JAMPRO Facilitates Caribbean Rim Investment Initiative

Jamaica Promotions Corporation (JAMPRO) is partnering with the Organization for Economic Co-operation and Development (OECD) and the Inter-American Development Bank (IDB) to highlight issues related to foreign direct investment (FDI) in the region.

This will be the focus of discussions at the Caribbean Rim Investment Initiative Conference (CRII) at the Jamaica Conference Centre on March 11, 2003.

JAMPRO’s President, Mrs. Patricia Francis said, “the CRII Conference represents yet another opportunity for Jamaica and the region to engage the international community not only in dialogue, but in actively pursuing reforms to improve the business environment for both local and foreign investment.

This is an important component of the national export competitiveness strategy,” she said.

And, the Ministry of Development, through JAMPRO, has earmarked the CRII as one of its major initiatives to reduce the remaining obstacles, complementing other programmes such as the Jamaica Cluster Competitiveness, the New Economy Project and the Jamaica Regulations and Legislations Process Improvement project.

Jamaica, like other countries in the Caribbean Basin has made significant steps towards liberalization and regulatory reform, recognizing the benefits of FDI and the importance of creating a favourable environment for private investments and entrepreneurship.

The Conference will seek to chart key policy issues for countries in the region, develop a reform agenda and identify actions necessary to further improve the investment climate and maximize inflows and derived benefits of FDI in the future.

JAMPRO will lead the discussions on Jamaica’s business environment as one of the pilot countries in the region. National development strategies such as resource allocation, infrastructure development, education and training, as well as opportunities for partnerships will be main agenda items for the Conference, which is co-sponsored locally by Life of Jamaica Ltd., Capital & Credit Merchant Bank Ltd., and Jamaica Money Market Brokers Ltd.