Saudi Arabian investors will be overseeing potential investment opportunities in Jamaica. This stems from the backdrop of the inaugural two-day Caribbean summit which started on Wednesday (July 5) and will be wrapped up the following day.
Tourism Minister, Hon. Edmund Bartlett will be attending the summit and will be hoping to woo investors to invest in the island. This entire showcase will take place on Friday (July 8) and Mr. Bartlett will be spearheading this entire process.
“We are excited about the prospects of being able to show them the different investment options in the Corporate Area, in Montego Bay, and elsewhere, and that out of it will come foreign direct investment… straight investment in the economy of Jamaica,” He stated.
Asia-Caribe Relationship
Hopefully, the summit being held in the Dominican Republic can be fruitful enough to benefit both Jamaica and other Caribbean islands and Latin America. Over the last decade, China has proved that Latin America and the Caribbean are largely underdeveloped.
They have invested heavily mainly in infrastructure projects which is pivotal to any economy. What’s an economy without good bridges, roads, dams, transportation systems, etc.
This investing will likely continue unless something dire happens geopolitically and they are banned from doing so. The possibility has been growing for such an event to happen due to the situation with Taiwan and the United States of America. For now, different regions in Latin America and the Caribbean are having fruitful relationships with China.
Saudi Arabian investors, it seems are also seriously looking at the potential the Caribbean region can provide over the long term. Even though the investments seem more commercial than infrastructure, I am assuming they will be beneficial nonetheless. All these investments from Asia show the ties that are forming between Asia and the Caribbean.
Since Asia is being looked upon as the continent of the future where capital will flow and opportunities arise, it is being touted as the economy of the future. Expect to see lots more Asian activity in the Caribbean over the next coming years.
To put it more broadly, Eastern activity on a whole, because prominent African countries as well have been looking at opportunities in the Caribbean region to collaborate and see how it goes.
It’s going to be interesting to see how these relationships develop over time.
