SVG’s one of the best investment opportunities

At a luncheon held to ‘develop mutually beneficial relationships’ between St. Vincent and the Grenadines (SVG) and the member countries of this country’s diplomatic corps, SVG was described as one of the best investment opportunities for foreign stakeholders.{{more}}

Furthermore, Prime Minister Ralph Gonsalves spoke extensively about the “well established investment climate” of the country. This climate, he said, includes a good system of laws and a sound physical infrastructure.

Listing the investment opportunities in various sectors, Gonsalves also mentioned developments in the economy. Electricity prices, he said, could be cheaper, and the competitive rates of telephone and Internet providers were highlighted.

He also spoke of some of the development work currently being undertaken in this country, including the ongoing work at the Argyle International Airport. Twelve trucks are soon to be added to the equipment being used at the site, the prime minister said. Alternative energies such as Geothermal and wind energy to sustain the energy requirements of the country were also discussed.

Gonsalves said that a maximum of 55 mega watts can be provided from the geothermal energy resources to sustain St. Vincent and the Grenadines. 27 mega watts, he said, was necessary for mainland St. Vincent.

Other investment initiatives discussed were the purchasing of lands in the Grenadines by foreign investors, servicing of LIAT flights from Puerto Rico, development projects in the rural parts of the country and the ongoing Education Revolution.

Gonsalves also spoke highly of the East Caribbean dollar, adding that its strength will only increase as the country increases its foreign investments.

He then called upon the members of the diplomatic corps present to act as ‘evangelists for SVG’, and to spread the message of the numerous investment opportunities in the country.

“It is really difficult to find places where you will have better investment opportunities than St. Vincent,” he said.

Honorary Consul and Ambassadors present at the luncheon included Consul of England, Ambassador of China on Taiwan Leo Lee, Ambassador of Cuba Olga Chamero and Ambassador of the Venezuela Yoel Perez Marcano. (OS)