Government Commended for Creating Friendlier Investment Environment

State Minister for Industry, Investment, and Commerce, Hon. Sharon Ffolkes Abrahams (right); and Vice President, Operations and Customer Relations, Montego Bay Free Zone Company Limited, Gloria Henry (centre), are engaged in conversation by Digicel Jamaica’s Chief Executive Officer, Barry O’Brien, during the recent two-day Jamaica Investment Forum (JIF), at the Montego Bay Convention Centre in St. James.

The Government has been commended by Chief Executive Officer (CEO) of Digicel Jamaica, Barry O’Brien, for undertaking activities, such as implementation of the Omnibus Tax Legislation, which he says have been pivotal in creating a friendlier investment and business environment.

These engagements, he notes, have enabled Jamaica to attract and retain significant Foreign Direct Investments (FDIs), with the country recording a five-year high US$707 million in FDI inflows for the 12-month period, ending September 2014.

He cites Digicel’s success, over its 14 years in the Jamaica, during which the company has, to date, invested over US1 billion to expand its operations, as testament that the Government continues to do a “tremendous” job to facilitate business, noting that the firm’s dividends have been nothing short of profitable.

“I think Jamaica is doing an excellent job here, led by the present Government; everybody is offering things to (encourage) foreign direct investors to come to (Jamaica). So I think that, with this Omnibus legislation, the Government has made great progress in that area…I think the Government is doing the right things,”, Mr. O’Brien said, while speaking during the recent Jamaica Investment Forum (JIF), at the Montego Bay Convention Centre in St. James.

Mr. O’Brien said government engagements have enabled Digicel to become fully integrated in the Jamaican economy, as evidenced in the significant number of locals currently employed at all levels of the telecommunications firm’s operations.

“We have over 1,200 direct staff employed here in Jamaica and, on top of that, we have over 140 stores with 22,000 people selling our credit. Of the 1,200 people,…only 16…are expatriates, (with) the majority of those being in very narrow technical fields. The majority of the senior management team is Jamaican as well and, hopefully, in the not too distant future, you will also see a Jamaican CEO,” he stated.

Source: http://jis.gov.jm/government-commended-creating-friendlier-investment-environment/

Published Date: March 16th, 2015