Pursuing New Opportunities in the Services Sector Encouraging the emergence of new businesses in the rapidly growing services sector to take advantage of the lucrative opportunities in information technology, professional services, entertainment and culture. •
Strategic emphasis will be placed on facilitating growth of Jamaica’s services sector through the work of the Jamaica Coalition of Services Industries (JCSI), whose secretariat is housed at JAMPRO. The JCSI, a partnership between public and private sectors, will work towards developing an executable Services Growth and Expansion Plan for key service sectors. The plan is a part of the National Development Plan.
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The development of creative industries –Creative industries are of particular significance in the present global context, and the Jamaican brand has maintained a strong presence in diverse cultural markets. Jamaica is also known as a film destination and we have birthed numerous cultural icons in the music, drama, film, fashion and other creative sectors. This sector has facilitated significant economic contributions through creation of linkages, export of services, and in other areas with others that remain to be tapped.
The Development of Enterprise Zones Establishing enterprise zones strategically located in major urban and rural centres with appropriate incentives and shared services to facilitate new start-ups in the manufacturing, agricultural and service sectors. • The development of agro parks as clusters of economic synergy in St. Elizabeth and Clarendon as well as the development of the Caymanas Economic Zone are major developments for the future. •
Exploration of mechanisms for making economic zones viable for manufacturers will be key components of the growth strategy for these areas. Their development will be mindful of the need for associated sustainable development practices such as independent power generation from renewable energy sources.
Special attention to Micro, Small and Medium-Sized Enterprises (MSMEs) MSMEs require modest capital outlay yet offer high job-creating potential. These companies also have the size-flexibility to satisfy niche markets. Supporting the continued development and growth of this sector by implementing appropriate frameworks is therefore important, and can and will be accomplished in a relatively short period of time. •
Providing appropriate incentives and access to special, concessionary financing for MSMEs.
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Providing technical expertise to assist MSMEs in areas of production processes and management, quality control, packaging, marketing, cost analysis and financial management.
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Introducing a Micro, Small & Medium Enterprise (MSME) Policy: A policy document and suite of supporting initiatives are to be approved and enacted in the first quarter of 2012. Page 25 of 132
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