JIS News

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, said the Government is actively pursuing investments in a number of critical areas as it looks to grow the economy.

He said that several multi-billion dollar projects are underway, and others are slated to come on stream, which are expected to spur economic activity.

Dr. Phillips was speaking on Tuesday, June 18, during a session at the 5th Biennial Jamaica Diaspora Conference, at the Montego Bay Convention Centre, to examine the various channels through which persons in Jamaica and the Diaspora can work in partnership to obtain financing for their business ventures.

Among the areas, which he said, are ripe for investment, are the Logistics Hub Initiative; planned divestment of the management of the Kingston Container Terminal and improvements to the port infrastructure; and the Information Communication Technology (ICT), agriculture, tourism and energy sectors.

“We also have a series of important infrastructural projects on the way, with approximately US$1 billion committed to improve our road network, including US$620 million for the North South highway link,” he informed.

Dr. Phillips said the Government is also placing focus on the development of Micro, Small and Medium Enterprises (MSMEs).

“It is our intention to really provide, not only the resources but the technical guidance that will facilitate these businesses coming onto the playing field, but even more so, becoming legitimate viable players in the industry,” he stated.

Inviting the Diaspora to invest in the country, he said the Government is creating a business-friendly environment, and is committed to proper fiscal management.

Other presenters at the session included: General Manager of the Jamaica Stock Exchange, Marlene Street Forrest; and Consultant, Development Bank of Jamaica (DBJ), Audrey Richards.

Contact: Bryan Miller

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