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Jamaica Invites Investment by Indian Pharmaceutical Companies

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#Jamaica, June 14, 2022 – Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, is inviting investment by Indian companies, particularly those involved in pharmaceuticals, in the Caymanas Special Economic Zone (CSEZ) in St. Catherine.

Speaking with JIS News, the Minister said the approximately 1,000-acre campus, which will be developed under the Jamaica Special Economic Zone Authority (JSEZA regime, is an opportunity to further strengthen the commercial collaboration between Jamaica and India.

“I am inviting Indian pharmaceutical companies [and] Indian investors to come to Jamaica and invest in our logistics centre at Caymanas and to make sure that collaboration between Jamaica and India will strengthen commercially,” he said.

The Minister noted that due to the coronavirus (COVID-19) pandemic and the Russia-Ukraine war, “long supply chains from… Russia to Egypt are now problematic”.

He pointed out that “Jamaica is ideally situated next to the largest economy in the world (United States of America) and Canada is right there and then we have Latin America and the Caribbean”.

He noted that with the changing times, “we have to look for new trading partners”.

“India is an excellent [trading partner] with a legal system that we know and with a collaboration that we’ve had for a long time,” he added.

Minister Hill was part of the Jamaican delegation at the Office of the Prime Minister for Monday’s (May 16) courtesy call on Prime Minister, the Most Hon. Andrew Holness, by President of the Republic of India, His Excellency Hon. Ram Nath Kovind.

The courtesy call formed part of a four-day State visit to the island by the Indian President that began on Sunday (May 15).

The meeting included the signing of a Memorandum of Understanding (MOU), which will provide for training through Jamaica’s Foreign Service Institute.

Other members of the Jamaican delegation for the courtesy call and the signing ceremony included Minister of Foreign Affairs and Foreign Trade, Senator the Hon. Kamina Johnson Smith; Minister of Legal and Constitutional Affairs, Hon. Marlene Malahoo Forte; Minister of Local Government and Rural Development, Hon. Desmond McKenzie; Minister without Portfolio, Ministry of Economic Growth and Job Creation, Senator the Hon. Matthew Samuda; Minister without Portfolio, Office of the Prime Minister, Hon. Floyd Green; High Commissioner for Jamaica to the Republic of India, Jason Hall.

President Kovind’s visit to Jamaica is a first for an Indian President over the 60 years of relations between the two countries.  He is scheduled to depart the island on Wednesday, May 18.

 

Contact: Mickella Anderson

Release: JIS

 

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Caribbean News

Vessels sink with 900 barrels of fuel in Trinidad

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By Shanieka Smith

Staff Writer

 

#Trinidad, December 2, 2022 – The Ministry of Energy and Energy Resources in Trinidad reported on Wednesday that a ship carrying 900 barrels of diesel fuel had sunk in the Gulf of Paria. The six crew members on board were rescued and received medical assessment.

The statement revealed that the barge owned by Trinity Liftboat Services Limited was trying to demobilise Trinity Heritage Petroleum Company’s North Field when it capsized.

After receiving an SOS from a vessel in their North Field, Heritage sent out a response team. An investigation into the incident has started, however, the main focus is to redeem the barge without making any oil spills.

The owners of the sunken vessel said “there are no injuries recorded. (The vessel) now sits on the seafloor no longer posing a risk to any of Heritage Petroleum’s platforms or installations.” They said the captain made a good decision to abandon the ship so that the crew members could be rescued and transported back to base.

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Bahamas News

Digital coin created for Caribbean’s Dominica as island partners with Huobi

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By Shanieka Smith

Staff Writer

 

December 2, 2022 – The Commonwealth of Dominica has partnered with cryptocurrency exchange Huobi, to issue its own national cryptocurrencies, Dominica Coin (DMC), and Digital Identity Documents (DID), already reports indicate a surge for the Huobi token.

This new collaboration with Dominica will bring the Caribbean one step closer to being a global cryptocurrency exchange centre.  Huobi also announced its intention to move headquarters from Seychelles to the Caribbean.

It was explained, “The deal is noteworthy partly because of its connections to crypto billionaire Justin Sun, founder of the Tron blockchain where the Caribbean island’s new token will initially reside.”

Dominica Coin (DMC) and digital identity documents (DID) will be issued by Huobi Prime via the TRON network (a project dedicated to building the infrastructure for a truly decentralized Internet); both will serve as credentials for the future metaverse platform based in Dominica. DIDs can be used for cryptocurrency Know Your Customer verification, applying for loans, and opening bank accounts on the island.

The DMC is not yet ready for launch, but The HT token is up 15% over the last 24 hours to $7.12. It’s up 40% over the past seven days.

As one of the first Caribbean islands to adopt the citizenship-by-investment policy, the Dominican government is seeking to delve into the metaverse and Web3 technology as a means to boost the country’s development.

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Bahamas News

Imminent Worldwide Measles Threat; 25 Million CHILDREN miss First Dose

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By Dana Malcolm

Staff Writer

 

December 2, 2022 – Forty million children are at risk of Measles as what the World Health Organization is describing as an “imminent threat” takes shape. A joint report between the WHO and the U.S. Centres for Disease Control revealed that a record number of children missed their measles dose with 25 million children missing their first dose and 14.7 million children missing their second dose in 2021 alone.

Nine million cases of measles were recorded last year, twenty-two countries experienced large and disruptive outbreaks and 128,000 deaths occurred, the report says.

“The paradox of the pandemic is that while vaccines against COVID-19 were developed in record time and deployed in the largest vaccination campaign in history, routine immunization programmes were badly disrupted, and millions of kids missed out on life-saving vaccinations against deadly diseases like measles,” said Dr. Tedros Ghebreyesus, WHO Director-General.

Measles is easily one of the most contagious viruses in the world and while many people think itchy spots when they think of the disease it can cause pneumonia, seizures and brain damage in about 30 percent of infected individuals.

Herd immunity will not work with this disease, say experts, unless 95 per cent of people or more are vaccinated; only 71 per cent of children in 2022 are fully vaccinated.

“Measles anywhere is a threat everywhere” the report said, emphasizing that no WHO region has achieved and sustained measles elimination.

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