Environment Stable for Investments – Prime Minister

As the economy continues to experience consistent growth, Prime Minister, the Most Hon. Andrew Holness, is assuring developers that the environment is stable for investments.

Delivering the keynote address at the ceremony to break ground for Sagicor’s $8-billion Portmore Promenade in the Greater Benard Lodge area of St. Catherine, on February 7, the Prime Minister said it is the kind of development that will result in improved services for communities, coupled with improved productivity.

“I commend Sagicor for believing in Jamaica,” Mr. Holness said, noting that the financial group has several development projects on the island.
He said that developers can be assured “that the Government’s policy and Administration are stable and you should have the confidence to make even more investments”.

The Prime Minister pointed out that the Greater Benard Lodge development project, where the Portmore Promenade will be located, resulted from a “master plan” undertaken by the Government.

“Because there is a plan, it has increased the level of interest, and the calibre of development that is being attracted to the area,” he said.

The Portmore Promenade comprises a commercial space, which will span approximately 300,000 square feet, and is poised to be one of the driving forces for sustainability and economic growth.

It was designed with a sustainable approach, incorporating a central park with a network of green spaces, playful urban spaces, commercial activities such as a one-stop-shop offering a range of goods and services to be powered by solar energy, and will include rainwater harvesting.

Under the National Investment Policy (NIP), published in 2022, Jamaica is seeking to unleash its economic potential with investment efforts that make the country responsive and able to capitalise on opportunities as they arise.

The NIP also seeks to position the island for more growth and opportunity for each investor in Jamaica, both local and overseas.