Jamaica is set to launch its re-imagined outsourcing proposition to hundreds of entrepreneurs, business leaders and executives from multinational corporations, global startups and trade promotion organizations when the country hosts the upcoming Outsource to Latin America and the Caribbean Global Digital Services Summit (O2LAC) from June 14 -15 in Montego Bay.
Jamaica will be the first English-speaking nation from the Latin America and Caribbean bloc to host this Summit, which will be its ninth edition. O2LAC was created by the Inter-American Development Bank’s Integration and Trade Sector with the goal of unleashing the region’s full potential in the global digital services sector. Business leaders will learn about breakthroughs in emerging technologies such as AI. They will discover advanced capabilities in strategic Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), and Information Technology Outsourcing (ITO), as well as identify new business opportunities through B2B and B2G matchmaking events.
As Minister of Industry, Investment and Commerce, Senator the Honourable, Aubyn Hill, explains that “O2LAC presents a prime opportunity for the Government of Jamaica and its partners to introduce Jamaica’s re-energized global digital services sector offerings to the largest gathering of prospective services buyers and suppliers in the region. We have been working hard to enhance and elevate Jamaica’s product offerings and the launch of our new Global Campaign at O2LAC will communicate our unique value proposition, and cement our brand in the minds of executives, entrepreneurs and experts as the superior option for global businesses seeking to upscale their outsourcing goals and growth results.
Jamaica is already a mature Outsourcing location and home to companies such as Conduent, Itel, Sutherland Global, Sagility, Startek and IBEX. Most of these companies provide services to some of the top Fortune 50 businesses. With over 85 companies currently in operation and annual revenue close to US$ 1 billion, while employing over 60,000 people, the country has the largest Outsourcing Sector in the Caribbean. Special Economic Zone incentives allow for duty concessions and reduced corporate income taxes, and continuous investments in telecoms and electricity infrastructure ensure stable power and broadband capabilities that make Jamaica a destination of choice.
The new National Investment Policy includes a raft of economic policies, initiatives and support measures designed to make it easier to establish businesses in the country. The continual efforts of Jamaica’s Global Digital Services Sector (GDSS) Project to enhance training, certification and create new job opportunities within the sector, will re-energize the Jamaican market to welcome a new cadre of Fortune 1000 companies.
President of Jamaica Promotion Corporation (JAMPRO), Shullette Cox, says, “What we will be discussing at O2LAC will be vital to ensuring that business leaders understand how they can harness the full potential of Jamaica’s expanding global digital services sector. We will specifically demonstrate how Jamaica’s offerings can be tailored to solve any concerns in the global digital services sector. For instance, in the area of skills training, we are continuously enhancing our capabilities. Through the GDSS Project we are creating training, apprenticeship, internship, certification and train-the-trainer programmes. When these are coupled with the GDSS Talent Hub and Career Pathway Framework, we will be able to consistently connect thousands of talented Jamaicans with the specialised training which will enable them to work in the sector. The campaign launch will enable far greater understanding of how best to access and synergise the very best outsourcing services that Jamaica has to offer.”
O2LAC is expected to attract up to 600 local, regional and international attendees. Event speakers include: Minister of Industry, Investment and Commerce, Senator the Honourable, Aubyn Hill; Manager, Integration and Trade Sector, Inter-American Development Bank (IDB), Fabrizio Opertti; Deputy Director of AI for Good Research Lab, Rahul Dodhia; Head of Global Services for Carrier, Steve Rudderham; President of the Global Services Association of Jamaica, Anand Biradar; and several Latin American business leaders along with other representatives from the IDB.
The Global Digital Services Sector is projected to grow to US$1 Trillion by 2025 with business outsourcing in Latin America and the Caribbean accounting for over $10 billion in regional revenues and investment. As the country named the Best Caribbean Nation for Doing Business by Forbes (2019), Jamaica is aiming to build on its impressive performance in the industry to catapult its way to being the premier Outsourcing destination in Latin America and the Caribbean.
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