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Stabroek News

Envoy: Do not fear Spanish investment
published: Monday | November 28, 2005

Janet Silvera, Gleaner Writer

WESTERN BUREAU:

"DO NOT fear invaders," was the potent parting shot of Spanish Ambassador Jesus Silva to western Jamaica's movers and shakers as he left the podium at the Montego Bay Chamber of Commerce and Industry Annual Awards Banquet on Saturday night.

Comparing the lucrative Spanish 'invasion' to the bauxite industry which invested approximately US$650 million (J$40.9 billion) in the country years ago, Ambassador Silva said the windfall should come with some 100,000 Spanish tourists by the year 2008, and another 300,000 European tourists.

"Companies from Spain are investing to the tune of US$1.3 billion, the biggest investment in Jamaica to date," he reminded the large group that took over the Ritz-Carlton ballroom in Rose Hall, St. James.

JOB CREATION

The ambassador, who has been in Jamaica for three months, summarised that the seven planned Spanish resorts will create 15,000 direct jobs and another 50,000 indirectly.

"An enormous number compared to the 40,000 people being currently employed by the sugar industry in Jamaica, which is now in a critical condition," he added.

He said future direct flights from Europe are currently being studied and other major investments related to the tourism sector have also been taking place in recent times.

The ambassador was responding to recent criticisms by Jamaican hoteliers who have said the Spanish will cheapen the Jamaican product, and the latest statements by Opposition Spokesman on Tourism, Edmund Bartlett, who said there were fears held by some local players in the tourism industry that their Spanish competitors may have been given unfair, competitive advantages.

Mr. Bartlett had also said that, as much as he encourages the expansion of the tourism sector through the involvement of foreign and local investors, it was crucial to the stability of the nation that the local investors are not marginalised.

Development Minister Dr. Paul Robertson responded, during the groundbreaking ceremony of the Palmyra Resort and Spa two weeks ago, that no special deals have been given to the top dollar investors currently constructing major hotels in the country.

Jamaica currently has a room capacity of 21,000. Within less than five years, that capacity is expected to increase by at least 45 per cent with the Spanish projects adding some 10,000 rooms.

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