2009-02-13

Jamaican Ministers Seek UK Investments

Declaring   that, “we are here because we mean business”, three senior Jamaican Government Ministers told the first Jamaica United Kingdom Investment Forum on February 5 that, despite the international economic downturns, now was the right time to invest in Jamaica.

The three Ministers were - Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, Dr. Kenneth  Baugh; Minister of Industry, Investment and Commerce, Karl Samuda; and Minister without portfolio in the Ministry of Finance,  Don Wehby.

Minister Samuda said that this was the time to be bold in taking steps that would build the foundation for a strong and economically prosperous future. “We are ready to seize the moment. We are aggressively pursuing new approaches. We are building new partnerships and strengthening existing ones. We want to build 'win win' relationships,” he said.

Dr. Baugh said, although the world faces the most serious crisis in modern history, the solution resided in partnerships with other countries, as well as with the private sector and investors.

He said Jamaica was aggressively positioning itself as a place to do business. He added that the recent signing of the CARIFORUM-EU Economic Partnership Agreement (EPA), provided opportunities for European investors in Jamaica, including using Jamaica as a launch pad into the rest of the Caribbean, Latin and North America.

Senator Wehby spoke of Jamaica’s many competitive advantages, including plans for comprehensive tax reforms, increased public sector productivity and increased growth. In addition he said, Jamaica also had an independent central bank and was committed to diminishing bureaucracy and red tape.

The Forum held in Westminster London, England, looked at topics such as: the EPA; Investing in Jamaica; and Jamaica’s Improving Economy. There were also presentations from successful l investors in Jamaica, including Grace Kennedy, Digicel and Blue Mountain Coffee (Europe) Limited.