Diaspora Investors Showing Interest in Jamaica’s Agricultural Sector

Jamaican Diaspora investors have been showing interest in the recently launched Southern Plains Agricultural Development (SPAD) project, which aims to improve crop production in St Catherine and Clarendon.

The project, being supported by the Government of Jamaica, the United Kingdom (UK) Caribbean Infrastructure Development Fund and the Caribbean Development Bank (CBD), will revitalise more than 795 hectares of lands with state-of-the art infrastructure, including modern irrigation systems and improved road networks.

Information on the SPAD project is being shared by the Agro-Investment Corporation (AIC), an agency of the Ministry of Agriculture, Fisheries and Mining, one of several public entities participating in the 10th Biennial Jamaica Diaspora Conference, which runs from June 16 to19 at the Montego Bay Convention Centre (MBCC) in St. James.

Approximately 50 exhibitors from the private sector, public institutions and small enterprises are showcasing their products and services during the ‘Government-At-Your-Service’ exposition and Marketplace at the Convention Centre.

“We are just in the first month [of the SPAD project’s implementation] and we have received a large number of inquiries and some amount of applications so far,” AIC Chief Executive Officer (CEO), Vivion Scully, told JIS News on Monday (June 17).

He urges Jamaican farmers and diasporans to invest in the country’s agriculture sector.

“We are looking to roll out more agricultural lands for orchard crops – mangoes, breadfruit, ackee and avocado. We have some amount of land, about 300 acres, available to support orchard crops on the Southern Plains Project,” Mr. Scully informed.

He said interested persons can apply online via the agency’s website – www.agroinvest.gov.jm/spad or email their applications to applications@agroinvest.gov.jm.

Additionally, there is information on the website on crop production, technical advice and guidelines on the application process.

Mr. Scully said the project will transform lands in Amity Hall/Bridge Pen, St. Catherine and Parnassus, Clarendon into highly productive agricultural areas.

“We’re hoping to have these lands delivered to prospective investors by the end of this year and the second tranche by September of next year, as we complete the irrigation water supply that is going to service these farms,” he informed.

The CEO said qualified investors will receive a startup grant ranging between $150,000 and $600,000 to kick-start their projects.

Regarding the pre-qualification criteria for farmers, Mr. Scully said this will be based on crop selection, proof of capital and agricultural production plans submitted by investors.

“Also, some arrangement on how you are going to be selling and distributing these products that you did to get revenue. We want you to produce and we want you to be able to sell these products as well,” he added.

The CEO said persons will also be encouraged to plant cash crops, such as hot peppers, potatoes, cassava, dasheen and vegetables, in addition to orchard crops.

“We are also creating export opportunities for some of these products to supply exporters who have a demand overseas,” he added.

“Overall, agriculture contributes approximately eight to nine per cent to the gross domestic product. So our long-term goal is to see this going upward so [that] we can play a more significant role in our economic growth and development,” Mr. Scully further stated.

This year’s Diaspora Conference is being staged under the theme ‘United for Jamaica’s Transformation: Fostering Peace, Productivity and Youth Empowerment’.

The event is being sponsored by Legacy Partners – the GraceKennedy Group, JN Group and VM Group; Platinum Sponsors, including Blue Mahoe Capital, a diaspora-based company; Digicel; Island Car Rentals; Jamaica Tourist Board, and National Bakery; Gold Sponsors – Pinnacle Development and National Housing Trust; and Bronze Sponsors – Jamaica Money Market Brokers, Jamaica Stock Exchange and Students’ Loan Bureau.

Other partners are MBCC, Iberostar Hotel, Ocean 10 and Ocean Eden Bay Hotels.