Friday 25 September, 2020

Jampro developing measures to help bolster the economy

Jampro chairman Don Wehby.

Jampro chairman Don Wehby.

“Expect a changed world post COVID-19,” says Jampro chairman Senator Don Wehby.

“These are unprecedented times. The coronavirus disease 2019 (COVID-19) has wreaked havoc globally with the way we live and our way of doing business,” Wehby said in a statement on Friday.

There will be a trend towards buying local; more health-conscious consumption, increasing demand for natural remedies, rising e-commerce and expanding digital and online solutions, according to Wehby.

With the COVID-19 currently threatening the local economy, Jampro is, therefore, developing a set of new measures to bolster growth in the economy. 

“Jampro is exploring innovative ways to support the people of Jamaica through this crisis and to provide a springboard for our business environment after the worst has passed,” Wehby said.

Wehby shared what he described as a “snapshot of what the agency will be doing during the crisis, amongst other activities in alignment with our mandate to facilitate investment and export, while advocating to improve the business environment of Jamaica.”

“We are ready to support our clients on their investment projects or export opportunities – and we are looking at ways to identify and secure new opportunities for them,” he said.

Jampro’s renewed focus will be:

  • Increasing support of the agribusiness sector to attract and facilitate new technology-driven investment, as well as, facilitate linkages between farmers, manufacturers, and service providers. 
  • Driving the conversion to a digital economy, by upskilling our young people during this e-learning stay at home opportunity and accelerating the development of a National Digital Services Strategy
  • Improving service and relevance to local businesses, who must become the drivers of Jamaica’s economic recovery, particularly with global FDI expected to fall by five to 15 per cent.
  • Increasing government coordination with organisations like the Planning Institute of Jamaica (PIOJ) and Sugar Company Holdings to pool our resources in developing coherent strategies to sustain and drive the economy during and after the crisis period, respectively.
  • Stepping up advocacy to government on behalf of the productive sector and enhancing Jampro’s programme of improvements to the business environment.
  • Partnering with bodies like the Jamaica Manufacturers and Exporters Association (JMEA) and the Scientific Research Council to develop new products for the post-COVID world.
  • Facilitating the sustaining of business operations by unearthing commercial opportunities and connecting business players across key sectors to drive these opportunities. 
  • Exploring the challenges regionally to determine how Jamaica can support commercial activities through collaboration with our Caribbean neighbours as we all grapple with the potential impact of the virus on sectors like tourism.

 

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