BASSETERRE, ST. KITTS, MAY 30TH 2005
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| A section of the invited guests attending the Opening Ceremony of the new Headquarters for the Development Bank of St. Kitts and Nevis. (photo by Erasmus Williams) |
Prime Minister and Minister of Finance, Dr. the Hon. Denzil L. Douglas said Thursday that Government is determined to ensure that the over 1,000 workers currently employed in the sugar industry will continue to enjoy an acceptable standard of living when the St. Kitts Sugar Manufacturing Corporation stops production of sugar.
And he said that the financial institution will have a critical role to play in empowering sugar workers so that they can secure a better future for themselves and their families.
The Development Bank will be one of the institutions and one of the various agents that would play a leading role in empowering these workers, especially those who would have retooled themselves with the learning of new skills and who would develop that new entrepreneurial spirit and culture that is required, Prime Minister Douglas told the gathering at the ceremony to officially open the new Headquarters of the Development Bank.
Dr. Douglas also said that every effort must also be employed in the Private and Public Sectors to develop policies and frameworks that further stimulate employment in the productive sectors, as well as helping to create the potential for increased foreign exchange earnings and for the reduction in imports.
The records indicate millions of dollars spent every year in food imports. Some of this can and should be produced here in St. Kitts and Nevis, not only for the 45,000 people who are resident here, but also for the additional 300,000 visitors or tourists who visit our own country annually, said the Prime Minister.
He said it was encouraging that new moves towards irrigated farming and other farming techniques are being successful and will in short time, provide applicable means by which food production could be significantly increased.
At the same time, we cannot and must not ignore the need for technically skilled persons who are critical in an expanding economy, who are essential to the service sector, and who are needed, particularly as our tourism industry expands, said Dr. Douglas.
He noted that in a progressive and developing economy like St. Kitts and Nevis, greater attention has to be placed on skilled and technical education, locally and overseas, in order to support the growing services economy.
Dr. Douglas stated that the Development Bank of St. Kitts and Nevis is beginning to address many of those issues, pointing out that the Bank has recently demonstrated its own thrust to develop strategic alliances to facilitate programmes of development and pointed to its alliance with the National Housing Corporation (NHC).
I believe that such alliances will play in increasing role, for example in the areas of tourism and services, as the Bank expands its capacity and capability, and pursues its vision of becoming a leading developmental institution in St. Kitts and Nevis and the region, said Prime Minister Douglas.
