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| St. Kitts and Nevis Prime Minister and Minister of Tourism, the Hon. Dr. Denzil L. Douglas (l) and Chief Executive Officer (CEO) of Newfound Group International of New Foundland Canada, Mr. Brian Dobbin exchange shovels after the ground breaking ceremony for the multi-million dollar resort at Frigate Bay, St. Kitts. |
BASSETERRE, ST. KITTS, FEBRUARY 2ND 2006 - The start of construction of St. Kitts Ocean's Edge US$100 million five-star resort is another sign of confidence in the St. Kitts-Nevis Labour Part Government's investment strategy.
Delivering the Feature Address to commence the construction of the resort on 40 acres of land overlooking the Atlantic Ocean at Frigate Bay on Wednesday, Prime Minister and Minister of Tourism, the Hon. Dr. Denzil L. Douglas highlighted several tourism development projects, which he said must have attracted the Newfound Group International of Canada.
Dr. Douglas pointed to Port Zante, which he said has flourished under his St. Kitts-Nevis Labour Party Administration.
"They have seen the transformation of our road network, they have seen the unleashing of competitive forces in our Telecommunications Industry, and the lifting of our social services, including health care, education and poverty reduction, to international standards. They have seen the construction of the Golf Course," said Prime Minister Douglas, who is of the view that the investors were also attracted by the Marriott Resort and Casino.
"They have seen the massive Marriot Hotel take off and generate a tremendous amount of employment and economic activity for the good of our people. They have heard of the plans for the continued expansion of the Marriott through the Marriott Vacation Club International. They have heard of the Auberge Group's project that will result in the construction of yet another golf course, a marina and at least three world-class hotels on the Southeast Peninsula. They have heard of tourism development here on the island of St. Kitts and on the island of Nevis in a new transformed economy and they want to be a part of it and that is why they are here,:" said Prime Minister Douglas.
He also said it was not surprising that one of the investors in this project, the TDC Group of Companies, has moved into high gear and is investing heavily in its own downtown facilities and in a new villa project development.
"This, in our view, could only signify the tremendous confidence that these investors have in the future prospects of our country under the leadership of my St. Kitts-Nevis Labour Government," said the St. Kitts and Nevis leader.
Prime Minister Douglas was also pleased that the local investors have joined forces with Newfound, a reputable international company, with an outstanding track record in real estate development and sales.
"This is the model that I would like to promote to more of our own entrepreneurs. I urge our people to join in the action, and begin to create wealth for yourselves. If you do not have all the skills and resources to do so, then do not be afraid to welcome foreign joint-venture partners. This is our advice and our goals," he added.
The St. Kitts and Nevis Prime Minister emphasised his government's support for local investors. "Your Government is behind you and while we welcome foreign investors to our shores, we rigidly institute a policy whereby foreign investors are only being granted licenses in respect of projects which, because of the resources and technical know-how required, may be beyond the capacity of local entrepreneurs, acting on their own," he told the invited guests.
