As we approach the end of the ProInvest investment conference, what is your evaluation of the event? Have your goals been achieved?

Yes, we have accomplished the beginning of a process through which we can bring buyers and sellers together. Essentially, it is the beginning of a relationship-building process. Even though expectations were different coming into the conference, we have achieved 100% satisfaction rate. It is a strong base on which to build.

How does Jamaica differentiate itself within the Caribbean context?

Jamaica has a particular cultural identity that no other country has. It is a distinct lifestyle associated with the name Jamaica. Our name is a global name which has grown through tourism, sports, entertainment and brand building.

Therefore we do not see other island destinations as being competitors – they are in fact complementary and form part of our great Caribbean community. In this manner, we are seeking to increase the size of Caribbean business within the world market, instead of simply fighting to increase our own market share.

Do you believe that the Cricket World Cup is an example of this cooperation?

Absolutely. It will be a phenomenal lift for the Caribbean and an unbelievable opportunity to transform its image into a high-profile region that can host world-class events.

Yet, is it not discouraging when companies like the Barceló hotel chain take more than three years to invest in Jamaica?

Barceló has been quite slow to make a decision, and they have to bear some responsibility for the delay. In fact, during the three-year period during which Barceló was meeting with us, we have signed eight other deals with large hotel investors.

I am not discouraged and I am confident that we will sign a deal with Barceló very soon.

Last year GDP growth was only up at 2.4%. This is not as high as you would like – so what are your efforts to re-activate GDP growth?

Jamaica went through a major recession in the mid-1990’s, which was created by a national financial crisis. Our financial institutions collapsed and the government decided to absorb 100% of the losses of those institutions, which created a large debt that pulled down our economy. As a consequence of this, there was also a huge fall-out in the private sector. In subsequent years, we went through a transformation process that involved the collection of debts and the sale of state assets – and slowly we climbed out of our negative position, while setting up regulatory measures and correctly managing the liberalisation of the economy.

The net result is that our private sector is now stronger than ever. Jamaican companies now have the strength to compete on a global basis; they are profitable and are ready to expand internationally.

Although we are not satisfied with 2% GDP growth, we understand that this is part of an economic cycle. In 1995, foreign direct investment reached US$35 Million. It has increased almost every year and last year we reached US$720 Million in FDI. So we have rebounded and come out stronger and more efficient. Today business confidence has returned to the economy, and we expect steady growth in the coming years.

What is the role of JAMPRO in the Tourism Master Plan?

Our role is to attract investment in the accommodation, attractions and linkage industries. We are also here to ensure that foreign direct investment has a direct impact on the economy, not only in the creation of employment but also for the integration of our industrial development strategy.

The tourism industry supply chain involves the production of goods and services that can have direct linkages with the local economy. In light of the relative scale of our tourism market, we believe that local production for the tourism sector represents an opportunity for the supply chain industry to manufacture quality goods on an international scale. Thanks to the size of our tourism sector, we can then have the competitive advantage to supply regionally and globally for the tourism industry.

For example, right here in the Montego Bay Free Zone, the Apple Vacations call centre is selling vacations in Mexico, Dominican Republic and all over the region. Meanwhile, our contact centres and back-office operations are running the back offices of numerous U.S. companies. Therefore the linkages are widely spread across the economy, giving an opportunity for hotel chains and tour operators to run their business directly from here, and to manage their HR and reservations systems through the modern telecommunications platform that already exists in Jamaica. This is in fact building on relationships that are created and building a business synergy stemming from our tourism sector.

JAMPRO won the award for Best Small Economy Investment Promotion Agency this year. What is the secret of your success?

Innovation has played a big part. We have focused on our customers and evaluated their needs, then re-created our organisation around new services that were designed to serve those needs.

We have also realised that we cannot be an organisation that is all things to all people. While we have developed a delivery mechanism that is both call-centre and web-based in order to deliver universal access to our services, our core services are directly delivered by professionals to our core clients. In this manner, we are having a greater impact, our output is higher, customer satisfaction is much higher and we can quantify and measure our results.

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