Jamaica’s Junior Stock Market Stands As A Blueprint For How Countries Across The Region Could Utilise The Stock Market In Raising Capital To Support The Blue Economy
Director of Economics at the Caribbean Development Bank, Dr. Justin Ram, says Jamaica’s Junior Stock Market stands as a blueprint for how countries across the region could utilise the stock market in raising capital to support the blue economy.
He said that a blended finance approach may be adopted in the initial stages of development, involving the private sector, government, and multilateral lending agencies. However, eventually they would want to transfer all of that financing to the private sector, and one way to do that is to develop the stock exchanges.
He added that he was pleased to hear about what has happened as it relates to the Junior Stock Market in Jamaica, which is actually quite good, because companies can get needed finance required to grow, something like this is what one has to consider for the blue economy.
The Junior Stock Market of the Jamaica Stock Exchange is designed to encourage and promote investment in the island’s entrepreneurship, employment and economic development. The Junior Market allows investors to put capital into legitimate small and medium-sized companies (SMEs) whose shares trade on a special Jamaica Stock Exchange (JSE) platform, an initiative that Dr. Ram has hailed.
The blue economy refers to the utilisation of the ocean resources for economic benefits, while ensuring the future health or productivity of those same resources. It includes tourism; shipping; commercial fishing; activities in the oil, gas, minerals and mining industries; among others.
Dr. Ram was speaking at the High Level Symposium for Transport Ministers of the Caribbean Region held recently at the Iberostar Hotel in Rose Hall, St. James.