GLOBAL CRISIS NEEDS TO BE ADDRESSED THOUGH REAL INVESTMENT IN DEVELOPING COUNTRIES … PM Golding:

FOR IMMEDIATE RELEASE

MARCH 19, 2009

GLOBAL CRISIS NEEDS TO BE ADDRESSED THOUGH REAL INVESTMENT IN DEVELOPING COUNTRIES ... PM Golding:

Prime Minister Bruce Golding says a message that countries like Jamaica need to send to the G20 when they meet in London in April and to the Summit of the Americas when they assemble in April, is that if the world is to be secured, it must be done through the kind of policies that encourage real investment and growth for developing countries.

He said the developing world, of which Jamaica is a part, represents the market for as much as 67% of the output of the developed world. But he said if the world is to be secured and the global economy is to grow in a sustainable way, it must be done through the kind of policies that  encourage development and improvement in the lives of the people in these countries .

Mr. Golding was speaking last night at the launch of the Sandals Foundation at Sandals Royal Caribbean in Montego Bay.  The Foundation says its goal is to unite the Caribbean region under one common umbrella to elevate its people and protect its delicate ecosystem.

The Sandals Foundation will seek three broad headings of community, education and the environment.

Mr. Golding said the message that the Sandals Foundation is sending through its goals and objectives, is also one that is needed at this time because of the global financial crisis.

He said the developed world cannot just draw a curtain and shut out the developing countries. ‘If the global economy is to grow so that we don't fall off the cliff, then they (developed countries) must see to it that despite where people live, through the kinds of policies that encourage development in these countries, you not only boost the market for the output and the goods and services, but you ensure the stability of the world in which we live'.

Programmes such as the Sandals Foundation and the Citizens Security and Justice project, were contributing to the effort of bringing communities together. He said the ‘Sandals Foundation is rebuilding hope and restoring people's confidence in themselves. It is a tremendous initiative and we want to support it and hold it up as a template to other corporate entities. This is not just charity. It is a powerful investment in the future of our country', Mr. Golding said.

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