Government of Jamaica

Emerging Industries

These industries represent new and exciting opportunities for Jamaica’s development

Emerging Industries are defined as these are sectors, typically based on new products, services, technologies or ideas, which are in early stage development and are characterized by high-growth rates and significant market potential. The Ministry of Industry, Investment and Commerce is committed to the support of emerging industries and, has therefore placed special emphasis on nurturing their development.

The current areas of focus include:

  • International Financial Services:The Jamaican government is committed to establishing the economy as a globally competitive destination for international companies offering financial services.  In so doing, it is aimed at transforming the country into an offshore financial hub. Direct employment prospects for the long term could be as high as 15,000 local professionals, with potential estimated revenues to the Government being as high as US$300 million per annum.
  • Medical Cannabis and Hemp: Based on the amendments to the Dangerous Drugs Act, Jamaica is poised for development of the medical cannabis and hemp industries. The regulatory framework for these new industries is currently being developed.
  • Bamboo: This industry presents immense opportunities for the commercialization of bamboo and its by-products.  The Ministry of Industry, Investment and Commerce is currently developing a framework to support & facilitate the organization, growth and development of this lucrative industry.
  • Creative Industries: The creative industries sector present lucrative opportunities for us to share our culture with the world, whilst obtaining an income. Our initiatives to support the improved monetization of this sector include: the Jamaica Film Festival, efforts to develop a Film Fund and strengthening the intellectualproperty regime to facilitate increased access to capital by the sector.

 

Articles

Drafting of Interim Regulations for Cannabis Industry Underway

The Cabinet Sub-Committee on Ganja, this week, gave instructions for drafting of interim regulations for the Cannabis industry to begin. The instructions came after an exhaustive process including...
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Work Far Advanced On Policy for Bamboo Industry

Work currently being undertaken by the Government to develop a policy for Jamaica’s emerging bamboo industry, could be completed by year-end. State Minister for Industry, Investment and Commerce, Hon...
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The Ministry

Welcome to the official website of the Ministry of Industry, Commerce, Agriculture and Fisheries.

The Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) has been charged with the responsibility of driving the integration of the production of primary agricultural produce along all the stages of the supply chain through to value added and facilitating full commercialization of outputs of the agriculture, manufacturing, and service sectors.

We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.

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4 St. Lucia Avenue, Kingston 5, Jamaica
Telephone: (876) 968-7116 
Fax: (876) 960-7422 

Hope Gardens, Kingston 6, Jamaica
Telephone: (876) 927-1731-50 / (876) 619-1731
Fax: 876-927-1904
Email: psecoffice@micaf.gov.jm