Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries Floyd Green has committed to fast tracking a manufacturing growth strategy that will guide the expansion of the sector, according to the Jamaica Manufacturers and Exporters Association (JMEA).
Green, in a meeting with the JMEA on Monday, indicated that he had already had discussions with Portfolio Minister Audley Shaw regarding the strategy to be tabled in Parliament in the next two the three months.
According to a release from the JMEA, a team which included President, Metry Seaga, Vice President, Stephen Dawkins, Executive Director, Imega Breese-McNab and Immediate Past President, Brian Pengelley, asked the state minister to examine the issue of low budget financing for manufacturing entities.
Green then committed to looking back at the possibilities to address this issue, including the use of unclaimed funds. The minister will also be revisiting the new loan facility, through the EXIM Bank to ensure that it is at the lowest competitive rate, the JMEA said in its release.
The minister, the JMEA said, is seeking to resolve the issues relating to factory spaces for production that affect local manufacturers. He also committed to meeting with the Factories Corporation of Jamaica to see how they could jointly examine an approach towards making affordable spaces available for manufacturers, the JMEA added.