New ministry to streamline investment process
Jamaica’s Prime Minister Andrew Holness is reassuring U. S. investors that the government is streamlining the investment process in Jamaica. Speaking to over forty influential U.S. investors at a joint meeting of the US Chamber of Commerce and the American Chamber of Commerce of Jamaica (AMJAM) at chamber headquarters in Washington, D.C. last week, Prime Minister Holness said that the government was very mindful of current delays in the country’s investment process.
The newly formed Ministry of Economic Growth and Job Creation in the Office of the Prime Minister seeks to drive the reform in fast-tracking investments. All agencies responsible for permitting and all approvals would fall under this ministry umbrella, said Holness, which would require only one ministerial sign-off and eliminate the need to obtain multiple approval, which in the past created significant delays in investment projects. Once all the basic requirements are satisfied, investors seeking permits will deal with this one ministry.
“My government will ensure that the risk to investment is minimized,” said Holness. “That foreign investors can feel comfortable about the process of transitioning from the US into Jamaica and that the process is as seamless as possible.”