FOREIGN DIRECT INVESTMENT (FDI)
Foreign Direct Investment, or FDI, is a measure of foreign
ownership of domestic productive assets such as factories, land and
organizations. Foreign direct investments have become the major economic driver
of globalization, accounting for a significant portion of all cross-border
investments.
The Jamaican Government is relying on the inflows of FDI to
boost infrastructure development and provide significant backward linkages which
will have a multiplier effect on economic development
The Finance Minister Dr Peter Phillips announced the
following portfolio of investment projects during his presentation of revenue measures to finance the 2012/13
budget . The Projects includes:
• North South Highway link (Angels to Ocho Rios)
• Port Facilities Enhancement.
- Jamaica is preparing to take advantage of our strategic location
and the possibilities arising following the reopening of the Panama Canal
- Container Terminal
- South Terminal –Gordon Cay
- Fort Augusta - Logistics Hub and Business Centre – Fort
Augusta –
MOU signed with China Harbour
• Tourism
- Harmony Cove (US$1.0 billion)
- Fiesta Hotel (US$500mn)
- Marriott Hotel Kingston (US$20mn)
- Expansion of Riu Hotel in Montego Bay
The GOJ will accelerate projects in the public sector that
are currently underway. Cabinet took decision to move on the North South link
and the Fort Augusta port project, developments vital to survival of the country.
• DBJ line of credit – J$1B small business
• Expressions of Interest – 2000 additional hotel rooms by various
investors
• Norman Manley International Airport and Sangster International
Airport which are projected to attract US$100M in investment to implement
proposed extension of runways and infrastructure upgrade; and,
• Kingston Lifestyles Centre; which is expected to yield a
Gross Output of J$14.4B during the
construction phase and estimated to
generate revenue of J$15.8B annually.
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