budget statement 2012.indd - Grenada Customs & Excise Division

tourism sector since their rejuvenation will provide badly needed
jobs and more clout to negotiate airlift and more joint destination
marketing.
To that end, this Government has been working very closely with
the tourism developers to make these projects a reality; not just by
providing concessions and other investment incentives, but by actually
working with them, hand in hand, to source development financing
for these projects. In that regard, our office of Private Sector Development
has been playing the role of match maker, bringing together
these developers with potential co-developers and financiers.
Moreover, in 2009, out of concern for the serious challenges faced
by developers to access financing, the Government took the extraordinary
step of applying for a concessional loan from the China Exim
Bank to finance the development of the Mt. Hartman/Hog Island
Hotel Resort.
Mr. Speaker, over the last 15 years, the subject of the Hog Island
Resort Project has come up in almost every budget presentation with
the hope expressed, in some promising way, that that this dream will
become a reality. In all these years, these hopes have been dashed.
Mr. Speaker, after substantial effort and determination, this Government
has made considerable progress towards realizing this Grenadian
dream.
And today, I am pleased to announce, on behalf of the NDC administration,
that Grenada will have its first international 5-star resort
at Mt. Hartman/Hog Island.
For 2012, Tourism and Culture has been allocated $31.1 million, an
overall increase of $2.3 million over last year’s budget.
6.3 ENERGY DEVELOPMENT
Mr. Speaker, our Government is committed to the development of
all of Grenada’s energy resources (renewable and non-renewable). In
this regard, a National Energy Policy was approved last March.
Page 30
2012 Budget Statement