Local Investment Promotion Agency launched
By Joy Mills Ward
Reporter-SKNVibes.com
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Prime Minister of St. Kitts-Nevis, Hon. Dr. Denzil Douglas and Dr. Paul Bonicelli unveil the commemorative plaque to mark the launch of the St. Kitts Investment Promotion Agency
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Basseterre, St. Kitts: St. Kitts Investment Promotion Agency (SKIPA) was launched yesterday, 11th December, 2007, during a brief ceremony chaired by Ms. Shawna Lake, Director of Marketing and Development in the Ministry of Finance.
Dr. Paul Bonicelli, the Assistant Administrator for Latin America and the Caribbean for the United States Agency for International Development (USAID), who was supportive of the Alexander Hamilton’s quote “the wealth of nations depends upon an infinite variety of causes. Situation, soil, climate, the nature of the productions, the nature of the government, the genius of the citizens, the degree of information they possess, the state of commerce, of arts, of industry.”
Dr Bonicelli said that “the launch puts in place measures to reduce bureaucracy and streamline investment procedures and also to ensure that such measures attract the right type of business from an increasingly competitive global market for investments.
“I believe that this initiative will have a far-reaching impact on the growth of the economy and lead to the creation of greater wealth and more jobs for citizens of this country.
~~Adz:Right~~ Streamlining procedures not only make economic sense, it also makes political sense. It tells the business leaders of St Kitts that their government is listening to their concerns and is responding in a way that will make doing business in St Kitts and Nevis easier and more transparent,” he outlined.
“The United States Government, through USAID, promotes democracy and economic growth for both ethical and practical reasons. We believe that democratic systems are an end in themselves, because they best ensure the universal rights to life, liberty, free expression, and equal treatment under law. Democracy also makes for good, balanced development, because it helps ensure that a nation’s treasure is allocated according to the needs and desires of all people – not just a privileged few,” he added.
Dr Bonicelli said that despite the fact that St Kitts and Nevis is small, and definitely disadvantaged to take on giants like China in the global market place, that we had outstanding physical advantages.
“St Kitts & Nevis is close to and accessible from the world’s largest consumer markets in North America and Europe. Its democratic government is open, transparent and stable. And its small size means that the individual efforts to promote growth can have significant national level impact,” Bonicelli added.
Prime Minister of the Federation, Dr. the Hon. Denzil Douglas, also gave a presentation at the launch of the new agency and noted that its establishment was testament to the positive turning point in the economic climate of St. Kitts and Nevis.
Among the other dignitaries who attended the launch were the Hon. Nigel Carty, Minister of State in the Ministry of Sustainable Development, Mrs. Hilary Hazel Permanent Secretary in the same Ministry, and Mr. Starret Greene, the local Organization of American States (OAS) representative.
Dr. Bonicelli and Prime Minister Douglas exchange tokens of appreciation
