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EDITORIAL - Ambassador Silva's investment concerns
published: Tuesday | June 19, 2007
The concerns expressed by Spain's ambassador to, Mr. Jesús Silva, about the negative impact on investors and their projects when stop orders are issued by parish councils or other regulatory agencies are not without merit. The overlap among regulatory agencies can easily create nightmares for - especially if there is inadequate information at the outset. The ambassador's comments cannot, however, be left to stand in isolation. For while the Jamaican public is appreciative of having projects up and running as quickly as possible, stop orders have usually been issued amid charges by local authorities that existing laws and regulations are being or have been violated.
In recent years, concerns about the impact of construction projects on the natural environment and the potential safety hazards posed to would-be patrons and employees have been brought into sharp focus. This stems as much from the fact that have become hot button topics for those who are genuinely concerned about all aspects of socio-economic development as to the reality that people are paying more attention to the nexus between these projects and theirs and their children's future quality of life public awareness and by campaigners have forced the Government's regulatory agencies to be more vigilant in how they carry out their duties. Of course, not every campaigner i with some appearing to be far more interested in jumping on to a bandwagon to gain publicity for themselves.
Nevertheless, with the public being witness to the spectacle of sections of hotel buildings collapsing with at least one fatality and workers sustaining injuries even before construction is halfway through, then occupational and environmental safety cannot be left to chance. Experience does not leave us confident that the assurance of businessmen can be taken at face value. So while it is understandable that Ambassador Silva has a great concern to see that the interests of his compatriots are addressed, local agencies also have a responsibility to Jamaicans first.
The ambassador also suggested that where investors and regulatory agencies are in dialogue, there is no need for the drastic action of a stop order which ultimately adds to the cost of doing business. Indeed, bureaucracy has long taken a toll on the cost-effectiveness of doing business in Jamaica. But dialogue should be constructive, leading to a resolution rather than serving simply as a means of buying time while regulations are still being violated. Unless there is evidence that new strictures are imposed after construction projects were started, then it is incumbent on investors to familiarise themselves with the country's regulations and for them to comply.
Being investor-friendly requires that Jamaica provides more than a smooth passage for businesses. It is possible, we believe, for investors to be helped towards a smoother implementation of their projects, for government and municipal agencies to get whatever fees they are due as regulations are complied with, and for patrons of facilities to use them with the full confidence that their safety will not be compromised.
In an increasingly litigious society, state-sector regulation and monitoring are also part of the cost of doing business. We are sure the ambassador understands this. The need for foreign investment is great, but safety and a holistic management of the environment are of an even greater imperative.
The opinions on this page, except for the above, do not necessarily reflect the views of The Gleaner. To respond to a Gleaner editorial, email us: editor@gleanerjm.com or fax: 922-6223. Responses should be no longer than 400 words. Not all responses will be published.
published: Tuesday | June 19, 2007
The concerns expressed by Spain's ambassador to, Mr. Jesús Silva, about the negative impact on investors and their projects when stop orders are issued by parish councils or other regulatory agencies are not without merit. The overlap among regulatory agencies can easily create nightmares for - especially if there is inadequate information at the outset. The ambassador's comments cannot, however, be left to stand in isolation. For while the Jamaican public is appreciative of having projects up and running as quickly as possible, stop orders have usually been issued amid charges by local authorities that existing laws and regulations are being or have been violated.
In recent years, concerns about the impact of construction projects on the natural environment and the potential safety hazards posed to would-be patrons and employees have been brought into sharp focus. This stems as much from the fact that have become hot button topics for those who are genuinely concerned about all aspects of socio-economic development as to the reality that people are paying more attention to the nexus between these projects and theirs and their children's future quality of life public awareness and by campaigners have forced the Government's regulatory agencies to be more vigilant in how they carry out their duties. Of course, not every campaigner i with some appearing to be far more interested in jumping on to a bandwagon to gain publicity for themselves.
Nevertheless, with the public being witness to the spectacle of sections of hotel buildings collapsing with at least one fatality and workers sustaining injuries even before construction is halfway through, then occupational and environmental safety cannot be left to chance. Experience does not leave us confident that the assurance of businessmen can be taken at face value. So while it is understandable that Ambassador Silva has a great concern to see that the interests of his compatriots are addressed, local agencies also have a responsibility to Jamaicans first.
The ambassador also suggested that where investors and regulatory agencies are in dialogue, there is no need for the drastic action of a stop order which ultimately adds to the cost of doing business. Indeed, bureaucracy has long taken a toll on the cost-effectiveness of doing business in Jamaica. But dialogue should be constructive, leading to a resolution rather than serving simply as a means of buying time while regulations are still being violated. Unless there is evidence that new strictures are imposed after construction projects were started, then it is incumbent on investors to familiarise themselves with the country's regulations and for them to comply.
Being investor-friendly requires that Jamaica provides more than a smooth passage for businesses. It is possible, we believe, for investors to be helped towards a smoother implementation of their projects, for government and municipal agencies to get whatever fees they are due as regulations are complied with, and for patrons of facilities to use them with the full confidence that their safety will not be compromised.
In an increasingly litigious society, state-sector regulation and monitoring are also part of the cost of doing business. We are sure the ambassador understands this. The need for foreign investment is great, but safety and a holistic management of the environment are of an even greater imperative.
The opinions on this page, except for the above, do not necessarily reflect the views of The Gleaner. To respond to a Gleaner editorial, email us: editor@gleanerjm.com or fax: 922-6223. Responses should be no longer than 400 words. Not all responses will be published.
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