Jamaica Invites Investment By Indian Pharmaceutical Companies
By: , May 16, 2022
Photo: Donald De La Haye
Prime Minister, the Most Hon Andrew Holness (right), introduces President of the Republic of India, His Excellency Hon Ram Nath Kovind (second right), to Cabinet Ministers, during a courtesy call at the Office of the Prime Minister on Monday (May 16). From left are Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill; Minister of Legal and Constitutional Affairs, Hon. Marlene Malahoo Forte; and Minister of Local Government and Rural Development, Hon. Desmond McKenzie.
Photo: Yhomo Hutchinson
Prime Minister, the Most Hon. Andrew Holness (right), greets President of the Republic of India, His Excellency Hon Ram Nath Kovind, as the President arrives at the Office of the Prime Minister on Monday (May 16) for a courtesy call.The Full Story
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, is inviting investment by Indian companies, particularly those involved in pharmaceuticals, in the Caymanas Special Economic Zone (CSEZ) in St. Catherine.
Speaking with JIS News, the Minister said the approximately 1,000-acre campus, which will be developed under the Jamaica Special Economic Zone Authority (JSEZA regime, is an opportunity to further strengthen the commercial collaboration between Jamaica and India.
“I am inviting Indian pharmaceutical companies [and] Indian investors to come to Jamaica and invest in our logistics centre at Caymanas and to make sure that collaboration between Jamaica and India will strengthen commercially,” he said.
The Minister noted that due to the coronavirus (COVID-19) pandemic and the Russia-Ukraine war, “long supply chains from… Russia to Egypt are now problematic”.
He pointed out that “Jamaica is ideally situated next to the largest economy in the world (United States of America) and Canada is right there and then we have Latin America and the Caribbean”.
He noted that with the changing times, “we have to look for new trading partners”.
“India is an excellent [trading partner] with a legal system that we know and with a collaboration that we’ve had for a long time,” he added.
Minister Hill was part of the Jamaican delegation at the Office of the Prime Minister for Monday’s (May 16) courtesy call on Prime Minister, the Most Hon. Andrew Holness, by President of the Republic of India, His Excellency Hon. Ram Nath Kovind.
The courtesy call formed part of a four-day State visit to the island by the Indian President that began on Sunday (May 15).
The meeting included the signing of a Memorandum of Understanding (MOU), which will provide for training through Jamaica’s Foreign Service Institute.
Other members of the Jamaican delegation for the courtesy call and the signing ceremony included Minister of Foreign Affairs and Foreign Trade, Senator the Hon. Kamina Johnson Smith; Minister of Legal and Constitutional Affairs, Hon. Marlene Malahoo Forte; Minister of Local Government and Rural Development, Hon. Desmond McKenzie; Minister without Portfolio, Ministry of Economic Growth and Job Creation, Senator the Hon. Matthew Samuda; Minister without Portfolio, Office of the Prime Minister, Hon. Floyd Green; High Commissioner for Jamaica to the Republic of India, Jason Hall.
President Kovind’s visit to Jamaica is a first for an Indian President over the 60 years of relations between the two countries.
He is scheduled to depart the island on Wednesday, May 18.