Edmund Bartlett, Opposition Spokesman on Tourism, claimed on Wednesday that Jamaica is losing J$55 -J$65 million annually due to the slow pace in completing the Harmony Cove project in Trelawny.
During his contribution to the annual Budget Debate in Parliament, Mr. Bartlett urged the government to complete the project as it will have to fork out billions of dollars to investors if the decision is made to terminate it. Mr. Bartlett said, under the joint venture members agreement, if the Government is responsible for the project being derailed, the investors will have to be paid US$32 to US$50 million in compensation.
An agreement between Harmonisation Limited and the Tavistock Group was signed in September 2006 for the development of the multi-billion dollar resort. The government’s stake in the project, which is managed by Harmonisation Limited, was in the form of 2,200 acres of prime beach front land. Tavistock’s role was to prepare the master plan, organize the financing, and construct and market the development.
ROOM COUNT
Mr. Bartlett is also calling for an audit to determine the number of rooms in the local tourism sector. He said this is necessary to determine the room stock that is in need of upgrading and the level of investment required for the industry. He said the process should involve the Tourism Enhancement Fund and the financial sector to create a pool of funds to enable small- and medium-sized properties to upgrade and refurbish.
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