MSME and Entrepreneurship Policy Tabled

The updated MSME & Entrepreneurship Policy was tabled in parliament on Tuesday (November 14, 2017) as a Green Paper.

The policy was first tabled in 2013, as a comprehensive document of initiatives for addressing the major issues confronting the growth and development of the MSME sector in Jamaica. The Ministry of Industry, Commerce, Agriculture and Fisheries began a limited review of the Policy in 2016 to make it more relevant and current to the changing economic landscape for MSMEs.

The review sought to amend the definition for MSMEs, bringing it into alignment with international definitions and national requirements. The review also sought to generate a 5-year Implementation Plan/ Roadmap and to incorporate critical and relevant emerging priority areas of growing priority areas of growing significance.

In a statement to Parliament on Tuesday afternoon, Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda said “the Revised 2017 Policy is consistent with the Government of Jamaica’s commitment and efforts to have the document updated on a regular basis to respond to changing socio-economic developments and dynamism within the MSME ecosystem.”

The Industry and Commerce Minister also said the policy is consistent with repeated requests from key stakeholders to have a current and relevant enabling environment to drive the growth and development of the sector.

The Ministry will present the Draft Final Policy to stakeholders, and the Final Policy is to be presented as a White Paper before the end of the current Fiscal Year.

Contact: Karlene Brown Tel: 968-8669