JIS News

Story Highlights

  • Prime Minister Andrew Holness has announced that the Government will intensify its policy of full asset utilization.
  • Speaking at the Official Opening of Spanish Court Hotel in Montego Bay on Sunday, January 27, the Prime Minister underscored that the Government is moving to make it easier for persons to add a greater level of certainty to the economic environment.
  • “In the coming months, the Government will intensify its policy of full asset utilization. We will be looking at all the assets in the government’ portfolio and through a process that is competitive and transparent we will be making them available to the private sector, to persons who demonstrate the drive, the interest, the entrepreneurship, persons who are risk takers, to take these assets and make something of them for the people of Jamaica,” said Prime Minister Holness.

Prime Minister Andrew Holness has announced that the Government will intensify its policy of full asset utilization.

Speaking at the Official Opening of Spanish Court Hotel in Montego Bay on Sunday, January 27, the Prime Minister underscored that the Government is moving to make it easier for persons to add a greater level of certainty to the economic environment.

“In the coming months, the Government will intensify its policy of full asset utilization. We will be looking at all the assets in the government’ portfolio and through a process that is competitive and transparent we will be making them available to the private sector, to persons who demonstrate the drive, the interest, the entrepreneurship, persons who are risk takers, to take these assets and make something of them for the people of Jamaica,” said Prime Minister Holness.

In that regard, the Prime Minister reiterated that the Government, “will continue to create the environment in which our entrepreneurs can step up to the plate and play their part in creating the economic growth and prosperity which we all desire.”

The Prime Minister further stated that the process will be done through divestment, corporatization and public-private partnerships with some assets being listed on the local stock market.

In the meantime, the Prime Minister said there is a need for greater connectivity in the tourism sector. According to Prime Minister Holness, the benefits of tourism must be shared with the people.

“If you take away the block and steel, it is the people, it is the culture, it is our music, it is our language, it is our dance, It is all of that put together to form a package that distinguishes us from the rest of the world that makes people want to come here and enjoy. So, the industry must take an instrumental approach to ensuring that the benefits are shared; buy more Jamaican, employ more Jamaican entertainers, put them in your package, make people see them because that is what is going to create the value for your product. We must find ways to make tourism inclusive and beneficial to all the people of Jamaica,” stated Prime Minister Holness.

The 120-room S Hotel (Spanish Court) is located on the Gloucester Avenue in the tourist centre of Montego Bay, St. James. The Prime Minister described the opening of the hotel as “another significant investment and is part of the renaissance of the hip strip.”