Business View Caribbean | May 2016

42 May 2016 - Business View Caribbean Business View Caribbean - May 2016 43 ness. It also addresses global connectivity and the requirement for Jamaica to be better inserted into the global trading system.” Some economists predict that global growth is go- ing to be slow, in some places stagnant, for years to come. Do you agree or disagree with those prognos- tications? “There are some clouds on the horizon, but there are also silver linings. You have to take into account a range of factors. The United States economy, I believe, is growing. It will pull Europe along particularly as some of the trade deals are done. I think that will unleash a certain amount of economic activity. So, I think it’s a mixed environment. I think the price of energy will find equilibrium, because, obviously, it is what is needed to drive a sustainable energy sector. It will find some sort of level where producers and consumers have a much better kind of deal – probably more conducive to driv- ing global trade. And that will happen because of the rise of the U.S. energy sector. “So, I think there are some trends we have to watch. The economy of the United States is a strong pull fac- tor for the Jamaican economy given its geo-strategic location. We don’t think everything will be rosy, but then it’s very seldom that everything is so aligned in the global economy. In Jamaica, we have to continue to modernize and improve the economy and make it much more competitive, and I think that there’s room for significant growth.” Jamaica, historically, has been a net importer of goods and foodstuffs. Does your Ministry help sus- tain and nurture home-grown production of goods and products so that the balance of trade can be- come more equalized? “While it’s not the principal focus, the mix of activities has tended to have a direct contribution in that area, because of the policy thrust that we have now created as a logistics-centered economy. So yes, as the Minis- try of Investment, Industry and Commerce, the more industrialized we become, the more we will be able to feed ourselves and to export more to the rest of the world.” Does the Ministry have any oversight over sustain- ability and environmental initiatives? “Not directly, but we contribute in the focus we place on the kind of investment that we bring into the coun- try. In the matter of energy, we are keener to bring in clean energy than we are with, say, coal or some other high carbon energy source. So, we get to influence that by the focus and kind of promotional efforts we make through our investment agency, JAMPRO, which is our chief promotional agency that promotes Jamaican in- vestment opportunities, abroad, engaging the private sector and the business sector in various countries around the world.” In closing, what are the most important points you would like our readers to know about the Ministry of Industry, Investment, and Commerce? “It is a Ministry with a broad portfolio, focused on its drive to make Jamaica a more attractive place to do business. And we believe that the Ministry is creating a very dynamic environment for Jamaica as a hopeful and confident place. And we start with an advantage, because the Jamaica brand is a known brand. Among small economies and small countries, Jamaica is ex- ceptionally well-known.”