KINGSTON, Jamaica, April 30, 2009 – The Cabinet of Jamaica has approved the long-awaited Government Small Business Procurement Policy that will reserve a minimum of 15 percent of government procurement for micro and small enterprises in the country.
The news has come from Minister of Industry, Investment and Commerce Karl Samuda.
“These policy measures are intended to ensure that some of the government’s business goes to the little man. This could create demand for goods and services provided by the small man, thereby creating employment,” he said.
He also stated that in order to “pump up” demand for goods and services provided by poor people, the Ministry will be embarking on an aggressive promotional campaign.
Samuda further explained that a company would be designated as an eligible small business, if its auditors or accountants certify that its assets do not exceed J$30 million (US$338,983).
In the packaging of contracts, suitable evaluation criteria will be included to facilitate the development of local expertise, technology transfer and sub contracting to small businesses.
The Ministry will maintain a website, which will provide basic information on contract packages earmarked for the small business sector.
Samuda said the ministry will also monitor ministries, departments and agencies to ensure conformity to the policy measures. (JIS)