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Page 5MEMBER FOCUSThe evolution of Rainforest Seafoods

Page 7 MEMBER FOCUSIntcomex: 12 years of supplying Jamaica’s technological needs

Page 9COVER STORY Fuel diversification the key to solving Jamaica’s energy crisis

Page 11COMMITTEE REPORTDavid Barrett leading the PSOJ’s charge for energy diversity

Page 12COMMITTEE REPORTHighlights from the Position Paper on Energy and the Environment

Page 14MEET THE STAFFOmar Chedda

Page 15YUTE FEATUREPhilisha Lewis appointed to ministerial board Page 16HAPPENINGS

Page 17NEWSEarl Jarrett named Manager of the Year

Tribute to G Richard Fontaine

Page 18NEWSFrom the CEO’s Report

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Table of ContentsMessage from the Editor

Page 9Page 5

Page 16

Malcolm Gladwell is one of my personal heroes, so when I heard, through PSOJ member and friend Knolly Moses, that he would be speaking at the Distinguished Leadership and Innova-tion Conference in Trinidad on March 29, hosted by the Arthur Lok Jack Graduate School of Business, I knew I had to be there to hear him.

Fortuitously, I was due to participate in a two-day seminar in Port-of-Spain, hosted by the Inter-American Investment Cor-poration (IIC) on March 27 and 28, so it only meant staying an extra day to hear, first hand, from this award-winning writer whose mother happens to be a Jamaican!

Malcolm Gladwell is a storyteller par excellence. In his over one hour presentation in the morning session of the conference, he held the audience of over 600 persons spell-bound as he told stories about leadership. The theme of his address centred on a term used by psychologists, “miscalibration”, which Mal-colm says refers to any situation “where there is a gap between how good you are and how good you think you are. When one looks at situations where expert leaders make mistakes, you find time and time again this is due to miscalibration.” He shared examples from the military and from the recent global financial crisis. Fascinating!

In the afternoon session, Malcolm introduced a panel of five, which he referred to as “Caribbean Outliers” chosen from a group of eight which had been nominated by the public. Among them was Jamaica’s own Alex Morrisey, a talented 23-year-old whose Jamaicansmusic website is making waves interna-tionally. Alex was one of the winners of the Jamaica Observer’s “Moguls in the Making” award and is certainly one to watch!

We will have to employ the same level of forward thinking as we seek to facilitate change in the local energy sector. Jamaica is currently in the middle of an energy crisis, spending more on fuel than double our GDP growth. The Energy and the Environ-ment Committee’s upcoming Position Paper will put forward a number of recommendations that we hope will help to cut our fuel import bill as we diversify our energy sources.

Author and motivational speaker Malcolm Gladwell with Sandra Glasgow, PSOJ CEO

rian Jardim definitely has business in his blood. After spend-ing 10 years at the Sandals Resorts International empire with his father Gordon ‘Butch’ Stewart, he struck out in 1995 to carve his own destiny away from the hotel indus-

try. As it turned out, however, he didn’t got too far away as his business ventures Rainforest Seafoods and Island Entertainment Brands, operators of Margaritaville Caribbean, are both connect-ed to tourism in some way.

Rainforest Seafoods was founded in 1995, when he began broker-ing seafood from Guyana to other islands across the Caribbean. Three years later, Jardim set up the current distribution centre in Freeport, Montego Bay. “We saw the need for a consistent sup-ply of high-quality seafood for the hotel sector and it just fell into place that way,” he said.

Today, the company is the largest supplier of seafood in the Carib-bean, operating from its corporate headquarters in Montego Bay. Rainforest distributes more than 400 types of premium fish and shellfish to customers across the region and employs more than 250 persons. “We evolved from basic freezer storage facilities to a more elaborate facility in Montego Bay in 2005. This gave a big bounce to our ability to supply [our customers],” Jardim said.

In a few months’ time, the company will open a bigger, even more state-of-the-art plant and processing facility on Slipe Road in Kingston. This plant will enable the company to o!er more value-added products and expand its product line, making it easier to supply fast food restaurants and also to increase its export capac-ity with more local seafood items.

Rainforest currently sources the majority of its seafood from Guyana, but it also expanded into Suriname, Belize and Honduras. Exports to the US are done from the latter two countries. “This market calls for fresh more than frozen products,” Jardim said. “The products are sold up and down the eastern seaboard, from Miami to Boston.”

The hotel sector makes up the core of the Rainforest market lo-cally and regionally, but average people have slowly taken to the more exotic o!erings such as clams, squid, mussels, octopus and sushi grade fish as well, Jardim said.

Of course, the business is not without its challenges. The fisheries industry is governed by seasonal and quota regulations, but Rain-forest has coped with this challenge by always seeking to expand its storage capacity.

Additionally, Marketing Manager Roger Lyn said, business is sometimes frustrated by instability in exchange rates, the current sluggish economy and unfavourable trading policies in some coun-tries. Rainforest Seafoods has been a member of the Private Sector Organisation of Jamaica since 2009 and Lyn cited the organisa-tion’s “strong leadership and influence in a number of areas in our country” as the main motivation to sign up. Jardim said he is looking forward to participating in PSOJ initiatives as the Kingston operation grows.

Rainforest also makes it a point of duty to give back. Jardim ex-plained that the company donates hundreds of pounds of seafood to various charities each week, such as Missionaries of the Poor, children’s homes and hospices. The company also supports the annual Committee for the Upliftment of the Mentally Ill (CUMI) Fun Run fundraiser, in addition to providing scholarships for em-ployees who want to further their studies and high school and college scholarships for sta! members’ children.

Lyn credited the commitment of the Rainforest team for creat-ing a brand of seafood that customers can recognise and trust in Jamaica and the wider Caribbean. With a strong presence in these markets as well as the US, the next step will be penetrating the French and Dutch Caribbean markets, hopefully by the end of the year.

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member focus

The evolution of Rainforest Seafoods

BBrian Jardim,

founder and CEO of Rainforest Seafoods Limited

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member focus

Intcomex: 12 years of supplying Jamaica’s technological needs

ntcomex Jamaica is the sole local distributor of a wide range of information technology products, making it one of the largest and most successful businesses in the country, even though it has never advertised or marketed itself.

“We represent brands such as Hewlett Packard, Dell, Intel, Mi-crosoft - all major brands apart from Apple, so we have direct relationships with all of them,” Managing Director Matthew Deleon said. “The real positive aspect for Jamaica is that we are able to take advantage of the buying power of our other o"ces throughout South and Central America such as Chile, Mexico and Colombia… When we put all the Intcomexes together, we get a much better price and that price we pass on to the con-sumer indirectly.”

The company was started in 2000 as a franchise of Intcomex, a US-based distributor of IT products operating in 15 countries throughout Latin America and the Caribbean. Deleon was a customer of the parent company and the owners, who are Ja-maicans, approached him to set up a local charter.

Intcomex Jamaica sells computers and related equipment and software, electronics, network cabling, security cameras, and more. The company also o!ers before and after sale service and repairs and also does consultations. “We’ve grown our business tenfold in 12 years. We’ve been able to establish re-

lationships with every single entity in Jamaica that is in the IT business,” Deleon said.

This is an exciting year for Intcomex Jamaica as its parent com-pany recently acquired Brightpoint, one of the top three dis-tributors of handsets in the world. The parent company is also gearing up for its IPO on the New York Stock Exchange through Citibank, which acquired Intcomex in 2006.

Intcomex Jamaica continues to flourish despite the di"cult economy by setting aggressive targets. The company doesn’t have to worry about local competition, but keeps a close eye on similar distributors in Miami and the growth of the online shopping industry. Deleon cited Intcomex’s huge local inven-tory, strong customer support and local know-how as the fac-tors that keep the business moving forward.

Presently, Intcomex Jamaica is developing its mobile division and working on creating a wider distribution network of its products across the country. It is also planning a computer and electronics show in October that will cater to the general pub-lic. “It’s going to be focused just on IT products. We’re looking to partner with all the major players in the IT business world-wide to bring to the show the latest technology that is out there so that the general consumer can see the possibilities and the potential,” Deleon said.

IManaging Director, Matthew Deleon (back) and the Intcomex Jamaica team at a sta! retreat in Strawberry Hill, St Andrew.

n 1974, the world was hit with the first ‘oil price shock’ as Arab producers imposed an embargo as a means of pun-ishing the west, specifically America, for getting involved in Israel’s war against Egypt. Oil prices skyrocketed, leading to

severe economic problems in oil-dependent countries such as Jamaica. In fact, between 1973 and 1974, the country’s oil im-port bill increased by 172 per cent.

Almost 40 years later, Jamaica still finds itself heavily dependent on oil for its energy needs, with 95 per cent of our electricity produced using oil. Over the past 20 years, Jamaica’s fuel import bill has trebled from US$546 million in 1990 to US$1.8 billion in 2010. This is an unsustainable position to be in, certainly, as oil imports alone cost more than the country earns from merchan-dise exports.

One solution that has been put forward by the Private Sector Organisation of Jamaica’s Energy and Environment Committee is greater fuel diversification. This was the main focus of the committee’s meeting earlier this month.

“We, as a company, consider it very important to work along-side key stakeholders to bring the full benefit of fuel diversity to our customers and to our country. We aim to prove that our options that are available are real options and are good for the economy,” said Valentine Fagan, Vice President, Generation Expansion at Jamaica Public Service Company ( JPSCo) during his presentation.

Fagan highlighted three such options for fuel diversification: natural gas, coal and petroleum coke (petcoke). Among the fac-tors that make natural gas a viable option are abundant reserves worldwide, significant improvements in liquefying, transporting and re-gasifying costs and global expansion in liquefied natural gas shipping capacity. Viable sources for fuel include Trinidad and Qatar and future sources include Colombia, Venezuela and the US.

Jamaica would also look to the latter three countries for its coal supply. Coal, in comparison to most fuels, has a steady price outlook, which makes it a favourable option. Additionally, “coal is the only reasonable fuel source that is not controlled by car-tels,” Fagan said.

The third option, petcoke, is a solid derived from the refine-ment of petroleum. This is also readily available from Venezuela, which ships about 2.5 million tonnes per year and production continues to increase. Fagan said the JPS could also obtain pet-coke from the PetroJam refinery, which should become opera-tional later this year.

Of the three alternative fuel sources, gas is the most favourable option as the generation cost is less than that of coal and, being a clean-burning fuel, it is also safer for the environment. The JPS is currently working on establishing a new plant

I

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cover story

Fuel diversification the key to solving Jamaica’s energy crisis

Members of the PSOJ’s Energy and the Environment Committee, representatives of the Jamaica Public Service Company and other energy sector players in discussion at the recent committee meeting.

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in Old Harbour which will utilise liquefied natural gas (LNG). “We are working to do an environment impact assessment study and also a health impact assessment study,” Fagan said.

With regard to the generation capacity of the JPS, he stressed that investment is needed in new plants to meet demand and replace old and ine"cient units. Presently, about 40 per cent of the company’s units are over 30 years old. Fagan also noted that renewables can play an important role in Jamaica’s fuel mix, but in a small capacity.

JPS chief financial o"cer, Don Theoc, echoed the call to diversify Jamaica’s fuel mix as soon as possible. He was especially excited about the LNG project, which, he said, we should have already started. He revealed that the company’s Old Harbour plant will be ready to use gas by January 2015. “Natural gas – good first step. We have to start working this year, as a country, on coal, because coal can be done for 2018,” he said.

Chris Zacca, chairman of the LNG Steering Committee and immediate past president of the PSOJ, highlighted some of the upcoming plans for the project. “This is an extremely complex

project that is creating something from nothing and you’re trying to involve the power sector as well as the industrial sector, start-ing with the bauxite/alumina sector,” he said.

The project currently has three launch customers, JPS’ new power plant, the existing Jamaica Energy Partners ( JEP) plant in Old Harbour and the JAMALCO refinery. This would generate a total of approximately 800,000 tonnes of energy a year, Zacca said. However, JPS is the only sure prospect as the other two are tentative. If the project goes ahead with only one customer, it would lead to an exponentially higher cost for the gas. “It is in the country’s interest and the private sector’s interest that we find every way to lobby to ensure that whatever it takes, the other launch customers are included,” Zacca urged.

He also provided updates on the bids for the floating storage and regasification terminal, which are necessary for LNG pro-duction. Bids are due at the end of April and the LNG commit-tee is hoping the terminals proposed will be near shore. Thus far, they have secured cooperation from JPS, Windalco (owners of Port Esquivel) and UC Rusal. Zacca advised that the first phase of the request for proposal process is well underway, with long-term bids from three major international companies already in the running.

Energy and the Environment Committee member Christopher Levy, Jamaica Broilers Group

LNG Steering Committee chairman and immediate past president of the PSOJ, Christopher Zacca

Eleanor Jones, member of the Energy and the Environment Committee

Valentine Fagan, Vice President, Generation Expansion at Jamaica Public Service ( JPS)

amaica’s energy crisis a!ects every citizen of the country, but it is especially costly for members of the business sector, who find themselves paying millions of dollars in electricity bills per annum.

Several key players in this sector have come together to form the Energy and Environment Committee of the Private Sector Or-ganisation of Jamaica. The 13-member group, which is currently finalising the PSOJ’s Position Paper on energy and the environ-ment, is chaired by David Barrett, principal consultant of ENBAR Consulting.

Barrett has some 20 years experience in the energy and environ-ment sector, working first in the public sector at JAMPRO and the Petroleum Corporation of Jamaica (PCJ) before going into busi-ness for himself in 2006.

After 13 years at the PCJ, Barrett began looking for private sector opportunities in petroleum or renewable energy and eventually signed a contract as country manager with Finder Caribbean Lim-ited, an Australian oil and gas exploration company prospecting in Jamaica’s south coast waters. “Since Finder is focused only on oil and gas, ENBAR allows me to continue providing services re-garding renewable energy, energy e"ciency, capacity building and project management. So now I have the best of both sides of the energy world and I am able to link them to positive environmental management practices,” he said.

ENBAR provides customised energy and environment-based services and project management for various clients. Past and present projects have included the development of ocean wave energy conversion applications through UNDP/GEF funding, en-

ergy audits through EFJ funding and regional environmental audits through EU PROINVEST funding.

Barrett majored in botany and zoology at the University of the West Indies, Mona and later studied energy and environment at the University of Calgary in Canada. At the PCJ, his work focused on renewable energy, environmental management and project management. “There I spent many days in the ‘bushes’, managing or participating in biomass, solar and hydro projects. The attrac-tion to these fields grew as the reality became clearer that energy and the environment were inseparable,” he said. “Our natural environment provides the energy resources nations needed to develop and the energy options exploited and used in turn a!ect the health and sustainability of the environment we depend on. It’s a complete loop.”

Barrett joined the PSOJ in 2006. At the time, the former Energy Committee was not as expansive as he had hoped it would be, but after the group was revamped, he was approached last July by CEO Sandra Glasgow to be the chairman.

“The committee was reborn at the headwinds of a growing pub-lic restlessness with high local energy prices, volatile oil markets, increasing oil prices and challenges in the electricity generation market. So though its mandate has morphed in the face of an imminent energy crisis, the critical roles remain to influence Gov-ernment’s directives and policies on energy and environment and to create sustained national development and a viable energy en-vironment for businesses to thrive,” Barrett explained.

Currently, the committee’s primary task is the completion of the Position Paper. “As far as possible, the Position Paper will suggest or make projections/scenarios for a vibrant and productive busi-ness environment. [It] will be concluded by May 2012,” he said.

The other members of the Energy and Environment Committee are: 1. Sandra Glasgow – PSOJ2. Omar Chedda – PSOJ3. Paul Grey – Sandals4. Jacqueline Simmons – Jamaica Public Service Company ( JPS)5. Sam Davis – JPS6. Gordon Craig –Total Jamaica Ltd7. Christopher Levy – Jamaica Broilers Group Ltd8. Eaton Haughton – Caribbean ESCO Ltd9. Donovan Betancourt – Digicel10. Eleanor Jones – Environmental Solutions Ltd (ESL)11. Winston McCalla – ESL12. Ruth Potopsingh – Director Sustainable Energy, UTECH

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Committee reportDavid Barrett: Leading the PSOJ’s charge

for energy diversity

JChairman of the Energy and Environment Committee, David Barrett

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he Private Sector Organisation of Jamaica, through its Energy and Environment Committee, is currently finalising its Position Paper on Energy and the Environ-

ment.

The document breaks down Jamaica’s energy profile over the past 40 years, including factors contributing to the country’s high energy bill, solutions that have been devised over the years and examines the current energy policy be-fore outlining the PSOJ’s recommendations. Here are some of the key points:

JAMAICA’S ENERGY PROFILEJamaica has none of the traditional fuels – petroleum, nat-ural gas or coal – that form the energy base of modern industrial societies. Over the past 20 years, the country’s fuel import bill has trebled from US$546 million in 1990 to US$1.8 billion in 2010, at which point oil imports ac-counted for 91 per cent of energy fuels.

To further put things into perspective, our oil import bill has exceeded earnings from merchandise exports since

2008. In fact, prior to the recent global recession, Jamaica’s demand for imported fuel was growing at an average rate of 3.7 per cent annually – more than double the rate of Gross Domestic Product growth.

FACTORS CONTRIBUTING TO JAMAICA’S HIGH ENERGY BILL The main contributing factor towards Jamaica’s high oil import bill is ine"ciency in our fuel-to-energy conversion. Jamaica is estimated to waste more than half the available energy in the imported fuels, using 1.5 to 1.8 barrels of oil equivalent (BOE) to produce every US$1,000 of output. This compares with one BOE per US$1,000 for Costa Rica and 0.5 to 0.7 BOE per US$1,000 of output for Japan.

Additionally, Jamaica’s per capita energy consumption of 2057.6 kilowatt hour (kWh) per year in 2003 (according to the World Resource Institute) was much higher than the vast majority of non-oil exporting countries. Jamaica is also among the highest cost producers of electricity (US$0.33) in the Caribbean and in relation to our main trading part-ners, which places local businesses at a severe competitive disadvantage.

STEPS TAKEN TO ADDRESS JAMAICA’S ENERGY CRISISSince 1974, e!orts have been made to get the country’s energy situation under control, but with little success. Much emphasis has been placed on conservation and while there has indeed been an 18 per cent decrease in house-hold electricity consumption from 200 kWh per capita in 2003 to 164 kWh in 2010, it is not clear whether this is due to conservation or simply demand reduction stemming from high electricity prices.

Committee reportHighlights from the PSOJ’s

Position Paper on Energy and the Environment

T

Over the past 20 years, the country’s fuel import bill has trebled from US$546 million in 1990 to US$1.8 billion in 2010, at which point oil imports ac-counted for 91 per cent of en-ergy fuels.

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There have also been a number of small to modest e!orts to expand renewable energy output, including 23 MW hy-droelectricity, the establishment of the Wigton Wind Farm (38 MW) and JPSCo’s wind power plant (3MW) and the use of 15,000 solar heaters and a rapidly growing number of photovoltaic installations in Jamaican homes and busi-nesses.

Despite these and other developments, Jamaica’s 91 per cent dependence on imported petroleum suggests a lack of urgency by the authorities.

CURRENT ENERGY POLICYJamaica’s National Energy Policy 2009-2030 outlines seven stra-tegic priorities:

The policy also sets out several specific objectives and targets, including reducing the share of petroleum in the country’s fuel supply mix from 91 per cent to 30 per cent by 2030. This will be done by substituting liquefied natural gas (LNG) for up to 42 per

cent of the fuel supply, with another 20 per cent coming from renewables and five per cent from coal.

RECOMMENDATIONSThe PSOJ recommends a strategic decision to act on the policies outlined in the National Energy Policy 2009-2030 under three broad headings: conservation and e"ciency, fuel diversification, and governance and regulatory issues.

The organisation has put forward more than 45 recommenda-tions, several of which are drawn from public documents and various consultancy reports. Some come from a recent Euro-pean Union (EU)-funded audit of the energy and environmental policies and practices in business enterprises in Jamaica, Trinidad and Tobago and St Vincent. The audit was directed by the PSOJ in partnership with the Caribbean Association of Industry and Commerce (CAIC).

THE PSOJ’S RECOMMENDATIONS INCLUDE:

meet the staffOmar Chedda:

The motivated multitasker

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1. Tell us a little about yourself. I am the Trade and Environment Manager at the PSOJ. In this capacity, I manage external projects and act as the coordinator for the PSOJ’s Trade Policy and Energy and Environment Com-mittees. This involves coordinating stakeholder consultations and fostering private/public sector partnerships to shape the country’s policy framework.

My major responsibilities include: advising on international trade developments and energy and environment issues, and develop-ing and managing capacity building projects to address challenges in these areas.

I have represented the PSOJ on an energy and environment investment mission to Belgium and the UK and participated in the International Visitor Leadership Programme in the USA, sponsored by the US State Department. I also participated in training programmes at the London School of Economics; and Georgetown University (Washington DC) on the economics and governance of climate change and multilateral trade issues, respectively.

2. When and how did you join the PSOJ?I joined the PSOJ in 2008 in keeping with my desire to become more involved in development work that would have a meaning-ful impact on the local business environment and the country’s growth prospects.

3. What are some of your responsibilities as Energy and Environment Manager?

-try’s policy framework

-ects with the assistance of donor funding

-bership abreast of the latest developments and possible impacts

4. What is your proudest achievement working for the PSOJ?I would say that this was successfully developing and implement-ing a regional energy and environment capacity building project funded by the European Union, under the ProInvest facility in cooperation with the Caribbean Association of Industry and Commerce (CAIC).

5. What is your main work-related goal for this year and how will you go about achieving it?I have several goals for this year. First, two policy documents ad-dressing trade and energy and environmental issues are expect-ed to be launched by mid-year, which will be used as advocacy tools by the organisation.

I also expect to achieve the outputs of a project that I am manag-ing, funded by the Caribbean Development Bank (CDB), which seeks to improve Jamaica’s market access to CARICOM and EU markets for goods and services. The project involves workshops to build exporter capacity for intra-regional trade and exporting to the EU; the development of a regional trade database; a trade mission to Barbados and Trinidad and the launch of exporting manuals.

Finally, I am committed to ensuring the success of the St James Youth Training and Job Placement Project, which is a component of the EU Banana Support Programme. This project seeks to train about 200 young persons in south St James for employment in the ICT industry, as an alternative to the traditional banana in-dustry due to the fallout resulting from the loss of preferential trading arrangements for banana exports. It will be a challenge working with my counterparts so far away, but hopefully this project, too, will be a great success.

Omar Chedda, Trade and Environment Manager at the PSOJ

tudent, athlete, coach, administrator and YUTE partici-pant Philisha Lewis has recently been appointed to the board of the Housing Agency of Jamaica.

Born and raised in Jones Town, Lewis describes herself as a lover of football after having been exposed to the sport, along with netball and track and field. She explained that while at Jones Town Primary School, although her football abilities surpassed that of her male counterparts, she was advised by her teacher to focus on her academic studies.

With no regrets, Lewis continued her studies, matriculating to Charlie Smith High School in 1996. It was then that she joined the Duhaney Park Sports Club and got the opportunity to play with more experienced teams such as AC Milan in the local women’s league.

Lewis was called to play for the Jamaica’s national women’s football team at age 16 and was given scholarship o!ers to at-tend several local high schools. She opted to attend St Jago High School, which a!orded her the opportunity to further hone her sporting talents. She was later o!ered a scholarship to Bethel College in McKenzie, Tennessee, which later allowed her to play semi-professional football and earn a bachelor’s degree in Busi-ness Administration and Management.

Upon returning to Jamaica, Lewis explained that like other young people with a first degree applying for a job, she expe-rienced hearing on more than one occasion that she needed to have more experience, which became frustrating. She was introduced to the Youth Upliftment Through Employment Pro-gramme (YUTE) by family members and shortly after applying to the programme, she was o!ered a three-month internship with Development Options Limited as an administrative assis-tant. Lewis has since been o!ered a permanent placement with the firm.

Reminiscing on her tenure at Development Options Limited, Lewis said she has grown as an individual and has gained valuable work experience which has made her more adaptable, more ef-ficient and knowledgeable.

Of course, Lewis continues to play football. She is a senior member of the Barbican women’s team, where she plays the sweeper/defender position. The club has won the Sherwin Wil-liams Women’s League competition for the past four seasons.

Humbled by her recent appointment to the board of the Hous-ing Agency of Jamaica, Lewis explained that she is enthusiastic to continue learning and credits YUTE for equipping and moulding young persons like herself to achieve their true potential.

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YUTE participant appointed to ministerial board

yute feature

SPhilisha Lewis posing with her awards from Bethel College (left) and in action on the football field.

happenings

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TRAINERS AND SMES DISCUSS ETHICS IN TRINIDADA five-member Jamaican delegation travelled to Port-of-Spain, Trinidad to participate in the FINPYME Integrity Business Ethics Programme Ca-ribbean Meeting, held at the Hyatt Regency Hotel on March 27 and 28. The regional meeting was hosted by the Inter-American Investment Corporation (IIC) to discuss the progress of the FINPYME Integrity Ca-ribbean project.

Sandra Glasgow, ethics trainer and CEO of the PSOJ led the group which included trainer Deanna McFarlane, CEO of EDMA Solutions Limited and three participating SMEs represented by Wayne Stanbury, Managing Director of Berry-Don Financial Services Limited, Debbie Morrell-Parker, Director, MRD Inventory Management Limited and Mit-zian Turner, General Manager of Micro Credit Limited.

Sandra Glasgow and Deanna McFarlane made presentations on behalf of the Jamaican partners on progress of the initiative in Jamaica. Debbie Morell-Parker and Wayne Stanbury also made presentations on their perspectives of the programme as SMEs and the support they would require in the future.

PSOJ COLLABORATES WITH MONASCHOOL OF BUSINESS TO HOST RISK MANAGEMENT WORKSHOP The Mona School of Business (MSB), in collaboration with the International Finance Corporation (IFC), the Jamaica Stock Exchange ( JSE) and the Private Sector Organisation of Jamaica (PSOJ), coordinated a two-day workshop entitled Risk Management and the Board of Directors, held at the Terra Nova All Suite Hotel on March 30 and 31.

The workshop aimed to equip the managers in atten-dance with information about risk management and strategies to incorporate into their business practices.During her remarks in the opening ceremony, Auditor General Pamela Monroe Ellis, noted that not enough at-tention is paid to risk management in many businesses, despite it being a critical component of corporate gov-ernance. She shared the Auditor General’s Department experience of having to learn about risk management last year while implementing its own framework as part of a strategic business plan.

BRAZIL BECKONS JAMAICAN INVESTORS Brazilian ambassador Antonio Francisco Da Costa E Silva Neto is advocat-ing a stronger bond between his country and Jamaica. Coincidentally, Brazil was one of the first countries to forge diplomatic ties with newly indepen-dent Jamaica in October 1962.

Speaking at the Private Sector Organisation of Jamaica’s (PSOJ) Trade Pol-icy Committee breakfast meeting on April 3, Silva revealed that in 2011, Brazilian exports to Jamaica totalled US$174 million, a growth of 40 per cent over figures for 2010. Conversely, Jamaican exports to Brazil fetched a mere US$1.24 million. He highlighted waiting opportunities in biofuel pro-duction, tourism and sports marketing, as the country prepares for the World Cup in 2014 and the Olympics in 2016.

Silva acknowledged that the lack of a clear-cut route between the countries and divergent visa requirements have hampered travelling, but expressed hope that the upcoming establishment of a Jamaican diplomatic mission in Brazil will help expedite change. The mission will be headed by ambassa-dor-designate, Alison Stone Roofe.

Chairman of the PSOJ Trade Policy Committee Earl Jarrett and PSOJ CEO Sandra Glasgow talk with Brazilian ambassador Antonio Francisco

Da Costa E Silva Neto after his presentation at the Committee breakfast meeting.

L-R: The Jamaican delegation: Sandra Glasgow, CEO, PSOJ; Deanna McFarlane, Trainer; Mitzian Turner, GM, Micro Credit Limited; Debbie Morrell-Parker, Director, MRD Inven-tory Management Limited and Wayne Stanbury, Managing Director, Berry-Don Financial

Services Limited.

Professor Oliviero Roggi, Visiting Associate Professor of Finance of New York University (NYU) and Assistant Professor of Finance at

the University of Florence speaking with attendees at the MSB/JSE/PSOJ Risk Management Workshop.

EARL JARRETT IS MANAGER OF THE YEARPSOJ Honourary Secretary, Earl Jarrett, who is the General Man-ager of the Jamaica National Building Society Group, was named the Jamaica Institute of Management ( JIM)/Gleaner Manager of the Year for 2011. He was selected from a distinguished group of eight nominees. Jarrett received the award from his fellow PSOJ Council Member Christopher Barnes, Managing Director of The Gleaner Company Limited, at a ceremony held at King’s House on March 29.

In 2007, JIM revived its annual Manager of the Year Award and partnered with The Gleaner Company. The objective is to recog-nise persons who inspire others to aim for excellence as a result of their management skills, leadership qualities and mentorship of others.

In his acceptance speech, Jarrett expressed his appreciation for the prestigious award and said it would encourage him “to con-tinue to read, continue to observe and to apply the best manage-ment principles” in his own organisation. He noted that Jamaica “possessed the management capabilities to put the country on a competitive level with existing global pacesetters.” Jarrett went on to suggest that the country would do “better as a nation” and be transformed if we should turn to and adopt the principles of management.

In addition to being the dynamic leader of the Jamaica National Building Society, which has operations in Jamaica (34 locations), the United Kingdom, Canada, the US and the Cayman Islands, Jar-rett serves on several executive boards, including the Private Sec-tor Organisation of Jamaica, the International Union for Housing Finance, the Inter-American Dialogue Financial Services, the Ca-ribbean Association of Housing Finance Institutions, the Environ-mental Foundation of Jamaica Endowment Fund and the Jamaica Cancer Society.

TRIBUTE TO RICHARD FONTAINEThe insurance sector in Jamaica and the wider Caribbean lost one of its stalwarts recently with the passing of Mr G Richard Fontaine, Chairman and President of Fraser, Fontaine and Kong Limited (FFK) and President of Belize Insurance Centre. He died on April 11, 2012.

Mr Fontaine dedicated approximately 50 years of his life to the insurance sector, a solid testimony to his belief in and commit-ment to this industry. In 1967, he started his own firm, Fontaine Brokers Insurance and Finance Jamaica Limited and in 1972, along with two of his associates ‘Laddie’ Kong and Jackie Fraser, es-tablished Fraser, Fontaine and Kong Limited. Under his leader-ship, which he assumed in 1977, FFK has experienced significant growth and has been able to maintain its market strength, despite many challenges.

Guided by the philosophy “honesty is the best policy”, Mr Fon-taine earned himself a reputation of being sincere and demon-strated high integrity while ensuring that the company remained sensitive to the needs of its growing clientele and delivered qual-ity, e"cient and professional service.

In addition to providing sound leadership at FFK, Mr Fontaine served as Chairman of the Prices Commission for eight years, was an executive of the Insurance Association of the Caribbean from 1974 and was a founding member and past president of the Jamaica Insurance Brokers Association. He was also involved in a number of other committees and organisations, including being a longstanding member of The Private Sector Organisation of Jamaica.

The PSOJ salutes Mr Richard Fontaine for his significant contribu-tion to the growth and development of the insurance sector, both locally and regionally, and consequently to the Jamaican economy.

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The late G Richard Fontaine

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Christopher Barnes (left), Managing Director of The Gleaner Company congratu-lates Earl Jarrett, General Manager, Jamaica National Building Society, on his vic-tory, while Dr Alfred Sangster, Chairman of the Jamaica Institute of Management

( JIM), displays the JIM/Gleaner Manager of the Year for 2011 award.

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STANDING COMMITTEE ON NATIONAL SECURITY (SCNS)The Committee meeting scheduled for March 20 was not held since members were invited to the PSOJ Chairman’s Club Forum at which the Minister of National Security, Hon Peter Bunting, was the guest speaker. This was held on Tuesday, March 20 at the Jamaica Pegasus Hotel. In addition, the committee met with Min-ister of Justice, Mark Golding on March 1 at the PSOJ Secretariat and Minister of National Security, Peter Bunting on March 13 at his o"ce.

Carreras Ltd has been approached to sponsor the security-relat-ed meeting being planned for Clarendon. The secretariat is await-ing a response.

JUSTICE REFORM COMMITTEEThere was no meeting in March. However, the work of its sub-committee, the Insolvency Review Committee has concluded. In January 2010, the PSOJ had published its economic policy frame-work for Jamaica. Under the rubric “creating an enabling legal and regulatory environment”, the PSOJ expressed the view that Jamaica must implement comprehensive regulatory and bureau-cratic process reform, to include, inter alia, amending the current Bankruptcy Act. Meetings of the committee have been held gen-erally at the o"ces of the PSOJ and the committee relied sub-stantially on the secretarial and other resources provided by the organisation.

The members of the committee are:

Michael Hylton, OJ, QC, Chair - Michael Hylton & AssociatesSandra Glasgow - CEO, the PSOJMaurice Bailey - Legal Reform DepartmentCelia Barclay - O"ce of the Trustee in BankruptcyDave Garcia - National Commercial Bank Jamaica Ltd.Peter Goldson - Myers, Fletcher & GordonEulalie Greenaway - Norman Manley Law SchoolJohn Lee - PricewaterhouseCoopersAntoinette McKain - Jamaica Deposit Insurance CorporationJanet Morrison - Chair, Justice Reform Committee and DunnCoxJudith Ramlogan - Companies O"ce of JamaicaHilary Reid - Chairman, Commercial Sub-Committee, JamaicaBar Association and Myers, Fletcher & Gordon Stacey-Ann Soltau-Robinson - Attorney General’s ChambersYvette Sutherland-Reid - Ministry of Industry, Investment and Commerce

A copy of the report of the Insolvency Review Committee will shortly be posted on the PSOJ’s website.

EDUCATION AND CSR COMMITTEEThe PSOJ Education and CSR Committee met on Friday, March 9. Discussions at the meeting focused on the following:

1. DRAFT POLICY PAPERSandra Glasgow led the review of the updated draft Education Position Paper. The document was subsequently accepted by the committee, which recommended that it be sent to the Executive Committee and Council for approval and ratification. The Posi-tion Paper was approved and is now posted on the PSOJ’s web-site www.psoj.org

A meeting would be arranged for the Committee to discuss the approved policy document with the Minister of the Education.

2. TVET WORKSHOPPatricia Sutherland and Peggy Bleyburg agreed to represent the committee at the National Consultative Review of 1990 CARI-COM TVET Strategy Workshop on Wednesday March 14 at the Wyndham Hotel.

3. SAFE SCHOOLS COMMITTEEPatricia Sutherland was named as the PSOJ’s representative on the Safe Schools Committee.

4. CXC NATIONAL COMMITTEESutherland, the PSOJ’s representative on the CXC Committee, stated that the CXC was exploring the possibility of introducing new subjects at the CAPE level within the next two years, includ-ing:

Performing ArtsTourism SportsAgricultural Science

Entrepreneurship - This course would cover, among other topics, the development of a business plan, the regulation of a business and how to make the business attractive for investors.

Discussions were also being held regarding the possibility of intro-ducing a Caribbean examination at the grade six level as well as an oral component to English Language at the CSEC level.

newsFrom the CEO’s Report

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MEMBERSHIP COMMITTEEThe committee has been planning a PSOJ/Gleaner programme in honour of Jamaica 50th independence – ‘Fifty Under Fifty Business Leaders Shaping Jamaica’s Future’ during the month. There were ongoing discussions with potential sponsors and the selection process has commenced.

The third in the 2012 series of Mentorship of Emerging Entre-preneurial Leaders dinners was held on March 15 at the Span-ish Court Hotel. Guest mentor was R Danny Williams.

TRADE POLICY COMMITTEE (TPC)US ETHANOL TARIFFJamaica Broilers Group is lobbying the US to extend its tari! incentive on ethanol. A tari! of 54 US cents per gallon of ethanol for non-CBI coun-tries expired at the beginning of 2012, removing the price advantage enjoyed by Jamaica over countries such as Brazil, threatening further Brazilian investment in the ethanol sector in Jamaica, which was a way of bypassing the tari!. A vote on a bill to reinstate the tari! should take place by mid-year, and the decision could prove critical to development of the incentive. Jamaica’s export of ethanol rose from US$44.8 million in 2006 to US$170.3 million in 2009 before falling to US$48.1 million in 2010. US-JAMAICA TRADE RELATIONSTrade o"cials from Jamaica and the US met in March to dis-cuss the Caribbean Basin Initiative. The view was that the CBI

was underutilised and that the Jamaican private sector did not appear to be aware of the CBI and its benefits. According to surveys done by US o"cials, the Jamaican private sector knows little about the CBI, including persons exporting to the USA.

Under the CBI arrangement, the Caribbean Basin Economic Recovery Act (CBERA) and the Caribbean Basin Trade Part-nership Act (CBPTA) give duty free access to the US market. In the case of CBERA, this is for an unlimited period, for nearly all goods exported from Jamaica or which potentially can be exported. The CBPTA is time bound and will expire in 2020.

The 34th Meeting of the CARICOM Council for Trade and Economic Development (COTED) opened in Georgetown, Guyana, on March 30

The meeting examined recommendations to ease the e!ects of the rising cost of fuel and commodities on the region’s econo-mies, regional consumer protection and the recommendations from the report on the full integration of Belize and the OECS into the CARICOM Single Market and Economy (CSME).

With respect to external economic trade relations, the meet-ing looked at the CARICOM-Canada Trade Agreement, and the implementation of the Economic Partnership Agreement (EPA). Ministers also considered preparations for re-engaging the Dominican Republic on the implementation of the CAR-ICOM-DR Free Trade Agreement, as well as re-engagement with the United States in the CARICOM-US Trade and Invest-ment Council (TIC). Discussions also touched on trade matters with other countries including China, Costa Rica and Panama.

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CARIFORUM AND EU SIGN FINANCIAL AGREE-MENTSIn March, CARIFORUM and the European Commission signed three financial agreements designed to boost the regional integra-tion process.

Under the agreements, €8.6 million will be used to provide sup-port for, among other things, the economic integration and trade of the nine-member Organisation of Eastern Caribbean States (OECS); the further development of the CARICOM Single Mar-ket and Economy (CSME), with special allocations for Belize and Haiti, and CARIFORUM’s implementation of commitments un-der the Economic Partnership Agreement ((EPA).

Another €28 million will be used to lend support under the CSME programme to develop government procurement, labour market information systems and e-commerce; to emphasise transferring social security benefits and building capacity in statistics and to support Belize and Haiti to be better placed to take advantage of the CSME, as well as to assist other CARICOM member states to bridge the implementation gap.

The third agreement provides €46.5 million to boost CARIFO-RUM’s capacity to take full advantage of the provisions of the EPA and to honour its commitments therein. The programme provides support for fiscal reform and adjustment, sanitary and phyto-sanitary measures, services, the rum sector and removing technical barriers to trade.

Funds for the three programmes will be drawn from the €165 million regional programme of the European Development Fund.

PROJECTSCADRCThe terms of reference for a marketing and public relations pro-gramme was sent to six firms and four responded. On March 2, an evaluation panel met and evaluated proposals from Prism Com-munications, CGR Communications, Prana and Dunlop Corbin Communications (DCC). The committee shortlisted DCC and CGR and requested due diligence in order to make a final selec-tion. Although on points CGR came out ahead, it was recom-mended that the contract be awarded to DCC on the strength of their creative output. The candidates were advised of the com-mittee’s decision. A meeting was held with DCC on March 23 to discuss the budget and the revised terms of reference.

A pre-arbitration hearing was held on March 5 for an arbitration matter between two local firms. The hearings are to be held on July 9, 10 and 11.

Two mediations scheduled for March were not held as the parties appeared not ready to proceed. One workshop and two book-ings were held.

During the period, one briefing session was held with lawyers. Two sensitisation sessions were held at the Altamont court Hotel on March 20 and 21 with 32 participants.

Preparations were made for the installation of the video confer-ence equipment. The DIA line was also installed and tested.

A special board meeting of the Jamaican Institute of Arbitrators, the entity established to operate the CADRC, was held on March 26. The main business was to discuss the JIA’s repayment of the PSOJ’s investment in the project. The cash flow projections pre-sented did not indicate that the centre would be financially viable to 2013. The outcome of the meeting was the termination of the lease for the premises at Knutsford Boulevard and the ter-mination of the Project Manager’s contract. The Centre will now operate “virtually” from the o"ces of the PSOJ.

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YUTEThe YUTE programme was initiated in November 2010, and tar-geted eight communities in Kingston and St Andrew. A total of 505 young persons were engaged in YUTE programme activities as participants of the first cohort (March 2011 – December 2011); of that number, 459 young persons across those eight communi-ties were actively engaged in the programme.

With the recruitment of the second cohort of participants, which started in January 2012, the geographic scope of the programme has broadened to include 10 new communities.

In addition to engaging with 505 young persons in cohort one, the YUTE programme also provided support to 324 young persons who were involved in a one-year intervention in the OBRA Proj-ect, a youth employability programme funded by USAID.

EU BANANA SUPPORT PROGRAMME – ST JAMES YOUTH TRAINING AND JOB PLACEMENT PROJECTThe first batch of 23 trainees completed training at Global Gate-way at the end of March.

An agreement to rent computers from the Maldon Baptist Church at the Maldon Training Facility was finalised and works at this facil-ity were also completed by the end of March.

An agreement is being finalised to begin repairs at the Cambridge facility.

Requests for proposals to supply and install computer equipment were received from Tech-Pro Business Solutions, Global Gateway Solutions, Prodigy Systems and Tactical Radio.

EU-PROINVEST PROJECT: CAPACITY BUILDING OF CARIBBEAN PRIVATE SECTOR ENVIRONMENTAL AND ENERGY MANAGEMENT CAPABILITIESA final payment of €19,000 was received. CDB PROJECT: IMPROVING CARICOM MARKET ACCESS FOR JAMAICAN GOODS AND SERVICESTrevor Hamilton and Associates submitted a revised report as re-quested by the CDB. However, there were still gaps in this report and he was requested to include an analysis of the impact of the CET on the Jamaican economy and a plan for a trade mission to Trinidad and Barbados.

Mendel Verlag: Market access research for goods and services for a regional trade database in final stages of completion and proto-type developed.Business Bridges: Successful workshop with 23 persons held on March 6 and 7. Final report submitted.

Kisserup: Workshop design submitted. Training manuals are in the process of being prepared.

MARKETING AND PUBLIC RELATIONS DEPARTMENTMembership packages were sent to:Richmond Jamaica Marian Ross Professional Training and Occupational Services Brandz Avenue (resent) Neesh Traders Caribbean Assurance Brokers Ltd Cool Oasis Ltd The Business District Jamaica Computer Society Credit Info Jamaica

There was one new member: Susan Fox – Individual Member

The following 11 members were inducted at the PSOJ’s Chair-man’s Club Forum held on March 20 at the Jamaica Pegasus Hotel:Nexus Hospitality  Caribbean Fortress L. Howard Facey and Co Streamline Solutions Jamaica Ltd 876 Technology Solutions – Trevor Forrest Konnexx Services Ltd  PRO Communications Ltd Advanced Integrated Systems Ltd The Business Lab eMedia Interactive LtdSusan Fox advertisment

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