Labour Government continue efforts to stimulate investment
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Ocean Edge |
BASSETERRE, ST. KITTS, JULY 13TH 2010 (CUOPM) – Despite a reduction in investment flows into St. Kitts and Nevis, efforts continue to stimulate local and foreign investment.
Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas said St. Kitts and Nevis as a small developing must confront the global challenges and remain committed to building a modern country and society, while encouraging the quickest possible return to economic growth.
“Obviously, one of the fall-outs of the prevailing global situation is the reduction of investment flows into the Federation. Of course, this emphasizes the need to generate further domestic savings, but at the same time, there is still the need for foreign investment inflows,” said Prime Minister Douglas at the 28th annual private sector banquet of the St. Kitts and Nevis Chamber of Industry and Commerce.
Dr. Douglas who recently led investment missions to Canada and Europe in an effort to attract new investment to St. Kitts and Nevis noted that over the years his Labour Party Administration has built up an infrastructure that is conducive to investment.
“That is why there is great importance in attracting new investment from local and foreign sources alike. I strongly encourage our Private Sector companies to engage in innovative and positive ways and invest in the economy of our country. Doing so, certainly, would help stimulate our economy into the medium term. This is a time to be bold and to lay the groundwork in anticipation of the recovery of the global economy,” Prime Minister Douglas told the local businessmen.