RBSC

Collapse

Announcement

Collapse
No announcement yet.

Sass: Lee Chin, investors push Port Antonio resurgence

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Sass: Lee Chin, investors push Port Antonio resurgence

    Lee Chin, investors push Port Antonio resurgence
    published: Saturday | November 3, 2007


    Spanish Ambassador Jesús Silva (right) gets a spectacular view of Portland's Blue Lagoon aboard the helicopter on the return trip from Portland last Friday. National Commercial Bank's Chairman Michael Lee Chin toured his tourism-related and other investment projects with the ambassador, Member of Parliament Daryl Vaz and The Gleaner.- Photo by Barbara Ellington

    PORT ANTONIO, Portland:
    Jamaican billionaire and businessman, Michael Lee Chin, is spearheading a team of investors, who along with other local interests in Portland, are seeking to rebuild the image and potential of that parish - reminiscent to its former glory days.

    Born in Portland, Mr. Lee Chin explained to business operators, hoteliers and other interests, last week, that during the past 40 to 50 years, Port Antonio has been neglected. A fact, he says, must no longer be tolerated.
    He pointed out that changes have to be made to the parish infrastructure, which is why the construction of the $200 million state-of-the-art courthouse at Bryan's Bay is an important part to that change.

    "The design and fashion of the courthouse will set a standard as to the type of buildings, which are required for Port Antonio," said Mr. Lee Chin.

    two main buildings
    "Port Antonio is getting two main buildings, the new courthouse - along with the restoration of the old courthouse. We are hoping that both initiatives will catalyse citizens of Port Antonio to take charge of their own plot," he added.

    The construction of a new courthouse became a reality after the old one was damaged by fire more than three years ago. The loss of the courthouse resulted in undue hardships on not only the police, but also ordinary citizens who have been forced to travel 18 miles to Buff Bay for court sessions and in some instances, 23 miles to Manchioneal.

    But the courthouse construction is only the tip of the iceberg, as Mr. Lee Chin explained that the redevelopment of the Titchfield peninsula will be a signal for the start of high-level development slated for Port Antonio.
    He said that the Titchfield peninsula is the first project which will be undertaken by his team in collaboration with the Portland Parish Council.

    The first step of this project is to rebuild the infrastructure, including light, roads, sewerage, drainage, and landscaping in that area. The project, amounted to $32 million, of which Mr. Lee Chin has already provided $10 million. Local Government is to provide $5.5 million, while the Tourism Enhancement Fund provided the remainder by way of lobbying.

    The $32 million was initially required to do the roadway, sidewalks, landscaping and lighting, but according to Mr. Lee Chin, they have to ensure first that the pipes, which are to be laid, are adequate. The project is to also include the construction of a 400-room hotel to replace the old Titchfield hotel which was destroyed by fire many years ago.
    "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

  • #2
    If true way to go.

    Karl if he can do this then 6% growth is possible. I will be watching. I just spoke to my brother and tell him it is time for Portland.
    • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

    Comment


    • #3
      Originally posted by Assasin View Post
      If true way to go.

      Karl if he can do this then 6% growth is possible. I will be watching. I just spoke to my brother and tell him it is time for Portland.
      6% growth annually until 2030? ...or, an average through to 2030? ...and, how will that affect the majority of our people? ...not like the 'boom' years of Seaga's '80s where only a few benefited I hope?

      'memba a family of 10 can be making $1,000,000.00 per annum and only the $800,000.00 income-maker and the $120,000.00 income-maker innah di money?

      Di fambily $1,000,000.00 gives dreams of a comfortable $100,000.00 each...but, the reality can be even worse dan di egg-zample given above? 'mamba dat?
      "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

      Comment


      • #4
        Karl growth for the first 3 years or so maybe contained to certain areas and other people will benefit as it continue to grow. More peopole will have confidence to invest, and to employ others. The people who invest heavily in the right areas will benefit more. With this kind of investment it will call for construction workers and then a good amount of hotel staff who will all benefit and as a result with support their local economy. I hope the government will benefit by way of taxes to help out some inequality.

        Six % is in the short term. Nobody can promise me 6% growth until 2030, I will not buy into that you have too many factors involved.
        • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

        Comment


        • #5
          You apparantly prefer the model of no-growth AND no benefit to the Majority...

          Dat yuh been supporting for 18 years....

          Comment


          • #6
            So di new PM only concer bout
            him parish? LOL

            Comment


            • #7
              Karl I think you are a 70s socialist at heart that apparently believes that if the rich get richer then the poor must necessarily get poorer. it is simply not the case!!

              Wealth is not a zero-sum game! The rich can be getting obscenly richer while the poor improve from total misery to not-so-bad. It is not the ideal situation but unfortunately it seems to be the best option in the free market system. It is certainly better than the socialist/liberal approach which is to limit how rich you can get at the expense of making the poor even poorer.
              "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

              Comment


              • #8
                So how come you couldn't have this
                vision under the PNP govt? Thanks.

                Comment


                • #9
                  The PNP are recent converts to the free market model of economics and they have been slow learners. Too many 70s neanderthals like DK and Portia still hanging around with power in the party.
                  "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

                  Comment


                  • #10
                    So it's a question of how long?
                    I thought the PNP was in for 18 years. That's too recent for you? Sorry they are slow in learning. May I add that Bruce is now coming with some massive social programmes (akin to Joshua in the 70s), please give me your thoughts on this. Thanks.

                    Comment


                    • #11
                      Social programs are good once they are balanced with the proper fiscal programs to ensure discipline in govt spending.

                      Joshua implemented some great and well overdue social programs. His big mistakes (and there were many) included fiscal indiscipline that would make Omar "running wid it" look like a textbook approach to macro-economics and thinking that his great mass popularity would allow him to continue to carry out his social work while isolating the private sector. Plus we didn't know it at the time but socialism as he was evangelising it simply does not work in the real world.

                      Some also say that he developed a kind of Messiah-complex where he really believed that everything he did was for the greater good of humanity and anyone who opposed his approach should be isolated and run out of town and labelled as oppressors of the poor . After all there were five flights a day to Miami right ?
                      "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

                      Comment


                      • #12
                        so you are saying that the
                        difference no is: Bruce is doing it with the blessing of the private sector?

                        Quick question: with the emergence of the global villiage/economy given Ja's private sector's policies and implementation, how long will they last?

                        Comment


                        • #13
                          I know as an computer man you like to break everything down to binary approaches but unfortunately this is not always possible. There are a number of differences, not the least of which is that the world has changed and Bruce must have learnt from local and global mistakes of the past and will surely make some new mistakes himself. I will leave it at that.

                          As to Jamaicas private sector, it is a mixed bag. There are progressive companies like JA Broilers, Grace and SuperPlus to name a few that are already preparing for the increasingly globalized economy. Even some smaller enterprises are already taking advantage and go directly to China to source product. The plantocracy will probably die a slow painful death due to thier refusal to change and they should. The problem is that we don't have a work force that is even close to ready for this.

                          My hope is that more of the new capital created abroad like Lee Chin and maybe even some of the new generations of the old money that Manley and crew chased out of the country will see enough opportunity in JA to come back and invest.

                          There is money to be made that is for sure but opportunities exist elsewhere too so the money will go where there is less headache from govt, maybe even incentives from them where appropriate and more reward for the risk. Familiarity with the playing field counts for a lot too thats why you have to look to the Jamaican diaspora.
                          "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

                          Comment


                          • #14
                            Originally posted by Islandman View Post
                            Karl I think you are a 70s socialist at heart that apparently believes that if the rich get richer then the poor must necessarily get poorer. it is simply not the case!!
                            Is that what the 70s socialists believed?
                            Never heard about that and would never belive such nonsense! Like to believe that I think through 'things'.


                            Wealth is not a zero-sum game! The rich can be getting obscenly richer while the poor improve from total misery to not-so-bad. It is not the ideal situation but unfortunately it seems to be the best option in the free market system. It is certainly better than the socialist/liberal approach which is to limit how rich you can get at the expense of making the poor even poorer.
                            Would not accept this 'sum total' as the whole truth. Would not accept it as sensible conclusion...for surely there are other positions than
                            "The rich can be getting obscenly richer while the poor improve from total misery to not-so-bad"
                            ...and, surely some of the other positions including your
                            "ideal sutuation",
                            which definitely is not
                            best option in the free market system,
                            could be 'laid out there' by you?

                            "Socialist liberal approach to limit how rich someone or some entity can become" says who?

                            You?

                            My socialist principle says all can be livng very well...even as some shall have obscene wealth! There is enough to go around so we have no more 'poor' as we know and define 'poor' today!
                            "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

                            Comment


                            • #15
                              Where has "all living well even as some have obscene wealth" been accomplished from a state of poverty in the socialist world in the last 50 years?

                              Nations who have moved from underdeveloped to prosperity in recent times have done it with some kind of capitalist free-market model and that includes places like China and India.
                              "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

                              Comment

                              Working...
                              X