EC$1.5 million in concessions granted to local businesses
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Tiffany Bar and Grill on Port Zante, owned by local businessman Cecil Rock
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BASSETERRE, ST. KITTS, JULY 23RD 2008 (CUOPM) – Concessions totalling over one million dollars have been approved by Cabinet for several local businesses.
“In its quest to fulfill its mandate to create a robust tourism industry and services sector generally, Cabinet approved seven applications for concessions by local tourism-related and services sector companies,” Minister of State for Information, Sen. the Hon. Nigel Carty said Tuesday.
He said the strategy of the St. Kitts-Nevis Labour Administration “has been to grow the services sector as we change the economic landscape in the post-sugar era.”
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First Class Jewellery on Port Zante, owned by local businessman A.U. Browne. (photos by Erasmus Williams)
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Minister Carty disclosed that the concessions approved totalled in the region of EC$1.5 million dollars.
“Government believes that the return on investment for the country will be seen in the creation of new, stable and better paying jobs in the services sector and other supporting sectors,” added Carty.
He used the opportunity to encourage young entrepreneurs to register their businesses and benefit from a variety of assistance packages to grow their businesses and create wealth.
In keeping with its promise in the 2004 General Election manifesto, the St. Kitts-Nevis Labour Government continues to agresively pursue the further development of the tourism and services sector with locals playing an important role in establishing and owning businesses.
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