Jampro’s Export Max III gets $1-m investment to bolster export development
EXPORT Max III, the export development programme spearheaded by Jamaica Promotions Corporation (Jampro), is to benefit from $1 million in financial assistance from business development firm Carbyne Capital Investments.
The programme, which is also supported by the Jamaica Manufacturers and Exporters Association (JMEA) and the Jamaica Business Development Corporation (JBDC), aims to increase Jamaica’s export sales, with the goal being to bring more than 40 Jamaican companies to new international markets. The initiative launched by Jampro in 2011 has grown significantly over the years, starting with some 15 companies in its first phase and now up to 50 in its third phase. The fourth phase of the programme is expected to be rolled out next year.
Carbyne, which has a special interest in enabling small and medium-sized enterprises (SMEs) to access larger markets both domestically and internationally, said that its desire to partner with the Export Max programme stems from the fact that its mandate aligns well with that of their organisation.
“Carbyne recognises the positive impact of the Export Max programme on generating employment opportunities and foreign exchange earnings for the country and has committed sponsorship to this valuable initiative,” said Rajiv Ebanks, co-founder of Carbyne during a recent handover ceremony.
Carbyne further said that through its commitment to national development and the development of clients, the entity will leverage its bespoke factoring solutions to ensure participants in Export Max III are able to meet the demands and credit terms of the international supply chains.
Jampro President Diane Edwards, in thanking Carbyne for its assistance to the programme, deemed the recent partnership as critical to the development of Export Max III.
“Not only do they provide monetary assistance, but they also have the experience on the ground to provide solutions for challenges faced by SMEs. We are therefore grateful for their assistance and we look forward to more opportunities for further collaboration to develop exports,” she stated.
Just late last year Edwards urged more private sector companies and financial donors to support and sponsor the initiative in order for it to expand.
Export Max, the national enterprise development programme for export growth, is geared towards providing capacity building for exporters, market penetration support, and increasing the number of active local exporters. Through its multi-agency support the programme also offers mentorship, business development and sales training. Its main objective, however, is to improve the competitiveness of Jamaican exporters and SMEs as it drives an increase in their export earnings and diversification of the nation’s export products.
The programme seeks Jamaican-made products in a wide range of areas, spanning agro-processing, manufacturing, chemicals and cosmetics among other services including film, animation, education, music and information technology-enabled services.