Invest SVG launches 10th anniversary exhibition at old Public Library

Financial Direct Investment (FDI) is extremely important to the development of St Vincent and the Grenadines.{{more}}

Also, international investment has become an increasingly important feature of the globalized economy, having grown much faster than world Gross Domestic Product (GDP).

These facts were stated on Friday, September 27, by newly appointed executive director of Invest SVG Bernadette Ambrose-Black, who was at the time speaking at the launch of Invest SVG’s 10th anniversary exhibition at the National Trust building (old Public Library) on Granby Street.

Addressing a gathering made up of a number of players involved in economic development, Ambrose-Black said that this country is a nation well poised for accelerated development. She said that, from her standpoint, St Vincent and the Grenadines is a model country for foreign investment, directly, or in partnership with the domestic private sector and/or the state.

“In fact, in every respect, SVG, under the auspices of Prime Minister, Dr Ralph Gonsalves and his Government, has come a long way in terms of development. We are a modern nation, with steeped, tried and tested values of our Caribbean civilization. We have a stable investment climate, an attractive incentive framework and a modern legal and regulatory environment”, she said.

She added that the Vincentian economy has experienced reasonable levels of growth for many years and has withstood various exogenous shocks, while remaining on the forefront of regional integration.

“Our macroeconomic policies are outward in orientation; as such SVG is at the forefront of the regional integration movement and the drive to create a single market and economy within the CARICOM region”, said Ambrose-Black, who stressed that with this in mind and the pivotal role accorded to Invest SVG, there is no doubt that over the years, the organization has come a long way.

Invest SVG celebrates its 10th anniversary on October 5, 2013.

Ambrose-Black said that Invest SVG “has heeded the call with concomitant increase to fostering and promoting St Vincent and the Grenadines as a lucrative destination, the jewels of the Caribbean, the gem of the Antilles, ideally suited not only for tourism, but also for trade and investments”.

She said that the fact that we all live in a globalized economy, we cannot stand still, as borders have been transcended, “and as such, over the years, the mandate of Invest SVG has grown, to borrow the words of Sir Edwin Carrington, former Secretary General of Caricom, we have ‘widened and deepened’ to meet the increasing demands of this ever changing world”.

She said in her opinion, it is accurate to state that Invest SVG has helped propel this nation forward, as they have been a catalyst and a facilitator for a number of developmental projects on the island, both large and small.

“…from facilitating investment projects such as Buccama Bay Resorts to Tribu in Mayreau, Grenadine House and Bequia Beach Hotel, to name a few. We have attracted a number of reputable visitors to our shores, not just overseas investors, but local investors, those living at home and those within the diaspora, who as it is their duty as a Caribbean national, as a Vincentian, have pledged their support and allegiance to their country by giving back because they care”.

She added that they have also aided in development, as over the years, a number of persons through Invest SVG’s efforts have been allowed to participate in various activities that would have expanded their reach locally, regionally and internationally.

“In the creative sector, we have hosted Vincentian Innovators Expo (VIPO), whereby local Vincentian investors were afforded the opportunity to showcase their products, all made from local fruit and material. Products such as tomato chutney, infused coconut oil, local fruit wine, local fruit brandy, local organic teas, various flavours of pepper sauce, banana art craft, wooden household accessories such as hot plates, jewelry made using recycled paper and fish scales, calabash and leather bags. Conterminously, we have been instrumental in hosting export readiness seminars”, said Ambrose-Black.

The launch of the 10th anniversary exhibition was also addressed by Minister of Foreign Affairs, Foreign Trade and Consumer Affairs Senator Camillo Gonsalves, Parliamentary Secretary in the Ministry of Tourism, Sports and Culture Senator Luke Browne and lawyer and former Minister of Tourism and Culture, Urban Development and Electoral Matters Rene Baptiste.