SAINT LUCIA—BEST CARIBBEAN IS­LAND TO IN­VEST

The Star (St. Lucia) - - LOCAL -

That's ac­cord­ing to Euro­pean Busi­ness Mag­a­zine, Europe's lead­ing sub­scriber-based pub­li­ca­tion, which boasts close to 90,000 C-level read­ers who range from se­nior cor­po­rate ex­ec­u­tives to de­ci­sion mak­ers, from some of the lead­ing busi­nesses across Europe.

Saint Lucia emerged as the front-run­ner, sur­pass­ing sev­eral other Caribbean is­lands in­clud­ing Ja­maica, which was the 2017 awardee.

Newly minted Chief Ex­ec­u­tive Of­fi­cer (CEO) of In­vest Saint Lucia, Rod­er­ick Cherry, is elated by this lat­est ac­co­lade. “This award is tes­ta­ment to the hard work and ded­i­ca­tion that In­vest Saint Lucia has de­voted to tar­geted in­vest­ment pro­mo­tion and mar­ket­ing over the last few years,” he noted.

“In­deed, our cur­rent projects, as well as those in the pipe­line, are as a di­rect re­sult of our more as­sertive and proac­tive in­vest­ment pro­mo­tion ef­forts at re­lated over­seas events and in var­i­ous tar­geted in­ter­na­tional pub­li­ca­tions.

“We are now wit­ness­ing the ben­e­fits of our re­fo­cused brand­ing and pro­mo­tions, which be­gan close to ten years ago. ISL's ef­forts have man­aged to al­ter the pub­lic and stake­holder per­cep­tion of the agency as sim­ply an in­vest­ment fa­cil­i­ta­tor, land­lord and source of in­ex­pen­sive land for both com­mer­cial and res­i­den­tial pur­poses. This repo­si­tion­ing to pro­mote Saint Lucia as a more `in­vest­ment friendly' is­land, has ap­par­ently paid div­i­dends and we're look­ing for­ward to fa­cil­i­tat­ing ad­di­tional for­eign di­rect in­vest­ments into Saint Lucia in the not too dis­tant fu­ture.”

Ac­cord­ing to pub­lisher Nick Staunton, “Saint Lucia's award for `Best Caribbean Is­land to In­vest' was based on new projects; the ex­pected re­turns on in­vest­ment for the new projects in ques­tion; the yield and re­turn on real es­tate; and Gov­ern­ment as­sis­tance as it re­lates to tax in­cen­tives.

“The is­land re­ceived over 30,000 votes over a 6-month pe­riod, with read­ers cit­ing ar­eas of sig­nif­i­cance such as stan­dard of liv­ing, the preser­va­tion of do­mes­tic laws and ease of ac­cess,” he ex­plained.

Read­ers were also im­pressed with the cur­rent projects from in­ter­na­tional in­vestors, which sig­nals in­vestor con­fi­dence in the is­land's po­ten­tial as a choice in­vest­ment lo­ca­tion.

Saint Lucia will be promi­nently fea­tured on the front cover of the in­ter­na­tional pub­li­ca­tion's up­com­ing edi­tion in De­cem­ber, when the mag­a­zine will be do­ing a spe­cial Eco­nomic Re­port on the Caribbean for Euro­pean ex­ec­u­tive de­ci­sion mak­ers and read­ers. The piece will in­clude in­for­ma­tion on why Saint Lucia has earned the rep­u­ta­tion as the best is­land to in­vest in. It will also fea­ture other new emerg­ing coun­tries in the Caribbean and why in­vestors are be­gin­ning to flock there.

Chair­man of In­vest Saint Lucia, Pink­ley Fran­cis, also weighed in on this lat­est ISL achieve­ment. “We are cog­nizant that Saint Lucia's busi­ness en­vi­ron­ment may dic­tate the quan­tum and qual­ity of in­vest­ments. We're pleased there­fore with the fact that the in­cen­tives be­ing of­fered was one of the fac­tors pointed to in the sur­vey car­ried out by the Euro­pean Busi­ness Mag­a­zine. Gov­ern­ment con­tin­ues to put mea­sures in place to en­sure that Saint Lucia has the most ap­pro­pri­ate tech­no­log­i­cal, in­fras­truc­tural, ad­min­is­tra­tive, le­gal and reg­u­la­tory frame­work, as well as the ap­pro­pri­ate so­cial en­vi­ron­ment to at­tract and sus­tain in­vest­ments that will con­trib­ute to Saint Lucia's eco­nomic trans­for­ma­tion with its re­sul­tant em­ploy­ment gen­er­a­tion and tech­nol­ogy trans­fer, as we look to­wards the ad­vance­ment of the is­land's so­cio-eco­nomic de­vel­op­ment,” he com­mented.

The Euro­pean Busi­ness Mag­a­zine en­joys a dis­tri­bu­tion net­work that in­cludes some of the most prom­i­nent de­ci­sion mak­ers across all of Europe. Both the mag­a­zine and web­site are com­mit­ted to the very high­est stan­dards of jour­nal­ism and have built up a cov­eted rep­u­ta­tion for ex­cel­lence. In ad­di­tion to their es­tab­lished cir­cu­la­tion of paid sub­scribers, the Saint Lucia edi­tion will be distributed at the 2019 World Eco­nomic Fo­rum.

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