By Caribbean Medical News Staff
Delivering the keynote address at the launch of the National Nutraceutical Industry, Prime Minister Portia Simpson Miller said that Jamaica is on the brink of gaining a significant share of the quickly emerging global nutraceutical industry, which is estimated at US$270 billion.
“Thousands of new jobs can be created through mass cultivation and employment in labs and processing plants. There is the potential for increased revenue from greater earning power of new workers and there will be more foreign exchange through greater exports and the development of medical tourism. I am a firm supporter of the nutraceutrical industry in Jamaica. My firm belief in, and unshakable support for this industry, is anchored in the view that it has the potential to transform the fortunes of our economy and society,” said PM Simpson Miller.
She emphasised that the recent drive to develop the local nutraceutical sector would yield significant economic benefits for the country. The international nutraceutical industry is considered to be one of the fastest growing sectors globally and with the Asian markets involved, the industry is projected to be worth around US$600 billion by 2018.
“Sitting on a gold mine,” were some of the words used by the PM to describe what the nutraceutical industry means to the country economically. She said that of the 160 plants declared as having medicinal properties worldwide, over 80 of them are common to Jamaica, which will form an integral part of a national strategic approach for ensuring economic growth, development, and job creation. She declared that the National Commission on Science and Technology has been given the duty of regulating and developing a sustainable nutraceutical industry in Jamaica.
“Today’s launch heralds the start of a system to encourage, regulate and monitor production locations, processes, and products to ensure that they meet national and international standards. We want to move from the production of samples, to large scale operations,” stated PM Miller.
The Prime Minister further called for more Jamaicans to invest and participate in the emerging sector. The PM also stated that the government is working to include all stakeholders and that a memorandum of understanding (MoU) will be signed with the Jamaica 4-H Clubs to involve some 8,500 youth in the sector.
“The partnership in its initial stage will focus on the establishment of green houses and gardens and strengthening 4-H programmes within some institutions,” she concluded.
