Jamaica’s Business Process Outsourcing (BPO) sector is set to benefit from a massive $64.5 million (US$480,000) grant through the Compete Caribbean’s Cluster Project.
The grant, which will be managed by the Business Process Industry Association of Jamaica (BPIAJ), seeks to help local players in the BPO to digitize their operations and embrace growing trends in the Global Services Sector (GSS) to grow up the value chain.
The grant funding to the sector, which was announced on Wednesday, also seeks to optimise processes within the BPIAJ to support growth within the industry; engage in knowledge and outreach activities for cluster members and other stakeholders.
Compete Caribbean Project Cluster Project
Click the gallery for more photos from Wednesday's announcement
President of the BPIAJ, Gloria Henry sees the recent funding as a means of further developing and sustaining the local industry.
“We are pleased with this initiative and consider it as an opportunity to address the myriad of capacity issues that continue to plague the growth of the SMEs in Jamaica and specifically the global services sector,” said BPIAJ, Gloria Henry.
“As an association, this project also presents a much-needed opportunity to strengthen our own internal capacity to deliver specialised services to our members,” Henry added.
This latest grant forms phase two of the Compete Caribbean initiative that started in 2013.
Partner countries include the UK and Canada as well as international donor organisations, namely the Inter-American Development Bank provided the grant.
Donor countries and organisations provided US$400,000 with the other US$80,000 coming from BPIAJ.