UK Business Interests Urged to Look to Jamaica

The United Kingdom (UK) business community is being encouraged to look to Jamaica for business opportunities.

State Minister in the Ministry of Foreign Affairs and Foreign Trade, Hon. Alando Terrelonge, who met with business interests at the Jamaican High Commission in London recently, said he noted that the country is open for trade and investment.

Touting the advantages, he said that “Jamaica enjoys a global competitive business market, strong commercial laws, a world recognised ease of doing business, and Jamaica is more than sand and sea. Jamaica is a key destination for business, trade, and investment, with many benefits of doing business in a modern democratic nation with great political and economic stability.”

He underscored that Jamaica has one of the best performing stock markets in the world (rated the best by Bloomberg in 2015 and 2018), a highly profitable real estate market, sound macroeconomic policies, impressive vocational programmes to upskill employees, and has enjoyed successive quarters of economic growth.

The State Minister noted further that the World Bank and the International Monetary Fund (IMF), have all given Jamaica positive ratings for its economic management, adding that the country has also received a B+rating from global credit rating agency Fitch.

“Jamaica is open for business and we welcome investors like David Stedeford, Chief Executive Officer of Bamboo Bioproducts, who was in attendance and who will soon break ground for a massive US$440 million project in Jamaica that will employ 1000 persons,” he informed.

The meeting was organised by Jamaica Promotions Corporation (JAMPRO), the Jamaican High Commission, and VM Wealth Management.

In attendance were representatives from the UK banking sector, including Lloyds Banking Group; and Chairperson of the Black Business Advisory Committee, Claudine Reid.