MSMEs Being Positioned for Regional and International Success

• Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, is encouraging micro, small and medium-sized enterprises to get prepared as the Government positions the sector to be competitive globally.
• The push aligns with Jamaica’s broader economic agenda, which prioritises diversification, export promotion, and inclusive growth. “Jamaica’s MSMEs must become known regionally and internationally as more efficient manufacturers of goods and ever-improving crafters of ingenious services that people will buy,” Minister Hill said.
• “Jamaica is changing for the better and the business environment is changing rapidly. We are firmly on a path to international recognition as outstanding economic managers to add to the excellence we have achieved and are recognised for around the world. So we must keep our minds focused,” Senator Hill added.
• In a paper titled ‘Sustained Debt Reduction: The Jamaica Exception’, authors Serkan Arslanalp, Barry Eichengreen and Professor Peter Blair Henry, noted that the sharp, sustained reductions in public debt are outstanding “because public-debt-to-GDP ratios have been trending up in advanced countries, emerging markets, and developing countries alike”.
• He was contributing to the discussion at the Jamaica Business Development Corporation’s (JBDC) annual ‘Breakfast with the CEO’ event held recently at the AC Marriott Hotel in New Kingston. He highlighted that MSMEs are key drivers of economic growth and noted the Government’s commitment to enhancing the sector’s contribution to gross domestic Product (GDP) and sustainable development for the benefit of all citizens.
• MSMEs constitute a cornerstone of Jamaica’s economic landscape, fostering entrepreneurship, generating employment opportunities, and contributing to socio-economic development.

(Source: JIS)