Invest Saint Lucia targets US$1.5 billion in investments

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Invest Saint Lucia targets US$1.5 billion in investments

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PRESS RELEASE – Invest Saint Lucia (ISL) has projected a flow of US$1.5 billion in investment projects in Saint Lucia by the year 2020.

The island’s lone national investment company said it also plans to create 8000 jobs by that time.

ISL last year recorded US$168 million worth of investments, out of which US $124 was attributed to foreign investment. Also last year, the company helped Saint Lucia welcome 2,914 transient jobs and 577 permanent ones that were directly attributed to investments. Some 277 of the permanent jobs created last year by ISL went to tourism, while 183 went to infrastructure and 117 to the private commercial sector.

This year, ISL projects investment flows of US $331 million and 2,200 jobs. Among new investments expected this year are chicken processing facilities, a pasta and ramen processing facility, a flour mill, an insulated concrete farm factory, a dining and entertainment centre, two 4-star developments, a 5-star hotel development and another development that straddles both the tourism and infrastructure sectors.

Several developments that started last year are also due for completion this year, including hotels and commercial centres. Apart from several hotel and commercial properties under construction in the north of the island, ongoing projects also include the Six Senses Residences at Freedom Bay and a hotel project being undertaken in the Anse La Raye/Canaries area by The Boka Group.

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7 COMMENTS

  1. This is not very honest. One of the big projects mentioned here is the Freedom Bay project which has stalled out as there is not the investment money to build the project as was originally promised. It's just another pyramid scheme that is likely to fall apart. How can a project like this be completed this year when development has stopped? How does that work? And now with the Brexit issue, investment money from the UK s certainly going to dry up.

    The people who write these press releases need to find a new job because his fiction certainly isn't going to Eli anyone or tell any kind of real story.

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  2. The onlt way ISL can bring business into this country is by selling our passports, what a shame! By the way, my dear electorate do some background search online on the company which is supposedly building a hotel in choiseul, they have absolutely no experience in hotel chains, they are a construction company. And do a simple Google search on the two guys representing the company from Bulgaria which is not even a member of the Bulgarian chamber of Commerce. Hmmmmmm, something tells ne these guys are just out to get a passport, once again the joke is on us citizens.

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  3. ISL is a joke. They only exist to aid the businesses of friends and family members.

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  4. Set the alarm clock; wake me up when it all happens, in the mean time,
    stop the bluff and cut the lies. Why didn't we hear all about this six months
    ago, why just now at election time? I don't buy it, too little too late.

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  5. As long as talk is free and cheap any monkey can claim to be Able to beat lion.
    All of them fellers all playing with words.

    But people like that must recognize that Dr. Anthony himself through his promises and tricks has made st. Luciana into masters of detecting bluffs and deceit.

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