$22 million to promote investment in Jamaica

KINGSTON — The Government, in its efforts to boost investment and job creation, has allocated some $22 million to the Promotion of Foreign Direct Investment in Jamaica project.

The provision is made in the 2011/12 Estimates of Expenditure, currently before the House of Representatives.

The main objectives of the project, which is being implemented through Jamaica Promotions Corporation (JAMPRO) are: to create a strategic framework for investment promotion; and carry out activities aimed at attracting potential investors to Jamaica.

The project is expected to be completed in March 2012, having started in April 2011.

It is being funded by the Government of Jamaica and the Inter-American Development (IDB).

By CHRIS PATTERSON, JIS Reporter