Prime Minister Andrew Holness has called for an increase in the number of risk takers who invest in Jamaica.

He made the call while delivering the keynote address at the groundbreaking ceremony for the construction of a $740-million, 75,000-square-foot business process outsourcing (BPO) centre on 31 acres of land in Montego Freeport, St James, by Bioprist Knowledge Parks (BKP).

This follows two such investments made by BKP, a subsidiary of Indies Pharma Jamaica over the past two years.

The projects which are being rolled out in three phases, has so far seen the acquisition of two plants previously owned and operated by Jockey International (Garment) Factories in Sandy Bay and Lucea in Hanover.

According to the Prime Minister, the project is well supported by government and other stakeholders such as the Jamaica Promotions Corporation (JAMPRO), and the Development Bank of Jamaica (DBJ).

“Taking risks is not just the purview of the entrepreneur, but the political directorate must also see the values and the opportunities that exist in the country and create the regulatory and legislative framework to turn those risks into profitable realities,” Holness said.

Managing Director of the DBJ, Milverton Reynolds, says the terms of the US$6.025 million loan to the venture is at 4.5 percent, repayable over 12 years and is expected to create some 1,200 employment opportunities.

And for his part, CEO of BKP, Dr Guna Muppuri, stated that Bioprist Knowledge Parks represents a new thrust to fuel the Jamaican economy, by creating sustainable economic initiatives.

“It is considered as a unique kind of ‘impact sourcing’ strategy which will provide infrastructure for the Business Process Outsourcing/ Information and communication technologies (BPO/ICT) Sector that will eventually create employment opportunities for the current and next generation (of) talent pool in the nation, especially in the socio-economically disadvantaged communities,” he stated.

Source: JIS News