SLP says it will attract EC$3.5 billion in foreign investments

By Samuel Sukhnandan, Staff Journalist
SLP leader Dr. Kenny Anthony addressing members of the local business community on Thursday.

SLP leader Dr. Kenny Anthony addressing members of the local business community on Thursday.

The Saint Lucia Labour Party (SLP) has set itself a major task of attracting foreign direct investment totaling over EC$3.5 billion in the next five years, if they are re-elected to office.

Speaking at the official launch of the party’s 2016 election manifesto on Thursday at St. James Club, Prime Minister Dr. Kenny Anthony said investment will be sought in tourism, infrastructure, energy, ICT and other services.

“This will help to create the jobs that we need to reduce unemployment,” he explained.

But more importantly, the SLP wants to strengthen the investment targeting and attraction processes, to attract high quality investment which can also support economic and social development here.

In addition to this, the SLP plans to continue with its tax reforms strategy, both in respect of personal income tax and corporate tax. They plan on granting more tax relief to pensioners and increase the threshold for the payment of land and house tax from $200,000.00 to $300,000.00.

As a means of encouraging and stimulating growth and investment, the SLP plans to further reduce the corporate tax rate, and has promised that if re-elected, it will reduce the current rate from 30 percent to 28 percent.

“We were stymied in our efforts at tax reform because of the state of our economy over the past four years but now that our economy is better and stronger, we will pursue our tax reform agenda,” Dr. Anthony remarked.

Attendees at SLP's manifesto launch.

Attendees at SLP’s manifesto launch.

Meanwhile, SLP candidate, Dr. Ernest Hilaire said his party is confident based on its assessment of the Citizenship by Investment Programme (CIP), Saint Lucia can attract EC$3.5 billion in the next five years.

“That will substantially change the employment landscape and the business development landscape in Saint Lucia,” he stated.

Dr. Hilaire said in discussion with investors, there are a number of issues that are coming up, one of which is the speed with which investment proposals are considered and approved.

“In the manifesto, we have made a proposal to establish an investment delivery and support working group to increase the pace of investment, which brings together the key agencies and stakeholders,” he stated.

The SLP has also proposed to actively seek to increase the number of double taxation agreements and investment treaties to further enhance Saint Lucia’s attractiveness to foreign investors.

(4)(45)
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34 comments

  1. There goes a nother shameless and desperate act from Kenny.
    Just like the hundred million injection into the economy once he got in office back in 2011.
    Ernest Harley stood up in Ciceron with Robert Lewis and company on Thursday night and say that the economy was at it's worst when Sep took office in 2011 and unemployment was at the highest and from then to now the economy is back on track and unemployment is at the lowest at the moment, can you believe that.
    He also went on to say that his Government work very hard over the last four and a half years to return proper foreign investment to this Country .
    When it was Mr Anthony who when in opposition went on a rampage ill mouthing the King administration to potential investors.
    Yet there was a bunch of fools clapping as if the just herd the best thing since cheesecake.
    It would be a travesty to put SLP back there Come Monday, Lucian better wakeup.

    (0)(0)
  2. As if Labour was not in power for the past 5 years smh...

    (14)(1)
  3. I see a very vindictive and desperate KDA. He ran a very dirty campaign this election. Searched for dirt on every uwp candidate, But refuse to address the visa situation. So here is the resaon you called elections so abruptly. It still came out. Fooled me once shame on you fool me twice shame on me.

    (10)(1)
  4. Peter Saint Pierre

    Here are just a few of your bad qualities you and your government possess and the reasons why you are unfit and no longer deserve to have the privilege to represent us Saint Lucians. I am rather disgusted and it is very sickening to hear you constantly telling lies as if people are brainless.

    1. Poor Communication of Strategy
    2. Assigning Blame
    3. Inconsistency
    4. Being too slow to react and adapt
    5. Lack of Transparency
    6. Not Listening
    7. Dismissing ideas other than your own
    8. Valuing experience over potential
    9. Ego
    10. Lack of Empathy
    11. Forgetting about Leadership Development
    12. Permitting negative Gossip

    (12)(1)
  5. SMH. How can u make a statement about CIP like that ? Where is the substance to support your statement. SMH. Only party hacks will believe this and actually vote for Kenny n Tony. I have a letter from Inland Revenue to pay over $3000 in property taxes for my grandma. i could have put that money towards building my own home Mr. Kenny. U said VAT would be a burden on the poor and middle class why not reduce the income taxes we pay? You busy on pensioners. DO them a favour and remove property tax u imposed on them in 2012. The same pensioners all u give gratuity package, gv a post in gov't to get monthly salary and also another gratuity at the end of the contracts. These hv it good. The party hacks. The rest of us are left to struggle. We, young ones find it so hard to buy a piece of land, build a house. Now all we can do is buy a 2nd hand vehicle form japan, but u have high taxes on that too.

    (10)(1)
  6. You see the dishonesty and deceit. Unpatriotism.
    When King was in office Kenny bragged and boasted he would tell foreign investors do not come to St. Lucia. So by his actions who was he going to hurt?
    Now he is telling us he going to bring foreign investment to St. Lucia. Is it the same foreign investors he told not to come to St. Lucia?
    You see the disrespect. The self serving nature of Kenny Anthony. The man treats us like fools. Like we cannot think.
    Is that the actions of someone GENUINELY interested in St. Lucia? Prepared to commit economic sAbotage on St. Lucia for his own selfish ways.

    (10)(0)
  7. Kenny your last promise was for an injection of 100 million, now you promising 3500 million.

    (4)(0)
  8. OK Kenny if what you say is true that st.lucia will attract $3.5 billion in direct foreign investment in the next five years, I still want Allen Chastnet to be the pm and minister of finance to watch over that investment. We feel safer with Allen.

    (5)(7)
  9. We need to invest in ourselves we don't need any foreign investors we have enough still not seeing the reason for them. Find some market for our raw materials open an international university let's build ourselves. Foreign investors go with their profits. Let's clear our debt.

    (5)(0)
  10. From the looks of it his guests did not even show up, to listen to his marjee plenty empty seats.......lol (the pic insert)

    (33)(1)
    • In attendance was the Stimulus Lady and her husband, who votes UWP, Jadia, Jade Brown, Ms. Deterville and other hacks only.

      (4)(0)
  11. eye shhyeh Yeh this time st lucians be sure to know you'll be seeing Saudis walking in this country. I shudder to think this party has a shot of wining.

    (27)(1)
  12. Wait a minute. Is that.Kenny or Tony speaking? Kenny tells investors don't invest in St. Lucia when SLP is in opposition and Tony begs them to come back.....crying he is sorry when SLP is back in????? Kenny & Tony your split personality confuses us and continues to insult us, the people who employed you.....the people who work hard to pay your salary and all the perks of the job you enjoy.

    (52)(0)
  13. SLP should learn: " well done is better then well said"

    (42)(1)
  14. Please use lubricant

    Kenny last time you say 100 million I get 15 % vat in 2boda, papa it's alright I safe , 3.5 billion papa this time might loose my life , papa I safe , goooooddddbbbyyyyyeeeeeeeee

    Oh my god they killed Kenny( South Park cartoon) only a joke folks

    (33)(0)
  15. And slp continues to lie boldly and play on our intelligence. This man really believes St. Lucians are merely simple minded and uneducated. Well we certainly aren't! And we see through your smokescreens. The lies!

    (23)(0)
  16. Noooo! Not again. Was he laughing when he said that!

    (22)(0)
  17. Backing dogs dont bite. Remember that song

    (19)(0)
  18. Prime Minister Anthony appears timid in addressing the economic development for the country. He had a perfect opportunity to increase infrastructure spending but was stymied by his critics. The government in most developing countries is the greatest source of employment, St. Lucia is no exception. In addition, there is a growing inequality in the country that he failed to address. What's about increasing taxes on the rich and reducing taxes on medicine and food? Increase taxes on windfall profits and dividends. Monetary policies were never addressed. Why is mortgage and loan rates so high? PM Anthony needs to addressed the Eastern Caribbean Central Bank (ECCB) monetary policies. Prime Minister Anthony's leadership is a perfect example of how timidity can lead to paralysis.

    (26)(0)
  19. Undecided voter

    If you all truly deserve my vote say better days and PIP say jobs jobs jobs

    (14)(0)
  20. The desperation of the SLP has become clear as their own polls point to a wipping on June 6th.

    They have the same fraudulent poll claims as in 2008 to try and mamaguay people.
    The wild unsustainable promises like I have never seen before.
    The SLP destroys the economy in each year it has been in office under Kenny and Phillip. Yet now they claim to have the capacity to bring in billions in investment! Well if you beleive that I have a bridge to sell you in Brooklyn!
    Their lack of economic policies for 4 1/2 years created massive unemployment, disinvestment and a climate of dispair.
    Kenny is only interested in power and his self aggrandizement and the voters on Monday will let him know that his incompetence will no longer be tolerated.

    (28)(0)
  21. HAHAHAHAHAHAHAHAHAHAHAHA!

    (12)(1)
  22. That sounds like five dollars can block a hole. HA HA HA. A. big joke. I am more impressed with the other side's manifesto. So as an undecided voter, I just made up my mind today which party will get my vote on Monday.
    Sorry Kenny. I will vote for Fedee.

    (27)(0)
  23. HAHAHAHAHA ........COME ON NOW EVEN IF YOU AN SLP SUPPORTER. You know deep down inside kenny is either CRAZY, SENILE or A LITTLE COOCOO UP STAIRS - to be repeating this nonsense after he has failed to deliver on all other previous promises.

    Wow if I am an SLP Support I have just became a swing voter to swing my vote to the next side. Because this guy is seriously pushing it. Taking St.lucians for fools at all cost and with no degree of class.

    PEOPLE MAKE AN EXAMPLE OUT OF THE CRAZINESS AT THE POLLS COME June 6th .... THIS IS STRETCHING IT!

    (112)(2)
  24. Kenny Please.....MORE LIES

    (49)(2)
  25. That is a good plan for St lucia. Great idea.

    (6)(61)
    • This is a golden bluff. Desperate is as desperate does. It took you so long to come out with the amount we made on vat but you are quick to tell us what amount we will make in five years. Wishful thinking. St. Lucia need a new leader.

      (25)(0)
    • Your names explains it all 'Lala Land'

      (1)(0)
  26. KENNY YOU AND DR. NO ( Ernest Hilaire )

    PLEASE, PLEASE, PLEASE !! DON'T MAKE PROMISES YOU CANNOT KEEP !!

    Last time you promise the people jobs to date there are no jobs in the country... Oh, my bad there are jobs .... STEP and NICE

    AND WHY THE HELL SHOULD ANYONE BELIEVE YOU. That CIP program you all banking on is one of the worst in the Caribbean.

    You trying to insult people's intelligence bro,... 3.5 billion? I DON'T THINK YOU GOT THE SKILLS....

    SIT DOWN !! I SAID SIT !!

    (78)(2)
  27. DAYBAN BLOFFA,, you couldn't a dallor for the past 5 years now you want to talk non sence,, to full st.lucians again,, st.lucians not fulls any more

    (63)(3)
  28. What about the immediate injection of $100M???? Man get out of there with that.

    (81)(1)
  29. You guys could not have gotten 1 million in investment the last 5 years, now you are telling us that you want to make 3.5 billion in the next 5 years. What a bluff.

    (123)(2)
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