Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the country stands to benefit from several opportunities, resulting from devaluation of the Jamaican dollar. Speaking at the recent monthly meeting of the Rotary Club of New Kingston at Chasers Café, St. Andrew, Dr. Phillips said there is potential for a “whole range of investment activity”, which was not previously...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says implementation of the Economic Reform Programme (ERP) continues to yield positive and significant outcomes for Jamaica. Speaking at the Rotary Club of New Kingston’s weekly meeting, held at Chasers Café, Belmont Road, in St. Andrew, on August 15, Dr. Phillips said these successes include declining unemployment; increased infrastructural development; prospects...

Jamaica Customs Agency has launched a major, technology-driven system, aimed at streamlining and reducing the processes involved in cross-border import, export, and transshipment of goods. The Automated System for Customs Data (ASYCUDA), which is being implemented at a cost of US$4 million, is expected to speed up operations at the ports by fully automating export and import transactions. It allows...

Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, says Jamaica surpassed all the critical targets under the Extended Fund Facility with the International Monetary Fund (IMF), at the end of the first quarter of the current fiscal year. Mr. Byles, who was addressing the EPOC’s monthly press briefing on August 14, reported significant performance in the country’s primary...

Tax Administration Jamaica (TAJ) is to begin paying Income Tax refunds directly into bank accounts, instead of making payments by cheques. The TAJ says an Electronic Funds Transfer (EFT) Project is now being piloted to accommodate this change. Beginning August 2014, individuals claiming a PAYE Income Tax refund, including pensioners, will be required to submit their banking details in order...

A team from the International Monetary Fund (IMF), is expected in the island on Wednesday, August 13, to conduct the fifth review of Jamaica’s performance under the Extended Fund Facility. The IMF Mission to Jamaica is scheduled to be in the island from August 13 to 22. During that time, they will determine if Jamaica met all quantitative targets and...

The Development Bank of Jamaica (DBJ) has expanded this year’s second staging of its annual venture capital conference, following overwhelming response to the first one held in 2013. This year’s conference, being held under the theme: ‘Towards a Dynamic Ecosystem…Linking Capital, Innovation and Entrepreneurship for Growth’, will be held over three days, up from one in 2013, from September 8...