The nutraceutical industry: Let’s ‘run wid it’
In recent weeks we have urged the Government to be bold and engage in expansive thinking to generate the kind of growth in the economy that would justify the sacrifices made over the past four years.
Based on information available to us, and on our own observation, the Administration appears to be on that path, and it is our hope that it will. As we encouraged recently, step on the gas because this country desperately needs to see a significant economic turnaround.
Even as the Government concentrates on attracting investments — both local and from overseas — there is one area that we hope it will give much attention, especially given that this industry holds the potential to earn Jamaica billions of dollars.
We are speaking of the nutraceutical industry, which, we are told by credible analysts, is valued at approximately US$600 billion.
This industry, those analysts state further, has a growth trajectory of six to eight per cent. In fact, its cumulative average growth rate is said to be the fastest in the health industry and is among the fastest of all industries worldwide.
Jamaica, we are told, has approximately 50 per cent of the just over 180 plants declared by the World Health Organisation to have medicinal benefits. Read more
Source: Jamaica Observer