Labour Day was marked on Tuesday with the usual marching and rallying, topped off by fiery rhetoric from trade union leaders, directed as usual against capitalism and the government of the day.
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Young: Sandals plans finalised soon
The proposed plan for the construction of a Sandals resort in Tobago is expected to be finalised within a month and half.
This as Government intends to inject more finances into this country’s tourism sector, as one avenue for boosting an already challenged economy.
Making the announcement was Minister in the Ministry of Attorney General and Legal Affairs Stuart Young who was speaking at a Rotary luncheon held in Port-of-Spain yesterday.
“We are pressing hard ahead and we are hoping within the next month and a half to come to the public and tell you the results.
“And I can give you the assurance that in deciding on how to go forward the Government is very mindful of the rest of the tourism industry,” Young said.
He said the construction of such a hotel would also mean that money would have to be pumped into properly training locals to ensure world class standards are met.
“When it comes to tourism in T&T a big part is service and that is an active conversation I am having with Sandals. There is a massive industry to be spawned,” Young added.
He said there were also proposals for Sandals to partner with UTT to establish a training school which would in turn provide additional opportunity.
On the dwindling earning from the oil and gas sector, Young urged citizens to appreciate the gravity of the problem and encouraged young entrepreneurs to take advance of investment opportunities offered by the Government, in particular the agricultural sector.
“Some 92 percent of the oil and gas revenue has just dissipated over night. You hear people talking about diversification but if you look we have increased the incentives of the agricultural side.
People quite simply are not utilising the incentives because as a country we have become too dependent on Government-driven earnings and Government-driven contracts,” Young, who is also currently acting as the Attorney General said.
Regarding Government having been forced to dip twice into the Heritage And Stabilisation Fund, Young said a report was presented to Cabinet last week which showed that due to the returns from investment, the fund was now up to par.
Young also made it clear that Government had no intention of borrowing as this country’s debt ratio was too already high.
“But the only way T&T will succeed and come out of a slump is if every citizens is committed to doing what is right.
It is very easy to blame a government...to say they should build a drain here and give us more foreign exchange but the Government is really the caretaker of the treasury,” Young said.
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