JIS News

The responsibility for ensuring that Jamaica’s economy benefits over the medium and long term from the hosting of the International Cricket Council (ICC) Cricket World Cup (CWC) in 2007, has been entrusted to Jamaica Promotions Corporation (JAMPRO), the trade and investment agency of the Government.
JAMPRO will develop and execute a two-pronged initiative that will position the country to take full advantage of the numerous business opportunities that could result from the staging of the cricket tournament in the Caribbean region next year.
Speaking at a press reception at the Jamaican Consulate in Manhattan on October 6, Melvin Smith, JAMPRO’s North American Regional Manager, said that the government would use the hosting of the CWC event to help level the playing field of the global economy, through the establishment of the Caribbean Business Club (CBC) and the Caribbean Business Opportunity Service (CBOS).
According to Mr. Smith, the staging of mega sporting events have brought positive changes in business development, trade and tourism for host cities, countries and region.
“A growing business trend today is for corporations, even competitors, to collaborate for mutual benefit. Companies have discovered that they need to form strategic partnerships that either leverage or complement their capabilities and resources if they are to be successful and achieve global leadership,” he said.
Mr. Smith noted that in the current environment of increased competitiveness and more discerning and empowered consumers, more companies are discovering the value of collaboration, especially across national borders.
“Any vehicle that can potentially provide a framework to facilitate collaboration is a value adding component to the process,” he said. The CBC is designed to be such a value adding component, providing a formal network for Caribbean and international business concerns to interact.
Its main objective will be to leverage the heightened spotlight that the Caribbean region will receive, into a platform for on-going business partnering and collaboration well after the event has passed.
While the CBC is a longer term proposition, its counterpart, the CBOS is geared to be more immediate, providing opportunities for Jamaican and Caribbean companies to trade in goods and services for major upcoming events and projects like the CWC.
Mr. Smith said that it was very important for regional business interests to take careful note of the CBOS, as it is expected to play a critical role in educating the community about key aspects of projects, like the CWC, that present a range of opportunities and possibilities.
“The CBOS will ensure the efficient flow of information between events and project organizers and their key contractors with local companies interested in supplying to the projects,” he said.
Mr. Smith was part of the promotional team from the Jamaica Local Organizing Committee (LOC) for CWC 2007, which met with the media and community groups in the Northeast USA from October 6 to 10.
Nine countries across the Caribbean will host the 16-team tournament from March 5 through April 28, an undertaking that Robert Bryan, Executive Director of the Jamaica LOC said was a big deal for the sports and the region in particular.