Some blame our current economic crisis on our inability to attract foreign capital. Historically, our ability to attract foreign capital was based on our abundance of cheap labour, water and ridiculously low taxes on foreign investment and lax environmental laws.

With the advent of super-large mechanised plantations elsewhere in the world and cheaper labour, foreign capital retreated from sugar and banana production in Jamaica. Similarly, foreign investment in bauxite mining was attractive because of our cheap labour, cheap land, cheap water and lax environmental regulations.

The hotel and tourist industry, the third leg of our economy, continues to be attractive to foreign investors because we still have an abundance of clean water, cheap labour and laws that allow the exploitation of our beaches, rivers and people.

Now that cheaper and more efficient labour can be found elsewhere and exploitation of our environment and diminishing natural resources are becoming more difficult, Jamaica is losing its attractiveness as a haven for foreign investment.

I am, etc.,

R. OSCAR LOFTERS

lofters1@aol.com

Kingston 8