NEW YORK – Honorable Audley Shaw, Jamaica’s Minister of Finance and Public Service and The Honorable Christopher Tufton, Minister of Industry, Investment and Commerce, have completed a two-day mission in New York to encourage foreign direct investment in Jamaica on September 28. The ministers held one-on-one meetings with financial institutions and business leaders, and hosted an investment forum at Bloomberg to highlight investment opportunities with over 100 private and institutional investors.
Jamaica, currently the third highest recipient of foreign direct investment in the Caribbean, is well positioned for significant growth in hospitality, renewable energy, manufacturing, agriculture, and Information and Communications (ICT) sector.
In speaking to the audience of prospective U.S. investors, Minister Tufton emphasized that “Jamaica’s brand is strong and the country is open for business, despite the recent political developments that will likely see a new Prime Minister in the near future.” He elaborated by saying that Jamaica is a democratic country and periodic and peaceful transition of leadership is to be expected.
He went on to state that he also wanted to send a strong signal to the investment community that “the Government’s commitment to maintaining and enhancing an investor-friendly climate is sacrosanct and we welcome investors to take advantage of the many opportunities that are available in Jamaica.”
Minister Tufton’s sentiments were echoed by Minister Shaw who stressed that the Government is steadfast in its commitment to its fiscal responsibility program, reforms, and its continued cooperation with multilateral partners such as the World Bank and the International Development Bank to name a few. “We are on the right track,” the Minister stated, “and we want to reassure all of our stakeholders that we will continue on the path towards economic stability and growth.”