PM Says Jamaica No Longer Viewed as High-Risk by Investors
Prime Minister, Dr Andrew Holness says Jamaica’s economic outlook has improved, with the country no longer being viewed as high risk by investors.
He made the statement during the opening of a new Courts furniture and appliance store in Drax Hall, St. Ann.
The Prime Minister highlighted that Jamaica’s current economic stability has eased investor concerns, contrasting with previous decades when volatile inflation, interest rates, and exchange rates made the country less attractive for investment.
Dr Holness noted that this transformation has led to a more favourable investment environment, citing stable inflation and interest rates as key factors.
He emphasised that Jamaica now offers a level of predictability in these areas, comparable to developed nations.
Looking ahead, the Prime Minister stated that while investment is crucial, it must be complemented by efficiency, productivity, and innovation. To support this, the Government plans to implement deep institutional reforms and embrace technology to improve human resource development.
Dr Holness also highlighted Jamaica’s unique position in the Caribbean, particularly its free-floating exchange rate, as a major draw for international investors. He pointed out that for the past nine years, the Government has introduced no new taxes, adding to the country’s appeal.
However, the Prime Minister acknowledged ongoing challenges, including poverty, poor road conditions, and long-standing water shortages in some communities.
He reassured the public that the revenues generated from increased investments would be reinvested in the country’s infrastructure and services to address these issues.
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