Jamaica Seeking to Woo More American Investors

Story Highlights

  • Prime Minister, the Most Hon. Andrew Holness, says the Government is seeking to attract increased investments from the United States (US) as it looks to achieve higher levels of economic growth.
  • Mr. Holness noted that Jamaica is an attractive location for business, situated within the international shipping lanes, which makes the island ideal for investments in logistics and shipping.
  • Mr. Holness also participated in the Clinton Global Initiative’s annual meeting; delivered the keynote address at a Columbia University symposium; engaged the Jamaican Diaspora at a town hall meeting; and held bilateral discussions with various business and other leaders to explore new opportunities to advance Jamaica’s development.

Prime Minister, the Most Hon. Andrew Holness, says the Government is seeking to attract increased investments from the United States (US) as it looks to achieve higher levels of economic growth.

He informed that work is being done to make Jamaica’s business environment more attractive for US business interests with reforms being undertaken to improve public sector efficiency, and to ensure that local laws are more aligned to the needs of American investors.

He was speaking during an interview on Bloomberg television in New York on Thursday, September 22.

Mr. Holness noted that Jamaica is an attractive location for business, situated within the international shipping lanes, which makes the island ideal for investments in logistics and shipping.

He further said that the island’s close proximity to the US presents the opportunity for the country to provide numerous services that support American industry and businesses.

The Prime Minister also cited opportunities in tourism and mining, which he said the administration would seek to exploit and maximize.

Mr. Holness hailed China as an important development partner through investments in critical projects that support the Government’s economic growth plan.

“They have come on board, they have built a magnificent highway and will be investing in more infrastructures…more highways and, potentially, a port,” he noted.

Mr. Holness emphasized that the Government has been “very clear” in advising the Chinese counterparts that the administration’s mandate is to achieve inclusive growth which benefits Jamaicans.

“So (while) we acknowledge that there will have to be some importation of Chinese labour…the majority of the work can…and will be done by Jamaicans,” he pointed out.

Mr. Holness said the Government is making progress in undertaking and instituting other key measures aimed at facilitating increased growth. These, he said, include: reducing debt and enhancing prudent fiscal management.

The Prime Minister’s interview formed part of activities during his week-long visit to New York from September 19 to 24, where he attended the 71st United Nations General Assembly (UNGA).

The Prime Minister addressed the UNGA on September 23 and witnessed the delivery of US President Barack Obama’s eighth and final speech.

Mr. Holness also participated in the Clinton Global Initiative’s annual meeting; delivered the keynote address at a Columbia University symposium; engaged the Jamaican Diaspora at a town hall meeting; and held bilateral discussions with various business and other leaders to explore new opportunities to advance Jamaica’s development.

The Prime Minister is slated to return to Jamaica on Saturday, September 24.

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