National Investment Policy to be Tabled This Fiscal Year

Photo: Yhomo Hutchinson Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw (standing), delivers the main address at the opening ceremony of the Jamaica Investment Forum (JIF) 2018, at the Iberostar Rose Hall Suites hotel, on June 12. Listening keenly (from left) are Chief Development Officer, New Fortress Energy, Brannen McElmurray; President and CEO, Scotia Group Jamaica, David Noel; Chairman and Director General, Planning Institute of Jamaica, Dr. Wayne Henry; President, Jamaica Promotions Corporation (JAMPRO), Dianne Edwards; Chairman of JAMPRO, Senator Don Wehby; and Regional Director, Business Year Magazine, Han Lee.

Story Highlights

  • The National Investment Policy, poised as the pivotal blueprint through which the Government will attract and facilitate investments, is expected to be tabled in Parliament as a Green Paper this fiscal year.
  • This is according to Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, who said the policy framework, approved by Cabinet in 2017, will guide the development, administration and monitoring of the investment community, to ensure cohesion among all related initiatives, programmes, incentive regimes and stakeholder contributions.
  • Mr. Shaw was addressing the opening ceremony for the Jamaica Investment Forum (JIF) 2018 on Tuesday (June 12), hosted at the Iberostar Rose Hall Suites hotel in Montego Bay, St. James.

The National Investment Policy, poised as the pivotal blueprint through which the Government will attract and facilitate investments, is expected to be tabled in Parliament as a Green Paper this fiscal year.

A series of national consultations will also be conducted to further bolster the policy.

This is according to Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, who said the policy framework, approved by Cabinet in 2017, will guide the development, administration and monitoring of the investment community, to ensure cohesion among all related initiatives, programmes, incentive regimes and stakeholder contributions.

Mr. Shaw was addressing the opening ceremony for the Jamaica Investment Forum (JIF) 2018 on Tuesday (June 12), hosted at the Iberostar Rose Hall Suites hotel in Montego Bay, St. James.

He said the National Outsourcing Strategy (NOS) also forms part of the move towards aligning Jamaica’s offerings, in an attractively packaged and well-supported framework, with the needs of the overseas investor market.

The NOS is a five-year strategy, being rolled out between 2015 and 2020, aimed at developing and advancing the outsourcing industry in Jamaica.

The Special Economic Zone (SEZ) Regulations were passed in Parliament in October 2017 in support of this initiative.

Mr. Shaw said a coordinated and multi-agency campaign has also been implemented to attract and train workers for the outsourcing sector.

“Work will continue with key partners in advancing the industry’s development,” he added.

The third staging of the JIF is a three-day undertaking being put on by Jamaica Promotions Corporation (JAMPRO). It is being hosted from June 12 to 14 under the theme ‘Connect for Business’.

Some 200 international investors are participating in the forum, which seeks to promote six priority sectors for investment. These are Outsourcing, Manufacturing, Agri-Business, Tourism, Logistics and Energy.

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