Audley Shaw: More Wealth Needed To Tackle Jamaica’s Crime And Poverty

If the Jamaica is to be untangled from crime and poverty then the government has to take steps to create wealth for citizens, that’s according to Minister of Industry and Commerce, Audley Shaw.

The Minister was speaking at the official investor briefing for the first rock investment holdings.

Minister Shaw says the country must have a united approach to unleash the full growth of the economy. He adds that the junior stock market was always promising as it relates to potential benefits it could create for the country’s economy.

He says though the International Monetary Fund, IMF had advised the government to close the junior stock, the decision to keep it has amplified the growth on the economic.

Shaw says improving the quality and productivity of workers will enable the government’s vision to provide workers with access to more earnings and to encourage the spiral growth of the economy.

He commends the first rock capital holdings for creating investment opportunities and contributing to the growth of the sector.

First rock capital holding is a real estate and private equity company that is focused on investment in real assets.

CEO Ryan Reid, says Jamaica,the US, Cayman and Costa Rica are the most ideal jurisdictions for the company.

However a number of financial agencies including Jamaica Money Market Brokers, JMMB and Victoria mutual advised potential investors to “underweight” the stock.

While the potential for outsize profits exist through the development projects that first rock is engaged in, the overall risk of the portfolio remains high.

 

– Christeen Forbes