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Business, Business Leader, Editorial
December 2, 2010

Business Leader winners: Honour to whom honour is due

Our heartiest congratulations to Mr Denis O’Brien, founder and chairman of Digicel, on being named the top Observer Business Leader Foreign Investor for 2009.

Just as deserving of praise are the other nominees for the award — Mr Arthur Lok Jack, Mr Luis Riu and Ms Carmen Riu, Mr Carlos del Rio, Mr Brendan Paddick, and Mr Michael Lee Chin.

As was pointed out at the awards banquet on Tuesday night, Jamaica owes a debt of gratitude to these seven people who chose this country in which to invest hundreds of millions of dollars of their money.

There’s no doubting the fact that these entrepreneurs could have invested their money elsewhere. In fact, there are other countries in this region where things like energy and the other associated costs of doing business are far more economical and not as burdensome as obtains here.

However, these seven individuals showed faith in Jamaica, investing approximately US$2.3 billion combined that has brought improved technology, infrastructure and created thousands of jobs for Jamaicans.

Altogether, Luis and Carmen Riu, Carlos del Rio, Denis O’Brien, Brendan Paddick, Michael Lee Chin, and Arthur Lok Jack have made a bold statement to the world that Jamaica is indeed a good place to invest. They have also played a significant role in improving the lives of many Jamaican families.

It is against that background that this newspaper felt privileged to be able to have recognised their immense contribution to Jamaica, because we are firm in our commitment to support any effort that redounds to the benefit and further development of this country.

But even as we celebrate the achievements of these larger-than-life corporate personalities, we can’t help but point to the further immeasurable benefits that could have been realised from their investments had the business climate here been better.

Two of the most pressing issues that we believe are preventing more investors — both local and foreign — from doing business here are the costs of energy and security.

Their stifling effects have been raised time and time again by Jamaican and overseas investors to the point where this newspaper’s reportage of the problems have led to our being ‘punished’, so to speak, by those angry that we have dared to highlight such concerns.

That, however, will not stop us. For we believe that the country stands to benefit more from a comfortable business environment — an environment in which industry is not strangled by high overheads imposed by those who see no need to improve their own efficiency.

It would suit the Government and, by extension, the country well to deal with these issues, as it is clear — from the achievements of our Business Leader winners and nominees over the past 14 years — that we can make this country a better place to live.

It’s not difficult. All it needs is political will and a fixity of purpose.

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