Jamaican Government Programmes US$950M CapEx For BPO And Tourism Projects Through JAMPRO
The Jamaican Government has programmed capital expenditure of approximately US$950 million on business process outsourcing (BPO) and tourism projects, through Jamaica Promotions Corporation (JAMPRO), for the 2018/19 fiscal year.
This was disclosed by Industry, Commerce, Agriculture and Fisheries Minister Audley Shaw, while delivering the opening 2018/19 Sectoral Debate presentation in the House of Representatives on Tuesday (May 1).
Mr. Shaw said US$850 million is earmarked for tourism, for which current investments will add another 2,100 hotel rooms and generate nearly 8,000 additional jobs.
He advised that US$100 million is programmed for the BPO sector, which will see the creation of 6,000 more jobs.
Mr. Shaw said preliminary figures indicate that JAMPRO achieved capital investment of US$604 million during 2017/18, resulting in the creation of 13,274 new jobs for the period.
Meanwhile, the Minister advised the House that JAMPRO’s office in New York is being reopened.
Mr. Shaw, who will formally reopen the office on May 14, indicated that he will also use the opportunity to meet with several key investors.
He further advised that the Jamaica Investment Forum will again be hosted in Montego Bay in June.
5 Year Manufacturing Strategy Being Crafted
Minister, Audley Shaw, says the ministry is working with the Jamaica Manufacturers and Exporters’ Association (JMEA) and the Jamaica Promotions Corporation (JAMPRO) on the development of a Five-Year Manufacturing Strategy.
The strategy will be tabled in Parliament as soon as it is approved by Cabinet.
He said that given the expected explosion in the production of agricultural raw material pursuant to the land utilisation policy, the tightening of inter-sectoral linkages, strides made in port development and logistics, and targeted investment promotions, “it is an entirely reasonable expectation that the manufacturing sector will be restored:.