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Caribbean Business Club launched in Kingston on Thursday, April 6, 2006

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– Part of the Jamaica legacy strategy for Cricket World Cup
JAMPRO – Kingston, April 5

The Caribbean Business Club (Jamaica) will be launched in Kingston on Thursday, April 6. The President of JAMPRO, Mrs Francis said that “the Club is an opportunity to link Caribbean businesspeople with international firms. The Government of Jamaica has as its priorities, fostering growth and development in target sectors and the hosting of Cricket World Cup 2007 presents an opportunity to maximise business while mixing with sport and pleasure.”

The Caribbean Business Club (Jamaica) is going to be the hub for business networking during and after this major event and its intention is to showcase the region to enhance its export performance in targeted countries and increase the pipeline of business contacts .

The Caribbean Business Club was launched outside the region at the recent Commonwealth Games in Australia to approximately 120 businesses with representatives from a number of other Commonwealth nations.

The Jamaica launch serves to attract Jamaican business people as members of the Business Club. Already over 60 Caribbean Business Opportunity Service (CBOS) subscribers have accepted their automatic membership offer to the Caribbean Business Club, becoming its first Caribbean members.

The Kingston event is one of a series of launches planned for the region and targeted areas across the world. The Business Club concept is a call to businesses to forge new and sustainable trade and investment contacts that will stimulate new business opportunities over the next 5 years.

International Legacy Planning expert, David Faulks, who is leading the Legacy project at JAMPRO, says the initiatives, while they will materialise leading up to, and around Cricket World Cup are far-reaching and sustainable steps that will continue to facilitate trade and investment outcomes for Jamaica and the region well beyond 2007. There have been proven substantial export and investment outcomes through similar Business Club initiatives built around Olympic Games and other major events. So we can be confident about the return on investment of such a venture.”

“It is expected that investments valued at US$3 billion dollars can be achieved up to 2012 through 80 new investment projects that will emerge over the period,” noted Patricia Francis. “This is coupled with the dual impact of greater competitiveness with improved international contacts leading to a five per cent increase in exports and a ten per cent increase in tourism visitor expenditure,” the optimistic Francis commented.

Jamaica is one of nine countries to host the Cricket World Cup in 2007. This event will generate many business opportunities for suppliers of a variety of goods and services in the region.

Caribbean firms have to be prepared to take advantage of the new business relationships that are expected to happen as a result of the third-largest sporting event in the world, being held in this region.

The state’s investment and export-promotion agency, the Jamaica Promotions Corporation (JAMPRO) has created a Legacy Strategy aimed at accelerating development by diversifying the market mix and proactively attracting some new investments into the country.

President, Patricia Francis says “the vision of the strategy looks to 2012 and JAMPRO is mapping out a number of targeted development areas including enterprise, trade, investments and tourism.”

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Written by jamarch