Business Focus' report is true epitome to sown seeds of Development in St. Kitts and Nevis

The magazine outlined in-depth aspects of the contributions of the country in the region’s growth and connectivity.

Friday, 10th May 2024

Business Focus' report is true epitome to sown seeds of Development in St. Kitts and Nevis

St. Kitts and Nevis: Business Focus Magazine featured St. Kitts and Nevis as an ‘Economic Powerhouse in the Caribbean. The magazine outlined in-depth aspects of the contributions of the country in the region’s growth and connectivity. Undoubtedly, it is the economic powerhouse as it has been doing great in each and every sector to foster sustainability in the region. The advancements in every sector be it, global trade and investment, country’s transformation in the terms of infrastructural, health, regional and cultural development is the epitome to this. Considerably, the developmental seeds in the country are sown by the Prime Minister, Terrance Drew who has been fostering unwavering commitment towards making the country one of the best places to live in. The continuous growth in the anticipation of Gross Domestic Product (GDP) in the statistical studies of the government is making a huge difference. The country is home to 50, 000 people having the expanded GDP expectation by 4% last year to reach around $860 million. This further as well is forecasted for the years 2024 and 2025 with the escalations of average 3.6%. [caption id="attachment_71224" align="aligncenter" width="466"]

Glimpse from the featured report[/caption] No boundaries have been set by the Drew led administration for the sustainable island state, and has been serving the best to its people. The 12 page feature itself extends the words of appreciation for all the works done by the authorities, stating the fact, “Promises made, Promises kept.”

New Government is facilitating the country’s transformation: Business Focus Magazine

Under the administration of Terrance Drew, the government laid major focus on the green and inclusive economic and social development for St. Kitts and Nevis. Efforts for the country’s transformation is the everlasting impression of the strong leadership. The overview of the key milestones reached since the PM drew came in power is the true example of transformation, and the list to this as follows:

The highest count of women ever in the federal government’s cabinet and in our parliament.

Free education from preschool to college level and equipped students with tablets and laptops to ensure to equip them with the tools to excel.
An action towards drilling geothermal energy in the country as it is a constant source of energy unlike solar and wind energy.
A vision to become a sustainable island state by 2040.

Interestingly, to put forth the development in the education sector, the government not just focused on academics but also laid an emphasis on vocational training.

The Island of St. Kitts is ready for international investment: Business Focus Magazine

The island offers extensive potential to the investor in a diverse range of economic sectors with investment ready projects available in green energy and agri-tech. The country has experienced strong growth in the foreign direct investments in recent years. Denzil Douglas, Minister of Foreign Affairs outlined the goals and priorities under the ministry’s work program in the terms of enhancing the manufacturing sector. As well, casted light on blistering trade between the US and St. Kitts and Nevis that would address the supply chain shortages, facilitate technology transfer and attract the investments through strategic partnerships.

A CBI Programme that benefits the entire country: Business Focus Magazine

The country makes optimum utilization of the funds generated from the Citizenship by Investment Programme to push the positive impacts in the country and its people. “We introduced the first CBI Programme and it is the finest. This was proven by our program being voted as number one in the world by CBI index,” stated the CIU Head MichaeL Martin. The citizenship by Investment Programme offers special benefits to the investors. Due to its popularity, the government made significant changes as well in it as the amount was increased. Earlier, $1,25,000 was required to be invested in the sustainable growth fund, however the current amount has been announced as $250,000. [caption id="attachment_71226" align="aligncenter" width="307"]

Glimpse from the featured report[/caption] “We want people to invest. We are not in the business of selling passports, we are in the business of attracting foreign investment to the country, mentioned the CIU Head. Through such a statement, the minister has made it clear that the country is leading in the terms of generating the money for the country with all the safe and secure procedures and Due Diligence is the root to foster peace and harmony in the nation. The significant facts and figures of St. Kitts and Nevis-

The dual nation island covers 104 square miles
One of the smallest populations in the Western Hemisphere
Economic growth of 4% in 2023 to reach a total GDP of $860 million
3.6% GDP average growth forecast for 2024 and 2025
42% tourism in the largest contributor to the economy at around 42% of the total
100% locally generated green energy should be powering St. Kitts and Nevis by 2030
St. Kitts and Nevis plans to be the World’s first sustainable island state by 2040
Stable political and economic environment
One of the highest literacy rates in the region at 98%
First class air, sea, communication and electricity infrastructure.
Excellent direct flight connectivity to key US airports.
Stable currency, fixed to the US dollar
The financial capital of the Eastern Caribbean and a leading financial services hub
Investor-friendly government that offers a range of tailored incentives
Strategically located in the same time zone as the US East Coast

Unique Destination in a crowded regional market: Business Focus Magazine

The country rich in culture and history leaves no aspect behind to make the country stand out of the cue. From music, outlook and food, the country has all the extra-ordinary features that could make people create their stories. St. Kitts and Nevis being as well a popular destination for the lovers of all water sports add an aspect to make the country must explored. The country is making great efforts to promote community tourism so more and more tourists can be drawn in the country. The government has created funding and provided the dollar trickles down to the local communities that promise for the development.

Holistic approach to Sustainability: Business Focus Magazine

The authorities have been working with great dedication with all the stakeholders to drive its ambitious sustainability agenda and transition to 100% green energy by 2030. All the efforts being taken in the country under the Drew led administration would surely power a green future for electricity. Not only this, by keeping the focus on the sustainable development of the nation, the government is taking all the required climate actions that not just ensures climate justice but as well fosters the credibility of government among its people.