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St. Lucia
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Chairman of the island’s lead investment agency, Invest Saint Lucia, says as the organization marked 50 years of existence, there was ample reason to celebrate the momentous and milestone accomplishment.
Lyndon Arnold on December 12, 2022, at an official gala to mark the occasion, told government officials, business leaders, and present and past employees of Invest Saint Lucia, that the institution had lived up to its mandate of generating Foreign Direct Investment (FDI) and had and continues to contribute meaningfully to Saint Lucia’s economic progress.
According to Arnold, “From inception, the then National Development Corporation (NDC), by which name the entity it was known at the time, engineered the framework and conditions needed to attract and retain some of Saint Lucia’s most successful businesses in three key sectors- manufacturing, tourism and business process outsourcing.”
He said today the agency was recognized as a purpose-driven, vision-focused and professional investment promotion unit, which has made remarkable strides in advancing Saint Lucia’s socio-economic development.
“Over the years we have facilitated the birth and expansion of some of the biggest names in local manufacturing by providing them with the appropriate infrastructure, offering logistical support and often assisting them in securing much-needed incentives. This includes companies such as Baron Foods, North American Assemblies Ltd, Caribbean Manufacturers Limited- CARIMAN and Windward & Leeward Brewery Ltd- now Heineken Saint Lucia, which continue to operate from factory shells within the Industrial Estates owned and managed by Invest Saint Lucia. These enterprises have generated hundreds of employment opportunities over the decades and have continued to stimulate economic growth.”
With tourism continuing to be a major driver of the local economy, the agency has assisted and facilitated key players in the industry such as Sugar Beach, a Viceroy Resort, Sandals Resorts International, Hotel Chocolat, Harbour Club and Coconut Bay, to name a few.
Chairman Arnold says he personally looks forward to the successful completion of several other developments in the sector which are currently being facilitated by Invest Saint Lucia. These include Courtyard by Marriott, Grand Hyatt at Sabwisha, Choiseul, Dreams and Zoetry- AMRestorts at Canelles,
At the gala ceremony, Invest Saint Lucia released a documentary video chronicling the agency’s 50-year history. The video also features 50 iconic NDC/Invest Saint Lucia past and present employees.
The National Development Corporation, now Invest Saint Lucia was incorporated by an act of Parliament in 1971, and the entity began operations in 1972.
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