Friday 30 October, 2020

'Lock It In', Michael Lee-Chin advises Jamaicans to invest now

Speaking at the second day of the Jamaica 55 Diaspora Conference in Kingston on Tuesday, Lee-Chin told participants “the conditions are right to make a great investment in Jamaica now.  Lock it in”.

Speaking at the second day of the Jamaica 55 Diaspora Conference in Kingston on Tuesday, Lee-Chin told participants “the conditions are right to make a great investment in Jamaica now.  Lock it in”.

Michael Lee-Chin, Chairman of the Economic Growth Council (EGC) has advised Jamaicans living on the island and overseas to invest in their country now. 

Speaking at the second day of the Jamaica 55 Diaspora Conference in Kingston on Tuesday, Lee-Chin told participants “the conditions are right to make a great investment in Jamaica now.  Lock it in”.

“Allocate 20 per cent of your long term savings in Jamaica, you will get far better returns on your money”, he told the audience of Jamaica-based participants and delegates representing Jamaican Diaspora communities in North America and the United Kingdom, primarily.

Pointing to the National Commercial Bank (NCB) which is owned by his AIC Limited, Lee-chin said that “the bank is doing phenomenally well because of the growth being experienced in Jamaica.”

He said that when the Prime Minister Andrew Holness asked him to chair the EGC in 2016, he set the goal of 5 per cent growth in 4 years (2020) and the country was well on the way to achieving this.

He credited the growth being achieved to “the cooperative efforts of various stakeholders.  Jamaica is today recording inflation at the historical low of under 4 per cent; we have a stabilized currency, and the full support of the various multilateral agencies.”

“High growth will create a revaluation of all of our assets in Jamaica, reduce crime, avert the poverty spiral, reverse immigration and help the country retain its brightest and best minds and reset societal values”, he declared.

Lee-Chin said that the EGC was “monitoring and motivating” various stakeholders to ensure that the goal of 5 per cent  of growth in GDP by 2020 was achieved and that with Jamaica now enjoying the highest confidence levels in over two decades “the table is set for growth”.

“If you do not get on the train now it is going to leave you”, he told Jamaicans urging them to take advantage of the opportunities like foreign investors are doing.”

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