Samuda urges organisation to attract investment

PRESIDENT OF the Jamaica Paralympic Association (JPA), Christopher Samuda, speaking on investment strategies in sport at an international forum currently being held in Santiago, Chile, reminded delegates that “capital likes a haven and avoids risks over which it has no control”.

The international forum, an outcome of a partnership between the United Nations Educational, Scientific and Cultural Organisation (UNESCO) and the Developnent Bank of Latin America and the Caribbean (CAF), has brought together ministers of continental governments, officials from regional apex sporting bodies and global corporate interests in discussions on inclusive sport, physical education, and investments.

President Samuda emphasised as critical determinants of attracting investments “a strong corporate governance culture, a transparent financial framework and an appetite to give the investor bang for the buck and an experience in sport”.

With growing competition for the sponsorship dollar and investors’ wallet and the increasing operational costs of sports, Samuda suggested to stakeholders that strategic action demands “investment in human capital in inspiring confidence and trust in competencies, ‘momentum investment’ that monetises successes in creating commercial appeal and sustainable investments in long-term corporate and generally stakeholder partnerships.” Samuda, in a “call to action”, expressed the hope that “emerging from these multilateral conversations will be the Santiago declaration of deliverables that will be sent to governments, international representative bodies, such as the United Nations (UN), the Organisation of American States (OAS), the African and European Unions, and national bodies for decisive action.”

The JPA and CAF are currently engaged in bilateral discussions in investing in the construction of a Paralympic high-performance competition and training centre in Jamaica that will serve local stakeholders (including the Olympic fraternity) and the Caribbean as Jamaica has been earmarked to be the hub of Paralympic development in the region.