As investor confidence in the economy of the twin-island Federation and the St. Kitts-Nevis Labour Party Administration continues to grow, the world's largest accounting firm, PricewaterhouseCoopers officially opens its doors here on Thursday.
Partner in charge, Kittitian-born Mr. Charles Walwyn said the company will offer a full range of audit, tax, advisory and corporate services to local businesses, individuals and foreign investors in St. Kitts and Nevis.
Mr. Walwyn, who was accompanied by the firm's Resident Manager, Ms. Kathy David, whose grandmother is a Kittitian by birth, paid a courtesy call on Prime Minister Douglas, who is also the Minister of Finance.
"We have our staff compliment in place. We have done our initial recruiting at the local level and it will be an ongoing process. The expectations for the practice and for our people are very high and we are extremely pleased to be here," said Mr. Walwyn, who expressed thanks to Prime Minister Douglas.
Mr. Walwyn pointed out that as a service provider, mostly to the business community, "we follow the business and we have been doing a substantial amount of work here in recent times from our offices in Antigua. If we want to continue to serve our clients here, we have little choice, but to follow them."
He told Prime Minister Douglas: "The fact that other businesses following so closely on their heels, speaks volume for St. Kitts and Nevis, but also we see that as ultimately the growth potential."
Mr. Walwyn said that the investment climate was right and the "timing seems to be very much appropriate."
"We welcome our competition. We are glad that we are one of the first and we look forward to a long and good relationship
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| St. Kitts and Nevis Prime Minister and Minister of Finance, Hon.Dr. Denzil L. Douglas (l), PricewaterhouseCoopers, Partner in Charge, Mr. Charles Walwyn (c) and Resident Manager, Kathy David. |
with the jurisdiction and as somebody who was born here, it is a wonderful experience for me to come back and share something like PricewaterhouseCoopers," he told Prime Minister Douglas.
Dr. Douglas said the Government and the People of St. Kitts and Nevis are pleased to have PricewaterhouseCoopers setting up an office in the twin-island Federation.
"St. Kitts and Nevis is very pleased and of course the Government is very pleased to have you here. We have been serviced in the past by a number of reliable service providers similar to yours and I think what has been different here, is that over the last few years, we have seen a very attractive investment climate here in St. Kitts and Nevis," said Dr.
Douglas, who hoped that other big accounting and auditing firms would establish operations in the Federation.
"With that climate changing rapidly for the better, we believe that there is an enormous amount of challenge that you will find here," said Prime Minister Douglas, who shared the view that the investment climate in St.
Kitts and Nevis today, "provides ample opportunity for many providers."
"I am one of those who believe that competition can only make those who are the recipients of the service feel much more comfortable. It engenders improved quality of service as well," he added.
The St. Kitts and Nevis office of PricewaterhouseCoopers brings the number of country locations to 17 in Caribbean and to five in the OECS.
