Caribbean News Now!

By Athaliah Reynolds-Baker

KINGSTON, Jamaica (JIS) -- The Jamaica Promotions Corporation (JAMPRO) has developed a Business Diaspora Strategy, aimed at tapping into the significant economic potential of the Jamaican Diaspora.

Minister of State for Industry, Investment and Commerce, Sharon Ffolkes-Abrahams, said the initiative comes out of the recognition of the importance of the Diaspora in nation building and as a key market for Jamaican exports.

She was speaking during her contribution to the 2012/13 Sectoral Debate on Wednesday in the House of Representatives.

Ffolkes-Abrahams informed that under the programme, events such as Jamaica House at the O2 Arena and the Meet Jamaica campaign in London, as well as the Jamaica 50 Independence celebrations, will be used to facilitate strategic engagements with nationals overseas.

She said that the government is already taking advantage of a number of significant partnership and development opportunities between Jamaica and the Diaspora.

These, she said, include the packaging of opportunities for small investors, including joint ventures with multiple interests.

“We have also been building on initiatives, such as the recently launched Caribbean Marketplace Business Competition, which encourages partnerships between members of the Caribbean Diaspora in the United States, United Kingdom and Canada, with entrepreneurs in the Caribbean,” she stated.

Through the Caribbean Marketplace Business Competition, qualifying businesses ideas can benefit from a grant of US$100,000. The competition ends July 31, 2012.

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