MSMEs Urged to Make Use of Arbitration in Settling Commercial Disputes

Story Highlights Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, is encouraging micro, small and medium-sized enterprises (MSMEs) to make use of the Arbitration Act in resolving commercial disputes. Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, is encouraging micro, small and medium-sized enterprises (MSMEs) to make use of the Arbitration Act in resolving commercial disputes.The legislation, passed in Parliament in April 2017, seeks to facilitate domestic and international trade and commerce, by providing an effective non-judicial mechanism for settling disputes between contracting parties. It provides for greater flexibility and efficiency in comparison to litigation.The State Minister, who was speaking at the opening ceremony for the Arbitration Week Conference 2019 at the Spanish Court Hotel, New Kingston on Thursday (June 27), said that the legislation is particularly important for local enterprises seeking to access international markets.“What we have been saying to our MSMEs is, to access international markets, you have to look to partnerships; you have to look to commercial arrangements with investors and other companies to get a fair share of the market space. In those commercial arrangements, clearly, a strong dispute settlement regime is critical to underpin those,” he said.“We now have the framework that we can take advantage of. It is now up to us to take advantage of that to truly unleash our economic potential,” Mr. Green added.Noting that the Government continues to streamline the process of doing business in Jamaica, he said equally important in attracting international investment is the presence of an effective arbitration mechanism.“It factors strongly in the ‘Doing Business’ report and our mechanisms for settling disputes. We have to constantly work to strengthen those mechanisms so that those who seek to do business here in Jamaica and seek to invest, are assured there is an easy, time bound, cost effective way to settle disputes. For us, arbitration is the answer,” he said.The two-day conference, which closes on Friday (June 28), is being hosted by the Jamaica International Arbitration Centre (JAIAC) in association with the Jamaican Institute of Quantity Surveyors.It features panel discussions on Sport, Entertainment and Marijuana; Maritime Claims; Judicial Support; Damages and Valuation; and Third Party Funding.The event is part of activities to observe Arbitration Week 2019 from June 23 to 29 under the theme ‘The Journey Continues – Securing Sustainability in a Service Reliant Economy: Opportunities, Dispute Management and Improvement in Gross Domestic Product’. The State Minister, who was speaking at the opening ceremony for the Arbitration Week Conference 2019 at the Spanish Court Hotel, New Kingston on Thursday (June 27), said that the legislation is particularly important for local enterprises seeking to access international markets. The legislation, passed in Parliament in April 2017, seeks to facilitate domestic and international trade and commerce, by providing an effective non-judicial mechanism for settling disputes between contracting parties. It provides for greater flexibility and efficiency in comparison to litigation. read more

Attractions Pivotal To Jamaicas Tourism Product

Dr. Chang said attractions such as Dunn’s River Falls, continue to be among the biggest pulls for cruise and stopover visitors, noting that it has emerged as one of, if not the biggest of its kind in the region. He was speaking at Chukka Caribbean Adventures’ ‘Zip Line over Dunn’s River’ attraction launch in Ocho Rios, St. Ann, on October 4. Story Highlights National Security Minister, Hon. Dr. Horace Chang, says Jamaica’s world-class attractions have been pivotal in positioning the island as a prominent global tourism destination. National Security Minister, Hon. Dr. Horace Chang, says Jamaica’s world-class attractions have been pivotal in positioning the island as a prominent global tourism destination.Dr. Chang said attractions such as Dunn’s River Falls, continue to be among the biggest pulls for cruise and stopover visitors, noting that it has emerged as one of, if not the biggest of its kind in the region.He was speaking at Chukka Caribbean Adventures’ ‘Zip Line over Dunn’s River’ attraction launch in Ocho Rios, St. Ann, on October 4.Dr, Chang noted that despite the growth in hotel development in Jamaica over the years, “it became clear that we needed to do more in order to get the volume of visitors we would want to bring to our shores”.“As time went on, the need to ensure that Jamaica could offer world-competitive attractions became a key part of the industry,” he argued.While acknowledging that Jamaica is blessed with a number of natural attractions… the Minister contended that “[there is] nothing that could compare to the size and appeal of Dunn’s River Falls”.The Minister said Dunn’s River’s mystique defies the imagination, noting that there are few places globally boasting a river with waterfalls flowing to a beach.“It is just one of those peculiarities that we are lucky to have and which reinforces the point that Jamaica is, indeed, a blessed country,” he added.Dr. Chang noted, however, that although the attraction can stand on its own merit, it requires input to broaden its appeal.Against this background, he welcomed the collaboration forged between Chukka Caribbean Adventures and the Urban Development Corporation (UDC), which owns and operates Dunn’s River, as a “step in the right direction” that is consistent with the Government’s focus on bolstering public and private-sector partnerships.The UDC and Chukka Caribbean Adventures have entered into an arrangement where for the very first time, the popular zip line has been introduced as a part of the offerings at Dunn’s River Falls.“Chukka is undoubtedly the Caribbean’s number-one attraction company. It has so many assets… it brings so many benefits. As a Jamaican company, it means that there is and will be greater spend by the tourist in Jamaica.They have really chartered the course in many ways and have showed us how we can make an attraction a business.” the Minister said.Dr. Chang said the Government has taken steps to remove a number of taxes that were impediments to business and business expansion, so as to encourage investment and to give companies like Chukka the incentive to do even bigger and greater things.“This partnership will add to the quality of the attraction. It is a welcome addition and we are encouraging other partners to step up with their ideas, where the Government can lend its support,” he added. read more