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Opposition disappointed with plans to shelve development of Caymanas Economic Zone

Published:Thursday | March 27, 2014 | 1:28 PM

Opposition Spokesperson on Infrastructure Karl Samuda, says the government’s decision to shelve plans for the Caymanas Economic Zone is a clear indication it has no plans for growth.



Permanent Secretary in the Ministry of Industry, Investment and Commerce Vivian Brown revealed yesterday that the major project would have implications for the government’s deal with the International Monetary Fund (IMF).



Samuda says he’s very disappointed that after two years the government has not taken the appropriate steps to protect such a significant investment.



He points out that all the plans and infrastructure to facilitate the build out of the Caymanas Economic Zone are in place.



He also explains that the proposed development of Goat Islands is a long term project that will not come in effect fully for at least another five years.



Samuda maintains that the Caymans Economic Zone offered the greatest opportunity for short- to medium-term development that would facilitate employment.



He is questioning what plans the government have in place to immediately address issues affecting the country such as youth unemployment.



In the meantime, Samuda is again criticising the government for making poor choices in its negotiations with the IMF.



According to Samuda, the IMF has curtailed the development of the Caymanas Economic Zone which would have involved the development of ICT, warehousing among other things.



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