Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw says under his watch, the Coconut Industry Board will sell some of its shares in Seprod to invest in planting coconut trees across Jamaica.
According to Mr Shaw, the Coconut Industry Board owns 25% shares in Seprod, valued at $10-billion. He says this money could be used to plant coconut trees on idle lands across the country.
The event, organized by the Jamaica Manufacturers and Exporters Association, is taking place at the Montego Bay Convention Centre. Some 300 buyers and suppliers are attending the multi-sectoral trade show that runs over three days.
Minister Shaw credited the late former Prime Minister Edward Seaga for positive economic growth in the 1970s. Mr Seaga passed away on Tuesday.
Mr Shaw blames negative growth in the economy on what he says was the People’s National Party’s experiment with socialism.