September 17, 2007

Jamaica to become offshore banking hub

Following the election of the new Prime Minister, Bruce Golding. The Jamaican government have plans to add their country to the list of the already successful offshore banking islands in the Caribbean.

The island has had mixed fortunes over the years but recently due to slow growth and a rise in crime they have been suffering. However things have changed now there are plans to redevelop the islands capital Kingston.

With these promises the Prime Minister needs to show some realistic improvements on crime, employment and the problems associated with slow growth, which all together play a major part in the plans. Proper employment would result in less crime and improve growth, while law enforcement will make people feel safer and therefore encourage outside investments and tourism.

Sounds simple, but in reality it never is.

Source [The Australian]

Filed Under Economy