Minister Hylton Invites Comments on Security Interests in Personal Property Bill

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, is inviting persons involved in the creative industries to contribute to debate on the Security Interests in Personal Property Bill.

He was addressing a press conference held on Thursday, August 29, on the University of the West Indies’ Mona campus to examine Jamaica’s progress since ‘KingstOON’.

The legislation, which is currently before Parliament, is part of a mix of statutes, policies, and programmes being implemented by Government, as it moves to position the creative industries, including animation, to be among the leading foreign exchange earners for Jamaica.

Mr. Hylton informed that when Parliament resumes, a Joint Select Committee will be set up to examine the Bill and urged interested persons to “watch and participate in it if you have comments or concerns”.

“You can let the Ministry know or speak to the Clerk of the Houses of Parliament and say you want to comment on this as it affects you as a creative industry. We will get your comments and we will invite you if you want to come down to the Parliament to participate in it, but it is very important,” the Minister said.

Among other things, the Bill addresses the use of intellectual property as collateral for business.

Mr. Hylton noted that currently, “if you don’t own real estate or some very valuable property you really don’t have a basis for collateral for raising financing for your businesses.” This, he said, particularly affects the Micro Small and Medium-Sized Enterprises (MSME) in which most of the creative industries fall.

“That Bill, when passed, will revolutionise the financing sector, but it will empower the creative people in the creative industry in Jamaica,” Mr. Hylton stated.

Other measures being implemented by Government to assist the sector, includes  the MSME and Entrepreneurship Policy, which is intended to facilitate growth and strengthen the role of entrepreneurs.

He noted that the Ministry is currently meeting with stakeholders to develop an action plan to implement the policy.

“The policy is one thing but we have to (put) action (to) it. We have to find some practical ways to operationalise the policy,” he stated.

For her part, Country Director for the World Bank, Sophie Sirtaine informed that the Bank is about to start discussions with the Government on the way forward for the animation sector in Jamaica.

“One of the pillars we want to support is regarding the initiatives that will help share prosperity, in other words, put Jamaica on a prosperous path for the future including finding sources of job creation, of competitiveness and of growth,”  Mrs.  Sirtaine said.

She also noted that the animation industry can be a source of jobs, growth and competitiveness for Jamaica in the long-term.

“What I have seen so far is the beginning of something that can have the prospect to be sustainable because you have this partnership and have brought the key elements together. You have the skill set being built in a sustainable manner and have programmes being developed,” the Country Director said.

KingstOON was a two-day conference and animation festival, held at the University of the West Indies (UWI) campus in June. It was designed to serve as a catalyst for the various efforts to develop the animation industry, and attract investors.

It also sought to give visibility to the pool of talented young Jamaicans and regional artists; identify key challenges in the industry, and examine feasible solutions, which will allow Jamaica to be part of the global network for outsourcing and creative content.

KingstOOn was organised by the Government in partnership with the World Bank, the Canadian High Commission, and Jamaica Promotions Corporation (JAMPRO).