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PRESS RELEASE – A local delegation headed by the Minister for Commerce, Business Development, Investment and Consumer Affairs, Emma Hippolyte, represented Saint Lucia at the third annual C3 Arab American Summit held in New York on October 6th.
The delegation, which also comprised both the Chairman and the CEO of Invest Saint Lucia, as well as the Saint Lucia Tourist Board’s Manager for North Eastern USA, profited the opportunity to participate in this year’s event, by presenting the current investment profile and opportunities available on Saint Lucia.
In her address to the C3 Luncheon, Minster Hippolyte underscored Saint Lucia’s competitive advantages in the key sectors of Tourism, Smart Manufacturing and Infrastructure; stressing the importance of FDI to the island’s economy.
“Once Saint Lucia agreed to participate in this Summit, our primary focus was to pursue new opportunities for generating sustainable foreign direct investment into our island. By “sustainable”, we mean investments that adhere to the “triple bottom line” of economic viability, social equity and environmental sustainability.”
“In essence,” she continued, “investments that contribute to the national development goals of Saint Lucia. We therefore anticipate that this Event will help solidify Saint Lucia’s already longstanding relationship with both the Arab and American communities.”
She remarked that while Saint Lucia continues to receive numerous accolades and worldwide recognition for its tourism product, it is more than just your typical wedding, honeymoon and vacation getaway. She explained, “Saint Lucia has earned the proud reputation as the freest economy in the Caribbean based on the Economic Freedom Index; and is still ranked as the best place to do business in the English speaking
Caribbean by the World Bank’s “Ease of Doing Business” Report from 2007-2014.”
“Investment Never Looked Better”Saint Lucia’s delegation also had the pleasure of meeting with His Royal Highness Prince Abdulaziz Bin Talal Bin Abdulaziz Al Saud, Kingdom of Saudi Arabia, who received the C3 Global Leadership Award.
They also engaged a number of other overseas participants in discussions on the potential to invest in the high-end tourism sector; niche manufacturing, especially in agro processing; alternative energy and smart technology solutions; as well as in educational and vocational training establishments, including reputable offshore universities and research institutions.
The C3 Business Summit provided a great opportunity to meet with leaders who are responsible for the tremendous growth of best practices and knowledge transfer between the regions. The Event was held in New York City at the Union League Club.