The Consumer Affairs Commission (CAC) says a Code of Conduct has been drafted to govern how microcredit institutions (MCIs) should operate under the Microcredit Act.  The Microcredit Act, passed in 2021, will take effect in July. The Act aims to formulate procedures for the licensing and regulation of MCIs that provide financing to individuals and operators in the micro, small...

Approximately 700 visitors are expected to be in Jamaica for next month’s staging of the World Free Zones Organization (World FZO) Eighth Annual International Conference and Exhibition (AICE). The four-day event, which is being held in the Caribbean for the first time, will take place from June 13 to 17 at the Montego Bay Convention Centre, St. James. The conference...

To facilitate ease of trade, inspection matrices and protocols have been finalised to improve efficiency in the physical inspection of commodities at the borders by Border Regulatory Agencies (BRAs), says State Minister in the Ministry of Industry, Investment and Commerce, Dr. the Hon. Norman Dunn. He points out that the Veterinary Services Division (VSD), Food Storage and Prevention of Infestation...

Several pieces of legislation governing manufacturing and export are being targeted for review by the Ministry of Industry, Investment and Commerce. This is with a view to effecting changes, where needed, that will serve to spur increased activities in these areas, thereby contributing to Jamaica’s attainment of higher levels of sustainable economic growth. Portfolio Minister, Senator the Hon. Aubyn Hill,...

A digital transformation support programme is being designed for micro, small and medium-sized enterprises (MSMEs), to aid in the adoption of technological solutions that will improve sustainability and advance the sector’s growth. The initiative, which will involve the integration of specialised digitalisation business development support, is being undertaken by the Industry, Investment and Commerce Ministry with the support of the...

The Government is strengthening Jamaica’s capacity to attract higher value-added global services sector (GSS) investments, by improving the supporting legislative framework. Minister of Industry, Investment and Commerce Senator the Hon. Aubyn Hill, said he is leading the charge to have “appropriate, business-friendly” legislation enacted. This, he adds, is to ensure that local and foreign direct investments are managed within a...

Earnings generated by Jamaica’s Global Services Sector (GSS) is estimated to have more than doubled over the last six years, climbing from US$400 million in 2016 to US$900 million. This was disclosed by Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, who said that employment within the sector jumped from 17,000 direct employees operating in 30 companies...