Government to Launch Turnkey Community Micro-Business Parks to Empower Small Businesses
“The Government has directed the Factories Corporation of Jamaica to identify lands across Jamaica for the creation of Turnkey Community Micro-Business Parks to support Micro, Small and Medium-sized Enterprises MSMEs.”
– Prime Minister Andrew Holness
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Prime Minister Andrew Holness has directed the Factories Corporation of Jamaica (FCJ) to identify suitable lands across the country for the development of Turnkey Community Micro-Business Parks, aimed at bolstering Micro, Small, and Medium-sized Enterprises (MSMEs).
Prime Minister Holness emphasized the vital role MSMEs play in the Jamaican economy, acknowledging the significant challenges they face in securing appropriate facilities such as warehousing and commercial spaces. He highlighted the government’s commitment to providing the necessary infrastructure to support these enterprises.
“MSMEs are critically important to our economy, and they need support,” said Prime Minister Holness. Noting that the private sector has a crucial role in developing affordable commercial spaces, the Prime Minister says the government, through the FCJ, is actively identifying lands to establish these micro-business parks.
The first of these Turnkey Community Micro-Business Parks will be constructed in Morant Bay, St. Thomas. This initiative is designed to complement the ongoing development of Morant Bay Urban Centre by providing smaller businesses in the vicinity with the necessary facilities to grow and succeed, thereby creating a comprehensive ecosystem of real estate and support services.
Additionally, the Prime Minister announced that the FCJ will be exploring opportunities to develop similar business parks near urban centers across the island. This strategic move aims to ensure that MSMEs in various regions have access to the infrastructure they need to flourish.
In his address, Prime Minister Holness encouraged small businesses to remain enterprising and innovative, assuring them of the government’s unwavering support in their endeavors.
The Turnkey Community Micro-Business Parks initiative marks a significant step towards fostering a more inclusive and supportive environment for Jamaican MSMEs, reflecting the government’s commitment to economic growth and development.
Prime Minister Holness was speaking during the official opening of the Adam and Eve Day Spa on Wednesday, May 15, 2024.