PanCaribbeanBank Limited and the Jamaica Tourist Board (JTB) yesterday hailed the 2009 Observer Business Leader Award nominees for creating new jobs in Jamaica and expressed confidence that the country would benefit further from recognising foreign investors.

“We applaud the initiative and have partnered again this year to recognise the contribution of overseas investors who have assisted the development of the nation,” said Karlene Dennis, PanCaribbean’s public relations manager.

“The investments have resulted in new jobs, social development and opportunities for small and medium enterprises. In some instances, the investors have revolutionised their respective industries,” Dennis added.

Six overseas investors — Michael Lee Chin of NCB, Luis and Carmen Riu of the RIU chain of hotels, Arthur Lok Jack of Guardian Holdings Ltd, Carlos del Rio of the Sangster International Airport, Denis O’Brien of Digicel, and Brandan Paddick of Flow — have been nominated for the award which recognises excellence and innovation in entrepreneurship.

The JTB, in its comment on the decision to recognise foreign investors, noted that most of the growth in the tourism industry in Jamaica over the past five years has come from foreign investors, primarily in the areas of hotels, attractions as well as the airports.

“Investment is a very important ingredient, as without it the industry will not grow,” said the JTB which, through its worldwide network of offices, “invests heavily in global advertising, marketing and public relations campaigns” for Jamaica.

The Business Leader Awards ceremony will take place today at the Jamaica Pegasus Hotel in Kingston, beginning with a cocktail reception at 6:30 pm. This will be followed at 8:00 pm by the formal event at which the Business Leader Foreign Investor will be named.