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China looking to invest in Jamaica
Finance Minister - Audley Shaw
The next phase of investments in Jamaica, from China, could come in the financial sector.
The observation was made as Chinese companies say they are interested in expanding operations in the Caribbean.
In meetings ton Wednesday with Finance Minister Audley Shaw, China's Vice Minister of Commerce Wang Chao, noting Jamaica's economic recovery, expressed hope it will continue
But Mr Wang didn't stop there.
He said if Jamaica continues to improve the economic and investment environment, Chinese banks - most of which are commercial banks, would view it as an opportunity to establish operations in Jamaica.
He didn't say which, if any banks are currently interested in investing in Jamaica, or when they may come. But if Chinese banks start operating in Jamaica, it would break the dominance of the Canadian banks.
Currently, of seven banks, four - NCB, Scotia Group, RBTT and First Caribbean - are Canadian.
Mr Wang says the investments could come because China regards Jamaica as an important commercial partner.
Finance Minister - Audley Shaw The next phase of investments in Jamaica, from China, could come in the financial sector.
The observation was made as Chinese companies say they are interested in expanding operations in the Caribbean.
In meetings ton Wednesday with Finance Minister Audley Shaw, China's Vice Minister of Commerce Wang Chao, noting Jamaica's economic recovery, expressed hope it will continue
But Mr Wang didn't stop there.
He said if Jamaica continues to improve the economic and investment environment, Chinese banks - most of which are commercial banks, would view it as an opportunity to establish operations in Jamaica.
He didn't say which, if any banks are currently interested in investing in Jamaica, or when they may come. But if Chinese banks start operating in Jamaica, it would break the dominance of the Canadian banks.
Currently, of seven banks, four - NCB, Scotia Group, RBTT and First Caribbean - are Canadian.
Mr Wang says the investments could come because China regards Jamaica as an important commercial partner.
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