KINGSTON, June 1, 2021 - Jamaica National Agency for Accreditation (JANAAC) will be hosting a virtual forum on Wednesday (June 2) which will explore ‘Jamaica’s Cannabis Industry and the Supporting Role of Accreditation’. The event is in observance of World Accreditation Day on June 9.
KINGSTON, Jamaica, January 26, 2022 - JIS - Prime Minister Andrew Holness, says Jamaica is recovering steadily from the economic fallout sparked by the coronavirus (COVID-19) pandemic, based on the out-turns of several key indicators.
JAMAICA, December 15, 2021 - For December 2021, Bank of Jamaica projects that the value of currency issued by the Bank will increase by approximately $23.1 billion (11.3 per cent), relative to the stock at end-November 2021 ($204.4 billion) (see Figure 1). The forecast for the month is below the five-year average growth rate of 16.4 per cent for the month of December.
KINGSTON, Jamaica, November 25, 2021 - The long-awaited highway to bypass the congested urban centre of Montego Bay in St. James will soon be a reality. with yesterday's signing of a contract for the Montego Bay Perimeter Road Project.
A US$274.5-million contract was signed on Wednesday for the Montego Bay Perimeter Road Project, which will see construction of a 14.9-kilometere bypass of the city. This is expected to create a safe and reliable alternative route for motorists travelling that direction.
It will also assist in reducing traffic congestion within the city.
Scope of work includes the construction of the Montego Bay bypass road, rehabilitation of Barnett Street and West Green Avenue, as well as the construction of the Long Hill bypass (10.5 kilometres).
A drainage study of the Montego Bay bypass area is also to be conducted under the project.
The Ministry of Economic Growth and Job Creation entered into the contractual agreement with the China Harbour Engineering Company Limited (CHEC) for the entity to carry out the works.
It is expected that the project will open new areas to the south of Montego Bay for development and expansion, giving access to lands for housing development.
In his address at the ceremony held at Jamaica House and streamed online, Prime Minister, the Most Hon. Andrew Holness said as part of the contractual agreement, Jamaicans will be recruited for the jobs that are to be generated under the project.
Prime Minister Holness said that requirements of the contract stipulate that a minimum 90 per cent of Jamaican workers for unskilled construction work be utilised. This is subject to the availability of those workers.
In addition, a minimum 50 per cent of skilled Jamaican workers are to be recruited for technical works.
The Prime Minister said other provisions under the contract are that the contractor, in partnership with the Human Employment and Resource Training /National Service Training Agency (HEART/NSTA) Trust, is required to develop and implement a training programme for the transfer of knowledge and technology to Jamaican workers as on-the-job-trainees under the Knowledge and Technology Transfer Programme.
“We have taken great care to ensure that the contract represents a win-win for the contractor and for Jamaica,” he said.
With a view to the future, Prime Minister Holness said a “macro approach” in national infrastructure development and incorporation of climate-smart technology, is critical.
He said the Montego Bay Perimeter Road Project, which will incorporate climate-smart technology, signals the Government’s thrust in this regard.
“This project will help with our resilience. The way the road is constructed and designed it is unlikely to be impacted by flooding… . We are building the complete infrastructure, so that whatever weather events that would occur as a result of climate change, we have adapted our infrastructure to account for that. So, where there are these unexpected weather events, we should be able to continue to move traffic in Montego Bay… . All our infrastructure is being built with that in mind,” he noted.
General Manager, CHEC America’s Division, Yun Peng Lu said the project represents the continued mutual cooperation between the countries.
“Our goal is to work in Jamaica to become a truly local company, to grow and develop together the Jamaican society and to help build a better Jamaica, and to improve the skills [of Jamaican workers],” he said.
The Project is being financed through the Government of Jamaica’s Consolidated Fund and implemented by the National Road Operating and Constructing Company (NROCC).
Lead Photo Caption: Prime Minister Andrew Holness (second left) signs contrac t for the Montego Bay Perimeter Road Project on November 24 in a ceremony held at Jamaica House. Other signatories pictured from left (seated) are Permanent Secretary in the Ministry of Economic Growth and Job Creation, Audrey Sewell; General Manager, China Harbour Engineering Company Limited (CHEC), America’s Division, Yun Peng Lu; and Country Manager, CHEC Jamaica, Dangran Bi. Observing the proceedings are (standing, from left) Caretaker, St. James Central, Heroy Clarke; National Security Minister, Hon. Dr. Horace Chang; Minister Without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Everald Warmington; Managing Director, National Road Operating and Constructing Company Limited (NROCC), Stephen Edwards; Ambassador of the People’s Republic of China to Jamaica, His Excellency Tian Qi; Chairman NROCC, André Nelson; and Economic and Commercial Counsellor, Chinese Embassy, Fan Jianghong.
KINGSTON, Jamaica, November 22, 2021 - The Bank of Jamaica (BOJ) is reporting that the country’s gross international reserves, as at November 17, totalled approximately US$4.7 billion. Governor, Richard Byles, said the figure represents the equivalent of 143.8 per cent of the level considered adequate.
Washington, DC – November 17, 2021 - The International Monetary Fund says the Jamaican economy is recovering, but the risks to the outlook are significant, pointing out that as the crisis recedes and the recovery advances Jamaica should restart debt reduction and rebuild buffers, given high susceptibility to external shocks and risks to debt sustainability.
KINGSTON, Jamaica, October 5, 2021 | The Shadow Minister of Industry, Investment & Global Logistics, Anthony Hylton, MP, is supporting the call by the Jamaica Manufacturers and Exporters Association (JMEA) for the Bank of Jamaica (BOJ) to rescind its decision to increase the deposit interest rate from 0.5% to 1.5%.
KINGSTON, Jamaica, August, 2021m -The Planning Institute of Jamaica is estimating the island's Hotel and Restaurant Sector to have grown by a huge 330.7 per cent during the April to June 2021 quarter, to lead all Goods Producing and Services industries recording growth during the period.
KINGSTON, Jamaica August 26, 2021 - The Planning Institute of Jamaica (PIOJ) says the real Gross Domestic Product (GDP) for the Jamaican economy grew by an estimated 12.9% in the April to June 2021 quarter compared with the corresponding quarter of 2020.
KINGSTON, Jamaica, Aug- 23, 2021 - The Bank of Jamaica (BOJ) is reporting that pilot implementation of a local Central Bank Digital Currency (CBDC), which commenced in June, remains on schedule.