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Jamaica intensifies efforts to woo more US investments

Published:Sunday | April 19, 2015 | 4:25 AM
Dr Peter Phillips

The government is now pushing to attract more American investors in areas such as tourism, business process outsourcing, energy, port expansion and the logistics hub.

Finance Minister Dr Phillips, who was addressing members of the American Chamber of Commerce in Washington DC yesterday, urged them to support Jamaica’s efforts to attract more US investment.

Such investments, he says, will benefit both Jamaica and the United States as they will increase employment and economic growth.

Phillips noted that Jamaica’s tourism industry has grown by leaps and bounds in recent years, but says US investor participation in the sector has decreased.

Pointing out that Jamaica has began to see an increase in the number of Americans investing in the business process outsourcing sector, the finance minister says over the next five years the government hopes to double the number of persons employed in the sector.