JIS News

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  • Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, says that Jamaica is on the rise, with progress in various areas of the economy.
  • “Our country is on the rise. The important element is that we have fixity of purpose to ensure that sustained economic growth is achieved amidst an equitable distribution of income and wealth,” he stated.
  • The Minister said the integration of MSMEs in the global supply chain “is about the participation of domestic value-added industries, especially in emerging and new industries, for which a competitive advantage can be demonstrated.

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, says that Jamaica is on the rise, with progress in various areas of the economy.

He said several business indices, including the Logistics Performance Index, the Global Competitiveness Index, and the Doing Business Report, are all showing improvements in areas key to attracting investments for economic growth and stability.

“Our country is on the rise. The important element is that we have fixity of purpose to ensure that sustained economic growth is achieved amidst an equitable distribution of income and wealth,” he stated.

Minister Hylton was addressing an economic growth symposium held yesterday (October 3) at the Knutsford Court Hotel, in St. Andrew.

He underscored the role that the Micro, Small and Medium Enterprise (MSME) industries play in economic stability and growth.

He said with the sector employing some 30 per cent of the country’s engaged workforce, the Government has placed MSMEs at the centre of its growth strategy, while reducing impediments to their growth and development.

The Minister said the integration of MSMEs in the global supply chain “is about the participation of domestic value-added industries, especially in emerging and new industries, for which a competitive advantage can be demonstrated. This is the basis for the push towards the development of our creative industries through Information Communications Technologies (ICT), including animation and digital technologies.”

 

He noted that Government has also provided technical assistance to the sector, citing support for standards development through the Bureau of Standards Jamaica (BSJ); business development support through the Jamaica Business Development Corporation (JBDC); financing through the various funding agencies under his Ministry; and legislation to deal with business survival.

Also addressing the forum was Minister of State in the Ministry of Science, Technology, Energy and Mining, Hon. Julian Robinson, who provided an update on the ‘Start Up Jamaica’ initiative, and how it is helping entrepreneurs, who have ideas, but lack funding.

The two-day symposium was held under the theme: ‘Economic Growth Through MSMEs, Creating an Integrated Strategy.’