Finance Minister, Audley Shaw, says the Chinese firm, Jiquan Iron and Steel, JISCO, is set to make an unprecedented USD$6-billion investment in Jamaica which will create thousands of jobs.
Minister Shaw made the disclosure during his contribution to the 2018/2019 Budget Debate in the House of Representatives this afternoon.
Minister Shaw says thousands of jobs will result from the JISCO investment.
Minister Shaw did not give a timeline for the investment. However, he says the project is exciting.
Minister Shaw is demanding that banks comply with a request for them to more swiftly pass on reductions in interest rates to consumers.
In a wide-ranging presentation, the Finance Minister also rejected suggestions from the Opposition that the Government’s decision to shift to indirect taxation hasn’t been working.
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