Investors interested in  business ventures in SVG – PM
September 27, 2016
Investors interested in business ventures in SVG – PM

Investors are showing a great deal of interest in St Vincent and the Grenadines (SVG) as a result of the Argyle International Airport (AIA).

This is according to Prime Minister Dr Ralph Gonsalves, who said the AIA is winding down the construction phase and moving into the operational phase.

During a media conference last Thursday, Gonsalves stated that 31 acres of land in the Mount Wynne/Peters Hope area had been demarcated and alien landholding licences had been prepared for a group of Canadian investors.{{more}}

He said the land was sold for $7 million, of which $3 million has already been paid.

Gonsalves stated that the landholding licence has several processes to go through before being issued. However, he doesn’t believe that the process would be a long one.

“I expect that by Wednesday next week that alien landholding licence will be before us and the transfer will take place. People are here and are ready to move,” he said.

The Prime Minister also said that other companies, such as Karisma Hotels and Resorts, still have interest in investing the Mount Wynne/Peters Hope area.

He also noted that Minister of Economic Planning Camillo Gonsalves had secured a visit from high-ranking members of the Sandals Resort to view the property at Mount Wynne/Peters Hope.

The Prime Minister said that persons must appreciate that St Vincent and the Grenadines (SVG) is not the only place where investors want to build hotels; however, they are investing in SVG.

“You have to actually go and hunt and look for the money and get people interested in the investment.”

He disclosed that of the two projects being done by the Canadian group of investors, one includes 40 villas and a small hotel with about 100 rooms.

Gonsalves also stated that an investor who owns hotels in Europe and has other business has expressed interest in doing development work in Union Island.

“He has visited; he has been in touch with engineers. His engineers are coming down in respect to the marina in Union Island,” the Prime Minister said.

According to Gonsalves, the investor is also interested in development of Chatham Bay; however, their first focus would be on the marina.

In the agricultural sector, the Prime Minister said that Minister of Agriculture Saboto Caesar and Minister of Economic Planning Camillo Gonsalves have been in touch with an investor who is interested in doing a fisheries project at Calliaqua.

He also pointed out that investors are moving ahead with both coffee and cocoa and while coffee is less talked about, work is being done in that field as well.

Additionally he noted that 200 acres of state land has been identified for a project on bananas, which will be financed by Winfresh.

“We want more lands and they want to encourage other persons to plant and to do it in a way that we can get good quality and good yield. We can’t give up, we have to simply do the work and Winfresh is prepared to assist,” Gonsalves said.

The Prime Minister also disclosed that the Government is currently holding discussions with their partners on the geothermal project.

He noted that a contract has been awarded to a company to construct a road leading to the geothermal site and a settlement for farmers in the area has already been reached.

The Government has entered the power purchase discussion phase, the Prime Minister said.

“All being well, we can perhaps have operation on the plant by the end of 2018.” (CM)