JAMPRO to Connect Diaspora Investors with Local Businesses

The Government’s trade and investment company, JAMPRO, will be bringing in investors from North America and the United Kingdom to connect with local businesses during next month’s staging of the Diaspora Conference in Montego Bay.

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, said the agency will execute a ‘Business Connect’ strategy at the conference, and mount a major Jamaica Logistics Hub Pavilion, in partnership with logistics services providers in the Diaspora marketplace.

Minister Hylton, who was making his contribution to the 2013/14 Sectoral Debate in the House of Representatives on Tuesday, May 14, said JAMPRO will be aggressively going after business with the Diaspora “like never before”.

He pointed out that the Diaspora is still an untapped investment market for Jamaica, even though overseas Jamaicans are already making significant investments in the country.

He identified one such person as businesswoman, Beverly Johnson, who operates the ISOCON-JLB ISO-Tanker Cleaning Facility at the Kingston Freezone. Ms. Johnson runs a freight forwarding business, connecting Jamaicans in the major Diaspora centres around the world with Jamaica. She has partnered with Scottish businessman, Michael Kane, who owns ISOCON (which transports the bulk of Johnny Walker Scotch Whiskey worldwide) and their enterprise has made Jamaica a regional hub for the cleaning, repair and maintenance of food-grade tanks.

Minister Hylton also informed that JAMPRO has been mandated to accelerate its efforts to promote investments and business in those sectors of the economy that stand to yield the greatest growth.

These areas include logistics; manufacturing and agro-processing; Information Communication Technology (ICT)/Knowledge Process Outsourcing (KPO)/Business Process Outsourcing (BPO); tourism, in particular medical tourism; creative Industries and energy and mining.

Mr. Hylton pointed out that Jamaica is on a strong growth trajectory to become the leading regional destination for investments in ICT/KPO/BPO and high-tech industries.

He revealed that the BPO sector is one of the fastest generators of employment and Government’s goal is to at least double the existing capacity and employment generation within the sector. This is currently a US$200 million industry in Jamaica employing some 14,000 persons, Minister Hylton noted.

He also pointed to the synergies between Jamaica’s powerful creative industries and ICTs, including the opportunity for the development of a robust animation industry.

He said Jamaica wants a piece of the over US$100 billion, which was generated in global animation revenue last year.

“We are already making strong early strides with the launch of GSW Reel Rock Studio, Jamaica’s first multi-functional animation studio, started by local Jamaican investors. This project came out of a meeting, facilitated by JAMPRO, between the principals of GSW Reel Rock and the international animation firm, Toon Boom Animation. It has also resulted in the formation of the Jamaican Animation Nation, an association of animation practitioners,” Minister Hylton informed.

He also noted that there is a cultural and creative Industries desk within JAMPRO, where extensive promotional work is taking place, particularly relating to the film industry.

Contact: Andrea Braham