Join the conversation:

Jamaica's Industry Minister Welcomes $400 Million Investment from Toyota

Jamaica's Industry Minister Welcomes $400 Million Investment from Toyota

Posted by Shanelle Weir on February 03, 2015

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, has welcomed Toyota Jamaica Limited’s $400 million investment in its new branch, which is expected to create 140 new jobs for Jamaicans.

“That this investment should be made now in Jamaica, I think, supports and underpins the… growing confidence of investors in the Jamaican economy and the opportunity for Jamaica to grow its economy through Foreign Direct Investments, (and) job creation,” he said.

The Minister was speaking on Wednesday (January 28) at the ground breaking ceremony for the company’s new branch at 91a Old Hope Road in St. Andrew.

Minister Hylton said that through the continued expansion of its business/investment portfolio, Toyota Jamaica is demonstrating the level of confidence it has placed in the future of the country.

“So, in their assessment, the market is here, and will be growing and… like the Government and others, they are confident about the growth in the Jamaican economy,” he said.

Japanese Ambassador to Jamaica, His Excellency Yasuo Takase, said the undertaking is a reaffirmation of the high priority the Japanese private sector places on improving the automobile industry in Jamaica.

“This is certainly an important economic activity that the Government of Japan is proud to endorse. We remain a solid and committed partner to the people and Government of Jamaica,” he said.

Mr. Takase further noted that the Government of Japan is committed to continuing its support for private sector initiatives to expand its economic relations with Jamaica.

“We are looking forward to working together with private sector, exemplified by Toyota, towards a common goal of enhancing the friendly relations between our countries across the board at all levels,” he said.

Managing Director, Toyota Jamaica, Tom Conner, assured that “Toyota is in Jamaica for the long haul.”

He said the decision to construct the new branch came after “listening to the voices of customers,” who had difficulties getting to the company’s Spanish Town Road head office.

The facility, he said, will provide new vehicle sales, parts and service, with focus placed on after sales and providing better quality service overall.

The construction of the 26,000-square foot facility is expected to be completed in one year. During this phase, 100 jobs will be generated. An initial staff of 40 will be employed when the branch opens in 2016.

A subsidiary of Toyota Tsusho Corporation, Toyota Jamaica is the sole authorised distributor for Toyota and Hino vehicles in Jamaica.

This new location will be the company’s third branch in Jamaica. The second is located in Ironshore, Montego Bay.

 

Link To Full Article: 

Facebook comments



Monthly newsletter featuring articles hand picked by our country managers from the best content across PanamericanWorld.



Monthly newsletter featuring articles hand picked by our country managers from the best content across the Caribbean Region on PanamericanWorld.

PANAMERICANWORLD COUNTRIES