#MontegoBay, Jamaica, March 26, 2024 – Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, has emphasised the need for Jamaica to ramp up its productivity and supply of goods and services to meet both international and local demand.

Speaking at the opening of the Montego Bay Chamber of Commerce and Industry’s Expo 2024, held at the Montego Bay Convention Centre in Rose Hall, St. James, on March 22, Mr. Hill argued that the country does not have “a market problem but a supply problem”, and as such is urging Jamaican businesses and entrepreneurs to focus on the supply side.

He highlighted the potential for Jamaica to become a major export hub in the Caribbean, sharing insights from his visits to Fort Lauderdale, Atlanta, and Miami, in the United States, where there was a high demand for Jamaican goods, including ackee, mango, avocado and breadfruit.

“Their big cry was we want more of Jamaican goods. Goya, a big brand in the United States, wanted twenty 40-foot containers of ackee. Sadly, they could only get one. That doesn’t hold the market for you,” Senator Hill explained.

“They want mangoes such as East Indian and they want containers of it. They want avocado and breadfruit. So, with that kind of market available, what are you waiting for?” he added.

The Minister acknowledged challenges, such as praedial larceny, but encouraged farmers to treat agriculture as a business, utilising security as well as agronomists and proper resources to improve production.

He also pointed out that businesses can borrow from Jamaican banks to invest in and grow their enterprises.

Mr. Hill noted the increase from US$5,000 to US$7,000 in per capita income over the past few years and stressed the need to further increase it to between US$9,000 and US$15,000 to enhance prosperity for Jamaicans.

He argued that for this to happen, businesses need to aim for high productivity as well as place greater importance on upskilling employees and investing in their training.

“Businesses don’t train enough in Jamaica. Some do, of course, but we want everyone to do it.  If you’re a small business and you’re only cooking lunch and you hire one person, make sure you train them properly so that they can do the thing well,” Mr. Hill said.

Additionally, Mr. Hill said that an increase in Jamaica’s productivity will surely attract more foreign investments, as it signals stability and profitability to investors.

In the meantime, Minister Hill is calling for the establishment of processing plants and cold-storage facilities to add value to agricultural products. He envisions Jamaica as a logistics centre, exporting more products to drive economic growth.

He also reiterated the Government’s commitment to supporting businesses through the Ministry of Industry, Investment and Commerce, which offers 20 agencies to assist entrepreneurs in various aspects of business development.

The three-day Expo was held under the theme ‘Future Forward: Shaping Tomorrow’s Business Today’.

This year’s biennial trade show provided a platform for over 125 businesses to showcase their products and services, fostering networking and collaboration among industry players.

Contact: Okoye Henry

Release: JIS

Photo Caption: Minister-of-Industry-Investment-and-Commerce-Senator-Aubyn-Hill