Caribbean360: Jamaica looking to increase its earnings

Jamaica looking to increase its earnings
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Chris Hoyos on 17/02/2012 09:10:00
 
KINGSTON, Jamaica, Friday February 17, 2012 – The Jamaican government is
looking to implement a number of projects that have the potential to sustain
economic growth and development.
To accomplish this, the government is intensifying its efforts to secure
billions of US dollars in Foreign Direct Investment.
Minister of Industry, Investment and Commerce, Anthony Hylton said the efforts
would also include partnerships involving local and foreign private sector
investment communities and the public sector. These, he noted, will be based on
a structure with well-defined roles and responsibilities for each partner.
Hylton stated: “...we must undertake in order to achieve any significant
measure of economic transformation, FDI is expected to play an even greater role
in the economic development of the country.”
In 2008, Jamaica attracted US$1.4 billion in FDI flows, which Hylton attributed
to inflows in the agricultural, manufacturing distribution; and the information
communications technology sectors, which increased by 61 per cent and 56.2 per
cent, respectively, relative to 2007.
The minister said he was remaining optimistic that Jamaica will be able to
attract the level of foreign direct investment needed as the global recession
recedes. Click here to receive free news bulletins via email from Caribbean360.
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