Jamaica’s political climate good for investment – PM Holness

WESTERN BUREAU:

Prime Minister Andrew Holness says the stable political climate and the general Caribbean region are factors that should make the island a viable option for investors in tourism and other areas.

Holness said Jamaica has a unique political stability that is good for investment and growth, adding that in this type of climate investments will be safe, as political unrest is unlikely to affect their investors.

“You will find that the Caribbean region is probably one of the most stable emerging regions, and Jamaica is the most politically stable in regard to all your potential opportunities within the region,” said Holness, who was addressing investors at the Caribbean Hotel Investment Conference and Operations Summit in Montego Bay last week.

The Caribbean Hotel Investment Conference and Operations Summit is the premier industry event for the region. It brings together government representatives, opinion leaders, developers, bankers and other lenders, tourism officials, investment funds, hotel brand executives, and individuals seeking investors for their tourism projects.

“Jamaica has a very strong and deep democratic tradition, principles of freedom, and we are ranked number six in the world for freedom of the press,” stated Holness.

“We have a very liberal kind of democracy and it is puzzling to many. Jamaica has been able to execute an austere programme of reform in conjunction with the International Monetary Fund and we have been able to do so without any form of social disruption,” Holness added.

The prime minister further noted that, politically, Jamaica has been able to build consensus around difficult economic reforms and has managed to execute them seamlessly, noting that the Government has an ambitious growth agenda to embrace investment.

“Clearly, investors want to go where they can get the best returns, but they also want to be certain that their investment will be safe, that the political risk is minimal, and so in analyzing Jamaica and, indeed, the region, you can be sure that the political risk here is minimal, “ stated Holness.