Minister of Industry, Investment and Commerce, Hon. Audley Shaw, speaking at the virtual Caribbean Region Trade Mission and Networking event, hosted by the American Chamber of Commerce of Jamaica (AMCHAM) in partnership with the United States Department of Commerce's Commercial Service, and the US Embassy in Jamaica, at the Ministry's New Kingston offices on Tuesday, December 1, 2020. Other presenters at the virtual event are President, AMCHAM, Ann Dawn Young Sang; Chargé d'Affaires, US Embassy Kingston, John McIntyre; Chairman, Economic Growth Council, Michael Lee-Chin; International Trade Specialist, Renewable Energy and Thermal Power, US Department of Commerce, Christian Herman; Director, Tourism Linkages Network, Tourism Enhancement Fund, Carolyn McDonald Riley; Chairman, AMCHAM Trade & Investment Committee, Immediate Past President, AMCHAM, Allison Peart; Vice President, Americas U.S. Chamber of Commerce, Washington DC, Anne McKinney; CEO, NCB Capital Markets, Steven Gooden; and Managing Director, Sherwin Williams, Ian Forbes.
Industry, Investment and Commerce Minister, Hon. Audley Shaw, says that Jamaica's digital global services industry is being targeted for growth, and that the industry is projected to grow by 20% over the next four years.
Addressing an American Chamber of Commerce (AMCHAM) Caribbean Region Virtual Trade Mission and Networking Event at the Ministry's New Kingston offices on Tuesday, December 1, Minister Shaw informed that some of the areas of opportunity in this sector include applications development and maintenance; mobile/website development; marketing analytics; digital manufacturing; cognitive business operation; digital engineering, and data analytics.
Minister Shaw stated that focus has also been placed on growing Jamaica's agricultural sector through modernization and diversification, and the introduction of modern-day best practices that will improve the skill set of workers, reduce operational costs and revamp the whole agricultural environment for businesses to operate.
'Jamaica's economic landscape, like that of many other countries, has felt the ravages of the COVID-19 pandemic. However, it is our ability to grasp the opportunities that present themselves in these times that will see us through to the other side of the pandemic. Many Jamaican companies have not only managed to stay afloat, but have found new markets overseas and have given birth to new enterprises as entrepreneurs grasp the offshoots and opportunities that have been unearthed,' Minister Shaw said.
He added further that the government has also sought to enhance the landscape for doing business through several initiatives, one of which, he said is the National Five-Year Manufacturing Growth Strategy. The Strategy which has been passed by Cabinet is aimed at achieving $81 billion per annum in manufacturing output by 2025.
Meanwhile, Chairman of the Economic Growth Council, Michael Lee-Chin said that there are great investment opportunities, large and small in the Caribbean region.
'Jamaica today has the potential for great investment opportunities. We are building out Jamaica and opportunities are everywhere. There are opportunities in the financial services, logistics, agriculture, ICT and telecommunications, among others. Jamaica is open for business. Jamaica has an investor friendly government, is a great place to invest because there are better margins, a lot less risky, and is not as competitive as North America,' Mr. Lee-Chin added.
The webinar was hosted by the American Chamber of Commerce of Jamaica (AMCHAM), in partnership with the US Department of Commerce's Commercial Service, and the US Embassy in Jamaica.
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Ministry of Industry, Commerce, Agriculture and Fisheries of Jamaica published this content on 02 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2020 16:36:02 UTC
