Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith, converses with Spain\u2019s Ambassador to Jamaica, His Excellency Jos\u00e9 Mar\u00eda Fern\u00e1ndez L\u00f3pez de Turiso, at Spain\u2019s National Day reception on Thursday (October 9). The reception was held at the Ambassador\u2019s residence in St Andrew. <\/p>\n
(Photo: R. Fraser )<\/p>\n
KINGSTON, Jamaica\u00a0\u2014\u00a0Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith, says Spain has played a pivotal role in assisting Jamaica to achieve its economic development goals.<\/p>\n
Speaking during Spain\u2019s National Day reception, held on Thursday at the Ambassador of Spain\u2019s residence in St Andrew, Senator Johnson Smith noted that Jamaica has, over the past decade, emerged as a model of sound economic management, fostering an environment conducive to business and investment.<\/p>\n
\u201cOn that path, it\u2019s important to recognise\u00a0those who have participated in the process. We, therefore, wish to recognise\u00a0the important contributions of bilateral partners\u00a0like Spain and, indeed, Spanish companies\u00a0for the achievement of our economic\u00a0and national development goals,\u201d the minister said.<\/p>\n
She identified investments in the tourism sector as a leading example of the fruitful bilateral partnership between Spain and Jamaica.<\/p>\n
In January, both countries formalised a Memorandum of Understanding (MOU) for International Cooperation on Tourism.<\/p>\n
The MOU seeks to deepen collaboration in gastronomy, human capital development, and resilience \u2013 reflecting the nations\u2019 shared commitment to sustainable growth and mutual advancement.<\/p>\n
Senator Johnson Smith expressed her appreciation for Spain\u2019s continued partnership with Jamaica, noting that Spanish investment in the tourism sector has surpassed US$2.5 billion.<\/p>\n
She emphasised that Spanish companies rank among Jamaica\u2019s largest investors, with several major projects currently under way across the island.<\/p>\n
The minister said these projects include the Grand Palladium Hotel in Hanover, which began in February.<\/p>\n
This development\u00a0will add 950 new rooms to Jamaica\u2019s tourism stock and include dedicated housing for 550 staff members.<\/p>\n
\u201cWe also welcome the fact that, given the green planning and design, the latest development will not only create thousands of jobs\u00a0but will enhance energy efficiency\u00a0and sustainability within the sector,\u201d Senator Johnson Smith stated.<\/p>\n
She emphasised that the expansion of Spain\u2019s economic cooperation\u00a0reflects a profound vote of confidence in Jamaica as a destination for investment.<\/p>\n
In his remarks,\u00a0Spain\u2019s Ambassador to Jamaica, His Excellency Jos\u00e9 Mar\u00eda Fern\u00e1ndez L\u00f3pez de Turiso, noted that trade and investment remain high on Spain\u2019s bilateral agenda.<\/p>\n
\u201cSpain is the fastest-growing economy in the Eurozone,\u00a0and this growth benefits Jamaica as well\u00a0through investments.\u00a0So for another consecutive year,\u00a0Spain has established itself\u00a0as one of the largest investors in Jamaica,\u00a0and the largest investor in absolute terms\u00a0in the tourism industry,\u201d the ambassador outlined.<\/p>\n
He pointed out that Spain\u2019s investments in Jamaica\u2019s hotel sector, particularly through established hotel chains \u2013 exemplify best practices in community involvement.<\/p>\n
\u201cMajor expansion projects, such as those of the Palladian Group, Princess and Bah\u00eda Pr\u00edncipe, will involve billion-dollar investments in the coming years, with a significant impact on employment and on the Jamaican economy,\u201d the ambassador stated.<\/p>\n
The diplomat noted that while tourism remains a cornerstone of Spanish investment in Jamaica, it is not the sole area of interest.<\/p>\n
\u201cCurrently, our companies are active in renewable energies, construction, consulting, healthcare, and logistics, among others. We believe this is a show of confidence in Jamaica\u2019s economic strength,\u201d\u00a0Ambassador L\u00f3pez de Turiso outlined.<\/p>\n
\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0JIS<\/p>\n","protected":false},"excerpt":{"rendered":"Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith, converses with Spain\u2019s Ambassador to Jamaica, His…\n","protected":false},"author":2,"featured_media":217577,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-217576","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/217576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=217576"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/217576\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/217577"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=217576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=217576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=217576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}