BRADES, Montserrat (July 10, 2012) – The Montserrat Development Corporation (MDC) has a new Board of Directors which will be expected to push the new mandate of the company created in 2007 to drive the private sector growth.
Incoming Chairman is John Ryan, a local businessman and former Financial Secretary for the Government of Montserrat. Also on the board will be former MDC Chairman Kenneth Scotland, Oral Martin, Mahesh Valechha, Angela Greenaway as the Government of Montserrat Representative, Kato Kimbugwe as the DFID Representative with Infrastructure Adviser to the GoM John Cox, as the Ex officio member.
The Cabinet recently approved a revised mandate for the MDC which will be to:
- Act as master developer for Little Bay and Carr’s Bay;
- Provide business development support to the local private sector, including facilitation of a new Business
Financing Facility in association with a local financial agency;
- Secure foreign and local private sector investment to support the development of a tourism led economy;
- Implement trade and investment promotion activities and stimulation of local private sector development;
- Support the design and delivery of access infrastructure improvements; and
- Support design and feasibility work on new economic development projects.
Cabinet has also approved the retention of John Cox who is to be assigned to the MDC to continue the work of overseeing the “build out” of the Master Plan and implementation of the Marketing Strategy. The Board is also expected to put in place an affordable staffing structure to support the “build out” of the Master Plan, the implementation of the Marketing Strategy and the Private sector development initiatives.
The Board, along with GoM Officials and DFID Officials are to develop a business plan for the future sustainability of the organization by March 2013.
The board is to serve from July 1 to March 2014.
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