Susan Gordon, Staff Reporter
SILVA
SPAIN WILL be the number one investor in Jamaica in 2006, said Ambassador of Spain, Jesus Silva.
The Ambassador made reference to the Spanish hotel chain, Riu which has already invested approximately US$250 million over the last five years in Jamaica. Spanish hotels plan to invest a total of US$1.3 billion in the island by the end of this year. That level of investment would make it the biggest single source of investment capital for the island in total.
Mr. Silva was speaking at a press conference on the international exposition, Zaragoza 2008 which is to take place in Zaragoza, Spain commencing in March 2008.
The theme of the exposition is 'Water and Sustainable Development', and is likely to cost US$600 million according to Director for International Participants for Zaragoza 2008, Juan Correas.
Mr. Silva is very upbeat that the event will widen the ambit of Spanish investment in Jamaica and particularly so because Kingston has taken a leading role in co-ordinating the exposition. Continuing today from yesterday the first international planning forum on the exposition is being hosted at the Hilton Kingston Hotel, in New Kingston.
Representatives of the CARICOM states and the organising committee of World Expo 2008 in Zaragoza Spain were at the meeting, and were introduced to the design of the CARICOM Pavilion which received its first international unveiling.
"This means an enormous opportunity for Jamaica to introduce itself to Europe and to market the region," he said. "There will be new opportunities for partnership and investments in Jamaica," he added, noting that CARICOM states will have an outstanding presence there. The Caribbean region he explained was targeted because of the relevance of the theme to the countries and the variety or spice it can offer.
NEW DIMENSION
"We are discussing the CARICOM projects so the countries can prepare their pavilions," said Mr. Correas. He believes the Spanish-Jamaican integration fostered by the exposition, will add a new dimension to Jamaica's already attractive and developed tourism product.
Government agents such as the Ministries of Foreign Affairs and Foreign Trade, Water and Housing and Jampro are involved in the planning process. Over 60 countries are expected to be represented at Zaragoza 2008.
