Hill urges western businesses to tap US$2.4 billion reconstruction opportunities

Senator Aubyn Hill, Minister of Industry, Investment and Commerce, addressing the Montego Bay community at a meeting hosted by the National Commercial Bank and the Montego Bay Chamber of Commerce and Industry on Wednesday evening in Fairview, St James. Photo – Janet Silvera

Western Jamaica’s business community is being challenged to position itself for a share of US$2.4 billion in private-sector reconstruction opportunities, as the Government prepares to accelerate the rebuilding of communities devastated by Hurricane Melissa.

Minister of Industry, Investment and Commerce, Senator Aubyn Hill, issued the challenge on Wednesday evening during a meeting hosted by the Montego Bay Chamber of Commerce and Industry and National Commercial Bank (NCB) at Fairview, St James.

Hill said the US$2.4 billion represents the private-sector component of a wider US$6.5-billion recovery financing package, presenting significant opportunities for contractors, suppliers, transport operators and other businesses willing to invest and expand.

“What are the banks doing? What are contractors doing? What are businesses doing?” Hill asked, urging the business community to prepare for the scale of reconstruction ahead.

He pointed out that rebuilding would generate demand extending well beyond construction, as workers and communities would require food, transportation, housing, healthcare and other essential services.

The minister argued that Jamaica had entered a critical phase in which economic growth would depend increasingly on investment, rather than the traditional reliance on trading activities.

“The next phase is the growth stage, and growth means you have to invest,” he declared.

Hill said too many Jamaican businesses had become comfortable after achieving financial success, without reinvesting sufficiently to expand their operations or create new opportunities.

He urged chamber members, including newly inducted businesses, to adopt a long-term approach to growth, develop succession plans and prepare the next generation of entrepreneurs.

The minister also used the meeting to update western business operators on the Government’s $500-million Micro, Small and Medium-sized Enterprise (MSME) Restoration Grant Programme, launched on October 6 to assist enterprises affected by Hurricane Melissa.

Eligible small business operators may receive grants of up to $350,000, although the actual amount awarded will depend on assessments of their losses, needs and eligibility.

Hill emphasised that the assistance was not a loan and would not attract interest or repayment obligations.

“So we are here with $500 million to give as grant. It’s not a loan,” he told the gathering.

He warned that no applicant should pay anyone to register for the programme.

“Nobody, nobody, nobody must pay any fee to register,” Hill insisted, describing anyone demanding payment as a scammer.

The programme provides assistance to tradespeople who lost tools and equipment, as well as small business operators requiring support to replace stock or restore damaged premises.

Hill explained that informal workers without formal business records could still apply, provided their occupation and losses were verified through the required process.

Applications close on November 16, with the Government targeting early December for the distribution of assistance.

To strengthen accountability, beneficiaries will not receive direct cash payments. Instead, assistance will be provided through a digital arrangement allowing approved applicants to obtain supplies from designated retailers.

Hill said the system was intended to ensure that public funds were used for their intended purpose.

“It’s taxpayers’ money,” he reminded the audience.

The minister reported significant interest in the programme during outreach activities across western Jamaica.

More than 500 people attended an engagement in Savanna-la-Mar, Westmoreland, earlier Wednesday, while another 124 participated in Lucea, Hanover.

Approximately 400 people were also reached during previous visits to Black River and Santa Cruz in St Elizabeth.

Hill said ministry personnel were assisting applicants with online registration, recognising that some small business operators, particularly those in rural communities, might have difficulty navigating electronic systems.

He said the Government had deliberately taken the programme into affected communities to ensure that assistance reached those who needed it.

– Janet Silvera

Source: The Gleaner