Taiwan to lend Saint Lucia US$100-million for airport redevelopment project

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The prime minister addressed the Saint Lucia Chamber of Commerce last week

(SNO) — Taiwan has agreed to lend Saint Lucia US$100-million for the redevelopment of Hewanorra International Airport, Prime Minister Allen Chastanet has revealed.

The rime minister addressed the Saint Lucia Chamber of Commerce last week Thursday where he touched on a variety of areas including infrastructure, health care, education and economic development.

“We have come to an agreement with the Taiwanese Government who have agreed to lend us 100 million US dollars to be able to do that project,” he stated, adding that the loan is being supported by the airport development charge.

Additionally, he stated $50-million will be borrowed from Taiwan for major upgrades of existing roads island-wide.

According to Chastanent, the road rehabilitation charge on gasoline will also be used to service that loan.

During his address to the Chamber, the prime minister said key indicators in the Saint Lucian economy have been “encouraging,” point out that tourism continues to show signs of growth and consumption and economic activity is on the rise.

“We have already seen that with the reduction of the Value Added Tax rate of 12.5 percent we are currently collecting slightly more money than we were collecting when we were at 15 percent,” he stated. “So mathematically that tells you that the turnover in the economy is absolutely there.”

He also said there is encouraging growth in in the information technology sector which has seen the creation of 2,000 new jobs.

He singled out the expansion of KM2 and OJO Labs.

Chastanent said the National Apprenticeship Programme and the partnership with Monroe College which will see hundreds of Saint Lucian young people receive hands on hospitality training.

“We continue on course and I am very encouraged,” he stated on that matter. “The amount of money that is about to start flowing into this economy and the investment that we are going to be making into the infrastructure of this country . . . there is a lot of work taking place on the ground and we are moving. What we are focused on is developing this country, improving the physical capacity, improving the human capacity and improving the bureaucratic capacity of this country.”

He stated that his government has been able to record amount of investment to come to Saint Lucia.

“We have taken our time to be responsible and ensure the EIAs are done and we follow the law and to make sure it is going to benefit every Saint Lucian,” PM Chastanet pointed out. “We are calm, cool, collected and focused and we will deliver to the people of Saint Lucia.”

(15)(14)
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17 comments

  1. im in Canada and was having a chat with my professor on how the cost of living in Lucia ridiculously high and how soon, just like Jamaica, we will be owned by foreign investors. people need to realize that half of these ministers are only there for their pockets, from that deal Chasnet is being paid a significant amount of money under the table and in return the foreign investors get more rights than the natives. We see it everyday, they own the beaches, they own every profitable business and soon they will own the island.

    (1)(0)
  2. When will we learn ? The people fail to value the power of the vote. We are soon to be owned by foreigners.

    (3)(9)
    • Country buck economic philosophy. No nuance and no sophistication. You did not ask how the disbursements are going to be made. When they are going to be made. When we will start paying back, when will we be finished, and what is the cost of the money or the interest rate. Some more intelligent approaches to financing necessary growth and economic development expansion expenditures.

      (0)(0)
  3. Always remember, the Borrower is SLAVE to the Lender.

    (2)(5)
  4. i like that the Letter P was omitted from the word Prime Minister cus he is a "real Rime Minister" lmao

    (2)(8)
  5. US$100 million in an airport. Where is the investment in the hospitals? Where are our priorities?

    (8)(8)
  6. We are supposed to be an independent nation but every government goes around borrowing money the we, the people have to pay back.... smfh... and we make a big deal on independence day!! Shitty situatin...shitty government.... small minded people who can never stand together!!

    (7)(7)
  7. yh you damn right everything will go up for sure transportation with that fuel charge, but lets ask the idiotic Lucians that keep voting them fools in, to screw them in the @#s how we will be able to afford all these increases and cost of living when its heading for the moon like a rocket, considering our salaries never increase, all you Chastanet lovers and kenny lovers tell me how you fools will cope when you cant eat a proper meal and have to continuously resort to a dilapidated hospital for health care.But hey it don't matter to you right? All that matters is the chicken and beer they give ya'll today at some foolish rally promising you jobs and to do better than the next.

    (10)(8)
  8. I have to laugh at the part when he talk about the reduction in VAT. People can barley afford what's in the supermarket. 100 million dollars it's not a gift or a grant so we done know already tighten the belt add DHS to it and you wont be able to breed. He said a surcharge on gas to pay for it, economics, economics, economics, basic economics whenever there is a rise in fuel cost everything goes up from the cost of goods in the supermarket right down to taxi service.

    (14)(6)
    • i liked your comment by mistake!! Basic economics would be that a reduction in Vat, no matter how small that reduction is, spending power of the consumer increases. So now instead of buying 1 small bottle of oil under SLP, I now have a little more available under UWP, so now I can purchase two Big bottles because my spending power has increased! Basic Economics! all you ppl do is complain complain!!

      (14)(9)
      • I would have prefered the 15% VAT instead of a 33 % increase in fuel.
        I have spend a lot more money now we all do because fuel affects everything.
        The reduction in VAT was used to fool stupid people while increasing fuel prices.

        (8)(3)
      • yo ,what world you living in? basic economics? so you don't realize how fuel prices increasing more than they decreasing, you don't realize how much those fees at transport board increased by, you don't realize the gov want to stop subsidizing flour and sugar, some zero rated items have now become vat-able , the issue is this all this lending and borrowing and vat that's being collected and revenue generated from imports etc what happens with it? some people become richer their families, their comrades , meanwhile St Lucia is being run like a business and the health care is almost non existent, so who really suffers? well the same people fighting to keep them in power , fighting their own brothers to see them get in power that's who. The same people who never learn.

        (6)(1)
      • Which planet are you living on when last have you been home. Spending power increase ha ha ha ha ha ha clearly you have not been to the supermarkets here in St Lucia of late to get the shocker you really need pick up the phone and call sombody. Some of us on the lower end have become barrel dependent from our folks overseas especially this time of year just to make end meet The VAT was reduced yes but to please the business class what did the UWP turn around and do they add VAT on basic items that was VAT free so in other words we give it to you but we taking it back from you. 100 million US dollars on top of our existing outrageous high debt must be chump change for people like so I guess you don't have to pay well I have to pay my children children have to pay. It's Judas like you who keep putting butter in the puss mouth and have it licking its mouth all day on the belief that something sweet will come. Another Barbados in the making.

        (6)(1)
    • yh you damn right everything will go up for sure transportation with that fuel charge, but lets ask the idiotic Lucians that keep voting them fools in, to screw them in the @#s how we will be able to afford all these increases and cost of living when its heading for the moon like a rocket, considering our salaries never increase, all you Chastanet lovers and kenny lovers tell me how you fools will cope when you cant eat a proper meal and have to continuously resort to a dilapidated hospital for health care.But hey it don't matter to you right? All that matters is the chicken and beer they give ya'll today at some foolish rally promising you jobs and to do better than the next.

      (3)(0)
    • Well said ! Well said indeed that's a lot of money you talking about 3 1/2 billion EC I don't know how the country going to afford it not this generation going to pay for that I pay for the next 50yrs we have no natural disasters or forget it but that's far fetch. The country barley make this much per year aww boy.

      (4)(5)
  9. the taiwanese will do them like they did grenada and start seizing their money from everything they make when something goes wrong. what a forking fool! u want to build aiport, you going after asian money??? better you turn the banks instead. these little chinese fooling all of you blind!

    (8)(5)
    • I agree one thing for sure they own our ass right now this is a lot for st Lucians to absorb. Then he went again and borrow for st Judes this is a lot to absorb you right if we can't pay they a will sized everything like they did Grenada st Lucia in so much debt already

      (0)(2)

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