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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...

The Consumer Affairs Commission (CAC) is looking to restructure its services and upgrade its human resource capacity, to enable more timely response to consumer complaints. As stated in a Ministry Paper tabled in the House of Representatives recently by Industry, Investment and Commerce Minister, Hon. Karl Samuda, the move is part of a number of measures to be undertaken by...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has announced the formation of a National Competitiveness Council (NCC) to improve efficiency in the export sector. Speaking during the 2010/11 Sectoral Debate in Gordon House this week, Mr. Samuda said the establishment of the body will place the systems pertaining to national competitiveness under one umbrella. "It was established in...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has said that some 300 permanent jobs will be created for residents of Hanover through the opening of Sandy Bay Sweets in June 2010. The Minister, who opened the 2010/11 Sectoral Debate in Gordon House on May 11, said that the confectionery manufacturing facility, which will be sited at the old...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has said that, despite 2009/10 being "the worst year for the flow of foreign direct investments around the world", Jamaica Promotions Corporation (JAMPRO) gave another creditable performance during the period. He said that in the area of employment, 4,574 jobs were created, representing approximately 69 per cent of the target for...

The first in a series of three symposia focusing on Jamaica's micro, small and medium-sized enterprise (MSME) sector got underway yesterday (May 12) on the Mona campus of the University of the West Indies (UWI). The series, being hosted by the university in collaboration with the Ministry of Industry, Investment and Commerce, and Jamaica Trade and Invest (JTI)/Jamaica Promotions Corporation...

The Ministry of Industry, Investment and Commerce is set to move its offices and at least two of its agencies to downtown Kingston in the coming months. Portfolio Minister, Hon. Karl Samuda, informed Parliament during his presentation in the Sectoral Debate, on May 11, that the Ministry is currently in the process of acquiring the five floors of the Air...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has clarified the operations of the Micro Investment Development Agency (MIDA) and the Jamaica Business Development Corporation (JBDC), countering claims that the organisations are functioning under "an institutional conflict of interest." He was responding to questions previously raised by Opposition Member of Parliament (MP), Phillip Paulwell (East Kingston and Port Royal),...

The Jamaica Promotions Corporation (JAMPRO) will this year be focusing its export promotion efforts on marketing niche products and on penetrating new markets. Opening the 2010/11 Sectoral Debate in Gordon House, today (May 11), Minister of Industry, Investment and Commerce, Hon, Karl Samuda, noted that during the last financial year, the economic downturn adversely affected demand for goods and services,...

Minister of Industry Investment and Commerce, Hon. Karl Samuda, has says that phase one of the Caymanas Economic Zone (CEZ) project in St. Catherine has been oversubscribed and the project has been expanded to accommodate the additional interest. The Minister, who opened the 2010/11 Sectoral Debate in Gordon House today (May 11), said that there had been "overwhelming" response from...