Speaker 1

A pleasant good afternoon to my audience, teacher and my fellow competitors. Today I would
like to light my views supporting foreign investment.

The Government of Jamaica (GOJ) considers foreign direct investment (FDI) a key driver for
economic growth and in recent years has undertaken macroeconomic reforms that have
improved its investment climate.
Foreign investment up to 100 per cent is allowed under the automatic route in all sectors.
Basically foreign investment is a purchase of an interst in a company by a company. Generally
the foreign investment is used to describe a business decision to acquire a substantial stake in
a foreign business.

Have you ever wondered how important foreign investment is ? Well it is very important
especially to creates new jobs and more opportunities as investors build new companies in
foreign investment. Foreign investment boosts the manufacturing and services sector and
boosting the overall economy of a country.

Jamaica has continued to pursue fiscal consolidation to reduce its debt to GDP ratio. This is
expected to put the country’s debt to GDP on track to reach the 60 percent target by the fiscal
year 2027/28. The economy is widely projected to rebound in fiscal year 2021/22, growing by a
relatively robust 5.2 percent, while inflation will remain within the four to six percent range
In Jamaica, 2012 the average investment rate was over 160.45USD milions, it has now
increased tremendously at a high of 273.82USD millions. In Jamaica the foreign investment that
is attracting the most is bauxite, telecommunication, tourism and the construction areas.

I know for a fact foreign investment is best because it fosters and maintains economic growth, it
also is the transfer of technology. It also promotes competition in the domestic input market,
which means that the foreign investment gains employee training in the course of operating the
new business.
I rest my case, thank you for listening.