JAMPRO Facilitates Us$200 Million In Local And Foreign Direct Investments, 6,500 New Jobs

The Jamaica Promotions Corporation (JAMPRO) recorded injection of US$200 million in Local Direct Investment (LDI) and Foreign Direct Investment (FDI) into the local economy during the last financial year and the creation of almost 6,500 new jobs.

Minister of Industry, Investment and Commerce, Hon. Audley Shaw, made the disclosure in his 2021/22 Sectoral Debate presentation in the House of Representatives on Tuesday (May 11).

He said that the development is despite the challenges of the coronavirus (COVID-19) pandemic.

He noted that the agency also facilitated more than US$755 million in traditional and non-traditional export sales for clients.

The Minister told the House that he has charged JAMPRO to intensify efforts to drive investment and trade in critical sectors as part of the recovery process.

He noted that during 2020/2021, JAMPRO facilitated 20 new projects and nine expansion activities, with the largest project being the Ocean Coral Springs Hotel and the Sangster International Airport runway and terminal expansion being the largest expansion activity.

Minister Shaw said that JAMPRO is employing virtual engagements to reach key target groups locally and internationally as part of its investment and trade promotion.

He noted that the agency has refocused activities on the manufacturing, outsourcing, and agribusiness sectors, as they were identified as having the best opportunities for resilience and growth within the constraints caused by the pandemic.

Source: JIS