JAMPRO facilitates investments to Jamaica…we do not manage investment funds.

 

 Following publication of an article in “Caribbean News Now” on April 5, 2016, there have been speculations about the integrity of the Jamaica Promotions Corporation (JAMPRO) in facilitating investments to Jamaica, which I would like to clarify.

 Allegations that JAMPRO has any direct involvement in fraudulent investment “Ponzi” or “bridge loan” schemes are totally unfounded, detrimental to our good reputation, and must be retracted. JAMPRO handles investments in Jamaica against principles of pure business professionalism. We facilitate investors and investment projects that we believe can add value to our economy and create wealth for our people, for generations to come. Our systems and operations are transparent. We operate in good faith with all our investors and always expect positive returns.

All services to the investor are free. We do not accept cash, cheques or bank transfers for any investment that comes into Jamaica. Neither do we manage investment funds, interfere with or benefit from any investment funds that come into the country. JAMPRO accounts for investments based on the total capital expenditure (CAPEX) of the investment project, which is accounted for in our annual reports.

Once investment projects have been set up and operations have started successfully, it is normal for us to ensure that clients are doing well and that businesses add value to our country, the economy and provide employment opportunities for our people.

JAMPRO, as a government-funded agency operating under the Ministry of Economic Growth and Job Creation, promotes investment and export opportunities in our country in a bid to attract foreign direct investments and increase the export of Jamaican products in traditional and non-traditional markets.

In our investment facilitation operations we undertake three (3) core functions:

1.      Advisory Services – which includes providing assistance to investors who would like to set up their operations in Jamaica, providing technical and financial advice for projects, finding suitable business sites, providing market research and analytics on business ventures and giving general advice and guidance about Jamaica’s business climate.

2.     Promotional Services – which includes the packaging and marketing of “shovel-ready” investment projects, matching investors with suitable partners and linking investors with relevant suppliers of goods and services.

3.     Facilitation Services – This includes real estate and facilities identification, free zone applications, incentives, licenses and waivers applications as well as work permit, work approvals and other start-up processes.

 

As ambassadors of the Jamaican business brand, we have a responsibility to protect the reputation of this organization and this country. We will do what is in our control to ensure that investors continue to have confidence in what we do and the value they will get from investing in our country. We reiterate, JAMPRO, does not engage in the management of investment funds.

Diane Edwards

President, JAMPRO

 

Source: 
JAMPRO
Published Date: 
Thursday, April 7, 2016
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