Jamaica's digital global services industry targeted for growth, says Shaw

Jamaica's digital global services industry targeted for growth, says Shaw

Wednesday, December 02, 2020

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KINGSTON, Jamaica — Industry, Investment and Commerce Minister Audley Shaw says Jamaica's digital global services industry is being targeted for growth, and that the industry is projected to grow by 20 per cent over the next four years.

Addressing an American Chamber of Commerce (AMCHAM) Caribbean region virtual trade mission and networking event at the ministry's New Kingston offices yesterday, Shaw said some of the areas of opportunity in this sector include applications development and maintenance; mobile/website development; marketing analytics; digital manufacturing; cognitive business operation; digital engineering, and data analytics.

He said that focus has also been placed on growing Jamaica's agricultural sector through modernisation and diversification, and the introduction of modern-day best practices that will improve the skill set of workers, reduce operational costs and revamp the whole agricultural environment for businesses to operate.

“Jamaica's economic landscape, like that of many other countries, has felt the ravages of the COVID-19 pandemic. However, it is our ability to grasp the opportunities that present themselves in these times that will see us through to the other side of the pandemic. Many Jamaican companies have not only managed to stay afloat, but have found new markets overseas and have given birth to new enterprises as entrepreneurs grasp the offshoots and opportunities that have been unearthed,” Shaw said.

He added further that the government has also sought to enhance the landscape for doing business through several initiatives, one of which, he said is the national five-year manufacturing growth strategy. The strategy which has been passed by Cabinet is aimed at achieving $81 billion per annum in manufacturing output by 2025.

Meanwhile, Chairman of the Economic Growth Council, Michael Lee-Chin, said that there are great investment opportunities, large and small in the Caribbean region.

“Jamaica today has the potential for great investment opportunities. We are building out Jamaica and opportunities are everywhere. There are opportunities in the financial services, logistics, agriculture, ICT and telecommunications, among others. Jamaica is open for business. Jamaica has an investor friendly government, is a great place to invest because there are better margins, a lot less risky, and is not as competitive as North America,” Lee-Chin added.

The webinar was hosted by the AMCHAM in partnership with the US Department of Commerce's Commercial Service and the US Embassy in Jamaica.

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