Britain looking to invest heavily in Ja again.
ONCE JAMAICA’S most important investor country, Britain’s investment interest in Jamaica diminished in recent decades, with Spain and China taking over that role. However, a second British wave is about to burst on to the horizon, according to High Commissioner Asif Ahmad.
He told The Gleaner that a number of multimillion-dollar projects are being explored as Britain still sees Jamaica as a viable partner.
“It is good that investments are coming into Jamaica from countries like Spain and China, among others. It shows that the message is getting through that Jamaica is good for business, and I think it may have served as a wake-up call for Britain,” Ahmad stated.
The British high commissioner said that Jamaica stands to benefit from a massive £1.3 billion investment in a waste-toenergy project once it gets approval from the Government.
Ahmad disclosed that the interested company had already sourced funding for the project and will, in a matter of weeks, send the proposal to the Jamaican Government for consideration.
PROPER REFUSE PRODUCTION
“The idea here is to use both domestic and industrial waste, collect the garbage and rehabilitate the dump sites, including the Riverton City dump, to produce electricity. It’s huge, and it will address a long-overdue challenge here in Jamaica of proper refuse production and a formal way of treating the waste, which has become subject to nefarious activities, including illegal burning,” Ahmad said.
“I hope that the Government of Jamaica looks at the proposal seriously as it will, in fact, pay for itself and will also benefit the community as well.”
The high commissioner stated that Britain has always been a major investor in Jamaica, citing what he called “legacy investment”, and pointed to a series of ownership change in companies such as Cable and Wireless as a case in point.
“British investment has always been here. Look at some of the early pioneers of hotel groups. So yes, it’s been overtaken by Spanish investment, but if you look at the resorts on the north side of the island that are celebrating something like 60 years of existence, much of that is British-backed,” Ahmad said.
“Look at some other Jamaican companies, for example, whether it’s the likes of Jamaica Producers or people who run the ports here. There is also Mussons, and you can go on and on, many of them having their bedrock in the UK (United Kingdom).”