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JM | Jul 7, 2022

Strong investment prospects for Jamaica with visit of Saudi delegation this week

/ Our Today

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Senator Aubyn Hill, minister of industry, investment and commerce.

Senator Aubyn Hill, minister of industry, investment and commerce, has invited a high level delegation of government officials and companies from Saudi Arabia to visit Jamaica on Friday July 8, 2022 for a briefing and tours of investment opportunities across Kingston and Montego Bay.

The visit will follow a Saudi-Caribbean Investment Forum in Punta Cana, Dominican Republic from July 6-8, featuring tours of investment projects at the Caymanas Special Economic Zone for warehousing, ICT, BPO and manufacturing opportunities, Kingston Logistics Park that integrates the global supply chain by air and sea, the Port Royal Pier for cruise tourism and hospitality among others.

According to Hill, “Jamaica is serious about the growth of industries that command strong global appeal. We are clear that Jamaica, with a per capita income of US$5,000 will never get rich by selling to only three million people. Jamaica must therefore expand its global business networks for which our participation in the Saudi-Caribbean Investment Forum presents strong opportunities”.

Jamaica’s delegation to the forum will be jointly led by Hill and include participation from Edmund Bartlett, minister of tourism and related organisations such as JAMPRO, the Port Authority of Jamaica and Factories Corporation of Jamaica.

HILL TO EXAMINE INVESTMENT OPPORTUNITIES

Hill will examine investment opportunities for Jamaica in a ministerial panel discussion, while Bartlett participates in a separate dialogue on tourism and hospitality.

Other presentations will come from the Saudi Deputy Minister of Investment, the Dominican ministers of foreign affairs and tourism and the First Vice President of the Caribbean Association of Investment Promotion Agencies (CAIPA). Among other countries that will attend and participate are Barbados, Belize, Bermuda, Curacao, El Salvador, Guyana, St Vincent and the Grenadines among others.

Jamaica’s participation in the Saudi-Caribbean Investment Forum and local investment tour is aimed at presenting investment ready projects to Saudi investors and financiers, raise awareness of Jamaica as the premier investment location in the region and develop a sustainable business relationship between Saudi and Jamaican businesses in several growth industries.

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