J Wray & Nephew, which for decades has been promoting Jamaica around the world by constantly opening new and emerging markets for its flagship brand Appleton Estate Jamaica Rum, has hailed the decision to recognise foreign investors at the 2009 Observer Business Leader Awards.

According to J Wray & Nephew’s promotions and communications manager, Andrew Price, “it is indeed important to highlight entrepreneurs from overseas who have seen it fit to invest in our island despite the global difficulties being experienced”.

Price reiterated that J Wray & Nephew has been involved in the Observer Business Leader Awards every year from its inception because his company “believes in the entrepreneurial spirit of all Jamaicans and believes it should be highlighted to influence others to assist in nation-building”.

Six overseas investors — Michael Lee Chin of NCB; Luis and Carmen Riu of the Riu chain of hotels; Arthur Lok Jack of Guardian Insurance and Caribbean Airlines; 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.

Price said that “by honouring these overseas giants and highlighting their successes in taking the risk to invest in Jamaica, we can further encourage other overseas-based investors to commit their time and entrepreneurism to our island and for individuals worldwide to see that the climate for investment is well worth the risk in Jamaica”.

Highlighting the importance of foreign investment, Price used his multiple award-winning company as an example, pointing out that Appleton Estate Jamaica Rum can be found in Europe; South, North and Central America; the Caribbean; Australia; and New Zealand.

“We are now currently looking to expand to territories such as Asia and Africa,” he said, adding that J Wray & Nephew has seen it fit to invest in foreign countries without alienating it’s home base in Jamaica.

“Once the name Appleton is mentioned globally, it is said in the same breath as the country Jamaica,” said Price. “Rum is synonymous with Jamaica and Appleton is synonymous with Jamaican rum.”

The Observer Business Leader Awards ceremony will take place tomorrow 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.