A Groundbreaking Agreement on the Horizon
Exciting news is on the horizon as Guyana and Jamaica gear up to sign a historic agreement. The Georgetown Chamber of Commerce and Industry (GCCI) and the Jamaica Stock Exchange (JSE) are set to ink a Memorandum of Understanding (MoU) during the upcoming three-day Regional and Investments Conference in January. This significant event will take place at the Jamaica Pegasus under the theme ‘Safeguarding the Capital Markets Conference’.
What does this agreement entail, and why is it so momentous? Let’s delve into the details:
- The signing of the MoU holds critical importance for both Jamaica and Guyana as they work towards advancing the development of their capital markets.
- Dr. Marlene Street Forrest, the Managing Director of the Jamaica Stock Exchange, expresses eagerness and excitement in charting a course that could potentially lead to the integration of regional capital markets.
Dr. Street Forrest emphasizes the positive impact the MoU will have on the economies of both countries. By expanding and developing stock markets, numerous opportunities will arise, benefiting the Guyanese economy, businesses seeking capital for growth, and investors looking to support these expanding ventures. It’s a win-win situation for all involved.
Leading the charge in Guyana is Mr. Kester Hudson, President of the GCCI, who will be spearheading Guyana’s delegation to the event in January. Dr. Marlene Street Forrest will represent Jamaica as she leads the initiative for the JSE. The signing of the MoU is scheduled to take place during the JSE’s Regional Conference on Investments & Capital Markets from January 21-23, 2025.
The significance of this agreement extends beyond just the local sphere. The MoU is expected to motivate local businesses and attract foreign firms to participate in the regional stock market and broader economy. Dr. Street Forrest envisions a promising future for Georgetown and Kingston as they move forward with this collaborative effort, reaffirming the JSE’s commitment to fostering growth and development within the region.
In addition to its economic implications, the upcoming signing of the MoU will play a crucial role in strengthening relationships within the Caribbean Community (CARICOM). Dr. Street Forrest highlights the positive impact it will have in creating more opportunities for businesses in Guyana and its regional counterparts.
As the clock ticks closer to the signing of this historic agreement, the stage is set for a new chapter in the evolution of capital markets in the Caribbean. Stay tuned for the exciting developments that lie ahead.
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