Prime Minister Philip J. Pierre has explained that for the Saint Lucia economy to grow and prosper, it must have its roots in a vibrant local business sector.
He spoke Wednesday at the opening ceremony of the Saint Lucia-Taiwan Partnership Trade Show.
Physically or virtually, the show features Saint Lucian and Taiwanese companies displaying various goods and services.
Pierre said Saint Lucia welcomes foreign investment, which has immense prospects.
“You can see for yourself that foreign investment has returned to Saint Lucia in the hotel sector,” he observed to applause from his audience.
But he explained that foreign investors do not represent the cure for all of Saint Lucia’s economic problems.
“This is our economy – this is our country, and we must resolve to be the masters of our economy so that we can push its advancement for the good of all the people,” the Prime Minister noted.
Pierre is also responsible for Finance, Economic Development, and the Youth Economy.
He said his aim and that of his administration is to provide the framework to allow Saint Lucians to create wealth in their own country.
In this regard, the Prime Minister disclosed that his administration has committed to providing grants and soft loan funding for micro, small and medium-sized businesses through the Saint Lucia Development Bank and the Department of Commerce.
Pierre said the initiative would start this year and continue for four to five years.
He also observed that similar support would be available for the Youth Economy.
Any third-party or user posts, comments, replies, and third-party entries published on the St. Lucia Times website (https://stluciatimes.com) in no way convey the thoughts, sentiments or intents of St. Lucia Times, the author of any said article or post, the website, or the business. St. Lucia Times is not responsible or liable for, and does not endorse, any comments or replies posted by users and third parties, and especially the content therein and whether it is accurate.
St. Lucia Times reserves the right to remove, screen, edit, or reinstate content posted by third parties on this website or any other online platform owned by St. Lucia Times (this includes the said user posts, comments, replies, and third-party entries) at our sole discretion for any reason or no reason, and without notice to you, or any user. For example, we may remove a comment or reply if we believe it violates any part of the St. Lucia Criminal Code, particularly section 313 which pertains to the offence of Libel. Except as required by law, we have no obligation to retain or provide you with copies of any content you as a user may post, or any other post or reply made by any third-party on this website or any other online platform owned by St. Lucia Times. All third-parties and users agree that this is a public forum, and we do not guarantee any confidentiality with respect to any content you as a user may post, or any other post or reply made by any third-party on this website. Any posts made and information disclosed by you is at your own risk.
You are never going to have a vibrant local business sector. Those high import duties will make it a non-starter. Pierre knows it, Chastenet knows it. Both of them are afraid to lower taxes because they like the security of guaranteed revenue. They are not true believers in the economic doctrine learned in school.
Both men mouth what is necessary to get elected.
We can’t be incharge of our own destiny when under the control of international bodies like WTO and UN…these are the ones holding us back, setting the rules and rates of our tarrifs on a Caricom level. Pjp, ChASS, all puppets on a string.
” … a vibrant local business sector …” means $$$ need to be found, and/or invested in. Mr PM has not a clue on the trials and tribulations SMSE’s face to get their wares marketed and sold.
SLU does not boast of “factories” to get the “industries” going!!! No monies/grants being given for “start ups”, no monies/grants for proper equipment and machinery, far less a working space. Most of the exhibitors at the Taiwanese Exhibitions are “Cottage Industries” – SLU needs to get away from that – now!!
Your words are easier said than done Mr PM. The amount of “Business Plans” with Cash Flow / Budgets being tossed in government and other aid agencies waste baskets – are not being looked at and processed at all.
You hit the head, on the nail!!
very true
Oh, You poor baby; don’t know who advises you or who writes your speeches, but it comes out like you’re full of it, don’t come close. My dear P.M. you are not a bad guy, but you think you must speak like a real B.S. politician, p.s. you don’t have to do that; just be honest, just don’t be taken again by smart talking business guys offering you a ‘Pie in the Sky’ in exchange for our Port Harbours – don’t wait till its too late – rescind that deal as soon as possible – or else kiss your SLP in Government goodbye. Phill you may still have friends, but in politics they can kick you in the axx so quickly and suddenly and dump you, and send you crazy. My boy, take my advise: make your peace with the one one who loves you most of all? I don’t have to tall you, you know Him: The Almighty/watch the ones closest to you. God Bless.