JIS News

Finance and Planning Minister, Dr. Omar Davies, has invited Canadian businesses to consider investment opportunities in Jamaica.
Minister Davies, who was speaking to members of the Canadian Jamaica Business Council yesterday (Feb. 14) at the Knutsford Court Hotel, indicated that opportunities existed for the Canadian business community to collaborate with the Jamaican government on a range of activities, including foreign direct investments as well as trade.
“I am inviting greater Canadian participation in the investments, which are taking place in Jamaica and the truth is, Canada would, all other things being considered, have a natural advantage in terms of being a participant in this expansion,” he said.
According to the Finance Minister, Jamaica had a totally liberalised foreign exchange system and the laws governing the system were consistent. He said that a number of the island’s existing regulations had in fact, been emulated from Canada. He noted further, that Jamaica had a business-friendly environment.
He told the businessmen that gains “in terms of macro economic stability, the consistency of policy, which has characterised our performance over the past several years, will continue.”
While acknowledging that the support given to Jamaica by the Canadian government in the past has been beneficial, Minister Davies underscored the importance of changing the dynamic of future support from aid financing to investment, in light of the island now being considered a middle income nation.
He told his audience that with the passage of time, “the way in which we cooperate and collaborate must change. We are looking forward to a future whereby we have genuine bilateral cooperation. We want, we welcome, and we will work hard to increase the level of Canadian investment in the Jamaican economy.”

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