The Micro Stock Exchange will allow micro, small and medium-size enterprises (MSMEs) to obtain funds to support their growth and expansion.
Speaking at the launch of Expo Jamaica 2018 at the National Indoor Sports Centre, Mr. Shaw explained that the Micro Stock Exchange will target companies for capitalisation between $5 million and $50 million.
“We are operating in a time of derisking. The time for informality in our economy is passed; we have to encourage all of our business people (to) get formal. The Micro Stock Exchange will offer yet another opportunity to become formal,” he said.
The Minister said the Jamaica Stock Exchange has been given instructions “to do the necessary work” to advance the establishment.
He noted that the proposed Micro Stock Exchange follows on the continued success of the Junior Stock Exchange, which was established by Mr. Shaw in 2009, when he was the Minister of Finance.
“The basis of the Junior Stock Exchange was to lighten the requirements for access and the Junior Stock Exchange by any standard of measure has been successful,” he said.
Expo Jamaica is being held at the National Arena and the National Indoor Sports Centre from April 19 to 22.
Under the theme: ‘Advancing Breakthroughs’, the expo is being hosted by the newly formed Jamaica Manufacturers and Exporters Association, in collaboration with JAMPRO.
The Jamaica Manufacturers and Exporters Association is a merger of Jamaica Manufacturers’ Association (JMA) and the Jamaica Exporters’ Association (JEA).
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