Jamaica, International Financial Centre?

By: - June 19th, 2011

Jamaica has strong potential as an international financial centre, according to Eric Crawford, chairman of the Jamaican International Financial Services Authority.

“It’s a very high value-added industry everywhere it exists,” he said at the Diaspora Convention in Ocho Rios this week. “The wealthiest countries in the world are international financial centers, and Jamaica has a very good shot at making a success of an international financial centre.”

Crawford said the annual registration fees required to establish companies and other entities are significant, and would mean additional taxes for the government. He pointed to several wealthy countries, like Bermuda, which has the highest per-capita income in the world.

“This financial centre will be targeted at international markets — it will not be targeted at Jamaicans or Jamaican businesses,” he said.

–Jamaica Information Service

Jamaica

Chinese Firm to Build Cayman Port

A CHEC visit to the Bahamas earlier this year (Photo: CHEC) Cayman Premier McKeeva Bush said he expects to sign an agreement with a Chinese developer to build a new port in George Town. The company, China Harbour Engineering Company, is working on a number of projects in the Caribbean. In April, China Harbour signed […]

Jamaica

Miami Nightclub Promoter Michael Capponi Has Big Ideas for Haiti

Above: a rendering of Capponi’s proposed hotel Miami nightclub promoter and businessman Michael Capponi has a number of high-profile plans for entering the struggling Haitian market. Capponi, who made his name promoting nightclubs like LIV and B.E.D., wants to change the tourist market in Haiti. “I think we can revitalize this country completely and make […]

Jamaica

Jamaica's Stern: Time for More Intra-Regional Trade

CARICOM must improve intra-regional trade if it is to address the problems stemming from the global downturn, Jamaican Minister for Industry, Investment and Commerce Michael Stern said yesterday at the University of the West Indies. “The reality is that we must explore new avenues to grow our economies in full recognition that we are operating […]

China's Lequan Visits New Bahamas National Stadium Project

 Bahamian track legend Thomas Robinson with Wang Lequan (BIS Photo/Gena Gibbs) China’s Wang Lequan, member of the Political Bureau of the Central Committee of China’s Communist Party, visited the new Bahamian national stadium this week, which was a joint Sino-Bahamian project. The Queen Elizabeth Sports Centre is still under construction. –Bahamas Information Service

Barbados, Jamaica Transport Ministers Meet on REDjet Licence

 Jamaican Transport Minister Michael Henry is meeting with his counterpart from Barbados today to discuss a growing row between the three countries over REDjet’s application to fly into Jamaica. The meeting follows two significant events in the Caribbean airline market — a controversy over the alleged detention of a Caribbean Airlines plane in Barbados, and […]

Golding Tables Bill to Amend Intercepted Communications Act

 Bahamian track legend Thomas Robinson with Wang Lequan (BIS Photo/Gena Gibbs) China’s Wang Lequan, member of the Political Bureau of the Central Committee of China’s Communist Party, visited the new Bahamian national stadium this week, which was a joint Sino-Bahamian project. The Queen Elizabeth Sports Centre is still under construction. –Bahamas Information Service

Jamaica's Reggae Boyz Singing a Happier Tune for Caribbean Football

 Above: Demar Phillips (Photo source: CONCACAF) By Alexander Britell In the face of an ongoing FIFA scandal, Jamaica’s Reggae Boyz are bringing the sport’s attention to the West Indies in a far more positive light. With the football world’s eyes trained on CONCACAF’s bribery allegations, Jamaica’s national team is turning heads with an undefeated record […]