US President Donald Trump on Monday signed into law a $15 billion deal to establish resorts and hotels in the Caribbean island nation of the Bahamas.
Trump said the deal with British resort company Bali, which has a large workforce in the country, was an example of a US company moving into a developing country and contributing to its economy.
The deal also includes construction of four luxury hotels on the island of Jamaica, two on the islands of St. Thomas and St. Croix and one in Jamaica Bay.
Trump, who is due to arrive in Jamaica on Wednesday, will also meet with leaders of the Caribbean region, Caribbean states and regional governments.
The White House said the agreement will help spur the construction of more than 300 luxury resorts in Jamaica, St. Lucia and St Thomas and help boost the tourism sector in the region.
Bali, the world’s largest luxury resort operator, employs around 5,000 people in the Bahamas and has also invested in the resort of Bonaire, in northern France, the Bahamas’ largest island.
The company is also investing in a new hotel in St. Maarten, the French Caribbean island, which will be built with US dollars.