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Investments In Nevis To Create additional 1000 Jobs By Year 2009
By Pauline Waruguru
Nevis Reporter - SKNVibes.com
.jpg) Representatives of various sectors in Nevis met at the Four Seasons Resort on Wednesday to discuss the Nevis economy amidst revelation by the Nevis Premier Joseph Parry that investments in Nevis would create 1000 jobs by the year 2009.
The Premier was speaking at a high profile meeting dubbed, “Consultation On The Economy” held at the Four Seasons Resort, Nevis.
In a bid to empower local persons, the Premier said that all local contractors were engaged in constructions work commissioned by the government. He cited the construction of El Paradisio Hotel now under construction and said a local contractor was employed. The hotel will be able to offer jobs to 25 jobs when it reopens in November.
Simplicity Villas was approved to commence construction under the supervision of a local contractor and a major villa project at Paradise will commence construction before the end of 2007. Twenty-five villas will be constructed at a value of not less than $3million.
In 2008, a 120-room hotel/marina project is scheduled to commence at Lovers Beach and another 100-room hotel at Herberts Beach. Both projects he noted would be precursors to a world-class hotel, which will commence construction at the Pinneys Newfound site in 2009.
These investments he said would inject millions of dollars into Nevis’ economy at the construction stage and will create 1000 permanent jobs when they are completed.
“This will be the first major injection of foreign exchange since the construction of the Four Seasons Hotel and it would lead to considerable spin offs in the economy and a major boost to government revenue,” he said.
The theme of the consultation was “Stimulating Growth, Development and People Empowerment.” The Ministry of Finance, Nevis, convened the consultation.
Joseph Parry, the Premier of Nevis who also holds the Finance portfolio told participants at the consultation that the purpose of the consultation was “the meeting of minds that will lead to the empowerment of Nevisian people.” He said every Nevisian must be given equal opportunity and be free of any kind of control, “every Nevisian must be free of political bribery.”
The Premier said Nevis Island Administration was committed to paying the inherited debts:” We inherited a direct government debt of $200 million and $80million from the public corporations. This debt we are obliged to service. In addition, we have had to pay approximately $300,000 for the service of TEMPO and $900,000 for American Airlines both arrangements made by the former administration.
“The Nevis Reformation Party-led Administration was faced with three choices. One Just to service the debts left behind and advance no projects for the country; two service the debts left behind and advance a number of projects on Nevis or three service the debts, advance a number of projects and use the instruments of fiscal policy to reduce debts over time. We chose the third option. The result is straightforward and simple. In the short term the debt will increase but it must decrease if we are to complete the Island Main Road and the Jessups Barnes Ghaut Village road.” he said.
Despite the burden of debts, NIA will strive to complete planned projects among them, the improvement of the Hanley’s and Westbury Roads with concessionary funds from the Caribbean Development Bank (CDB), which offered a moratorium of five years on repayment;
Also to be expanded is the runway at Newcastle by 1000ft, which will be financed from a loan from the Nevis Air and Sea Ports Authority, which would repay itself over time and the expansion and refurbishment of reservoirs on the island.
Meantime, Mr. Parry used the occasion to announce the introduction of a Property Tax in 2009, which would not affect persons with a house, valued under $100,000. He explained that payments would be based on market value, rather than rental value and present homeowners would not be asked to increase payment. Instead persons outside the present catchment area would be included for the fist time.
He also disclosed that the Federal Government had agreed, that all taxes paid on insurance policies and telephone calls on Nevis would be paid to the Nevis Treasury.
Photos
Sknvibes captured the historical economic consultation held at the Four Seasons Resort on Wednesday. There were serious moments at the consultation as participants sat to listen to presentations by experts. There were also light moments when participants took breaks.
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