Jampro gets $64 million for Export Max III
President of Jampro, Diane Edwards during the Export Max III MOU signing at the Jamaica Pegasus on Tuesday.
Jamaica Promotions Corporation (JAMPRO) has received $64 million in funding for its third staging of the Export Max programme.
Jampro has increased export sales by 213 per cent for participants of its second staging and now hopes to triple growth for the 48 micro, small and medium-sized entities selected to participate in Export Max III.
Shavout International Holdings, Baughaus Design Studio, Eden Gardens and Wellness Spa, Blue Bayan Books Limited, Medicanja Limited, Krystal Clear Productions, Las Bee Producers Scotch Boyz and Bresheh Enterprise have been named as participants.
Export Max III will run for three years.
“We are very excited to have companies from the creative industry on board this year and we also have a medical marijuana company,” President of Jampro, Diane Edwards said during the Export Max III MOU signing at the Jamaica Pegasus Hotel on Tuesday.
The companies span the food processed, non-food manufacturing, services and creative industries.
With a wider cross-sector of participants, Edwards hopes to deepen Jamaica’s foothold in the international market space.
Jampro’s Export Max I programme begun with 15 in 2011 and today spans the Caribbean, United States, Canada and United Kingdom.
From left to right: D’Jamila Ward, Export and Domestic Policy Research and Information Manager at JMEA; Imega Breese McNab - Executive Director at JMEA; Randy McLaren of Bresheh Enterprise and Lascelles Smith of Las Bee Producers at the Export Max III MOU signing at the Jamaica Pegasus on Tuesday.
Launched in November 2018 in partnership with the Jamaica Manufacturers and Exporters’ Association (JMEA) and the Jamaica Business Development Corporation (JBDC), Export Max III is aimed at positioning MSMEs to take advantage of market opportunities, and ultimately to boost Jamaica’s export numbers.
With the numbers continuing to trend upwards, Jampro has set a target of 200 participants to assist with capacity building interventions, export market development and penetration, promotional activities, monitoring and evaluation.
Funding for the third staging will come from the Foundation for Competitiveness and Growth, Bureau of Standards Jamaica and Scotiabank.
Of the $64 million, $6 million will be provided in kind from the BSJ for participants utilising calibration, chemical testing, microbiology, metrology services, packaging and labelling services.
Ultimately, the Export Max programme is aimed at significantly impacting Jamaica’s national export performance.
Data from the Statistical Institute of Jamaica show that in 2018, Jamaica imported approximately US$6.1 billion in good, of which food imports accounted for $900 million. Exports totalled US$1.8 billion.
“Jamaican SMEs contributes less than 10 per cent of our exports and oftentimes, one hears Jamaica’s exporters being disparagingly referred to as sample exporters: meaning we send samples the markets love it and when commercial quantities are ordered, we cannot deliver. But this is far from the full story,” President of Jamaica Manufacturing and Exporters Association, Richard Pandohie said.
“Breaking into a new market is not an easy feat. It is one that requires significant guidance, resources, and planning,” he continued.