NOTEWORTHY
Published:Wednesday | June 23, 2010 | 12:00 AM
No offshore banking
Proposals for Jamaica to become an offshore financial centre has been put on the back burner since Don Wehby went back to GraceKennedy. I say this because I haven't heard anything further on the matter for sometime.
Having said that, I hope the implementation never materialises, as it is not going to succeed and basically would have created more problems and wasted taxpayers' dollars. Simply put, we have no competitive advantage in the area of financial services when compared to the other countries that currently occupy this area of global commerce.
The Bahamas is currently a tax-free jurisdiction for both individuals and companies, Jamaica is not. There are more than 250 licensed banks and trust companies which include leading institutions, from Europe and North America, providing a range of financial services in the Bahamas. Jamaica is not a tax-free jurisdiction and only five or so international financial institutions operate here.
- Audley Gilpin Jr
Repeating mistakes
I recently read, with dismay, an advertisement by Petrojam for bids to do offshore drilling/oil exploration. Can they really be paying so little attention to world events?
First, global warming should, by now, have us all convinced that fossil fuels is not the way to go. In fact, their continued use may be slowly killing us and altering our weather patterns. Second, we are blessed with a land rich in natural, non-toxic resources for power production (solar, wind and water).
Third, the crisis in New Orleans - and other places in recent history - should be like alarm bells to us.
I urge all Jamaicans to protest this foolhardy plan and nip it in the bud.
- Naomi Zuckerman
No visionary leaders
As we continue to bemoan the decline of West Indies cricket, we cannot help but note that many of the contributing factors to the slump in the region's brand of the game are to be seen in the lack of development and integration in the region's social and economic landscapes.
It has been the longest while since I have heard some tangible, positive news surrounding CARICOM or the Caribbean Single Market and Economy. This region has suffered for want of visionary leaders, who are willing to challenge the status quo and facilitate fresh and vibrant thinking towards maximising the region's resources.
Tony Cozier, in his latest article, published on the Cricinfo website, for no apparent reason (but the biased insular mindset), seems to be advocating that the recent slide in West Indies cricket ought to be placed squarely at Chris Gayle's feet since he became captain. Why won't Cozier, Fazeer Mohammed and others place the blame where it must be (at the feet of the administrators)?.
- Dave A. McFarlane