gay Rum,” the Managing Director said. He told the media that people, including visitors to the island, are interested in a quality rum which they are finding with Mount Gay, especially the aged products. Grisoni termed this a good sign for Barbados which is a quality destination and the home of rum.

Noting that Mount Gay is earning vital foreign exchange through its exports, the Managing Director pointed out that there are not many companies in the Barbados manufacturing industry which are doing the same thing. “We are a company earning foreign exchange and we want to continue doing that,” he remarked.

He acknowledged that like other companies, there was some impact on the Mount Gay operations from the ongoing economic conditions. However, the company has been able to maintain its loyal customers by doing things to assist them. He said that next year will be an excellent period for both the company and the country. “I believe a lot in the leadership of Barbados. Prime Minister Mia Mottley is doing a good job and will restore the economy, and I am seeing signs of some foreign investment coming back to the island and that is a good sign,” Grisoni said.

Grisoni indicated that is positive in that it will redound to more investment and more jobs in the country, and people’s purchasing power will increase.

The company currently has 125 employees and awards were presented to a number of them at the function.