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Jamaica FDI flows climb to new high

Published:Wednesday | March 18, 2015 | 12:00 AM

Jamaica attracted US$707 million ($81.3 billion) in foreign direct investments (FDI) over the 12 months ending September 2014, the central bank reported.

The flows represented a new high over the US$567 million of FDI in 2013.

Last year's rise was driven by investments in tourism and infrastructure, the Bank of Jamaica said in its quarterly International Investment Position report.

"The annual increase in FDI (equity) liability relative to portfolio liability indicates foreign investors' preferences for high-yield direct investment assets. Furthermore, the inflows of new equity FDI is an indication that foreign investment projects are still in the expansion phase as opposed to the saturation phase when FDI inflows would have largely reflected reinvested earnings," the BOJ said.