Earl Jarrett, general manager of the Jamaica National Building Society (JNBS), is asserting that despite the consistently high crime rate in Jamaica, the trend will fall because of the social initiatives and policy changes being implemented in the island state.

Jarrett contends that the current statistics should not be a deterrent to Jamaicans living overseas, who want to invest in Jamaica.

Speaking at a cocktail reception ahead of the JNBS Outlook for the Future forum in New York last Friday, he argued that the decline is "the inevitable surprise".

Positive signs

"The fight against crime is long term, and the Government continues to make headway in curbing this monster," Jarrett stated. "Legislation has been passed to make electronic evidence admissible in court and, just recently, several police officers were arrested for corruption and the Police Commissioner (Rear Admiral Hardley Lewin) moved for the retirement of several members of the police force in the public interest."

Jarrett argued that these were positive signs that the Government was taking hold of the debilitating situation.

While conceding that the crime statistics were a cause for concern, he argued that social and economic initiatives of the government, "implemented to improve the economic and social conditions of the country will, in the long term, reduce crime".

Jarrett held that the decline was inevitable, citing social policy changes and government initiatives, including the widening of the social safety net and educational reform.

"The spin-off of initiatives such as these has steadily been resulting in incremental improvement in the educational and economic status of our people," he told the group.

He informed the attendees about the establishment of the Young Entrepreneur Programme (YEP) being launched by the Government to encourage and fund small and micro businesses among almost 60,000 tertiary graduates leaving school in July.

Development indicators

Jarrett said investors should look closely at these and other development indicators and not be deterred by the crime statistics.

He listed several direct investment opportunities in areas including agriculture, entertainment and transport, which are suited to Jamaicans in the Diaspora, and pointed out that despite declining global trends, Jamaica's tourism arrivals were increasing.

The reception was a part of the Outlook series of events, which are being held to facilitate dialogue with Jamaicans in the Diaspora and are hosted under the theme 'Economic Imperatives for Jamaica 2009'.