Wed | Feb 8, 2023

National Investment Policy to be tabled in Parliament soon - Dunn

Published:Wednesday | November 30, 2022 | 1:05 PM
Dr Norman Dunn, State Minister in the Ministry of Industry, Investment and Commerce, addressing the audience at the Invest Jamaica 2022 Business Conference at the Montego Bay Convention Centre in St James on November 30, 2022. - Ashley Anguin photo.

The long-awaited National Investment Policy has been approved by Cabinet and is to be tabled in Parliament for deliberation soon.

This was announced this morning by Dr Norman Dunn, State Minister in the Ministry of Industry, Investment and Commerce, while addressing the second day of the Invest Jamaica 2022 Business Conference at the Montego Bay Convention Centre in Rose Hall, St James.

The policy aims to create an enabling environment for businesses to invest in Jamaica.

“The NIP [National Investment Policy] has since been submitted to Parliament, and it is currently scheduled for tabling. This is a major signal of the Jamaican government's commitment to engender a business environment that bolsters and enhances economic development and growth through sustainable investments,” Dunn told the conference.

He did not provide a timeline on when the parliamentary deliberation will take place.

The policy's Green Paper was previously tabled in the House of Representatives in 2020.

The policy, which was tabled at that time along with the National Five-Year Manufacturing Growth Strategy, is intended to provide a framework for creating the environment necessary to attract local and foreign direct investments to Jamaica.

Dunn also noted during today's conference that the National Investment Policy underpins the National Business Portal, which is expected to prioritise investments critical to Jamaica's sustainable economic growth.

Both the policy and the portal were created by the Jamaica Promotions Corporation (JAMPRO).

- Christopher Thomas

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