NEWLY appointed Trade, Investment and Tourism Minister Satykama “Kama” Maharaj said his focus will be on diversifying the economy beyond oil and gas; expanding trade and exports; strengthening local manufacturing; driving investment and innovation and positioning tourism as a pillar of economic growth.
Maharaj, who was sworn in at President’s House, Port of Spain on May 7, is the founder of Sacha Cosmetics, which has been in business for 45 years. In a post on his Facebook page, Maharaj said he did not take the responsibility of being appointed minister lightly.
He was one of two final appointments to Persad-Bissessar's government with the other being PEP leader Phillip Edward Alexander who has been appointed a minister in the Ministry of Housing.
“It represents the culmination of more than 45 years of hands-on experience building, learning and leading. As the founder of Sacha Cosmetics, I've had the privilege of transforming a simple idea into a world-class brand.
"From developing inclusive products like our Amazon best-seller Buttercup Powder to navigating global exports, e-commerce, and international supply chains, every challenge has been a lesson. I now bring those lessons into national service.”
He called on the public to build a stronger, more diversified and resilient TT together.
Speaking to reporters following the swearing in ceremony, Maharaj said his first step would be to meet with his team in the ministry to determine a way forward.
“We have a fairly good idea of how we’re going to hit the ground running. We don’t have the luxury of time. I am by nature an action-oriented person, so there won’t be too much analysis-paralysis.”
He said two of the issues he would be addressing urgently are foreign exchange and the ease of doing business. He said he had very clear ideas on how these issues should be addressed.
Maharaj said the combination of the two ministries (formerly Trade and Industry and Tourism, Culture and the Arts) was geared towards an overarching objective of diversifying the economy.
“You want to diversify the economy with the manufacturing sector, investment and make tourism a major pillar of diversification, so it’s in the right place in my humble opinion.
“I don’t know yet what will happen to the staff of the Tourism Ministry. I would not want them to lose their jobs. I haven’t gone in yet to see what the situation is.”
He said he had started Sacha Cosmetics in his kitchen 45 years ago and it was now being sold in 50 countries.
“We have a product on Amazon with 10,000 five-star reviews. From the moment Amazon shifted from being a pure bookseller we were selling on Amazon. We’re the pioneers of e-commerce, so we bring a lot to the table. It’s a very unusual combination of strengths that almost nobody in the industry has.
“After 45 years in business, I know all the problems. I was awarded Entrepreneur of the Year by the TT Manufacturer’s Association and the TT Chamber of Industry and Commerce. I was also inducted into the World Entrepreneur of the Year Hall of Fa
