Gov’t Working to Boost BPO Investment

Prime Minister, the Most Hon. Andrew Holness, says the Government is working to review its regulatory and legislative framework in order to make Jamaica the country of choice for business process outsourcing (BPO).

He cited the recent passage of the Special Economic Zone Act as among measures to modernise policies and processes to achieve greater efficiency.

He said emphasis is also being placed on providing a suitable and reliable infrastructure, favourable doing-business environment, and a high-quality English-speaking workforce to boost investment in the sector.

“The Government of Jamaica is investing in purpose-built facilities and ensuring that the necessary infrastructure, including the requisite housing, is in place to enable expansion of existing companies and establishment of new ones,” he noted.

Mr. Holness was addressing the official opening ceremony of BPO company IBEX Global in Portmore Pines on Thursday (October 27).

The Prime Minister said there is focus on training persons for the sector, including for higher-end BPO activities and high-value positions.

The BPO sector has been prioritised in Jamaica’s strategic development plan, Vision 2030, as a primary sector for economic growth. The industry has experienced significant expansion over the past five years, with some 45 such companies now operating in Jamaica.

Mr. Holness said an additional seven companies are expected to make investments in short order.

He said the estimated spend in the BPO sector grew from US$230 million in 2012 to some US$400 million in 2015, solidifying it as a critical area in the push for sustainable growth.

Employment has also moved from 12,000 in 2011 to more than 22,000 currently. This is expected to grow to a minimum of 30,000 in the next five years.

“BPO is not an option in this global world; it is an imperative for companies seeking to maintain competitiveness,” Mr. Holness said.

He noted that Jamaica will continue to capitalise on its location, information communication technology (ICT) capabilities and quality workforce to consistently meet client expectations.

“As the BPO sector evolves, Jamaica is ensuring that we adopt and innovate in order to scale and structure our service offerings to meet these changing needs. Jamaica is sending a resounding message that it is ready for investment and the Government is serious about its role as facilitator and enabler,” he said.