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Approval of Saint Lucia Competitiveness Agenda by the Compete Caribbean Partnership Facility

By National Competitiveness and Productivity Council

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(PRESS RELEASE VIA SNO) – The Compete Caribbean Partnership Facility (CCPF) and the National Competitiveness and Productivity Council (NCPC) will partner to undertake the project “Saint Lucia Competitiveness Agenda & Action Plan”.

The purpose of this technical assistance will be to foster competitiveness, productivity and innovation in Saint Lucia.

The project has the objective to enhance innovation, productivity and competitiveness, and foster sustainable economic growth in Saint Lucia. The project will define a National Competitiveness Agenda that reflects consensus between the public and private sectors and civil society; build capacity within key institutions such as NCPC and the Department of Innovation; and support the implementation of priority business climate reforms detailed in the Agenda.

This project deepens the successful partnership that the Government of St Lucia and Compete Caribbean have cultivated to improve competitiveness and the Country’s business climate. During phase 1 of Compete Caribbean, this partnership produced the NCPC and the Commercial Court.

“The Compete Caribbean Program is one of the best initiatives implemented in recent times, it has the potential to transform and enhance the region’s competitiveness. St. Lucia benefited from funding assistance from CCPF through the establishment of the NCPC.

Since then, issues surrounding productivity have taken centre stage.” said Fiona Hinkson, Executive Director of NCPC.

Dr. Sylvia Dohnert of Compete Caribbean reflecting on the organization’s support to Saint Lucia explained that “Compete Caribbean is much more than providing financing for projects. We are about dialogue with national stakeholders to promote improvements to the approach to private sector development; supporting transformative reforms; and establishing and strengthening institutions capable of sustaining the change momentum beyond Compete. We appreciate working with the Government of Saint Lucia because a strong partnership is a prerequisite to, and the most critical ingredient for, the success of any Compete-supported initiative”.

This assistance will be funded by the Inter-American Development Bank through the Compete Caribbean Facility in the amount of USD200,000; and by the Government of St Lucia that will provide contributions in cash and kind of US$140,000.

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