Jamaica prepares legislations to support BPO growth
The government of Jamaica is strengthening its capacity to attract higher value-added global services sector (GSS) investments by improving the supporting legislative framework.
According to the Minister of Industry, Investment and Commerce Senator the Hon. Aubyn Hill, is looking forward to having an “appropriate, business-friendly” legislation that manages local and foreign direct investments within “fiscal prudence and transparency.”
During the Outsource2Jamaica Glance 2022 forum, Senator Hill noted that creating the Jamaica International Financial Services Association (JIFSA) signaled the government’s commitment to enhancing GSS investment.
The JIFSA is part of a multi-agency working group, which includes the Bank of Jamaica (BOJ), Companies Office of Jamaica (COJ), and Financial Services Commission (FSC), in reviewing legislation and Bills.
Senator Hill advised that portfolio agency Jamaica Promotions Corporation (JAMPRO) — which is responsible for the local development of GSS — continue promoting the country as the “leading Caribbean destination” for business knowledge and information technology outsourcing.
Meanwhile, the Senator added that more than 800 apprentices had been trained under JAMPRO’s Global Services Sector Project.
Hill said that Jamaica is “creating a stable and fertile economic environment that will attract even more investors and provide a steady income for many more Jamaicans.”
