50 years ago: Investment climate very attractive

This week in Cayman

The Oct. 11 edition of the Caymanian Weekly, a precursor to the Cayman Compass, included the following story:

“At the conclusion of his week’s visit to the islands, Mr. S. Morey-Bell, Economics Officer and 2nd Secretary of the U.S. Embassy in Kingston, told our reporter that he has had a wonderful time. Everyone had been helpful far beyond the call of duty and thus his stay had been a pleasure as well as very profitable. He was also particularly glad to have had an opportunity of getting over to Cayman Brac.

“Mr. Morey-Bell said that the purpose of his visit was to make a basic survey of the structure of the economy of the islands and their potential for private foreign investment. This is the first such survey undertaken in recent history by the United States. It was undertaken firstly because the embassy in Kingston acquired jurisdiction over the Cayman Islands for consular purposes about one year ago, and in the natural course of events this would be done, and secondly a number of enquiries had been received in the U.S. about Cayman – which indicated that there is some interest among investors – to which requests the embassy responded.

“He told the Caymanian Weekly that his reaction is favourable and the potential for private American investment is very substantial, i.e., the investment climate is very attractive.

“Some of the problems that the economy here has, e.g., lack of a deep water harbour and the mosquito control programme which affects the tourists, are not in my opinion, insuperable and would not injure the investment climates,” Mr. Morey-Bell said.

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“Asked by our reporter about the reports he would be making, it was ascertained that the principal report would be made to the U.S. Department of Commerce and would be published under a title such as ‘A Profile of the Cayman Islands.’ Private businessmen in the U.S. read the Department’s publications all the time and thus information about the islands would be disseminated throughout the States. Other minor reports would be made to various Departments of State concerned with foreign affairs.”

The same edition also carried the following brief story, titled “Wed in Tampa”:

“Elizabeth Anne Jackson, whose origins are in the Cayman Islands, became Mrs. Lee Andrew Gregory, in a marriage ceremony performed by the Rev. Billy Barber at the Culbreath Chapel of the First Baptist Church in Tampa on Sept. 16.

“Elizabeth Anne, the daughter of Mrs. John E. Jackson and her late husband (Ernest), was given in marriage by her grandfather, Mr. MacNeil Jackson.”

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