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Ja received US$794m in foreign direct investment last year – Report

Published:Thursday | June 23, 2016 | 12:34 PM

The just-released 2016 World Investment Report is indicating that Jamaica received US$794 million in foreign direct investment last year.

This is a 34 per cent increase over the $591 million received in 2015.

According to the report, the inflows were associated with activity in the tourism sector, as well as infrastructure and business process outsourcing projects.

It also said in 2015 Jamaica had the highest increase in investment inflows in the region and attracted 40 per cent of all announced new investments green field in Small Island Developing States.

A green field investment is a form of foreign direct investment where a parent company builds its operations in a foreign country from the ground up.

Commenting on the report, President of JAMPRO, Diane Edwards, said the agency has seen a steady increase in investor interest in Jamaica for the past few years.

According to Miss Edwards, this interest has been stimulated by the improvements in the economy and the ease of doing business rankings.

Last year, Jamaica was ranked 64th out of 189 countries, a jump by seven places over 2014.