Minister of Industry, Investment and Commerce with oversight responsibility for Agriculture and Fisheries, the Hon Audley Shaw says Jamaica has started to show strong signs of recovery due to relations with the diaspora and retrievals in the services of goods-producing industries.
He said this resulted in a 12.9 per cent expansion on Gross Domestic Product (GDP) in the second quarter of this year.
Minister Shaw was addressing the second annual Caribbean Future Summit which was held virtually on Friday (November 5).
“One of the key assets in Jamaica’s success has been its large and growing diaspora. It is estimated that the diaspora numbers close to three million – as many as the current population of the island – and contributes over US$1 billion per annum in remittances to Jamaica,” he said.
Additionally, Minister Shaw stated that the diaspora continues to be one of the country’s greatest assets, therefore the Jamaica Promotions Corporation (JAMPRO) launched the Economic Diplomacy Programme in partnership with the Ministry of Foreign Affairs and Foreign Trade.
“This is a network devoted to the economic development of Jamaica and support for Jamaicans in the diaspora. Through this framework JAMPRO has been very successful in generating both business and investment interest in Jamaica,” he said.
Improvement is needed, however, for more job creation tailored to “the diaspora talent pool,” he added.
“We need to implement more opportunities for Jamaicans to fill jobs in our growing Digital Global Services Sector, fill executive posts in the tourism sector, and bring new technologies back to Jamaica,” he noted.
He was speaking under the theme, “From Diaspora Engagement to Investment – Connecting to the Caribbean’s Future Pillars – Tourism, Technology and Talent.”
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The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
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