PM Calls for More Investors to Invest in Jamaica

Prime Minister, the Most Hon. Andrew Holness, is calling for more “risk takers” to invest in Jamaica, and has commended the Montego Bay business community for their efforts in this regard.

He was delivering the keynote address at the groundbreaking ceremony for the construction of a $740-million, 75,000-square foot Business Process Outsourcing (BPO) centre in the Montego Freeport by Bioprist Knowledge Parks (BKP).

The centre, which is being constructed on 31 acres of land, will include secured fibre-optics and communications networks for a fully equipped plug and play facility, food court, Automated Teller Machines (ATM), pool tables, indoor games room, netball and basketball courts, and a day care centre for children of employees.

This is the third such investment project being undertaken by BKP over the past two years.

The company has acquired the former Jockey International plants in Sandy Bay and Lucea in Hanover, where it is, respectively, setting up another BPO centre and a health training institution for local and institution students.

Mr. Holness lauded BKP’s Chief Executive Officer (CEO), Dr. Guna Muppuri, for his investments in Jamaica.

He noted that the project in Montego Bay was supported by the Government through the Jamaica Promotions Corporation (JAMPRO), and the Development Bank of Jamaica (DBJ).

“Taking risks is not just the purview of the entrepreneur, but the political directorate must also see the values and the opportunities that exist in the country and create the regulatory and legislative framework to turn those risks into profitable realities,” Mr. Holness said.

Meanwhile, Managing Director of the DBJ, Milverton Reynolds, informed that the entity facilitated a US$6.025 million loan to BKP at 4.5 percent interest, which is repayable over 12 years.  He said the project is expected to create some 1,200 employment opportunities.

For his part, CEO of BKP, Dr. Guna Muppuri, said the BPO project in the Montego Freeport will provide infrastructure for the BPO/Information and Communications Technology (ICT) sector “that will eventually create employment opportunities for the current and next generation of talent pool in the nation, especially in socio-economically disadvantaged communities.”