Financial Times’ fDi Magazine ranks Jamaica’s FDI strategy as best in the Caribbean and Central America

Financial Times’ fDi Magazine ranks Jamaica’s FDI strategy as best in the Caribbean and Central America

 

Kingston, Jamaica, August 14, 2015: Noted authority in global foreign direct investment (FDI) monitoring fDi Magazine has rated Jamaica’s foreign direct investment strategy as the best in the Caribbean and Central America in their Caribbean and Central American Countries of the Future 2015/16 rankings. The country improvements were also recognised in the top 10 rankings for Connectivity and Business Friendliness.

Jamaica’s FDI strategy received the top achievement due to the country’s commitment to improving the conditions for overseas investors and the investment-attracting initiatives of the national trade and investment promotion agency JAMPRO.   The country was also lauded for its performance in network connectivity and technology and its business friendliness, which is measured by the number of expansions of projects, jobs created by FDI and the ease of doing business amongst other factors.

 

JAMPRO President Diane Edwards has welcomed the country’s new ranking and sees it as fruit of the agency’s strategic realignment to attract more investment to Jamaica. The agency has been implementing programmes such as the Shovel-Ready Investment Programme (SRIP), which hosts projects that have already addressed many development processes and bureaucratic blocks which may slow down investments. Edwards said, “As a country, we have made huge strides to improve the business environment in order to enhance its attractiveness to global entrepreneurs and foreign investors seeking opportunities. We are indeed honoured for this achievement and are finally seeing the payback in the increase in FDI we have experienced over the past three years; now exceeding US$500 million per year.”

 

Minister of Industry, Investment and Commerce, G. Anthony Hylton is also pleased with the country’s continuous improvement in recognised international business rankings, as the Ministry of Industry, Investment and Commerce has been focused on improving Jamaica’s business atmosphere to encourage investment into the country. Minister Hylton said, “Jamaica’s ranking reflects the significant strides that we continue to make in improving our policy, strategies and institutional capacity to attract increased investment to Jamaica. JAMPRO’s leadership role in the process is underlined by Jamaica’s ranking as #1 in FDI strategy in the Central America and Caribbean region.We will, therefore, re-double our efforts to ensure that all aspects of our business environment are improved in order to improve investor confidence in Jamaica.”

 

As the agency seeks to improve Jamaica’s attractiveness for investment and business, JAMPRO will continue to develop initiatives and programmes to encourage sustainable and lucrative investments into the Jamaican economy. The agency is working with its partners and stakeholders to further increase commerce and positive economic activity.

 

 

 

 

 

 

 

 

 

 

-30-

Source: 
JAMPRO
Published Date: 
Friday, August 14, 2015
Show on Homepage: 
Yes