First Look

Opening remarks by JTB Chairman at announcement of new Hotel Construction Investment

Ministry of Tourism | 2015-11-16 00:00:00

Let me begin by welcoming Frederik Moe and Carlos Moleon to the Jamaica Tourist Board- the agency responsible for regulating our tourism product and for promoting destination Jamaica.

I also welcome the members of the media who play such a vital role in our society.

Mr. Moe and Mr. Moleon are here this morning to announce their new hotel investment in Jamaica. I welcome them both as partners in our thriving tourism sector.

Jamaica enjoys a reputation as a strong global brand rooted in our natural beauty, unique culture and vibrant people. All of these make us an outstanding competitor in the international travel market.

This is the environment in which this new investment is being undertaken - another very, very positive sign of the unprecedented expansion that is underway in our tourism industry.

Jamaica’s economic reform programme has laid the foundation for stability, confidence and competitiveness which are key ingredients of a business friendly environment.

Specifically, I refer to: the comprehensive tax reform programme; reduction in inflation; reduction in interest rates; and reduction in the national debt.

Jamaica has implemented an internationally competitive general income tax regime which promotes the conduct of business in the country.

All this has involved painful adjustments by the people - all of us have felt it. But now we are beginning to see, by way of these investments, as well as our improved credit rating, the results of all the sacrifices we have made and indeed are still making.

I speak of expansion in hotel rooms which translates into jobs, production of local goods and services, foreign exchange earnings to pay for our essential goods and revenue to pay for vital public services.

So the fruits of the economic programme are evident. In this regard I must mention the work of the Minister of Tourism and Entertainment, Dr. Wykeham McNeill, who has been very proactive in seeking investors and partners.

I now invite Mr. Moe and Mr. Moleon to give details of this exciting new project which they are undertaking.

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