The Urban Development Corporation and the JAMAICA Promotions Corporation (JAMPRO) have formally entered into a Memorandum of Understanding (MOU) that will be in place until March 31, 2021. 

The two Government agencies have agreed to work together towards “mutually identified programmes, investment promotions, and initiatives towards, inter alias and the facilitation of business development opportunities in Jamaica.” Both parties will work to promote and facilitate foreign and direct investment in key priority areas, to stimulate economic growth and job creation. 

It is anticipated that the MOU will see collaboration on marketing programmes, support the handling of queries, simplification of processes, organization of targeted business functions aimed at providing information on investment policies, and Government processes.

Speaking on the value of the MOU, Diane Edwards, President of JAMPRO said the Agency was pleased to partner with the UDC, as Jamaica seeks to attract more local and international investment. She said JAMPRO will be leveraging its strengths to manage the promotion of various projects, queries, and other requests, to encourage quick facilitation of investment into the island. She went on to say, “JAMPRO believes that collaboration is a guaranteed path to success, so we are of the view that this partnership will bring fruitful results for our economy and overall development.”

Key projects have already been identified as areas for collaboration between UDC and JAMPRO. They include marketing of eco-development projects including Goat Islands Wildlife Sanctuary and Two Sisters Cave, support with the marketing of all UDC land divestment and development Requests for Proposals (RFPs), and other commercial and investment opportunities. 

UDC’s General Manager, Heather Pinnock looks forward to seeing positive outcomes for development and investment by both local and foreign industry players. “This MOU can open many doors that will spur economic growth in Jamaica. The UDC, as the leaders in urban design and strategic real estate development, can further align its services with the overall objectives of the Government aided by JAMPRO, who are experts in the area of investment.” 

The MOU was formally signed JAMPRO’s offices on Wednesday 17, June 2020. 

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