JMMB’s Juan Jose Melo Heads Newly Launched Jamaica Chamber of Commerce in the Dominican Republic

The Chamber of Commerce of Jamaica in the Dominican Republic (JAMCHAMDR), which was launched earlier this month, seeks to strengthen the ties between Jamaica and its Spanish-speaking neighbour to the east, the Dominican Republic. Juan Jose Melo Pimentel, JMMB Group’s chief country officer, in the Dominican Republic, has been named president of this newly formed Chamber. 

The organization seeks to promote and facilitate bilateral commercial, economic and political relations between Jamaica and the Dominican Republic, in addition to encouraging intercultural experiences. The Chamber will also manage the identification of economic sectors and business opportunities between the two islands. 

Juan Melo is a finance executive with 16 years of experience in the Dominican financial market, specializing in banking and investments, complemented by his expertise in company valuation, mergers, acquisitions, real estate, company restructuring, business plans and performance measurement in various segments. He joined the JMMB team in 2009, as director of investment banking for JMMB. 

Melo, played a pivotal role in the formation of the Chamber alongside the Ambassador of the Dominican Republic in Jamaica, Her Excellency Angie Martinez. During his address at the event he said, “The launch of this initiative is a source of great pride for us, (as this is) one more example that the joint work of the private sector and the government can generate excellent results.” Adding that the Chamber will provide another avenue to revitalize and strengthen the ties between the two countries for mutual benefit. “There are several growth opportunities for both countries (that) is not limited to exports of goods and services, there are also great opportunities in attracting direct investment, and proof of this is that today we have several success stories of companies with Jamaican capital, that provide hundreds of jobs and that have invested …millions of dollars in our country, in the same way several Dominican Republic companies have expanded their operations to Jamaica with millions in investments  (thereby) generating hundreds of direct and indirect jobs in that country.” 

The Chamber’s Board of Directors consists of several business leaders namely: Juan José Melo (president) representative of JMMB Dominican Republic; Benjamín Valdez (vice president) representative of Jamaica Producers Group; José M. Vega (treasurer) representative of Gerdau-Metaldom; José Quiroz (secretary) representative of Quiroz Advisors, QA Legal, S.RL; Fernando González (member) representative Round Table Countries of the Commonwealth in the Dominican Republic; Bela Szabo (vocal) representative of GB Energy Jamaica and Hugo Pérez (member) representative of Therrestra.   

JMMB Group, which is headquartered in Kingston, Jamaica, stands as an example of a Jamaican company that has established itself in the Dominican Republic. Since starting operations in 2007, in the Dominican Republic, the JMMB Group now operates a savings and loans bank (JMMB Bank – Banco de Ahorro y Crédito, S.A.); a securities dealership (JMMB Puesto de Bolsa); a mutual funds administration entity (JMMB Funds – Sociedad Administradora de Fondos de Inversión, S.A.); and a pension funds administration entity (AFP JMMB BDI, S.A.).

The writing of this new chapter through the establishment of the Chamber is seen as a new beginning to the reactivation of the trade between the Dominican Republic and Jamaica, which has 57 years of diplomatic relations, excellent ties of friendship and a strong commercial relationship, with great potential to increase, consolidate and expand to new horizons.