Discussions under way for special fund for micro and small enterprises – Shaw

Minister of Industry, Commerce, Agriculture and Fisheries, the Hon. Audley Shaw, says discussions are under way to develop a special fund to support the development of micro and small businesses.

The Minister was addressing the Christmas in July trade show held Thursday, July 19 at The Jamaica Pegasus hotel in Kingston, organized by the Tourism Linkages Network to market local products created by small businesses.

Minister Shaw said he has a draft Cabinet Submission which he has discussed with the Minister of Finance to utilize unclaimed funds in dormant accounts, amounting to some $15 billion to create the Special Fund for the MSME sector.

Stating that it was time to “stop paying lip service to the tourism linkages concept”, Minister Shaw bemoaned the sharp decline in production of local produce such as coffee as a result of “excessive imports, while we ignore the production process”.

Minister Shaw commended the Sandals hotel chain for the 4.9 million pounds of local produce bought from local farmers last year and declared that his Ministry along with the Ministry of Tourism was going on a crusade to engage more hotels in utilizing local produce and products in the tourism sector.

Other initiatives being planned to boost production in the MSME sector include the provision of factory space for agro-processing at the old AMC complex on Spanish Town Road in Kingston.

Christmas in July 2018 was the fourth annual event organized by The Tourism Linkages Network of the Ministry of Tourism in partnership with the Jamaica Business Development Corporation, Jamaica Manufacturers and Exporters’ Association, Jamaica Promotions Corporation and the Jamaica Hotel and Tourist Association and featured an exhibition of locally produced corporate gifts and souvenir items. Some 115 exhibitors participated and showcased a variety of authentic Jamaican products.

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