Some 400 participants from India, Africa, China, South America, North America, Europe and the Caribbean engaged in discussions on how to partner for Growth within the Regional economies. These discussions were facilitated through the three-day Regional Conference on Investments and the Capital Markets, hosted by the Jamaica Stock Exchange at The Jamaica Pegasus Hotel, January 18-20, 2016.
Prime Minister of Jamaica, The Most Hon. Portia Simpson Miller, delivered the Keynote Address at the Opening Ceremonies, on “The Growth Agenda - Moving Beyond Debt Management and Growing the Economy Through Investments”. Prime Minister and Minister of Finance of The Bahamas, The Rt. Hon. Perry Christie, opened The Conference and spoke passionately on the topic, “Positioning the Caribbean in the International Arena.” He spoke candidly about his expulsion from High School as the critical turning point in his life, the good fortune of being mentored to greatness and power of being given a second chance. The RT Hon. Perry Christie motivated the listeners through his passion and the sharing of his experience. Other notable leaders at the Conference included Dr. the Hon. Peter Phillips, Minister of Finance, who spoke on “The Growth Agenda: Creating Employment and Increasing Tax Revenue” and Mr. Andrew Holness, Leader of the Opposition, who spoke on “The Path for Economic Growth and Job Creation”.
General Manager of the JSE, Mrs. Marlene Street Forrest, explained that the Conference theme, “Reaching Beyond Traditional Boundaries-Exploring and Partnering for Growth for All”, aims at highlighting that countries in the region must recognize that prospecting within our regional markets alone will not provide the growth and sustained prosperity that each badly crave.
“Our objectives will be better realized as we explore and forge extra-regional alliances to deliver innovative products and services to the larger global markets,” she said. She further stated that “As a country, we can bask in the successes of Jamaica, which Bloomberg acknowledged as the best performing Exchange in the World for 2015.” She noted that “over 90 per cent rise in the JSE composite index, was largely driven by foreign acquisitions, better investor safeguards and an embryonic economic rebound.”
The JSE’s Chairman, Mr. Allan Lewis in his opening remarks said that “The JSE is a vital institution in the broader financial market infrastructure for a well-functioning financial system,” He appealed to the government to reconsider its decision to discontinue the incentive at the end of March 2016 and requested an extension of the time. JSE’s Chairman emphasized to the Conference participants that “Since an effective financial system plays a vital role in supporting economic growth and meeting the financial needs of citizens, it follows that the JSE plays a vital role in achieving this goal.“
According to an excited participant, “I really enjoyed the Conference, Mr. John Mahfood (CEO Jamaican Teas Ltd) and Mr. Derrick Cotterell (CEO Derrimon Trading Company Ltd) who talked about how to “Start, Run and Grow Your Business – Practical Advice from the Experts showed us a vison for growth and that with a little effort we can find opportunities that will overcome the economic challenges.”
Another area where participants showed keen interest was the presentations which focused on opportunities to obtain support to finance new ideas, which was delivered by the General Manager of JN Fund Managers Ltd, Mr. Brando Hayden, who shared on “New Approaches to Regional Funding – Crowd Funding, the Newest Rage”.
The JSE continued to use its annual Conference to unite SMEs with potential investors and financiers through its Venture Capital Pitch Room. The winner of this year’s Pitch Room from among six finalists was Natures Tea developed by Jordon Freeman of Mona Technology Park, UWI, Mona.
