Wed | Jan 16, 2019

Local forum to pull overseas investors

Published:Saturday | January 24, 2015 | 12:00 AM

AN ESTIMATED 150 local and overseas investors are expected to converge in the Second City in March, when the country stages its second major investment forum.

Jamaica Investment Forum 2015 will again place Jamaica centre stage as the preferred investment destination in the Caribbean.

The international conference will be held at the Montego Bay Convention Centre from March 10 to 12, and will showcase key growth sectors and significant investment opportunities in the island.

Industry, Investment and Commerce Minister Anthony Hylton said the event is being held at a time when Jamaica has recorded significant improvements in its global investment outlook.

"Jamaica's profile as a credible business and investment destination is clearly rising. Opportunities are plenty and investor confidence is high and growing," Hylton said.

He was speaking on Thursday at the official launch of the three-day forum at the J. Wray & Nephew headquarters in New Kingston.

The country has received several endorsements from the international community regarding its global business ranking in recent times.

Chief among these is a 64th place ranking out of 146 nations on the 2014 Forbes Best Countries for Business Report. This makes Jamaica the best country in the Caribbean region to do business, and third in Latin America and the Caribbean.

Jamaica also improved its ranking in the 2014 Doing Business Report, with a significant jump from 94 to 58.

Additionally, the country moved eight places up the Global Competitiveness Index for 2014-2015, and is now ranked 86th out of 144 countries, compared to 94th out of 148 countries in the 2013-2014 report, and 97th out of 144 the previous year.

Hylton said he expects that with these upgrades, the 2015 forum will result in even greater inflows of foreign-direct investment into Jamaica.