News
TCI: Premier: Budget Supplementary & $14.5 Million Stimulus Passed in HOA
#TurksandCaicos, March 25, 2021 – The Premier and Minister for Finance, Investment and Trade, Honourable Charles Washington Misick laid the Supplementary Appropriation (2020/2021) (No.3) Bill 2021 in the House of Assembly of the Turks and Caicos Islands on Monday, 22 March 2021.
The Bill which is the third (3rd) Supplementary Appropriation Estimates for the financial year 2020-21 progressed to passage on Monday to provide additional funding for the Turks and Caicos Islands Government in the summation of $14.5million USD. Funds were relocated under this Bill, in the amount of $6.7m from Government savings to the recurrent expenditure to facilitate the payment of the citizens’ economic stimulus. $3.0million USD in funding was also shifted from the Contingency Fund for the purpose of the Citizens’ Relief economic stimulus. The cash grants for citizens and MSMEs affected by the COVID-19 pandemic, have increased by 37.5 per cent to the amount of $27.9million USD.
The retirement benefits allocation has increased by $1.8m, primarily to settle outstanding payments of gratuity and pension to former legislators. Therefore, the recurrent expenditure has increased to $273.6m and the capital expenditure reduced to $27.5m. The revised expenditure is $307.4m, an overall reduction in expenditure of $1.0m.
“My Government has made the calculated decision to cancel a number of capital projects which were stagnated, for the purpose of an in-depth review of project costs and environmental impact; and the funds were subsequently reallocated. Additional funding has been allocated to complete ongoing projects that experienced delays due to further deterioration of the structures and additional costs resulting from TCIG having to enact the Force Majeure Clause in the civil works contracts because of the COVID-19 pandemic lockdown. Also, additional resources have been assigned to advance projects currently in the evaluation stage,” explained the Premier and Minister for Finance on the approved Supplementary Appropriation.
Premier Misick further added, “A major focus of my Government is to take care of our people during these difficult times by keeping the population healthy and safe while strategically rebuilding a sustainable economy.
The $11million USD allocated solely to the Citizen Relief economic stimulus will provide the much-needed financial assistance for Turks and Caicos Islanders who through the COVID-19 pandemic have been forced into debt due to temporary unemployment or termination of employment. The Ministry of Finance has sensibly reallocated funds to progress critical projects and to provide additional funding in the areas that will greatly improve and impact the lives of the people of these islands”.
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.
#TurksandCaicos, May 13, 2024 – Detectives of the Serious Crime Unit of the Royal Turks and Caicos Islands Police Force have
charged a man who allegedly stole a vehicle.
The accused, DANVANTE BRISCO, 30, of Kew Town, Providenciales, was charged with:
- One Count: Robbery
- One Count: Taking Motor Vehicle Without Authority
- One Count: Using Offensive Weapon to cause fear
Mr. BRISCO appeared in court today (May 13 ) and was granted bail of $7500.00 with one surety.
The matter was adjourned to July 05 for a Sufficiency Hearing.
#TurksandCaicos, May 13, 2024 – A 20-year-old Dock Yard male appeared in court today (May 13th) charged with a series of firearm-related offences.
The accused, JAMES SIMON, was denied bail and remanded into custody pending a Sufficiency Hearing scheduled for July 05th, 2024.
Mr. SIMON faces the following charges:
- One Count: Robbery;
- One Count: Gang Membership
- One Count: Possession of a Firearm for the Benefit of a Gang
- One Count: Possession of Ammunition for the Benefit of a Gang.
The charges against Mr. Simon followed investigations by officers of the Royal Turks and Caicos Islands Police Force into a robbery at the parking lot of a Casino where three males robbed a victim.
Additionally, Mr. Simon is charged with the following offences, having been arrested on May 02nd, 2024, along South Dock Road.
- One Count: Possession of a Firearm
- One Count: Possession of Ammunition
- One Count: Unlawful Entry
Officers also charged a teenage minor who was in the company of Mr. Simon on May 02nd with One Count of UNLAWFUL ENTRY.
The accused, seventeen and from Kew Town, Providenciales, pleaded guilty and will be sentenced on May 20th.
-
Health1 week agoAstraZeneca withdraws COVID vaccines after millions took their jabs
-
Caribbean News5 days agoBelize, Jamaica and St. Vincent and the Grenadines eliminate mother-to-child transmission of HIV and Syphilis
-
TCI News4 days agoEquity in Energy says Bahamas Energy & Transport Minister in legislative roll out
-
TCI News4 days agoFamily of 16 tourist claims negligence in Grand Turk jet ski death; Coroner’s Court hearing evidence
-
Caribbean News5 days agoMagnetic Media attends Caribbean Media Summit, in focus AI in Journalism
-
world news6 days agoElectricity Access for 600 Million a goal of UN Sustainability Week
-
TCI News3 days agoAMERICAN MOTHER AND DAUGHTER ALLEGEDLY ARRESTED FOR TWO BULLETS
-
Bahamas News4 days agoThe Bahamas Successfully Hosts Its Fourth World Athletics Relays