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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...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has indicated that the Factories Corporation of Jamaica (FCJ) intends to begin procurement procedures for an Information and Communications Technology (ICT) Park this year. Opening the 2010/11Sectoral Debate at Gordon House, Tuesday (May 11), the Minister noted that the Park would be located next to the "Caribbean's largest dormitory bedroom community",...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, lauded the achievements of the Private Sector Development Programme (PSDP), while opening the 2010/11 Sectoral Debate in the House of Representatives Tuesday (May 11). Mr. Samuda noted that the PSDP has participated in over 16,000 business interventions, and facilitated some $363 million in loans to 100 firms since its inception in...

A total of $35 million has been allocated, through the Bureau of Standards Jamaica (BSJ), to finance the Wooden Products and Furniture Incubator project for this year. "Over the duration of the three-year project, a total of $100 million is to be made available," Minister of Industry, Investment and Commerce, Hon. Karl Samuda, confirmed during the opening of the 2010/11...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has said that, within the next four months, a Business Hub is to be created at Jamaica Promotions Corporation (JAMPRO). Opening the 2010/11 Sectoral Debate at Gordon House, Tuesday (May 11), Mr. Samuda noted that the Business Hub will be on the ground floor of JAMPRO's head office in Kingston, and...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has said the government is seeking to streamline the business registration system, in a bid to minimise the issue of excessive bureaucracy, which is now crippling the sector. Opening the 2010/11 Sectoral Debate in the House of Representatives, today (May 11), Mr. Samuda said the Ministry was working to simplify the...

The Government has earmarked some $750 million to provide business loans to entities in the micro sector for the 2010/11 financial year, Minister of Industry, Investment and Commerce, Hon. Karl Samuda has informed. Mr. Samuda told the House of Representatives during his contribution to the 2010/11 Sectoral Debate, today (May 11), that in all, approximately $6.7 billion is available for...