Business
Jamaica: More growth expected in energy and tourism sectors
Jamaica is poised for major development in the tourism and energy sectors, with plans advanced for several projects to be undertaken over the short-term.
Addressing a recent Jamaica Information Service Think Tank, President of Jamaica Promotions Corporation (JAMPRO), Sancia Bennett Templer, said that the projects will boost Jamaica’s position as a major destination for doing business.
In terms of tourism, she informed that the Fiesta Hotel in Hanover will be increasing capacity by 1,000 rooms this year, while plans are advanced for the construction of a Marriott Hotel in Kingston.
In addition, discussions are underway to finalize financing for the Harmony Cove development in Trelawny.
As it relates to energy, the JAMPRO President mentioned the Jamaica Public Service’s (JPS) new US$600 million power facility, which was approved by the Office of Utilities Regulation (OUR) last year.
“I believe JPS is also doing a US$30 million development at Maggoty in St. Elizabeth and so there are significant developments on the horizon, which should commence in the near-term,” she stated.
Meanwhile, as the government continues to focus on attracting foreign direct investment (FDI) as a key feature of economic growth, Mrs. Bennett Templer said that the agency will be diversifying its geographic reach.
