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Jamaica set to Achieve Economic Objectives PM tells Delegates
Attending Diaspora Conference
Prime Minister P.J. Patterson has told delegates attending the
first Jamaican Diaspora Conference in Kingston that Jamaica was
well on the way to meeting its objective of transforming the economy
into one that is knowledge-based, generating value-added exports
and sustaining wealth creation. He said this was being done by using
local, regional and foreign private investment as a strategic tool
to meet the development goals of building human capital, improve
productivity, increase job creation, technology transfer and export
diversification.
The Prime Minister was speaking at the opening of the conference
at the Jamaica Conference Centre on Wednesday (June 16). Over 250
delegates from the United States of America, Canada and the United
Kingdom are attending the conference.
Mr. Patterson said the country's prospect for sustainable economic
development have never been better as several sectors were experiencing
recovery and growth. He said the Government's rescue of the financial
sector has ensured that Jamaicans both at home and in the Diaspora
did not lose investments held in approved financial institutions.
"The regulatory system now in place has brought the sector
up to world-class standards so that your remittances and savings
are safe, secure and profitable," Mr. Patterson stated.
The Prime Minister also told delegates of the modernization and
expansion of the country's physical infrastructure including roads,
water supply systems, telecommunications and air and seaport facilities.
He also spoke of developments in the tourism sector where projections
in foreign exchange earnings have surpassed expectations, as well
as the US$690 Million expansion of the JAMALCO bauxite plant over
the next three years which should result in a 20 per cent increase
in bauxite revenues.
Mr. Patterson said however that there were several challenges impacting
the country, many of which are the result of globalisation and global
trade negotiations which threaten to further marginalize developing
economies. He said education was a concern and encouraged delegates
to engage in a full and meaningful discussion on the matter during
the conference.
The Prime Minister said also that crime and violence remains a challenge
both in terms of the international narcotics trade and the incidence
of violence at differing levels in the society. He said the increasing
number of deportees was an issue adding that crime would not necessarily
be curtailed if persons felt they would not have to pay the full
penalty for their actions but simply be deported.
Mr. Patterson expressed appreciation to the Jamaican Diaspora for
their practical and invaluable support for Jamaica. He said that
despite years of residence overseas, many Jamaicans continue to
maintain close links with their homeland through varying types of
organizations and have consistently supported educational institutions,
hospitals, children's homes and homes for the aged. He said their
response in times of disaster has always been tremendous.
The two-day conference ends on Thursday with a dinner and dance
at the Hilton Hotel. The Hon. Alvin Curling, a Jamaican and Speaker
of the Legislative Assembly of Ontario, Canada will be the Guest
speaker.
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