Information Technology

Legal Environment
A 1996 U.S. Department of Commerce survey
of United States investors
identified government "red tape" as the single largest
obstacle to
investment in Jamaica. Other disincentives include high local
interest
rates, high utility costs, labor unrest (reduced from previous
years),
and occasional delays in foreign exchange conversion. Security,
both
against pilferage and against smuggling of illicit items (for
example,
drugs), has been cited as another major expense by some businesses.
Customs bureaucracy has also been cited as a problem by some;
however,
some actions are underway to improve procedures.1
The Legislative branch:of Jamaica's government
has a bicameral Parliament consisting of the Senate (a
21-member body appointed by the governor general on the recommendations
of the prime minister and the leader of the opposition; ruling
party 13
seats, opposition 8 seats) and the House of Representatives (60
seats;
members are elected by popular vote to serve five-year terms)
elections: last held 30 March 1993 (next to be held by March 1998) 2
Judicial branch: Supreme Court, judges
appointed by the governor general
on advice of the prime minister
The Jamaican government relies upon foreign
investment and offers a variety
of incentives for investments that facilitate foreign exchange
earnings
and savings, offer employment opportunities for Jamaican labor,
contribute to local infrastructure, or use local raw materials.
In
addition, other major attractions include low wage rates, proximity
to
the U.S. market, and preferential market access to the U.S. (through
the
Caribbean Basin Initiative - CBI), Canada (CARIBCAN), Europe (Lome
Convention, until year 2000), and the countries of the Caribbean
Common
Market (CARICOM).3
|
|
Next Topic |
| Back to Jamaica homepage | Return to INITEB home |