TCI News
TCI braces for scrap metal trade but must also brace potentially for scavengers
#Providenciales, August 16, 2019 – Turks and Caicos – The PDM Administration announced in the House of Assembly last week that it is creating an environment to encourage the export of scrap metal; Premier Sharlene Robinson rolled out the plan in her ministerial statement.
“Mr. Speaker, Turks and Caicos Islanders will not only have an opportunity to strive but thrive in the exportation of scrap medals.”
Three significant incentives, for the removal of scrap metal have been announced by the Premier as: “…approved through cabinet a policy to incentivize the removal of Scrap Metal from the TCI for a period of twelve (12) months; My Government has set the rates of cargo dues payable during the period of the policy to zero percent for a period of twelve (12) months and my Government has set the rate of security dues payable during the policy period to zero percent for the first six (6) month of the twelve (12) month period.”
Zero rates to export the eyesore of derelict vehicles, for example, is likely to be welcomed news; and admittedly for the Premier, cleaning the country up is a major driver for the decisions.
“The Turks and Caicos Islands currently does not have in place an effective and enforceable regime for the disposal of imported vehicles that are at the end of their useful lives. As a result, vehicles are abandoned and left at mechanical workshops or remain on the owner’s premises. Mr. Speaker, it is not uncommon to see abandoned vehicles in vegetated areas along streets and unpaved roads throughout the Islands. These vehicles would soon become derelict/ scrap metal. Mr. Speaker, these conditions constitute a defacement of the environment becoming an ‘eyesore,’ bringing down community aesthetics and a breeding ground for mosquitos, rodents and pests. Consequently, our health is threatened.”
But there is a caveat worth the mention here; regional neighbours have found that this lucrative industry has created a new kind of crime.
Jamaica found the increased rate of theft for metals like copper soared and in 2011, scrap metal trade was banned there. A recent announcement hinted at a return of the scrap metal industry to Jamaica, but with stringencies.
Jamaica’s Minister of Industry, Anthony Hylton is quoted in media saying, “Any proof of theft of scrap metal that is exported by the company will result in stiff penalties and cancellation of the licence to export,” he said. “The penalty will be J$5 million and the company will have to post a bond of $5 million.”
It is not just Jamaica, but Antigua, Grenada, Montserrat and The Bahamas which were all sent reeling as the scavenging was so serious that historic sites were robbed of copper artifacts and utility companies, like BahamasTelecommunications, were hit in the hunt for copper wire. BTC was robbed of a reported $1 million in copper.
Payouts for scrap metal continue to soar; it is a good industry and sensible, profitable business.
Imagine being paid for computer motherboards, car alternators, aluminum sheets and cans, steel or cars, which iScrapp lists as attracting $110.00 for a complete car.
Scrap metal is big business and Premier Robinson, said her campaign promise was to ensure more islanders got a bite at big business.
“Mr. Speaker, my Government was approached by several persons in the community seeking ways to partner with the Government to assist in the removal of scrap metal and derelict vehicles. My Government immediately explored possibilities and created a policy which would assist in meeting the environmental challenges whilst creating opportunity for the local businesses.”
The TCI must obviously ensure its laws discourage illegal activity in this new scrap metal industry, but for now, the Premier is calling it a ‘win-win’ for business and environment.
#magneticmedianews
#tciscrapmetaltrade
#potentialscrapmetalscavengers
Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.
Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The
development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.
Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.
Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.
Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.
Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.
The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.
Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of
IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”
He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”
Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”
The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion
Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.
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