(KINGSTON, OCTOBER 11, 2007): Members of the Board of the Jamaica Stock Exchange, (namely, the Chairman – Mr. Curtis Martin; the Deputy Chairman – Mr. Leo Williams; Director- Mr. Christopher Williams, and General Manager – Mrs. Marlene Street Forrest) paid a courtesy call on the Minister of Finance Mr. Audley Shaw and Minister without Portfolio, Senator Don Wehby, on Thursday, October 11, 2007 at 9:30 a.m.
The Ministers welcomed all present. The representatives of the Exchange took the opportunity to outline a proposal in which the government and the Exchange could develop a partnership for economic growth. This partnership would involve the private sector, investors and the government.
The main issues discussed were:
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Ways to expand inexpensive access to capital
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Measures to Grow Tax Revenue
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Economic Growth
The discussion also involved other areas of collaboration to more efficient regulation and regional and global expansion.
Several recommendations were put forward, in particular, the privatization of some state run entities; the setting up of a Junior Venture Market for the listing of small businesses; and the establishment of the Caribbean Exchange Network (CXN).
Several recommendations were put forward, in particular, the privatization of some state run entities; the setting up of a Junior Venture Market for the listing of small businesses; and the establishment of the Caribbean Exchange Network (CXN).
The Government was receptive to the ideas put forward by the Exchange’s team. Minister Shaw and Senator Wehby were keen on the establishment of the Junior Venture Market and the Caribbean Exchange Network (CXN), as these were areas that could be explored immediately. They urged the Stock Exchange to expedite the implementation of these proposals and promised to lend their full support to these programmes.
The discussions ended on a high note with the Stock Exchange and the Government agreeing to continue the dialogue in working towards a partnership that can lead to economic growth and development.
The discussions ended on a high note with the Stock Exchange and the Government agreeing to continue the dialogue in working towards a partnership that can lead to economic growth and development.
