Author Archives: donovan.saunches

The Ministry of Industry, Investment and Commerce has announced that, for fiscal year 2021-2022 the Government’s Productive Inputs Relief (PIR) resulted in $109,290,084,368 worth of duty and tax relief to the local manufacturing sector. “We have been very deliberate about creating avenues for real growth in domestic production and exports,” said Senator Aubyn Hill, ministerContinue reading “Local manufacturing sector gets large benefits”

The National Compliance and Regulatory Authority (NCRA) is playing a key role in ensuring that Jamaica has a strong national quality infrastructure (NQI) that creates opportunities for expanding trade, which is crucial to economic development. The NQI is a platform to strengthen the quality and standard threshold for locally produced goods and services based onContinue reading “National Compliance and Regulatory Authority a Key Part of the Quality Infrastructure”

With over $1 billion in its portfolio left to lend this year, business development executive with the National Export-Import Bank of Jamaica (EXIM Bank) Winston Lawson has bemoaned the slow pace of take-up for loan products offered by the development financing institution. “I think EXIM has put together loan products that are feasible and areContinue reading “EXIM bemoans slow take-up of loans”

Minister of State in the Ministry of Industry, Investment and Commerce, Dr. the Hon. Norman Dunn, has reiterated the importance of upskilling Jamaica’s workforce to take up management and leadership positions under the Global Services Sector (GSS) Apprenticeship Programme. He said the programme is crucial for the transfer of knowledge in the sector which, notingContinue reading “Workforce Upskilling Deemed Key for Local Take-Up of Top Tier Global Services Jobs”

Many investors are looking towards the island to do business, as the Jamaican economy is performing well, says Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill. Addressing the Sagicor/PriceSmart credit card launch in Portmore, St. Catherine, on October 28, the Minister argued that the climate for investors is right, and consumer confidenceContinue reading “Investors Looking to Do Business in Jamaica – Industry Minister”

Inventors and entrepreneurs can now access funding support under the Development Bank of Jamaica (DBJ) $100-million patent grant facility. Manager for DBJ’s Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme, Christopher Brown, made the announcement during a Jamaica Information Service (JIS) Think Tank at the agency’s head office in Kingston on Thursday (October 27). TheContinue reading “$100M DBJ Patent Grant Facility Now Available to Entrepreneurs and Inventors”

The Senate, on Friday (October 28), approved the appointment of a Special Select Committee to review the Bail Act, 2022. The legislation, which will reform the bail framework in the criminal justice system, comprises 24 Clauses and four schedules. It will repeal and replace the existing Act of 2000. Committee members from the Upper HouseContinue reading “Senate Approves Parliamentary Committee Appointed to Review Bail Act, 2022”

Invest Jamaica is a high-level investment conference, to be held over two days, will focus on delivering impactful face to face engagements between 400 specially invited investors and senior business executives from across the globe. This forum will showcase Jamaica’s investment potential, highlight various sector-based opportunities to the global business market and present the InvestContinue reading “INVEST JAMAICA 2022 BUSINESS CONFERENCE”

The Government continues to implement key initiatives aimed at increasing the ease of doing business in Jamaica. Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, notes that “we have been digitalising our services with initiatives such as the national business portal, which (Jamaica Promotions Corporation) JAMPRO manages”. “This Ministry is also targetingContinue reading “Gov’t Initiatives Ongoing to Facilitate Ease of Doing Business”

More focus must be placed on exports to improve the country’s trade gap, says Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill. Citing 2021 data, the Minister said Jamaica imported products and services valued at US$5.975 billion, as against exports valued at US$1.441 billion. The Minister was making his contribution to theContinue reading “Industry Minister Says Country Must Increase Exports”