Jamaica: Co-chair of government’s Economic Programme Oversight Committee (EPOC), Richard Byles

The co-chair of government’s Economic Programme Oversight Committee (EPOC), Richard Byles, says there is growing interest part private sector stakeholders in investing in Jamaica.

“Additional and additional, there is enthusiasm…You see it in the Jamaica Chamber of Commerce business confidence survey. At the same time as you talk to the private sector, there is a lot additional optimism and hope being expressed. I think a lot of of them feel that the worst is behind us and the economy has a luck to grow,” he said.

Byles was speaking at EPOC’s monthly briefing before this week.

His comments came against the background of the recently released Bank of Jamaica figures showing increased credit allocation to the private sector.

“For the period, January to December 2015, the increase was 9.6 %. At the same time as you look at the consecutive 12-month periods before, it was 7.8 % (in 2014) and four % (in 2013). That’s a good indication that the private sector is picking up on their investments,” Byles said.

He noted that stakeholders’ “major concern” relates to bureaucracy within the National agencies with which they do business, and which they have expressed a desire to see reduced.

But he said that was not likely to discourage persons from investing. “If the markets are there, they will,” Byles said.