Industry Minister Continues Export Push

Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, has reiterated the call for the micro, small and medium-sized enterprise (MSME) sector to produce for the overseas market.

He said that exporting what we produce is key to becoming a rich nation.

“Every entrepreneur must understand that we must export; we must not only make things that Jamaicans will eat and buy. We must lift their minds to a place where exporting is key,” he said.

“We cannot become rich as a country if we are selling only to our population of three million people,” he added.

Minister Hill, who was delivering the keynote address at the launch of the MSME Business Roadshow at the Golf View Hotel in Mandeville, Manchester, on August 10, contended that if 25 per cent of MSMEs export US$1,000 worth of goods 12 times per year, it would bring earnings of US$1 billion for the year.

He said that as head of the ‘Business Ministry’ part of his job is to move per-capita gross domestic product (GDP) from just over US$5,000 to above US$13,000, “thereby making us able to compete with countries at the top”.

He said he was depending on the MSME sector to make that change.

Senator noted that the Companies Office of Jamaica (COJ), which is an entity under the Ministry, is there is assist MSMEs in becoming export-ready.

The COJ registers and regulates entities ensuring they are credible when conducting business globally.

Four roadshows are being held across the island in collaboration with the Inter-American Development Bank (IDB), to enable MSME operators to access information on business development support, government incentives as well as export opportunities.

The others will take place in Ocho Rios, Kingston and Montego Bay. The IDB has provided US$250,000 for the staging of the roadshows.

Minister Hill noted the Government’s commitment to supporting the MSME sector to propel the creation of jobs and growth in the economy.

“We are embarking on a journey to empower our MSMEs. The Business Roadshow is a platform for knowledge exchange, networking and inspiration, fostering an environment where these businesses cannot only survive, but thrive, hear from and inspire each other,” he said.

Climate Change Senior Specialist for the IDB, Gerard Alleng, said the bank recognises the need for the roadshows to provide targeted support and guidance to the small business operators where they are located.

He noted that many persons have to travel to Kingston to access services.

“For a small business, this can result in significant delays, loss of production and, ultimately, reduced revenues,” Mr. Alleng pointed out, noting that the roadshows will provide the entrepreneurs with access to more than 30 service providers like JAMPRO and Sagicor.

He said that the IDB is committed to promoting and providing support to private-sector firms in Jamaica.

“It’s part of our agreement with the country – a key element of which is private-sector development and removing barriers that might exist,” Mr. Alleng noted.

Other entities present at the Mandeville roadshow included Development Bank of Jamaica, DBJ, HEART/NSTA Trust, Agro Invest, Jamaica Special Economic Zone Authority, EX-IM Bank, Jamaica Manufacturers and Exporters Association (JMEA), Manchester Chamber of Commerce and sponsors Lynx and LASCO.

Among the day’s activities was a business pitch competition with outstanding pitches winning prizes provided by the DBJ.

Source: JIS