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Port Royal Welcomes First Cruise Ship

The historic town of Port Royal, in Kingston, welcomed its first cruise ship, the Marella Discovery II, on Monday (January 20).

It was also the first time that a ship was stopping at the newly constructed Port Royal Cruise Port, constructed by the Port Authority of Jamaica (PAJ).
After the ship docked at approximately 8:00 a.m., Ministers of Government, led by Prime Minister, the Most Hon. Andrew Holness, toured the new facility and welcomed the passengers to the island.

Addressing the media, Minister of Tourism, Hon. Edmund Bartlett, said this is a historic day for the country, which should bring many economic benefits.

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Confidence in Jamaica Leads to Investments – GAP

Mexican company, Grupo Aeroportuario del Pacifico (GAP), says the level of investments made in Jamaica is indicative of its belief in Jamaica and the country’s prospects for growth.

The firm officially took over management of the Norman Manley International Airport (NMIA) last October, through its local subsidiary, PAC Kingston Airport Limited (PACKAL), under a 25-year concession agreement.
Chief Executive Officer (CEO) of GAP, Raul Revuelta, said the investment decision rested heavily on the strides that Jamaica has been making.

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Ease of doing business fuels investments in Jamaica

The size of the Chinese investments in Jamaica is said to be around US$3 billion and growing, leading many persons to wonder what the attraction is. It turns out that it is easy for Chinese firms to set up shop in Jamaica, and they are loving it – even the test of wringing profits out of challenging businesses. That is the sentiment of China’s top diplomat for economic and commercial affairs in Jamaica.

Jianghong Fan, counsellor for economic and commercial affairs at the Embassy of the People’s Republic of China in Jamaica, told the Financial Gleaner in an interview that the operators of Chinese businesses – state-owned and privately run – are pleasantly surprised at how easy it is to incorporate and do businesses in Jamaica.

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Jamaicans Encouraged to Invest in Country

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, is encouraging citizens to take full advantage of the “unprecedented” period of economic growth by investing in the country.

“Now is the time to ensure that you invest in Jamaica. It is a time not to be missed, it is an opportunity that we have not had before, and there is a transformation that is occurring and those who pay attention and take advantage of opportunities, in a few years will be the ones who are ahead,” he said.

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Infrastructure Development Increasing Real Estate Demand

Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, is encouraging real estate professionals to prepare to meet the growing demand for realtor services in the coming years.

He noted that several infrastructural developments now under way, including the build-out of roads and highways, and other projects to come on stream, are creating increased demand for commercial and residential real estate.

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