2009-05-18

TEAM TO STUDY INVESTMENT FACILITATION IN CANADA

Minister of Industry, Investment & Commerce, Karl Samuda leaves the island for Canada tomorrow (May 19) at the head of a five-member delegation to study Canada’s concept for investment facilitation, and to examine how this process can be adapted and implemented in Jamaica. The mission will also seek to increase the team’s understanding of Canada’s Small Business Development support mechanisms, and the measures that are in place to safeguard the growth of the small business sector.

The Industry Ministry will be accompanied on the study tour by Mrs. Andrene Collings, Senior Director in the Ministry’s Commerce Division; Miss Valerie Vieira, CEO -  Jamaica Business Development Corporation (JBDC);  Mr. Robert Kerr, Manager, JTI’s Investment Support Services; and Miss Lorna Perkins, Modernization Projects Coordinator, Office of the Cabinet.

The team will spend four days in discussions with Canadian officials at both the federal and provincial levels to gain a deeper understanding of investment facilitation processes in that country. Specifically, the team will be reviewing Canada’s ‘one-stop-shop’ for investment facilitation, as well as the small business development practices implemented there.

The Jamaican delegation will also hold discussions with the Business Development Bank of Canada to examine how the Bank assists the small and medium-sized enterprises through financing, venture capital and consulting services.

Canada ranks sixth (6th) of 134 countries in the establishment of infrastructure that facilitates the ease of doing business. The country is also ranked by the United Nations Conference on Trade and Development (UNCTAD) among the top 15 destination countries for investments.

When he announced the mission earlier this year, Minister Samuda pointed to some of the challenges arising locally, in facilitating growth of business and trade. He said it was against this background that the Jamaican team is hoping to increase its understanding of the Canadian model, in order to enhance investments in Jamaica.

The team is scheduled to leave Canada on Saturday, May 23.

Judith Cousley
Tel: 929-8013
Ministry of Industry, Investment & Commerce