Bartlett: TEF business model being repositioned
Edmund Bartlett says that his ministry will be repositioning the business model of the Tourism Enhancement Fund (TEF) to respond effectively to the demands of the Government’s “aggressive” growth strategy.
“The agency will fund strategic and targeted projects which support key activities aimed at realising growth targets,” he said. These would include: supporting the development of a hospitality school; artisan villages; the craft institute; and boosting safety and security within the sector.
Bartlett, the tourism minister, was speaking in the Sectoral Debate in the House of Representatives on Tuesday. He said that the TEF would also have a key role to play in funding initiatives which fall under the five pillars of tourism growth, as well as the five networks.
“This new business strategy will require MOUs with all the key agencies with which the TEF partners, and will require a business plan to be presented for projects. These plans will outline the sustainability of each project, the management structure and the return on investments,” he stated.
He said that the MOUs will differentiate between projects which have a commercial element, for which there should be a return on investment, and those that are for the public good.
“As part of the repositioning, we have examined the current transformational projects being undertaken in Ocho Rios, Falmouth, Negril and Montego Bay. Following this review process, we have decided to continue work on the various projects in the resort towns of Ocho Rios and Falmouth, which are already transforming the appearance of these areas and significantly enhancing the port side experience for cruise passengers,” he noted.
He said that, working in collaboration with the Port Authority of Jamaica and the Urban Development Corporation (UDC), the tourism ministry would be carrying out additional work in Ocho Rios, including the completion of the promenade from the marina to Ocean Village Shopping Centre.
In the case of Falmouth, the fund will continue to support the major projects being undertaken by the Port Authority and the UDC, including Hampden Wharf and other new projects the agencies are bringing to the table to enhance the visitor experience.
“We remain committed to partnering with them moving forward,” Bartlett said.
“It must be underscored that by repositioning TEF, its resources will be used to improve our tourism product, thereby attracting more visitors which, in turn, will increase the amount of money which will then go back into the fund itself,” he added.