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Minister of Industry, Investment and Commerce, Hon. Karl Samuda, says his Ministry will be keeping a very close eye on the movement in electricity costs over the next few months, particularly as it relates to the productive sector. Mr. Samuda told journalists that his office has been in dialogue with the Office of Utilities Regulation (OUR) to ascertain the possibility...

Some 50 new buyers have registered for this year's Expo Jamaica 2010, in the last three weeks, despite the negative impact that the recent unrest in sections of West Kingston have had on Jamaica's image, Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has said. He said this was a clear indication that there is some level of confidence...

Jamaica Promotion Corporation (JAMPRO) will be launching a major international marketing campaign to regain the interests of investors following the unrest in sections of West Kingston. "JAMPRO will be embarking on intensive dialogue with existing investors, those who are already here, and also those who we wish to encourage to come here," Industry, Investment and Commerce Minister, Hon. Karl Samuda,...

The Government has ordered an investigation into the 3.2 per cent increase in cement prices introduced by the Caribbean Cement Company Limited (CCCL), recently. Minister of Industry, Investment and Commerce, Hon. Karl Samuda, told journalists at a press conference at his office, St. Lucia Avenue, New Kingston, on Tuesday (June 15), that the Government was extremely concerned about the reasons...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has announced a ban on the importation of used motor vehicle tyres, effective July 1. Speaking at a press briefing at his office on St. Lucia Avenue, in New Kingston, today (June 15), Mr. Samuda said the ban would not be permanent or indefinite, but would remain in place until the...

President of the Jamaica Exporters Association (JEA), Mr. Vitus Evans, is optimistic that the export sector can increase its contribution to gross domestic product (GDP) from one-fifth to one-third in keeping with the National Export Strategy (NES). Being implemented by the JEA in association with JAMPRO/Jamaica Trade and Invest (JTI), the NES aims to guide the development of the export...

President of the Jamaica Chamber of Commerce (JCC), Milton Samuda, is encouraging Jamaicans to engage in a spirit of volunteerism critical to nation building. "Volunteerism is dying in Jamaica, and we hope shortly to unfold a campaign which will promote it, but we encourage you to encourage others who are connected with you to volunteer and to give of time...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has urged local laboratories to become accredited in order to meet international standards. He expressed concern that only one of the more than 80 laboratories in the country has so far been accredited to internal standard. "I am concerned because...we have 83 labs in the country and none of them are...

President of the Jamaica Exporters' Association, Vitus Evans, has called for small exporters to begin working together to ensure they do not miss out on opportunities in the international market. "We need to embrace the concept of collaborating to compete with the rest of the world," Mr. Evans told stakeholders attending the launch of National Exporters' Month, at the Jamaica...

A total of 424 cases were investigated by the Fair Trading Commission (FTC) last year, with 266 being completed and closed, a resolution rate of 63 per cent. Some 209 complaints were also received during the 2009/10 fiscal year with 59 complaints received for the telecommunications industry; 26 for household appliances and supplies; 20 for motor vehicles; 18 for financial...

The Factories Corporation of Jamaica (FCJ) sold four properties, realising net proceeds of $43.4 million, during the financial year 2009/10. According to a Ministerial Report, tabled recently in the House of Representatives by Minister of Industry, Investment and Commerce, Hon. Karl Samuda, 15 properties are in the process of being sold, totalling $560.2 million, with anticipated net sale proceeds of...

The Kingston Free Zone (KFZ) made a profit of $55.17 million for the financial year ending March 31, 2010, as the company, despite the economic recession, made efforts to meet its targets, mainly through prudent management of expenditure and strong client servicing practices. Foreign exchange earnings from rental income and management fees for the year totalled US$1.02 million, while $59.52...