PRIVATE INVESTMENT & EXPORT DEVELOPMENT

closed

The objective of the project will be to help accelerate internationally competitive investments and exports of Jamaican private enterprises. The export support systems component will establish: (a) an export support program to accelerate the acquisition of export know-how in export market research, product adaptation, and market penetration; (b) a more effective export free trade regime mainly through a privately controlled free trade zone (FTZ) regime, privatization of existing FTZs, and a single factory free zone regime to extend equal footing status to enterprises in the Customs Territory; and (c) a labor training and adjustment program to facilitate skill upgrading and labor redeployment as required by new enterprise investments. The financial sector support component will enhance the basis for capital markets development and financial intermediation through: (a) a financial sector advisory program aimed to help upgrade prudential regulations and banking supervision, reshape the operations of the Government's two public development banks, and increase export financing through training and a preshipment guarantee program; and (b) a long-term credit program to finance investments expected to build or restructure, largely export-oriented, production capacity.