FDI in St. Lucia reaches US$120 million

By SNO Staff

McHale Andrew.

The Saint Lucian economy has recorded US$120 million in foreign direct investment (FDI) for 2014, realizing half of the set target of US$200 million over a two-year period.

This announcement was made by Chief Executive Officer of Invest Saint Lucia, McHale Andrew, during a press conference on Friday last.

Andrew said St. Lucia is also likely to benefit from a number of investment projects in the New Year, which could see an increase in FDI inflow.

According to him, despite being able to reach that success, the new investments this year, did not have any significant economic impact.

“Saint Lucia needs major investments that can make a meaningful impact in creating a strong investment climate and creating a dent in the unemployment levels”, he told media operatives.

At least six major projects are being considered for next year, three of which are in preparatory stages. Andrew hinted that two of these projects are of a medical nature.

He also highlighted that the the high cost of doing business here and the indiscriminate disposal of garbage, are some of the reasons why investors are discouraged from coming to Saint Lucia.

Andrew said his team is working closely with the local private sector, to ensure that these issues are addressed soon.

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24 comments

  1. Why are these educated guys allowing themselves to be dragged into such political shame?

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  2. Let us live in peace and unity

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  3. Us 120 mil invisible dollars lol

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  4. I don't know if the figures are exaggerated but I am not at all surprise that improper garbage disposal will drive investors away because in most countries garbage and many other factors we take for granted in this country can bring down your property value.

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  5. WOW because of garbage....come again

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  6. Oui mamma! Are these "ear-marked" potential FLOWS of FDI? Because if this $120 million was a STOCK of FDI, meaning, already on hand, it would be a simple matter of BRAGGING about all and the NATURE of these FLOWS (on hand, or stock of FDI arising from FDI activity in 2014). I am very confused. Please help the ignorant here.

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  7. Well well, well, why are my people so negative? For once if some of you are of a different opinion, why not come with the facts to show. I have no problem with anyone refuting what has been said, however if they are, they should come with the facts. If you don’t have that, then ask questions. We post things but if I was to ask most of the bloggers what really they are objecting too, they may not have a clue. I think it is time that my people put politics aside and do or say things that will benefit us as a whole, and I don’t care whether you carry, red, yellow or pink. We are celebrating Christmas and looking forward to the New Year and therefore I think it is the time to be thankful to God for giving us life to see the closing of 2014 and renewed health to enter the New Year. I take this opportunity to wise each one a Christ centered Christmas and a bright and prosperous 2015.

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    • ===========================================
      I have no problem with anyone refuting what has been said, however if they are, they should come with the facts.
      ===========================================

      Where are the facts on which to base this proud boast of $120 million?

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  8. WHAT A BUNCH OF BS THE SALOPS ARE AT IT AGAIN ELECTION COMING

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  9. Well well well now that is a new low indiscriminate disposal of garbage. Are St lucians that stupid?

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  10. This statement was made only to those suffering from "SLP Ignorance" That is those swallowing everything the SLP says and not using their brain. Wasn't Robert De Niro in St Lucia before he went to invest over 1/4 billion dollars in Antigua? Tell the Nation (the Flambeaus) the truth. Stop talking to the labourite, who you know, do not know a lie when it comes from your mouth.

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  11. China is not bailing out the Russia roubles, get your facts straight. ....plus most of the Russian billionaires and millionaires are filing for British investors citizenship, because the rouble is taking a beating...$1us:100 roubles

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  12. China is not bailing out the Russia roubles, get your facts straight. ....plus most of the Russian billionaires and millionaires are filing for British investors citizenship, because the rouble is taking a beating...$1us:100 roubles

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  13. Santa please send St Lucia 120 million USD that all the people will see in 2015

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  14. Big mistake of the Compton and King government was to allow the taiwanese to come in and the Chinese closed tier embassy within 3 days. Leaving us as a brook country to lend from the rip off IMF and implementing the VAT. This was done under pressure from the greedy Yankees. China would have been a better choice as a lender.The have 3 trillion Dollars in reserves. Any comments Mr. Chastenet? china is bailing out the Ruble for Russia. Just forget aboutthe Yankee cowboys.

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  15. What an airy fairy story! $120m US in investments but not the name of 1 investor or 1 project. Why should anyone believe this. Come back when you have concrete facts.
    Besides if these investments were real, government ministers would be the first to be talking about them.

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  16. and what are they andrew, be precise what the projects that have brought in those monies

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  17. well look it smh

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  18. What a SHOW.

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  19. Well ,all I can say is that our people need to be re-educated about the disposing of garbage around their homes and perhaps it will filter through

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  20. "indiscriminate disposal of garbage",that's a new one,what next?,the sun is too hot,where are these "projects".just a waste of tax payers money spent on invest st. lucia.

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