News

Finance Minister Welcomes Engagement With G20

Published

9 years ago

April 15, 2015

WASHINGTON DC, April 14 (JIS): Minister of Finance and Planning, Dr. the Hon. Peter Phillips, has welcomed the opportunity for the Caribbean to engage with the powerful G20 to highlight and address some of the peculiar challenges that are impeding the progress of countries in the region.

He was addressing the first Caribbean Regional Dialogue with members of the G20 Development Working Group on Monday (April 13), as part of the World Bank and International Monetary Fund (IMF) Spring Meetings now underway in Washington DC.

Jamaica was asked to co-chair discussions on the challenges confronting Caribbean countries at the meeting with the G20 Development Working Group.

Dr. Phillips, in his remarks at the start of the meeting, said the session will be of great value to the Caribbean, because it is the first time there has been engagement between the Caribbean and the G20 in an organised fashion.

Dialogue of this nature, he contended, allows for the opportunity to bring to the attention of the G20 countries and the Development Working Group, the specific conditions of the Caribbean region, which he identified as low growth and high debt.

He noted that the Caribbean is still suffering the effects of the crisis of 2008-09, pointing out that the consequences of that crisis are impeding the region’s capacity to grow, particularly because of the high debt.
“This first contact, I think, is important and it will be the first of a number of contacts. We are grateful to the Turkish authorities, who are President of the G20 this year and the Chinese, who will preside next year. During these engagements, we’ll have to collaborate with the G20 to examine some practical solutions to the issues facing the Caribbean,” he said.

“We should also be grateful to the Trinidadian authorities, who took an active part on behalf of the Caribbean in this regard. This dialogue will continue and there are specific areas in which practical solutions can be brought to the table to benefit the Caribbean,” he added.

Last October, Dr. Phillips urged the G20 to make good on its promise to assist the Caribbean region to mitigate the effects of the recession of 2008. Speaking during a Caribbean breakfast and caucus meeting in Washington DC, Minister Phillips expressed concern that the group of major economies has not kept its promise to provide financial support to assist the region.

“We continue to suffer because the expectations that were generated in 2008, coming out of the first meeting of the G20 nations, for resources to alleviate the plight of the region that was hardest hit by the crisis, have been unfulfilled,” he stated.

Dr. Phillips said there is urgent need for the G20 to fulfil its promise, citing the region’s high debt burden, climatic vulnerabilities, along with energy insecurities.

The G20 Development Working Group was established in 2010, and is responsible for implementing the G20 Development Agenda, which includes increasing financing for infrastructure investment in developing countries.
The G20 is a forum for the governments and central bank governors from 20 major economies. The members include 19 individual countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, The Russian Federation, Saudi Arabia, South Africa, Turkey, United Kingdom, United States and the European Union.

Dr. Phillips is leading Jamaica’s delegation at the IMF and World Bank Spring Meetings, which provide a forum for discussion among governors of central banks, high-level authorities of member countries, representatives of multilateral financial institutions and development agencies.

The Jamaican delegation also includes Financial Secretary, Devon Rowe; Governor of the Bank of Jamaica (BoJ), Brian Wynter; Wayne Robinson also of the BoJ; Director General of the Planning Institute of Jamaica (PIOJ), Colin Bullock; and head of the IMF Coordination Implementation Unit in the Ministry, Judith Reid.
The summit will end on Sunday, April 19, 2015. While in Washington,

Dr. Phillips will meet with representatives of the IMF, World Bank, and the US Treasury.

Related Topics:g20 jamaica peter phillips

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News

InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group

Published

4 days ago

May 14, 2024

Deandrea Hamilton

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.

Crime

Male Charged with Robbery

Published

5 days ago

May 13, 2024

Deandrea Hamilton

#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.

Crime

Dock Yard Male Charged

Published

5 days ago

May 13, 2024

Deandrea Hamilton

#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 05^th, 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 02^nd, 2024, along South Dock Road.