Electronics company gets green light, local business to expand
The St. Kitts and Nevis Cabinet with Governor General His Excellency Dr. Sir Cuthbert Sebastian (center at front)
ST. KITTS, AUGUST 23, 2010 (CUOPM) – A new company is to begin assembling electronic devices for the local and regional market.
This has been disclosed by Minister of Information, Sen. the Hon. Nigel Carty.
In a recent Post Cabinet Briefing, Mr. Carty also disclosed that a local company has been granted concessions to expand and applications approved for new restaurants.
Mr. Carty said that the local company already engaged in the manufacture of windows and doors has been approved for tax concessions on imported material to facilitate its expansion into the manufacture of various roofing materials.
“Similarly, a newly incorporated company has been granted concessions to nurture a business in the assembly of certain electronic devices for the local and regional market,” said Mr. Carty, who noted that in this time of global economic recession where employment can be difficult to come by, the country would do well to have new manufacturing businesses created and existing manufacturing businesses expand, thereby creating job opportunities and spin-off business opportunities in the local economy.
“These kinds of activity will continue to receive government support because of the positive economic impact they are likely to create, not only by way of employment opportunities but also by inducing competition that will drive down the price of materials and consumer items.
In approving the applications for two restaurant Licenses in St. Kitts, Cabinet asserted that any legitimate activity that is likely to create employment opportunity, expand consumer choices and promote property rental should be given positive consideration.