Photo above: Prime Minister, Andrew Holness (second left), greets Chief Executive Officer of the Jamaica Stock Exchange (JSE), Marlene Street-Forrest (left), ahead of a meeting with business operators listed on the JSE’s Junior Stock Exchange, at the Office of the Prime Minister (OPM), on April 1. Others in the photo (from third left) are: Minister of Finance and Public Service, Audley Shaw, and State Minister in the Ministry, Fayval Williams. Photo credit: Yhomo Hutchinson.
By Denise Dennis
KINGSTON, Jamaica April 4, (JIS) — Chief Executive Officer (CEO) of the Jamaica Stock Exchange (JSE), Marlene Street-Forrest, has commended the government for its decision to continue the benefits under the JSE’s Junior Stock Exchange.
Following an announcement by Prime Minister, Andrew Holness, that his Cabinet had given approval for the renewal of the incentives offered through the program, which expired on April 1, Street-Forrest said the move has served to restore the confidence of persons listed on the Junior Stock Exchange, as well as those looking to come to market.
The Prime Minister said the approval was given as a result of discussions during Cabinet’s retreat last week.
He was speaking to business operators listed on the Junior Stock Exchange in a meeting at the Office of the Prime Minister, last Friday.
Street-Forrest said the restoration of the original benefits will make it easier for operators to prepare to be listed on the exchange.
“The level of confidence (and) the level of entrepreneurship has increased, and we want to thank you for extending the benefits of the market,” she said.
The Junior Stock Exchange was launched by the JSE, through the collaborative efforts of the government, the Board of the JSE, the Financial Services Commission and Steering Committee, on April 1, 2009. It was designed to encourage and promote investment in Jamaica’s entrepreneurship, employment and economic development.
The CEO of Jamaican Teas, John Mahfood, who was present at the meeting, hailed the renewal of the incentives, noting that the Junior Stock Exchange is a good avenue for investment.
He also emphasized the value of having improvement in ease-of-doing business in Jamaica, which is facilitated through the program.
Managing Director of Consolidated Bakeries, Anthony Chang, also offered congratulations to the Prime Minister and government for the continuation of the program’s benefits. He said being listed on the Junior Stock Exchange enables transformation in the management of companies listed.
“The quality of how we manage the company changes and the quality of how staff responds and are engaged changes,” he said.