The Ministry of Finance and Planning makes the following clarification in relation to the reduction of import duties (CET) on horses, which were announced on Thursday, 12 March 2015 by Finance and Planning Minister Dr. the Hon. Peter Phillips during the Opening Presentation to the Houses of Parliament. As of Wednesday, 1 April 2015, the duty structure on all horses...

Opposition Spokesperson on Finance, Audley Shaw, has recommended that the Government develop an overseas work programme to provide more employment opportunities for Jamaicans outside of the traditional areas of farming and hospitality. He noted that the programme, which would be similar in structure to the farm and hotel work programmes, would reach a wider range of skilled Jamaicans, who are...

The Jamaica Customs Agency (JCA) is denying reports that the ports in Kingston were closed for three days due to the effects of the smog emanating from the fire at the Riverton disposal site. Chief Executive Officer of the JCA, Major Richard Reese, said no significant disruption was experienced at the ports. He told JIS News that the Adolph Levy...

Jamaica is currently ranked 64 out of 146 nations in the 2014 Forbes Best Countries for Business Report. Making the disclosure, Minister of Finance and Planning, Dr. the Hon. Peter Phillips, said this makes the country the best in the Caribbean region to do business and third in Latin America and the Caribbean. He was opening the 2015/16 Budget Debate...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the country passing all the required International Monetary Fund (IMF) quarterly tests, has helped to boost business confidence, which is currently at one of its highest levels. “It is the passing of these IMF tests why consumer confidence is growing in Jamaica,” the Minister said, while opening the 2015/16 Budget...

The Government is expected to make the first major repayment of $62 billion on maturing bonds issued under the National Debt Exchange (NDX), in the first quarter of the next calendar year. Making the announcement, Minister of Finance and Planning, Dr. the Hon. Peter Phillips, said the administration’s ability to make the payment next February, as scheduled, is due to...

The highly profitable Business Process Outsourcing (BPO) industry is poised to reap significant benefits for the local economy, with the generation of some 15,000 additional jobs over the next five years. BPO, which involves subcontracting various business-related operations to a third party provider, is considered one of the most promising areas for spurring job creation and development in the Jamaican...