ST JAMES, Jamaica (JIS) – Minister of Industry, Investment and Commerce Anthony Hylton, says the second staging of the Jamaica Investment Forum (JIF) was a “definite success” and exceeded expectations.

“I believe that we have, to use a baseball term, hit a home run or in cricket, a six,” the Minister said.

He was speaking as the curtain came down on the two-day event last Thursday at the Montego Bay Convention Centre in St James. 

Hylton told JIS News that the country successfully showcased its investment catalogue to the world and he is optimistic that many of the prospects would convert to solid investments.  

He said Jamaica has laid the groundwork for an improved business-friendly environment, citing the new insolvency regime; a Secured Transactions and Asset Based Lending regime; the electronic business registration application facility; the new Automated System for Customs Data (ASYCUDA); and the e-filing of taxes. 

As a result, he said, Jamaica has improved its ranking in all major competitiveness indices. 

An upbeat Hylton pointed out that “all the indicators are up … the global recession is pretty much behind us; our close markets have begun to grow again and Jamaica is a different place. All of this has coincided in bringing together a group of investors that were hand-picked (who) had an interest…and who (were) invited to come to Jamaica and engage us and to look at what was possible.”  

The Minister said he is pleased with the outcome of the forum, particularly the level of participation of local private sector leaders, who were the main presenters and rapporteurs for the various breakout groupings and sessions. 

He also commended the Jamaica Promotions Corporation (JAMPRO) which, he said, should be given full credit for organising “a forum with a difference.” 

“We brought different elements to the forum and so we were able to showcase (and) present the information differently to create the environment for networking and generally for presenting a full picture of the Jamaican economy, the investment climate in Jamaica and the opportunities for investment,” he pointed out.

The JIF 2015 attracted over 137 potential investors representing companies from North America, Pakistan, Turkey, China, India, Spain, France and United Kingdom, and saw executive level representatives from 90 organisations attending, including: Aegis, The Unipharm Group, CEMEX, Accor Hotels & Resort, Apple Leisure Group, Melia Hotels International and The Wyndham Hotel Group.

Headline sponsors for the two-day event were JAMPRO, Commerzbank, Digicel Business and the Inter-American Development Bank (IDB).