Energy and tourism sectors receive major boost

KINGSTON, Jamaica, Monday February 27, 2012 – Jamaica’s tourism and energy sectors are in for a major boost as plans for several projects advance.

In the area of tourism, the Fiesta Hotel in Hanover is expected to increase its capacity by 1,000 rooms this year, while those for the construction of the Marriott Hotel in Kingston are at an advanced stage.

This was revealed by President of JAMPRO, Sancia Bennett Templer who added discussions were also underway to finalise financing for the Harmony Cove development in Trelawny.

However, new developments in the energy sector are expected to attract a spanking new JA$600 million power facility, approved by the Office of Utilities Regulation last year.

Ms. Bennett Templer said she believed the Jamaica Public Services’ JA$30 million development in Maggoty in St. Elizabeth was expected to start in the near term, as government continues its focus on foreign direct investment as a key feature in economic growth.
 
She added that there were major investments into Jamaica from China and Spain within recent years, and noted that there were plans to continue working closely with the Ministry of Foreign Affairs and Foreign Trade to identify prospects in various countries.

The president further noted that Jamaica’s near shore advantage to the United States made it a place of interest for Indian firms, even as investors in Latin America and the Caribbean were being targeted. Click here to receive free news bulletins via email from Caribbean360. (View sample)2