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Juss ah likkle hint of a sliver of the economic disincentive to investment ... and foregone income.... caused by JLPNP & Business fostered criminality & corruption
GDP Haircut conservatively estimated by the Whirl Bank at -5% per year... X40 years dat look like US$60 Billion in lost income
But the myopic waan focus pon choosing which Tribe of Midgets "betta".... ignoring the REAL problem
Lee Kwan Yew...whe yuh deh??? wooooiiieee
British companies looking to Jamaica but have concerns
BY ALICIA DUNKLEY-WILLIS Senior staff reporter dunkleya@jamaicaobserver.com
Thursday, August 01, 2013
BRITISH High Commissioner to Jamaica David Fitton has indicated that there is some level of interest from companies in Britain that want to set up shop in Jamaica, but says this will depend on a number of factors, including concerns about security.
Speaking with the Jamaica Observer in an interview on Monday, Fitton — who took office in June — said that discussions have begun with the firms. However, he did not disclose their names.
New British High Commissioner to Jamaica David Fitton makes a point during an interview with the Jamaica Observer at the British High Commission on Trafalgar Road in Kingston, on Monday. (PHOTO: JOSEPH WELLINGTON)
"There are one and two and for obvious reasons I don't want to go into details, but before I left London I did some briefing rounds on political issues, security issues and I also met with a number of companies," he said.
"Since I arrived, I have been to the Chamber of Commerce here and what's clear is that there are some new companies that are looking at Jamaica," Fitton said.
"They have to do their due diligence, their research, when they are ready they will be in touch. It depends on what the prospects are. Some of them may come to nothing, some may have good prospects," the British high commissioner told the Observer.
"I think what we discussed about security, whether it be corruption or the feeling that Kingston is a difficult city to work in, may be some of the reasons that put persons off from doing business here. So, if we tackle one problem we could actually help the other problem," Fitton noted.
Pointing to the results of a World Bank study which found that if Jamaica could reduce its homicide figures to single digits it could help improve the country's Gross Domestic Product by about four or five per cent, Fitton said "clearly one of the ways that would help is that more companies might be more serious about wanting to work here".
"I am not trying to be naive and think this is an easy thing to deal with, I think it means we work on the one hand on the security side and if we do make some progress, then the prospects for encouraging more companies to come here or the companies that are here to do more will be better. We will see; that's part of my task over the next few years," he added.
However, he pointed out that security might not be the only concern.
"Again without saying too much about which companies they are, but if they are looking at a particular sector they may decide purely for commercial reasons, not necessarily security, whether a commercial venture will work or not," Fitton noted.
In the meantime, the British high commissioner said that the issue of trade and investment would be another of his focus areas.
"The amount of goods exported to Jamaica is slightly more than the other way around, this year so far its about £90 million worth one way, and about £86 the other. I think we all feel there is the potential to do more," he said.
Commissioner Fitton, who on Monday also met with a group of British businessmen, said the idea was to dialogue with existing entrepreneurs who "might want to do more or new ones who want to do business". He said equally, Jamaicans who want to do more business in the United Kingdom could be part of the dialogue.
"There are plenty of companies from Europe, North America who are here already, but I am sure there is potential for more," he added.
GDP Haircut conservatively estimated by the Whirl Bank at -5% per year... X40 years dat look like US$60 Billion in lost income
But the myopic waan focus pon choosing which Tribe of Midgets "betta".... ignoring the REAL problem
Lee Kwan Yew...whe yuh deh??? wooooiiieee
British companies looking to Jamaica but have concerns
BY ALICIA DUNKLEY-WILLIS Senior staff reporter dunkleya@jamaicaobserver.com
Thursday, August 01, 2013
BRITISH High Commissioner to Jamaica David Fitton has indicated that there is some level of interest from companies in Britain that want to set up shop in Jamaica, but says this will depend on a number of factors, including concerns about security.
Speaking with the Jamaica Observer in an interview on Monday, Fitton — who took office in June — said that discussions have begun with the firms. However, he did not disclose their names.
New British High Commissioner to Jamaica David Fitton makes a point during an interview with the Jamaica Observer at the British High Commission on Trafalgar Road in Kingston, on Monday. (PHOTO: JOSEPH WELLINGTON)
"There are one and two and for obvious reasons I don't want to go into details, but before I left London I did some briefing rounds on political issues, security issues and I also met with a number of companies," he said.
"Since I arrived, I have been to the Chamber of Commerce here and what's clear is that there are some new companies that are looking at Jamaica," Fitton said.
"They have to do their due diligence, their research, when they are ready they will be in touch. It depends on what the prospects are. Some of them may come to nothing, some may have good prospects," the British high commissioner told the Observer.
"I think what we discussed about security, whether it be corruption or the feeling that Kingston is a difficult city to work in, may be some of the reasons that put persons off from doing business here. So, if we tackle one problem we could actually help the other problem," Fitton noted.
Pointing to the results of a World Bank study which found that if Jamaica could reduce its homicide figures to single digits it could help improve the country's Gross Domestic Product by about four or five per cent, Fitton said "clearly one of the ways that would help is that more companies might be more serious about wanting to work here".
"I am not trying to be naive and think this is an easy thing to deal with, I think it means we work on the one hand on the security side and if we do make some progress, then the prospects for encouraging more companies to come here or the companies that are here to do more will be better. We will see; that's part of my task over the next few years," he added.
However, he pointed out that security might not be the only concern.
"Again without saying too much about which companies they are, but if they are looking at a particular sector they may decide purely for commercial reasons, not necessarily security, whether a commercial venture will work or not," Fitton noted.
In the meantime, the British high commissioner said that the issue of trade and investment would be another of his focus areas.
"The amount of goods exported to Jamaica is slightly more than the other way around, this year so far its about £90 million worth one way, and about £86 the other. I think we all feel there is the potential to do more," he said.
Commissioner Fitton, who on Monday also met with a group of British businessmen, said the idea was to dialogue with existing entrepreneurs who "might want to do more or new ones who want to do business". He said equally, Jamaicans who want to do more business in the United Kingdom could be part of the dialogue.
"There are plenty of companies from Europe, North America who are here already, but I am sure there is potential for more," he added.
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