JAMAICA BUSINESS NEWS: December 20th – 26th, 2014

GOAT FARMERS LOSING MONEY BY FOCUSING ON MEAT SALES—12/21/14
According to Kenneth King, president of the Jamaica Goat and Sheep Farmers Association, Jamaica’s goat farmers are losing money because they focus on selling meat and ignore other items of value that they could provide to local and international markets. In addition to meat, goats can provide milk, the raw ingredient for cheese, cosmetics, ice cream, and yogurt. Goat hide is also a valuable product with potential on the global market.

PRESIDENT OF IDB PRAISES ECONOMIC PROGRESS IN JAMAICA—12/22/14
The President of the Inter-American Development Bank (IDB) Luis Alberto Moreno says that he is “very impressed” with the Jamaican government and the progress that has been made in the nation’s economic condition. He noted that since his last visit to Jamaica, the nation’s debt has decreased in regard to the GDP, and inflation is also being controlled.

FORBES SAYS JAMAICA BEST CARIBBEAN NATION FOR BUSINESS—12/23/14
Jamaica has received the honor of being ranked the best nation in the Caribbean region for doing business by the Forbes Best Countries for Business Report of 2014. Jamaica ranked 64th out of 146 countries in the report. The business magazine evaluated the countries on several factors, including innovation, taxation, technology, corruption, investor protection, and stock market performance.

OUR RECEIVES APPLICATIONS FOR NUMBER PORTABILITY—12/24/14
Jamaica’s Office of Utilities Regulations (OUR) received number portability administration applications from give telecommunications providers. Once chosen, the provider will develop and manage a centralized reference database and automate the order handling process for fixed and mobile telephony inter-operator communications. One Jamaican firm and four foreign companies have made application for the role.