The Millennial Marketer (July & August 2022)

JULY/AUGUST 2022 ISSUE 113/ VOLUME 22

CONSUMER AND BUSINESS CONFIDENCE FELL

CREATIVES URGED TO CAPITALISE ON NEW TECHNOLOGIES TO DRIVE BUSINESS

BOJ TO REVIEW DRAFT CODE OF CONDUCT FOR MCIS COMPETITIVE MARKETS ARE CRITICAL

JAMAICA DEVELOPS GENDER AND CLIMATE CHANGE STRATEGY AND ACTION PLAN

STRATEGIES BEING PUT IN PLACE TO GROW MEDICINAL CANNABIS INDUSTRY

From the Editor As we celebrate 60 years of independence, we ruminate on how far we’ve come and speculate about what the next 60 years will bring. But we are too often caught up in worrying about what we haven’t done or where we haven’t gone rather than celebrating how far we’ve come in such a short period.

History offers up a poignant lesson for us. When Norman Manley lost the general election of April 1962 to Sir Alexander Bustamante, his speech to the PNP national conference the following September revealed some keen observations on nation-building: “Comrades, it is one thing to become free; it is another thing to build a real nation of your country.

But, comrades, we start our nationhood with some great assets. One of the good things is the long time that it has taken us to evolve our life into freedom as a people. We have learned much over the past half a century. We have learned most of all over the last twenty-four years in this country; and we have only got to remember the lessons we have learned to make sure that we can find the right way for the future.

We gave this country for seven and a half years a Government that knew how to use power with restraint and respect for human decencies in the land. We gave this country for seven and a half years a Government which believed in the realities of democracy, which allowed all men to walk the land free from fear and free from oppression.

We have one third great asset in this country, moving into nationhood, and this is the quality of the people of the land, a people tough and resilient, taught by adversity to endure hardship with patience, given some special spirit of loyalty to inspire them in their devotion to the causes they espoused, a people well understanding right from wrong, well understanding decency in government, well understanding justice and the rule of law. And those are great assets for a country to start with.”

So, as we continue to move forward, let us be reminded that achieving true nationhood is a long, arduous, continuous process that requires constant reflection, steady leadership and the daily contributions of a talented, resourceful people.

Let us take stock of the past 60 years and celebrate what we’ve accomplished, but place our most significant focus on where we can – and will – go in the future.

Happy 60th, Jamaica!

Warm Regards, Paul Bauer EDITOR, THE MILLENNIAL MARKETER

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CONSUMER AND BUSINESS CONFIDENCE FELL Consumer and business confidence fell in the June 2022 quarter due to inflation, the Russia-Ukraine war and other issues affecting the Jamaican economy.

Recent data show that consumer confidence fell by 1%, while business confidence declined by 7.6%, relative to the April 2022 quarter.

Pollster Don Anderson says some consumers and business operators are bracing for more challenging economic conditions.

BUSINESS CONFIDENCE Mr. Anderson says business operators expect further price increases, which could stifle economic growth.

Some 26% of businesses surveyed believe that economic conditions will worsen due to high prices, disruption in the supply chain due to the war in Ukraine and unstable foreign exchange.

For several reasons, 45% of consumers expect economic conditions to worsen over the next 12 months.

But Mr. Anderson says more businesses appear to have a greater resolve to survive and remain optimistic about the future, with 46% feeling confident that conditions will improve.

The reasons include: High prices The impact of the war in Ukraine Jamaica's high crime rate Lack of employment and pessimism about forthcoming improvements

While they expect to be further hit by high prices and an economic slowdown, the pollster says business operators are "determined to dig out of the situation in the short to medium term."

Mr. Anderson says 89% of consumers said prices increased significantly while 8% said prices rose moderately. Still, virtually all agreed that the increases significantly strain individuals within the economy and would continue to do so in the coming months.

Mr. Anderson presented the findings of the quarterly Jamaica Conference Board Survey of Business and Consumer Confidence at a webinar on Tuesday, July 26.

Mr. Anderson says if there is no change in the next few months, consumer confidence will further decline in the next quarter.

However, 27% of consumers expect the situation to improve because they are being optimistic.

BUSINESS

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FIND YOUR NEAREST VACCINATION CENTRE -&GET THE JAB!

COMPETITIVE MARKETS ARE CRITICAL The Fair Trading Commission (FTC) continues to facilitate and advocate for more competitive sectors, with the view that competitive markets are critical to efficiency, innovation, investment, and economic growth.

At a recent JIS Think Tank, Executive Director of the FTC, David Miller, pointed out that consumers benefit from the competition by obtaining more product choices, higher quality products, faster rates of product innovation, and more affordable prices.

The entity has undertaken two crucial market studies to examine Credit Bureau Services' regulatory framework and the fast-growing Digital market.

Competition Bureau Chief at the FTC, Dr. Kevin Harriott, remarked that the entity embarked on the Credit Bureau Services study because "it has been recognised globally that access to loan facilities is an important part of social mobility."

Loan markets, he said, allow consumers to afford goods and services they would not have been able to afford otherwise.

"To the extent that the FTC's mandate is to safeguard the welfare of consumers, we deem that this study on the loan markets is important, as improving access will lead to the improved social wellbeing of consumers," Dr. Harriott added.

Citing a 2021 report by the Bank of Jamaica, which revealed that $52 billion in personal loans had been extended to financial institutions, he said that an essential aspect of maintaining the viability of loan markets is the ability of lenders to assess the creditworthiness of consumers accurately.

"Throughout the years, lending institutions internally developed ways to assess creditworthiness until the passing of the Credit Bureau Act in 2021, which allows for a more accurate measurement of the credit worthiness of consumers," Dr. Harriott noted.

"A study of fast-growing digital companies is important because they have become increasingly relevant to Jamaican consumers. It is unlikely that any consumer could spend an entire day without interacting with the products and services offered by them," he said.

The other study that the FTC will be embarking on is on fast-growing digital companies, which are technology platforms that can, on demand, significantly increase the scale and scope of operations without any noticeable deterioration in user experience. Famous examples include Google, Amazon, Microsoft, and Facebook.

Dr. Harriott argued that "it is also true that these companies have disrupted the operations of goods and services provided through traditional business models. One of the important issues that will be examined through the study is the effect of hyper-digital scalers on the communications market."

Dr. Harriott pointed out that the FTC will examine regulatory imbalances between these companies and local advertising/media houses through the study.

A report summarising the main results of both studies will be disseminated to the public for further discussion.

BUSINESS

COVID-19 VACCINE COMPARISON

UP TO 90%

EFFICACY

AGAINST SEVERE illness, hospitalization & DEATH

2 DOSES

86%

95%

AGAINST SEVERE illness, hospitalization & DEATH

AGAINST SEVERE illness, hospitalization & DEATH

1 DOSE

2 DOSES

79%

AGAINST SEVERE illness, hospitalization & DEATH

2 DOSES

DOSAGE

UP TO 12 WEEKS APART + booster required

+ booster required

3 WEEKS APART + booster required

3–4 weeks apart

ELIGIBLE AGES

18 & OLDER

18 & OLDER

12 & OLDER

18 & OLDER

MOST COMMON SIDE-EFFECTS

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Fatigue, FEVER, Muscle pain, headache, nausea, tenderness of the injection site.

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JAMAICA DEVELOPS GENDER AND CLIMATE CHANGE STRATEGY AND ACTION PLAN Jamaica now has a Gender and Climate Change Strategy and Action Plan (GCCSAP).

The Plan's development was guided by a National Gender and Climate Change Assessment, which provided an overview of the policy and institutional contexts for gender-responsive climate action.

The assessment also facilitated an analysis of Jamaica's practical gender and climate change linkages and recommendations for action.

The Climate Change Division is leading the GCCSAP in the Ministry of Economic Growth and Job Creation and the Bureau of Gender Affairs in the Ministry of Culture, Gender, Entertainment and Sport.

One segment of the project, titled 'Build Institutional Capacity for Mainstreaming Gender in Climate Finance Programming, is financed by the Green Climate Fund (GCF).

It was developed with support from the International Institute for Sustainable Development.

Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Matthew Samuda said the Plan is designed to lay the groundwork for mainstreaming gender and climate considerations into projects and policies as a means of effective disaster risk reduction and strategic development planning.

"In the face of increasing climate change impacts, such as hurricanes, tropical storms, flooding, drought, and heat waves, the most vulnerable among us, particularly those in the lower socioeconomic strata, are being increasingly affected. The Government and its partners must take concrete steps on behalf of the vulnerable groups among us and incorporate gender into project planning cycles," the Minister said. enior Technical Officer delivered his remarks with responsibility for Mitigation in the Climate Change Division, Omar Alcock, during the official launch of the GCCSAP at the Spanish Court Hotel in New Kingston on July 22.

Senator Samuda noted that the Government had taken steps at varying levels to implement policies to address issues relating to vulnerable groups.

CLIMATE CHANGE

JAMAICA DEVELOPS GENDER AND CLIMATE CHANGE STRATEGY AND ACTION PLAN... (CONT'D) "We established the Climate Change Focal Point Network across Ministries, Departments and Agencies, which is charged with prioritising, executing, monitoring, and reporting on genderresponsive climate action. We have also established gender focal points, and work is ongoing to ensure that we continue working collaboratively with these groups," he said.

Senator Samuda informed that at the national level, Vision 2030 Jamaica, the Climate Change Policy Framework of Jamaica, and the National Policy for Gender Equality articulate the need for gender equitable and climate-conscious development.

He said the strategy and action plan would build on the solid foundation and evaluate gender responsiveness for successful, effective implementation of these and future policies, procedures and programmes.

"We know climate change is real, and the impacts are unfolding right before our eyes; we also know that it affects all of us. Critically, it affects different sectors of the society in different ways and to varying degrees; often it's the poor who are most adversely affected," he said while welcoming the strategy and action plan's development.

Principal Director, Bureau of Gender Affairs, Sharon Coburn-Robinson, noted that the new policy would rebound to the benefit of all parties concerned.

"Now that we have the strategy, we will be able to do what we had set out to do from inception when we spoke about how we can merge gender and climate change and have a successful nexus," she said.

Regional Manager for the GCF's Caribbean Country Division Programme, Orville Grey, said that since its engagement with the GCF, Jamaica has demonstrated its commitment to ensuring that no sector or group is left behind in adapting to or mitigating the effects of climate change.

"Jamaica continues to demonstrate a strong commitment at the national and regional levels. We are channelling some of its readiness and allocations in previous years to support various regional multi-cultural proposals targetting civil society organisations and the private sector.

We will also strengthen regional agencies with a strong component in addressing gender integration in climate change," he said.

CLIMATE CHANGE

VISIBLE POTENTIAL FOR CARICOM VISA Minister of Tourism, Hon. Edmund Bartlett says implementing a regional visa regime among CARICOM nations has substantial economic potential for tourism recovery and development in the region.

“A regional visa regime is something that we’ve been talking about. If we build Caribbean tourism, we must recognise that, as individual states, we are too small to grow and benefit from the recovery of tourism. However, as a region, we can grow and benefit,” Mr. Bartlett outlined.

He was addressing journalists on day one of the inaugural Organization of American States (OAS) high-level policy forum on building the resilience of Small and Medium Tourism Enterprises (SMTEs) in the Caribbean to Disasters at the Holiday Inn Resort in Montego Bay, St. James, on Wednesday, July 20.

Mr. Bartlett indicated that the region’s tourism industry could benefit from a visa regime in several ways, the key among which is establishing a multidestination tourism framework.

“A big advantage of this multidestination is that it offers multiple experiences for visitors from long-haul areas. So, let’s say you’re coming from China and have three weeks of vacation.

You don’t want to spend three weeks in Jamaica alone, but you can spend a week in Jamaica, three days there, two days here, another day somewhere else, and you come back wherever the hub was. One fee, one package, one price, and we all benefit from it together,” the Minister explained.

TRAVEL

He also stated that CARICOM nations would benefit from sharing common airspace where airlines flying into the Caribbean will pay one fee. He said the tourism visas could also facilitate preclearance arrangements for visitors coming into the region.

“It will allow them to clear customs in Jamaica and be domestic in Trinidad, Barbados and so on, and what that will do, in essence, it will bring more airlines into our space because the turnaround time for the aircraft will be significantly reduced as a result. More rotations could be had, and thus more visitors can come in,” Mr. Bartlett pointed out.

“The other element of importance is that it also provides a new skill set to be developed in the Caribbean area. What tourism will be doing is now saying we’re not just people who have bartenders, cooks and housekeepers, but we are into technology, aviation, logistics and procurement,” he added.

The policy forum was a two-day event held on July 20-21, with representatives from more than 50 countries across the Americas.

The forum featured plenary discussions on, Challenges for SMTEs in the Caribbean on their Post-Disaster Business Continuity; and Crisis Communication Strategy and Procedural Guide for SMTEs. Day two featured presentations on Business Continuity Planning, Business Impact Assessment and Recovery, and Considerations from Tourism Ministerial and Disaster Readiness Policy Directorates.

Millennial Media Management and The Millennial Marketer supports Jamaica's effort to vaccinate our population from the COVID-19 virus.

It is the responsibility of all Jamaicans to play our part in ensuring that our nation recovers better and stronger!

Here are the facts to combat the myths surrounding the COVID-19. vaccines. #GetVaccinated #GetBackToLife

'BUSINESS AS USUAL' AS JAMAICA MANAGES MONKEYPOX CHALLENGES In urging Jamaicans not to panic in light of the island recording its second case of Monkeypox, Health and Wellness Minister, Dr Christopher Tufton, says he does not envision the island returning to lockdowns to contain the virus locally.

Tufton is confident that health authorities can treat and track the virus due to its relatively mild nature.

"I am confident that given the nature of the virus, and the nature of the virus globally, to date, discovering the initial case doesn't make or create a crisis," he said at the ministry's emergency virtual press briefing on Wednesday, July 20.

Tufton said there was always the possibility that the country would record cases of Monkeypox, given that the country's borders were opened. Other countries continued to record cases of the virus.

"Having said that, we believe we can respond, particularly if Jamaicans play their part. And so, I do not envision the response to the novel coronavirus when it came on board on March 10, 2020," he asserted.

"I believe that we can manage this current threat, and if we play our part, we can handle it in a way where we can continue to live our ordinary existence, whether business, recreation or otherwise."

"I would say to Jamaicans, play your part. God knows the country cannot deal with another extremity. We have a lot of side effects to this point from the COVID-19 pandemic. So, we are not only going to pray and ask God for guidance, but we are going to work to ensure that kind of guidance is taken advantage of by ourselves, and the role that we play," declared Tufton.

To that end, the minister reiterated that Jamaicans have no reason to panic.

"This is not a reason to panic. It's not a reason to be uncertain or scared. We informed you as soon as we got confirmation so that you are aware, and I think we have a duty to make you aware," he said.

The country remains open for business, according to Tufton.

HEALTH

'BUSINESS AS USUAL' AS JAMAICA MANAGES MONKEYPOX CHALLENGES... [CONT'D] Meanwhile, Chief Medical Officer (CMO), Dr Jacquiline Bisasor-McKenzie, said the disease is milder than "what we are used to and what we are seeing so far across the world."

In stressing that persons should protect themselves by wearing a mask, physical distancing and covering any skin rashes, the CMO said public awareness and sensitisation would be increased.

Like Tufton, the CMO said there is no need for panic in light of the presence of Monkeypox locally.

"This is the reason for not panicking; we don't anticipate any risk. Our persons are on the ground as usual. We are very good at contact tracing, and we will uncover the cases and do our work to minimise the chance of spread to the population," she outlined.

"This is a mild disease, and it does require very close contact for transmission. Those are other reasons why people should not panic. If you become sick, this is something that you can see, and therefore, you are spurred to action immediately in isolating yourself," indicated Bisasor-McKenzie.

Tufton warned, "Panic leads to chaos... and we are not promoting disorder. We are promoting responsible behaviour in light of the new development," he said while urging persons with symptoms to present to a medical facility.

Tufton said the spread of Monkeypox might occur when a person comes into close contact with an infected animal or rodents.

Person-to-person spread is generally uncommon but can occur through contact with Monkeypox skin lesions or scabs, contact with clothing or sheets or towels used by an infected person, from cough or sneezing of an infected individual, as well as kissing and sexual intercourse.

The virus enters the body through broken skin, even if not visible, or the mucus membranes (eyes, nose or mouth).

"The incubation period, as we understand it, is between 5 - 21 days. Symptoms, usually mild to moderate, can include fever, intense headaches, swelling of the lymph nodes, back pains, swelling, rash," stated Tufton.

HEALTH

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BOJ TO REVIEW DRAFT CODE OF CONDUCT FOR MCIS The Consumer Affairs Commission (CAC) says a Code of Conduct has been drafted to govern how microcredit institutions (MCIs) should operate under the Microcredit Act.

“We want to ensure that persons know exactly what is involved in this code. So, when we have this type of consultation, hopefully, persons will buy-in, and they will sign off on it,” said Mrs. Allen,

The Microcredit Act, passed in 2021, took effect this month. The Act aims to formulate procedures for licensing and regulating MCIs that provide financing to individuals and operators in the micro, small and medium-sized enterprises (MSMEs) sector.

She further noted that the Code of Conduct intends to minimise disputes.

The CAC was named in the Microcredit Act as the agency responsible for investigating and handling all complaints made by consumers against MCIs. Speaking in a recent interview, Chief Executive Officer, CAC, Dolsie Allen, informed that the draft Code of Conduct had been submitted for review to the Bank of Jamaica (BOJ), which has the regulatory responsibility for the Act. “We are awaiting the feedback, and as soon as we receive it, we will reach out to the major stakeholders for their input,” said Mrs. Allen.

The code of conduct, when finalised, will include: The name, occupation and place of residence of the borrower The business of the parties The date on which the loan was made and disbursed The loan amount The terms of repayment and interest rate charges

FINANCE

“We want an agreement. We don’t want to be imposing something on the microcredit institutions. We want it to be cooperation where both parties sat and put something together that will be accepted by both sets,” said Mrs. Allen. Adding that the CAC has a responsibility to protect consumers.

Meanwhile, Dr. Blossom O’Meally Nelson, Co-Chairman, Joint Advocacy Committee, representing the microfinance sector, said the development of the Code of Conduct is welcomed by its members.

She said that regulation of the sector is intended to raise the profile of the MCIs, thus putting them “on another level.”

Mrs. O’Meally Nelson further indicated an interest in having regular meetings with the CAC to “pre-empt any developing trend” and look “in depth at any complaints our customers may have.”

CAC RESOLVES 124 CASES, SECURES $3.8 MILLION FOR AGGRIEVED CUSTOMERS The Consumer Affairs Commission, CAC, resolved 124 cases of complaints in April and May, securing approximately $3.8 million in compensation on behalf of aggrieved consumers.

The entity’s Chief Executive Officer, Dolsie Allen, disclosed the disclosure during a JIS Think Tank on Thursday, June 9.

She noted that the number of cases settled represents approximately 25% of the 499 complaints handled during the first two months of the 2022/23 financial year.

The agency also received 80 requests for advice.

Complaints brought before the Commission include matters relating to the purchase of electrical appliances, motor vehicles and furniture.

For the 2021/2022 financial year, the CAC handled 1,685 complaints, securing $27,466,365.88 on behalf of consumers and receiving 594 requests for advice.

Meanwhile, Mrs. Allen told JIS News that there had been an increase in the number of outreach activities by the entity.

“With the relaxation of the coronavirus (COVID-19) protocols, we were able to have more face-to-face interactions with the consuming public.

For the first two months, we could directly sensitise 12,974 persons. We try to encourage our consumers by educating them on some of the pitfalls and what they can do to ensure that their rights are not trampled on and that they exercise their responsibilities,” she said.

Mrs. Allen is encouraging people to utilise the services of the CAC as the entity “aims to have a population of very vigilant, well-informed, and assertive consumers, who not only know about their rights and responsibilities as consumers but also exercise them.”

The CAC is a government agency established to inform, educate, and empower consumers to protect themselves in the marketplace.

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ALLUREINTIMATEJA

MSMES ENCOURAGED TO FOCUS ON VALUE-BASED PRICING Micro, Small and Medium-sized Enterprises (MSMEs) are urged to consider valuebased pricing. This supports pricing your product(s) based on the value it creates for your customers.

The advice comes from the Managing Director of Sisters’ Ink, Opal Levy, who recently addressed the Jamaica Business Development Corporation’s (JBDC) Virtual Biz Zone.

“The pricing strategy employed by a business will depend on the business, the market and the industry in which you are operating,” Ms. Levy noted. She said it is essential for entrepreneurs to identify a target audience that they will seek to engage.

“As entrepreneurs, you must interact with customers to know exactly what they want and, importantly, what problems you are solving for them. You must also know how much they are willing to pay for the solution because that is the essence of pricing,” she pointed out.

She further advised entrepreneurs “to look at the products they are selling and note that the value does not have to be in the product itself, but in how the product is offered.”

Ms. Levy said that pricing is critical to business success and will determine the company’s market position, the sales and distribution channels it can use, its growth and adoption rate, the financial soundness and the service level expected by its customers.

The session concluded a two-part series on Business Strategy aimed at equipping MSMEs with critical tools to position their businesses for success.

The JBDC’s Virtual Biz Zone webinars are geared toward stimulating entrepreneurs within the MSME sector.

The webinars are held twice monthly on Tuesdays at 10:00 AM. via Zoom.

Interested persons are encouraged to join by registering at www.jbdc.net.

COMMERCE

FOOD SAFETY REMAINS A PRIORITY Through its departments and agencies, the Ministry of Industry, Investment and Commerce (MIIC) continues to ensure that food remains safe for consumers.

Addressing a recent JIS Think Tank, Chief Executive Officer of the National Compliance and Regulatory Authority (NCRA), Dr. Lorice Edwards-Brown, said the Ministry takes its responsibility and mandate seriously in ensuring food is wholesome for the consuming public.

Dr. Edwards-Brown noted that the Bureau of Standards Jamaica (BSJ) has a mandate to make standards for the food available to private-sector food manufacturers and consumers. At the same time, the NCRA focuses on the processing of food items.

She indicated that persons interested in manufacturing food would have to register the product with the NCRA, which will assist with getting the products to the level where the processing is safe and in compliance with the standards.

Meanwhile, the Consumer Affairs Commission (CAC), another agency under the MIIC, has a mandate to educate and represent consumers and resolve consumer complaints about food safety when they arise.

Director of Communications at the CAC, Latoya Halstead, pointed out that “the recent recall of a particular brand of peanut butter is evidence that the consumer is always placed at the centre of anything that the CAC does.”

“When there is a recall because of food-safety issues, educating consumers of their roles and responsibilities in the process is of great importance,” Ms. Halstead pointed out.

For her part, Chief Executive Officer at the CAC, Dolsie Allen, added that when “we find such products, the information is placed in the public domain for consumers to be aware and take the requisite steps to ensure that they protect themselves.”

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CREATIVES URGED TO CAPITALISE ON NEW TECHNOLOGIES TO DRIVE BUSINESS Highlighting NFTs, which have become an increasingly popular way to trade digital artwork, Founder of StarApple AI, Adrian Dunkley, said, “you can sell your art as an NFT but still preserve the rights to that piece of art.”

“You can also get revenue in perpetuity, so every time it is sold, you get a percentage. This technology also allows your art to live longer than you do,” he pointed out.

Forbes Advisor explains NFT as a digital asset representing real-world objects like art, music, in-game items and videos. They are bought and sold online frequently with cryptocurrency and encoded with the same underlying software as many cryptos.

NFTs provide a secure record, stamped with a unique identifying code stored on a blockchain. Owners are guaranteed a deed of ownership, which means their virtual goods cannot be copied.

Senior Manager of Bond, Equity, and Digital Asset Trading at Victoria Mutual Wealth Management, Denise Marshall-Miller, said that NFTs could be considered an alternative investment option to stocks and bonds.

“It can expand your revenue because of the royalties built into it. This can cause generational wealth to continue, as it provides you with an income. You want to ensure that the NFT you are putting out has some utility and value that is also original,” she pointed out.

President of the iCreate Institute, Dominic Summers, for his part, welcomed the value of the discussions in highlighting how new digital technology is creating opportunities and equitable access for all.

“It is also changing the way we interact with markets. With these technologies, we can quickly, readily, and easily distribute across the world,” he pointed out.

TECHONOLOGY

6,000 MORE BPO JOBS SINCE COVID-19 Prime Minister, the Most Hon. Andrew Holness says the Business Process Outsourcing (BPO) industry is on a continuous growth path, with the number of persons employed increasing from approximately 48,000 before the coronavirus (COVID-19) pandemic to over 54,000 to date.

He further said there are prospects of engaging up to 300,000 persons over the long term.

Prime Minister Holness noted that the job opportunities go beyond Call Centre operations to incorporate knowledge services, which require advanced analytical and technical skills.

He said Jamaica is “well placed” to deliver the various services, which include back-office operations such as reviewing legal and medical documents, booking flights, high-value programming and coding, and data operations.

“Jamaica is entering all the levels of the BPO industry,” the Prime Minister pointed out.

Mr. Holness spoke at the recent groundbreaking ceremony for the $1.2B K & T Development BPO Complex in Mandeville, Manchester.

The project, undertaken by local businessman Kenneth Black, is expected to generate jobs for young people in the parish.

Prime Minister Holness commended the investors for embarking on the undertaking, noting that it will add value to the economy and create opportunities for persons to “transform their lives.”

The facility will feature four floors that occupy 80,000 square feet of space, with 20,000 square feet reserved for parking.

Jamaica has the most significant BPO market in the region, covering Telecommunications, Banking, Insurance, Healthcare, Finance and Accounting, Gaming, and Tech Support.

The country has had a strong track record in attracting investments in the sector through consistently demonstrating the capacity to provide high-quality service in areas such as customer care, human resource outsourcing (HRO), receivables management, technical helpdesk support, outbound sales, and lead generation.

CAREER

STRATEGIES BEING PUT IN PLACE TO GROW MEDICINAL CANNABIS INDUSTRY The Ministry of Industry, Investment and Commerce is collaborating with other government entities on several strategies to develop the local medicinal cannabis industry.

State Minister in the Ministry, Dr. the Hon. Norman Dunn said the measures include fast-tracking new product approvals, especially for cannabis manufacturers who want to diversify to access new market opportunities.

Other initiatives, he said, include developing regulations on dosing standards for tablets in the medicinal cannabis trade and closely monitoring legislative changes in the United States federal system.

“In addition, the Ministry, along with Jamaica Promotions Corporation (JAMPRO) and the Cannabis Licensing Authority (CLA), is fast-tracking finalisation of the import/export regulations, hemp regulations and amendments to the current interim regulations,” Dr. Dunn said.

“We are also finalising regulations for the Cultivator’s (Transitional) Special Permit and, through the Cannabis Development Task Force, will be working to promulgate a comprehensive national policy to develop a blueprint for the direction of this industry,” he added.

The State Minister spoke at the launch of Epican’s 16 rare cannabis strains at Market Place on Constant Spring Road on June 15.

Dr. Dunn also informed that the Ministry is considering proposals from the Cannabis Development Task Force for a national lab and providing state-of-the-art equipment for optimal testing capabilities to be established for the industry.

BUSINESS

STRATEGIES BEING PUT IN PLACE TO GROW MEDICINAL CANNABIS INDUSTRY... (CONT'D) The Task Force also proposed engaging with local financial institutions to allow for the financing and banking of cannabis companies.

Meanwhile, the State Minister said the CLA is focused on maximising export market potential, value-added products, inclusion, enhanced customer experience and integration with other industries.

He informed that the agency is moving apace with regulating the cannabis industry and, in this regard, has reached a milestone of 100 licences issued for cultivation, processing, transport, research and development, and retail of ganja for medical purposes.

“Notably, the most popular category was for small farms under one acre,” Dr. Dunn said.

Additionally, he noted that 45 export authorisations had been issued in the last three months, bringing the total since inception to 185. Receiving countries for these exports are North America, Europe, Africa and the Middle East.

“I encourage industry players to scale up their operations so that we can expand the number of receiving countries and the amounts that we export. As we look towards the development of the cannabis industry, I encourage all stakeholders to pay attention to the standards that will make your products stand out locally and internationally,” Dr. Dunn urged.

The CLA was set up in 2015 to establish and regulate Jamaica’s legal ganja and hemp industry.

BUSINESS

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JPS TRAINING PERSONS IN ELECTRIC VEHICLE SERVICES The House of Representatives, on Tuesday, July 19, commenced debate on the Electricity (Net Billing) Regulations, 2022, which are intended to provide opportunities for fuel diversification, development, and deployment of renewable energy sources.

The aim is to have a modern, efficient, and environmentally sustainable Energy Sector that is affordable and accessible.

In his remarks, Minister of Science Energy and Technology, Hon. Daryl Vaz said the Electricity Act of 2015 establishes the legal framework for net billing, electric wheeling, and other arrangements.

He stated that these regulations focus on the net billing programmes and provide the regulatory framework under which, among other things, the Minister with responsibility for energy has the power to issue licences.

“The net billing is a mechanism for persons who generate their electricity to sell their excess power to the single buyer, Jamaica Public Service Company Limited (JPS), under a standard offer contract, approved by the Office of Utilities Regulation. The Minister responsible for energy has responsibility for the functions of the net billing services,” Mr. Vaz stated.

Regarding the provisions, Regulation 3 establishes the criteria under which persons (residential and commercial) are eligible to apply for and to be issued with net billing licences.

“Net billing shall be open to all applicable and qualified customers of the JPS. This is limited only when the generating capacity for licensed renewable energy sources connected to the grid is reached. This limit on the number of licenses to be issued at any given time is prescribed by the Integrated Resource Plan,” Mr. Vaz said.

He further noted that a net billing licence might be issued where JPS must purchase the energy at the net billing energy rate published by the Office of Utilities Regulation (OUR). This was also subject to a contract executed by a licensed self-generator and JPS.

ENERGY

JPS TRAINING PERSONS IN ELECTRIC VEHICLE SERVICES... [CONT'D] Regulation 5 specifies the application process to obtain a licence for a net billing arrangement. A person may be licensed for net billing by submitting to the Minister a completed application along with the requisite documents specified in Part A of the Schedule and with proof of payment under Part B of the Schedule.

Mr. Vaz explained that upon receipt of the application, the Minister should review the application and advise the applicant, where the application is incomplete, to submit additional information and documents.

He further stated that the applicant would have 60 days to submit any additional information and documents requested. If not, the application process may be terminated.

Regulation 6 provides that where a licence is granted, JPS has 30 days to issue a standard offer contract (“net billing contract”) approved by the OUR. Regulation 8 addresses the duration of the licence.

Mr. Vaz explained that the licence issued by the Minister should be valid for ten (10) years, and the duration of the net billing contract must not exceed the period stipulated in the net billing licence.

In addition, Regulation 10 prohibits JPS from requesting security deposits and insurance coverage from the self-generator for a net billing arrangement.

“If JPS commits the offence mentioned above, they are liable to a fine not exceeding JA$2M,” Mr. Vaz stated.

Meanwhile, the Minister noted that Jamaica continues to consider the problems of global warming, health effects and sustainability of fossil fuel dependency. The passing of these regulations is critical to the Government’s attempt to optimise our use of sustainable and renewable energy sources; and to establish clean, affordable and reliable energy sources.

ENERGY

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