Industry Minister Calls on MSMEs to Embrace Digital Transformation

  • Micro, small, and medium-sized enterprises (MSMEs) are being urged to embrace digital transformation to remain competitive in the global economy.
  • Delivering the keynote address at the recently held Digital Jamaica Summit and Showcase, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, underscored the critical role of digital transformation in Jamaica’s future economic success.
  • “In the rapidly evolving global environment, embracing digitisation, digitalisation, and digital transformation is necessary, as technological advancement holds the key to unlocking new levels of efficiency, productivity, and innovation”, Minister Hill said. He also noted that productivity is achieved when technology is utilised to streamline processes and eliminate inefficiencies, leading to greater output.
  • Senator Hill emphasised that Jamaica must not limit its ambitions to local markets alone but should aim to increase per-capita income by seeking new markets globally.
  • To help MSMEs access new markets, Jamaica is teaming up with the European Union (EU) through the Jamaica Business Development Corporation (JBDC) to expand equitable access to information and communications technology (ICT) nationwide as the country shifts towards a digital society. This effort is supported by a €9.5Mn initiative called ‘Digital Jamaica,’ funded by the EU. Minister Hill praised the GOJ/EU collaboration as a crucial and timely investment in Jamaica’s digital transformation.
  • Emphasising the importance of the European Union’s investment in Jamaica’s MSME sector, he urged stakeholders to utilise this support effectively to ensure Jamaican goods and services meet international standards. One key area of focus is the proper packaging of export goods. Additionally, MSMEs were encouraged to integrate digital tools from the start, especially for managing human resources (HR) and accounting functions.
  • The program is anticipated to greatly benefit crucial sectors such as ICT, education, and MSMEs. Senator Hill highlighted that 32.4% of Jamaican MSMEs are currently utilising digital technology, whereas 16.4% are still unaware of how digitalisation can enhance their operations.

(Source: JIS)