MAY 19TH, 2018 – MAY 26TH, 2018
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VOLUME 14 - NO. 20
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HUGE CONSTRUCTION AND INVESTMENT BOOM By Todeline Defralien
T
he Turks and Caicos Islands is about to experience the biggest investment and construction boom in the history of these islands, according to the Premier Hon. Sharlene Cartwright-Robinson. In an exclusive interview with The SUN, the Premier said a significant number of jobs and opportunities will be created as a result of this boom which is expected to last for a number of years. “The economy is strong and even today I had meetings with two good investors who are fully financing their projects and we continue to have a number of investors who are flying here, so we expect a construction boom,” Premier Robinson said. “We expect a groundbreaking in July, we expect another one in September and we expect another major announcement soon in Providenciales.” The Premier could not quantify the cost of inward investment but noted that the people of the Turks and Caicos Islands will be very pleased with the high-end brands that are coming. In response to a question from this newspaper, the Premier said the expected construction and investment boom will be greater than what was experienced during the last such peak period under a former Progressive National Party (PNP) administration when the Turks and Caicos Islands earned the distinction of being the fastest growing economy in the Caribbean. “It’s very busy and I am pretty sure that it will be busier than back then,” she said. “This year alone we have a number of ground breakings that we expect and you would notice with me that even with Government projects I do cornerstone laying. So I have developers who are ready to go
Haitian nationals protest for sloops to stop!!
Haitians nationals in Turks and Caicos Islands came out in numbers on Friday May 18th to protest against the major problem of illegal sloops entering the country. The protest took place outside the Haitian Consulate on Leeward and say listen we want our detailed permission/our land permission before we even make an announcement because I don’t do false starts. The construction boom that is where we expect it, there is a lot of real tangible projects on the table and is moving and we’re looking at at least three more groundbreakings for big projects,” she added. “We’re poised to do well and I am very optimistic but cautiously optimistic, because when you have the announcement of public registers, when you have the possibility of a more active hurricane season, anything that deters our flights and stops our tourism product is of concern.” When asked by The SUN what is happening with Grand Turk and South Caicos in regards to construction, she said: “That is the problem with multiisland chains. For example, you would
Highway, Providenciales on a day which is normally celebrated as Haitian Flag Day. Resident of the Turks and Caicos Islands, John Phillip who also protested told The SUN, “We are doing a peaceful protest sending a message
see Nassau and Freeport moving ahead of all of the islands (in The Bahamas). Investors choose where they want to go, but it is for Government to put policies and initiatives in place to encourage them to want to go elsewhere. But when someone comes to the table and says that I want to go where the infrastructure/ market is and I don’t want the extra headache of transporting materials or having to have their guests go another way and take another flight, that’s the challenge.” However, Robinson revealed that under the new investment policy statement that she will be introducing soon to the public speaks more to particular type of projects for islands outside of Providenciales. “We heard of shovel-ready like Invest TC where persons present their
to the Haitian Government to tell them that we need them to take up responsibility through the Haitian Consulate and let them know that we are here as Haitians and we need someone to represent us and we are tired of the illegal sloops.” projects, so we want to do shovel-ready; for example we want a nice high-end dive resort for Grand Turk and we want a nice wellness type resort for Middle Caicos, but all of these islands we don’t want to develop like Providenciales, but you’re looking for an anchor project. You want to be able as a Government under this new investment policy statement to be able to present a full project with approvals to a developer who doesn’t want to go through all of that headache,” she explained. Additionally the Premier noted that the encouragement of the development ordinance and the stamp duty ordinance; the rates are much lower to encourage development outside of Providenciales. Continued on page 2
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