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The Voice

Private sector gets major EU boost
published: Sunday | December 12, 2004


- CONTRIBUTED
President of the Jamaica Manufacturers' Association, Doreen Frankson (right), caught in animated discussion at Friday's signing of the memorandum of understanding for the Private Sector Development Programme (PSDP) at the offices of JAMPRO. Listening intently are (from left) president of JAMPRO, Pat Francis, Ambassador Gerd Jarchow, head of the delegation of the European Commission and vice-president of the Jamaica Exporters Association, Marjorie Kennedy.

Ashford W. Meikle, Staff Reporter

THE EUROPEAN Union (EU) has signed a memorandum of understanding (MOU) with representatives of the Jamaican private sector which will see the EU committing 20 million euros (J$1.66 billion) to the Private Sector Development Programme (PSDP). The signing took place on Friday at the New Kingston offices of JAMPRO.

Other relevant partners at the signing were key private sector organisations and other support institutions such as the Jamaica Manufacturers Association (JMA), Private Sector Organisation of Jamaica (PSOJ), the Jamaica Exporters Association (JEA) and the Small Businesses Association of Jamaica (SBAJ). Also signing the MOU were representatives from the Jamaica Business Development Centre (JBDC), the Planning Institute of Jamaica (PIOJ) and JAMPRO.

A release from JAMPRO stated, "The PSDP is a technical assistance programme jointly funded by the EU and the government of Jamaica (GOJ) and is geared at strengthening the competitiveness of the private sector...[it] aims to enhance the competitiveness of micro, small and medium-sized enterprises-and to strengthen their support and representative organisations."

The four-year programme is slated to begin in 2005 and has a total budget of 28.7 million euros (J$2.4 billion). Twenty million euros (J$1.66 billion) will be contributed by the EU while the remaining 8.7 million euros (J$722 million) will be contributed by the GOJ and beneficiaries.

Head of the delegation of the European Union in Jamaica, Ambassador Gerd Jarchow, remarked that the MOU "formalises the relationship between the different stakeholders [and] marks the culmination of two years of pivotal work." He emphasised that it "should be seen as a symbol of the continuing partnership between the EU, GOJ and the private sector."

ACCESS TO NEW MARKETS

According to Mr. Jarchow, the PDSP will allow Jamaican small and medium businesses "access to new markets and develop new markets...to be able to compete more effectively with international markets." He argued that it would engender "better sustainability of business in Jamaica, increase revenues (and result in) more Jamaicans being a part of the formal economy."

Speaking with Sunday Business, the ambassador said that the PDSP programme differed from previous EU assistance because from the outset, "all stakeholders helped in designing the programme so that it reflected the needs of the private sector so that they can become more sustainable and competitive." He gave his assurance that "private sector (organisations) would always be a priority of the European Union."

In her remarks, president of the PSOJ, Beverley Lopez, said her organisation "welcomed this long awaited initiative... to promote wealth creation, job creation and economic development." JAMPRO's president, Patricia Francis, noted that the MOU marked the "beginning of a very important partnership and reflects the commitment of the government to the development of the private sector."

The director general of the PIOJ, Dr. Wesley Hughes, said the signing of the MOU was timely as it represents the fruition of the government's Country Support Strategy, 2002-2007 study which was prepared with the EU. Arising out of that study the objective was "target significant grant resources for the further development of the Jamaican private sector."

Dr. Hughes argued that the PSDP demonstrates the "Govern-ment's continued commitment to providing an enabling environment for private sector growth and development."

The main beneficiaries of the PSDP will be intermediary organisations (such as private sector associations and support institutions and micro, small and medium-sized enterprises with growth potential.

While the PIOJ will be the national authorising office, JAMPRO will be given overall responsibility for co-ordination and execution of the programme through the establishment of a project management unit.

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