Trinidadian companies are stepping up their investments in Jamaica as they look for ways to navigate foreign exchange challenges at home.
The latest move comes from the Global Brands Group, which has invested just over US$1.2 million to open a new Church's Texas Chicken outlet at Mall Plaza in St. Andrew.
Trinidad and Tobago's foreign reserves have fallen to $4.6 billion, while Jamaica's remains above $6 billion, a key factor driving T&T firms to expand abroad.
Director Anthony Sagba-Aboud says Global Brands plans for the growth in Jamaica.
The company previously operated here between 2002 and 2005 under a different franchise.
This latest investment follows another by Trinidad's Prestige Holdings, which spent more than US$1.5 million to open its second TGI Friday's location in Portmore.
Global Brands Chairman Mario Sagba-Aboud says investing in regional markets with easier access to foreign exchange, including Jamaica, has become essential for T&T businesses.
In another sign of growing Trinidadian interest, Agostini Limited is now working to acquire Massy Distribution Limited from Massy Holdings.
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