Meliá Braco a Solid Investment – Dr. Ferguson

Labour and Social Security Minister, Hon. Dr. Fenton Ferguson, has welcomed the opening of the National Insurance Fund (NIF)-owned Meliá Braco Village, expressing confidence that its operation will bring solid returns on the investment by the fund.

The Trelawny-based property, being operated by the Meliá Hotels International chain under a 15-year lease agreement with the Government, was officially opened on January 7.

“I welcome to our shores, the Meliá group and is confident that given their track record and experience in tourism management, that their confidence and potential will assist this resort to soar,” he said.

He pointed out that the partnership with Meliá for the management of the Braco facility will benefit the National Insurance Scheme (NIS) contributor. Benefits from the NIS are funded by the NIF.

The Minister, in the meantime, emphasised the need for more Jamaican workers to contribute to the NIS. He noted that NIS is not a tax, but an important contribution to a more secure future.

He also appealed for employers to register with the NIS and ensure that the appropriate deductions are made in a timely manner to benefit the workers.

“By the year 2030, Jamaica’s contributory social protection coverage is projected to be in line with international standards. We will only achieve this milestone if, as a people, we agree that it is of critical importance that we save as a country for our future well-being,” Dr. Ferguson said.