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The Voice

Investors talk profits and linkages
published: Friday | October 8, 2004

Nagra Plunkett, Staff Reporter


PHOTO BY CLAUDINE HOUSEN - President of the Jamaica Promotions Corporation (JAMPRO), Patricia Francis delivers welcoming remarks at the opening of Partnership Roles and Opportunities for Investors in Tourism (PROFIT) conference in Montego Bay on Tuesday

WESTERN BUREAU: INVESTORS FROM across the world descended on the shores of Jamaica to participate in discussions with members of the Caribbean and international tourism industry to facilitate meaningful business ventures in the region.

A total of 109 pre-qualified wide-ranging project proposals will be showcased, with Jamaica having more than half of these submissions.

"I think our chances of success are very good. We see tourism as being the lifeblood of the economy in our country for the future and particularly if we take it seriously," said Pat Francis, president of Jamaica Promotions Corporation (JAMPRO) in an interview on Wednesday. "We believe that the multiplier for our country is great and that is why we are trying to encourage Jamaican companies to increase the level of competitiveness of the product and services that they are offering, to move to global standards and to become players in this industry."

REBOUND

Some 336 delegates converged at the Ritz-Carlton Golf and Spa Resort in Rose Hall, St. James for the Partnership Roles and Opportunities For Investors in Tourism (PROFIT) partnership conference, which began on October 5 and ends today. The meeting was geared at partnering project proposals, bankers and investors.

The Caribbean Hotel Asso-ciation, the European Union, in association with JAMPRO, were organisers of the event.

Mrs. Francis explained that if local companies thrived in supplying services in the tourism sector then there is the prospect of selling services regionally and globally.

She also pointed out that even when there is a downturn in the industry, it is able to rebound much faster because of its resilience.

Wykeham McNeill, State Minister for Tourism chaired the tourism leaders outlook session by Philip J. Pierre, tourism minister for St. Lucia and Hilson Baptiste, Antigua's Minister of Tourism, Culture and Environment.

Participants queried tourism-related issues concerning room expansion, incentives and bureaucratic red tape in the Caribbean region.

'ONE-STOP SHOP'

"We are trying very hard to make the linkages and to create a one-stop shop," Mr. Baptiste commented in reply to the disclosure of numerous problems experienced by a contractor, building an airbase for the United States army in that country.

There were commendations for the St. Lucian government's hospitality to a foreign developer, who said the government eased the burden of paperwork for their project.

In describing St. Lucia's growing tourism market, Mr. Pierre said that there has not been a currency fluctuation in more than ten years as they "try to attract capital from financial institutions that have track records and reliability."

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