Gov’t Allocates Funds for FDI Promotion

In a continued bid to promote private sector productive investment and job creation in Jamaica, the government has set aside $1.04 million for the Promotion of Foreign Direct Investment in Jamaica.

This is set out in the 2012/2013 Estimates of Expenditure, currently before the House of Representatives.

With funding support from the Inter-American Development Bank (IDB), the project aims to create a strategic framework for investment promotion and to carry out activities for introducing potential investors to Jamaica.

The programme, which is being implemented by the Jamaica Promotions Corporation (JAMPRO), got underway in April 2011 and was scheduled to end in June 2012, but has been extended.

As of March 2012, the project has succeeded in the hosting of a major investors forum, highlighting major areas of possible investments in Jamaica.

It is expected that during 2012/2013, a final evaluation and audit of the project will be conducted.

By Athaliah Reynolds-Baker, JIS Reporter