Tue | Apr 25, 2017

Opposition rejects Falconer's warning that Krauck criticisms could scare off investors

Published:Thursday | July 2, 2015 | 7:21 PM

The Opposition is rejecting assertions from the Government that criticisms about the Krauck logistics hub investment proposal could scare off investors from coming to Jamaica. 

Yesterday, Information Minister, Senator Sandrea Falconer warned critics to be careful about their utterances about potential investors because Jamaica needs all the investments it can get. 

However, the Opposition Spokesman on Investment, Karl Samuda is dismissing that warning.

He's arguing instead that it was the weaknesses in government highlighted by the Krauck saga which could influence potential investors. 

He says that the government through, Investment Minister, Anthony Hylton, made an announcement about Krauck's proposal and later signed an agreement without doing the necessary due diligence. 

Samuda says that pre-mature announcement forced the public to question the legitimacy of the investors and government's handling of the matter. 

 

Opposition Spokesman in Investment, Karl Samuda

Krauck Systems and Anchor Finance Group LLC had proposed to invest about five billion US dollars in Jamaica's logistics hub initiative. 

However, the public raised concerns about the legitimacy of the companies and last month, the Cabinet halted negotiations because insufficient due diligence information had been submitted. 

However, the Cabinet said Hylton's ministry could continue talks if it wants. 

The Opposition has called for his resignation.