Claude Duncan, vice-president of JAMPRO (Jamaica Promotions Corporation Limited), says Montego Bay has been making great strides in selling the western city as an investment destination on the global market.
Duncan also noted that the Montego Bay Chamber of Commerce and Industry (MBCCI) was playing a pivotal role.
“We talk about selling Jamaica as an investment destination, but one of the good things Montego Bay has been doing is, selling Montego Bay as an investment destination,” said Duncan, while addressing business stakeholders at the Investment Packaging Business Forum, in Montego Bay, on Wednesday.
“In the United States, states compete for investment so it is a very powerful thing that the Montego Bay Chamber is looking at how we position Montego Bay,” said Duncan.
He endorsed the approach of the MBCCI in seeking to attract investment, saying the approach will help to position the city to attract attention.
“Remember, Jamaica sells by getting them looking at Jamaica and when that person comes down to Jamaica, you as Montego Bay want to sell Montego Bay as the place to put that project,” said Duncan. “You, however, have to recognise that when investors say they want to set up a manufacturing plant, say, ‘Don’t do it in Kingston, do it in Montego Bay.”
PLAY UP STRENGTHS
“Always play up your strengths to say here is why you think MoBay will be a good location, and, while we encourage every area to sharpen their thing and present Jamaica as a place to do business, do it in a way that don’t bad mouth or play down other areas of the country,” added Duncan.
The forum was designed to give stakeholders a platform on how to package their investment projects for market as well as focus on opportunities in tourism, mining, BPO and Agriculture.
JAMPRO used the occasion to outline its view that there are significant untapped opportunities in the region that if packaged properly, can add to the pipeline of projects leading to increased foreign and local direct investments. The topics presented included project financing, becoming investment ready, the approval process as well as the investor expectations.
“There are a lot of promotional efforts going on out there. Out there in the press is tourism, and we have done a great job at that. You have, ‘once you go you know’, ‘get all right,’ and that is fine, but we now have play up the business brand side so that people have to recognise that Jamaica is more than just tourism,” added Duncan.