Jamaica’s Tourism Minister, Edmund Bartlett, says investment interest from the Middle East is growing in the Caribbean and next month more than 40 investors from that area of the world will be in the region.
“I was able to have discussions with partners, whom I brought here earlier this year, and they are reviewing how they look at the Caribbean in terms of supporting the region with investments,” Bartlett said.
He noted that, traditionally, countries focused on creating loans and aid “which take an eternity to happen, but the thinking now is that they want to support the Caribbean with investment. So, a special investment fund is being established for the Caribbean.”
Bartlett said early in July “over 40 of them (potential Middle East investors) are likely to be in the Caribbean, and Jamaica is inserted in that process, so we must get our projects together and go and have discussions with those investors”.
Bartlett said Emirates Airlines, the largest airline in the Gulf Coast countries, is selling seats to Jamaica.
“This arrangement, a historic first for Jamaica and the Caribbean, opens gateways from the Middle East, Asia, and Africa to our island and the rest of the region,” he added.
The Jamaica government says the island will be recording the “largest wave of tourism development and expansion” in its history as it announced plans for the development of a sustainable framework and strategy for the sector.
Minister Bartlett told Parliament that the aim of the strategy is to enhance the resilience of the industry and increase its sustainability during times of crisis.
Bartlett told legislators that a total of 8,500 new hotel rooms are set to come on stream within the next five years including the 2,000-room Princess Resort in Hanover, which will become Jamaica’s largest resort.
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