GSD against China joint venture

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 Wednesday, June 10, 2020 - 10:00
GSD against China joint venture

The GSD says it does not support the Government’s joint venture transaction with a Chinese sub-state owned construction company to build a privately funded prefabricated nursing home on a 1,000m2 plot at the Rooke site that will then be handed over to an undisclosed private “investor”. It will continue to probe this transaction as serious questions arise that are currently unanswered.

Roy Clinton, spokesman for Public Finance, said: “Sir Joe Bossano has announced this project as part of the National Economic Plan but I fail to see how it will generate sustainable jobs or aid the local construction industry as all the real work and value added is to be done in China. This will mean that local suppliers to construction companies will effectively be cut out of most of the process. Additionally the joint venture will compete against long-established local construction companies.

“Even if a factory for the modules were to be established in Gibraltar, I do not see we have the ability to load the containers onto ships in any volume nor the waiting clientele, especially as we exit Europe. It will be remembered that the old Components Factory had to close once it ran out of local projects.

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