THE Government’s efforts to create an enabling legislative and fiscal infrastructure to attract investors has received strong support from one of the largest United States-based global law firms, Baker & McKenzie.

Principal partner Simon Beck commended the government for its bold moves to position Jamaica at the forefront of investment destinations.

Speaking last week at a reception hosted by the law firm in honour of Jamaica’s Ambassador to the United States Audrey Marks, Beck told the more than 175 movers and shakers gathered at the firm’s Washington, DC headquarters, that Jamaica’s legislative and fiscal initiatives will make many of their clients say, “That’s the location, that’s where we should establish ourselves, because it’s absolutely perfect” for investment.

Beck touted Jamaica’s tax and investment treaties as “almost second to none in the Caribbean”, stressing that “most importantly, the Government is very much behind positioning Jamaica” as an investment centre.

He indentified among Jamaica’s advantages, its “wonderful location, the most wonderful geography, wonderful infrastructure, and one of the highest educated populations in all of the Caribbean”.

He noted, as well, the Government’s support and commitment to encouraging multinationals, executives, academics, and high net-worth families to establish a base in Jamaica.

Tourism Minister Edmund Bartlett, on hand as keynote speaker, disclosed that legislation to reposition the financial service sector will be in place within the next 12 months. This will give a stronger position to financial services (relating to off-shore banking), he said.

“We are positioning ourselves in terms of redefining our own processes: We’re looking at how we can achieve growth, and how we can restructure ourselves,” said Bartlett.

Turning to the area of tourism, the minister said, “Jamaica has to definitely reposition itself,” even though “we do have both comparative and competitive advantage.” He went on to explain: “We’ve been looking at the service sector as a critical platform for our own reconstruction efforts,” with tourism at the centre of that endeavour.

Bartlett invited the business leaders to invest in Jamaica, stressing, “We’ve been looking at how can we bring people, how can we bring capital into Jamaica; and at how can we bring more entrepreneurs into Jamaica to energise our own efforts, and to bring wider knowledge and greater expertise to intermingle with ours.”

Stating that he was excited at the prospect of attracting more tourists from the Washington area, Bartlett further disclosed that Air Jamaica, which is now operated by Caribbean Airlines, would soon be resuming daily flights out of the Baltimore gateway.

During the reception, he also paid tribute to Ambassador Audrey Marks for her tremendous effort in representing Jamaican interests in the United States. He described her as “a brilliant mind and a really outstanding entrepreneur from Jamaica, who understands business and diplomacy”.

In her response, Ambassador Marks said she was honoured and privileged to be representing her nation at this critical juncture in its development. She underscored her main areas of focus as strengthening Jamaica-US relations; increasing trade and investment; and engaging the Diaspora to look at the investment opportunities available in their homeland.