Gov’t Investing $12 Billion in Agriculture; Looking to diversify Tourism Product  

• Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the Government is making the largest capital investment ever made in agriculture, with more than $12 billion programmed across fiscal years 2022/23 and 2023/24. He indicated that the provision is earmarked to build out irrigation, pumps, piping, storage and farm road infrastructure in St. Catherine, Clarendon, and St. Elizabeth.
• The Minister further informed that this is being done through the Essex Valley and Southern Plains Agricultural Development Projects. This will help to deliver high or value-added agriculture opportunities.
• Meanwhile, Dr. Clarke highlighted that the Ministry of Tourism is working assiduously to diversify the tourism product. “We are working to introduce higher-end integrated resorts, which require higher value-added, higher paying jobs,” he stated, adding that the Government is about to issue the first licence for integrated resort development.
• An integrated resort development must have a minimum of 1,000 hotel rooms, of which 500 must be luxury rooms. Additionally, the development must have a minimum capital investment of US$500 million.
• The concept was introduced by the Government in consideration of further expanding the tourism product. These luxury resort developments include but are not limited to, hotels, villas, sporting and recreational facilities, shopping centres and casino gaming.
• As travellers become more demanding and change their expectations of destinations, the diversification of tourism offerings is necessary. This will boost Jamaica’s global competitiveness and allow the industry stakeholders to successfully tap into new markets.

(Source: JIS News)