Nutraceutical Industry to Boost Earnings and Job Creation – Minister Hylton

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, says Jamaica stands to benefit from the establishment of a nutraceutical industry through increased earnings and job creation.

“The development of these industries will allow us to move towards a stronger and more prosperous Jamaica, one characterised by increased foreign exchange earnings and increased employment, and improved social and economic well-being of all persons involved,” Minister Hylton said.

The Minister was addressing the launch of the National Nutraceutical Industry on March 6, at Hope Gardens, St. Andrew.

He said there is also the benefit of export diversification, which will “allow our country to make better use of open distribution channels, which is key as we look to enter global supply and value chains within the international trading system.”

Nutraceuticals are food or food products that are purported to provide health and medical benefits, including the prevention and treatment of diseases. Jamaica is home to more than 80 plants, which are said to have these benefits.

Minister Hylton said with the formation of the nutraceutical industry, “the opportunities to develop the industrial hemp and medical marijuana industries become further magnified.”

Parliament has passed legislation to provide for regulation, through the granting of licenses, to permit the development of a lawful industry for medical ganja and industrial hemp.

Minister Hylton informed that a cross-Ministry consultative group has been established, and draft regulations governing the industrial hemp industry “are at hand and will be shared with key stakeholders.”

According to the Minister, focus is on the “regulatory framework for standards development, intellectual property protection, investment promotion, and involvement of our micro, small and medium-sized enterprises, in order to enable the development of the industrial hemp and medical marijuana industries.”

Minister Hylton urged investors to make quality the main element in all the products that they manufacture, as both the local and international markets will not settle for anything less.

He said the Bureau of Standards Jamaica (BSJ) has undertaken work to create a roadmap to chart standards development of industries in the nutraceutical sector.

The Minister informed that the Jamaica Intellectual Property Office (JIPO) will be playing a key role in protecting creations in the industry.

The agency will be examining the intellectual rights of the Rastafarian community, in respect of traditional knowledge and cultural expressions, with the assistance of the World Intellectual Property Organization (WIPO).