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An Act to establish the Jamaica International Financial Services Authority for the promotion and development of Jamaica as a Centre for International Financial Services was passed in the House of Representatives, on Tuesday (February 8). Minister of Industry, Investment and Commerce, Hon. Karl Samuda, who piloted the Jamaica International Financial Services Authority Act, noted that the Authority will be charged...

The Government is making approximately 200,000 square feet (sq ft) of factory space available for rental to small businesses engaged in manufacturing, as part of initiatives to boost productivity in the sector. “We have under management at the Factories Corporation of Jamaica (FCJ) 1.9 million sq ft comprising 43 buildings, 21 of which are fully occupied, 14 are partially occupied...

The University of the West Indies (UWI) has partnered with the Jamaica Business Development Corporation (JBDC) to open a business centre on the Mona campus, which will help people with viable ideas to develop these into successful enterprises. Located at the Old Personnel Building, 4 Gibraltar Camp Way, the facility, which was officially opened on Wednesday January 26, is in...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, says there has been stability in the cement industry, and a reduction in market prices, since the introduction of the regime allowing the private sector to import up to 15 per cent of cement for the local market, free of the Common External Tariff (CET). "We have seen where there has...

Government is in discussions with 12 blue chip companies interested in investing in the Caymanas Economic Zone, which is being established in St. Catherine. Making the disclosure at a press conference at his Ministry, New Kingston, Thursday (January 6), Minister of Industry, Investment and Commerce, Hon. KarlSamuda, said that the companies have all expressed an interest in acquiring plots of the 200...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda says the Government will not be letting up on banks to reduce unfair and exorbitant service fees, and that the Consumer Affairs Commission (CAC) will expose such practices wherever they are found. Speaking at a press conference at his Ministry's New Kingston offices, today (January 6), Mr. Samuda said the government...

During 2009/2010, 708 charitable organizations took advantage of a six-month amnesty offered by the Companies Office of Jamaica's (COJ) to file outstanding documents. As contained in the Ministry of Industry, Investment and Commerce's performance report for its agencies up to May 2010, Cabinet gave approval for the COJ to partially waive fees for the filing of certain documents by non-profit...

The Trade Board, during the 2009/10 financial year, facilitated the export of products valued at US$209.12 million under various trade agreements. According to the report, which has been tabled in Parliament, exports to CARICOM grew by 73 per cent reflecting increased sales of cement to the region. There was a five per cent increase in applications for the importation of...

During the last financial year, the Scientific Research Council (SRC) continued to effectively serve the productive sector, policy makers and the general public through product research and development, providing quality scientific and technological solutions, and facilitating technology transfer. As set out in the Ministry of Industry, Investment and Commerce's performance report for its agencies up to May 2010, more than...

Local manufacturers and producers of high quality goods and services along with their products, were recently showcased in western Jamaica, when Jamaica Promotions Corporation (JAMPRO) staged two signature 'Business to Business' linkage events. They were held at the Negril Escape Resort and Spa, on November 30, and at the Sunset Beach Resort and Spa in Montego Bay, on December 1....

Minister of Industry, Investment & Commerce, Karl Samuda will represent Jamaica at the 31st Ministerial Meeting of the CARICOM Council for Trade & Economic Development (COTED), which opens in Georgetown, Guyana tomorrow, Thursday December 2nd. Minister Samuda will join other CARICOM Ministers to consider key Regional trade matters including Jamaica's proposal for a monitoring mechanism for cement in the Region;...

Industry, Investment and Commerce Minister, Hon. Karl Samuda, says efforts are being made to provide the Small Business Association of Jamaica (SBAJ) with a $50 million loan facility, to enable expansion of its operations. The money is to be allocated from $300 million which Prime Minister, the Hon. Bruce Golding, earlier this year announced was being provided for on-lending to...