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The Jamaica Stock Exchange (JSE) will be staging a regional conference on investment and capitals markets in January, aimed at encouraging exploitation of capital markets and investment opportunities in Jamaica, the wider Caribbean and across the globe.
The conference, which will be held under the theme: ‘Creating investment opportunities for the growth and development of the region’s capital markets in a globalized environment,’ is slated for the Half Moon Conference Centre in St. James from January 17 to 19.
Discussion will focus on the establishment of a regional exchange; attracting foreign and institutional investors; making use of regional investment opportunities and the role of CARICOM in advancing the development of the financial sector.
Keynote addresses are expected from P. J. Patterson, Owen Arthur and Dr. Kenny Anthony, Prime Ministers of Jamaica, Barbados and St. Lucia, respectively; Leader of the Opposition, Bruce Golding and Chancellor Emeritus of the University of the West Indies, Sir Shirdath Ramphal.
General Manager of the Jamaica Stock Exchange (JSE) Marlene Street-Forrest, addressing a press conference held at the Office of the Prime Minister in Montego Bay yesterday (Dec.13) to launch the event, said that the objective was to bring together respective parties and stakeholders for investment discussion, enabling them to have better and more accurate information about opportunities that existed within the region.
She noted that the JSE, as part of an ongoing effort to communicate investment opportunities to the international community, recently formed an alliance with the Bloomberg financial site. “This is important,” she said, “for the market information to reach the world in terms of investment opportunities”.
Turning to the JSE’s performance for the period 2000 to 2004, she informed that the number of transactions have moved from 21,000 to 86,875, while the value of trades have moved from $3.4 billion to $35.9 billion.
Meanwhile, Mrs. Street-Forrest noted that sponsorship for the conference has been overwhelming. “Persons and organizations have seen the need to sponsor the event as the conference is intended to set the tone for regional and global investment within Jamaica and the wider Caribbean,” she said.
In his remarks, Executive Chairman of the JSE, Roy Johnson informed that the organization’s mission was to develop a capital market, which would contribute to national development.
“In our view, if a country is going to be developed, we must produce and in order to produce, there must be investment, hence the capital market plays an extremely important role in the development of our country,” he noted.
He said that the conference would provide a clearer understanding of the Caribbean Single Market and Economy (CSME), and how participating countries could benefit.
“The JSE is ideally positioned to engage and assist in developing practical strategies for the effective utilization of the CSME to achieve development in the region through the development of the region’s capital markets”, Mr. Johnson added.