Minister of Industry, Investment and Commerce, Karl Samuda is urging business people in Canada to look to Jamaica, noting that Jamaica has a lot to offer investors.

“Jamaica is a stable country willing to participate as a partner in business. We have basic infrastructure that meets international standards and we have a workforce that is among the best in the world – highly trainable and to a great extent already trained,” he said.

Samuda was speaking to potential investors and people already doing business in Jamaica, at a meeting last Friday at the offices of the Consulate General of Jamaica in Toronto.

He advised those interested in doing business in the island to get on board now, noting that the Government is willing to offer incentives similar to other destinations. “Now is the time for investors to look at Jamaica in a real way. Those who get in at this stage will be much better able to take advantage of the incentives we offer,” he pointed out.

Among the business interests present were Jamaican-born Hal Campbell, owner of Blue Mountain Flame, which distributes Jablum Blue Mountain Coffee and Eaton’s chutneys and sauces; Proprietor of Harlem Underground Restaurant, Anthony Mair, who is looking to produce a cooking show for The Food Network in partnership with operator of Lover’s Leap in St Elizabeth, Michelle Miller; Armand Nahmiache, Chairman and President of Cement Jamaica, a subsidiary of Cemcorp Cement Canada; and Donald and Michael Samaroo of Sams International Foods.

Turning to measures to stabilise the economy and reduce debt, Minister Samuda said the Government, on assuming office, “made the tough decision” to restructure the debt at a reduced rate of interest, and the move immediately gave the country more revenue and also improved the ratio of debt to Gross Domestic Product (GDP).

He said that the Jamaican dollar has appreciated, net international reserves are strengthening every day, and inflation rate is running below one per cent per month, which is good news for potential investors, as it means that they can plan for the future.

As it relates to crime and violence, Samuda said recent initiatives introduced to “choke the oxygen out of crime by dismantling gangs and taking gang leaders out of society,” have resulted in a reduction of crime in general by some 40 per cent and the murder rate by more than 20 per cent.