Saudi Arabia explores investment opportunities in Jamaica.

6577031 Prime Minister Andrew Holness (left), makes a point of interest to H.E. Badr Al Badr (second right), deputy minister for investors outreach – Kingdom of Saudi Arabia while looking on are (from second left) Alok Jain, chairman of Port Authority of Jamaica; Edmund Bartlett, minister of tourism and Senator Aubyn Hill, minister of industry, investment and commerce at the Jamaica

The Kingdom of Saudi Arabia is one of the world's top twenty largest economies. They have a G.D.P of Eight Hundred billion US dollars, which positions the country to always be seeking out new investment opportunities. On Friday, July 8, 2022, Saudi Arabia Deputy Minister of Investors Outreach H.E. BADR Al BADR led a small delegation on a special visit to Jamaica, after his trip from the Dominican Republic to discuss investment prospects in Jamaica. He stated that the Caribbean has become a priority zone for investments and business partnerships for Saudi Arabia and Jamaica as the third-largest economy put them on the top of the list. 

He was among an eighty-member delegation of government representatives and investors from Saudi Arabia that came to Jamaica on Friday. The visit comes a day after the Saudi-Carib investor's forum in the Dominican Republic.  Edmund Bartlett, Jamaica's Minister of Tourism, states that the visit comes as a result of two and half years of discussion with the kingdom of Arabia. The Prime Minister of Jamaica posits that Jamaica is placed to receive a ray of investment. The contingent is particularly interested in tourism, business processing outsourcing, technology, and warehousing.  H.E. BADR Al BADR also stated that they are looking for attractive incentives. He pointed to the concession that they receive in other countries for twenty and thirty years. If they could get like fifty years in Jamaica, it would open other opportunities like access to skilled laborers and health care workers for Jamaica. The government also stated that they will be seeking out other investment opportunities despite the threat of a global recession.  

Source: TVJ News

Picture: Rudolph Brown ( The Gleaner)

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