PM Douglas touts construction as economic stimulant

8th building under construction at Silver Reef

BASSETERRE, ST. KITTS, JUNE 20TH 2012 (CUOPM) – The Government of St. Kitts and Nevis has given an assurance that his administration continues to seek viable, responsible means of stimulating the economy via the construction sector.

“Everywhere else in the world, construction is key to economic vitality,” St. Kitts and Nevis’ Prime Minister the Rt. Hon. Dr. Denzil L. Douglas told the 30th Annual Private Sector Gala.

Dr. Douglas told the local businessmen and women that his government is determined not only to restructure the economy, but also provide the impetus for growth.

He said the St. Kitts and Nevis Cabinet has for the past six months been involved in the in-depth evaluation of various construction-related investment projects – a number of which have now been approved, all with an eye to creating that upward trajectory in terms of economic activity that we all wish to see.

“Thursday again to be precise, Cabinet was in session all day and went on into the night, fine-tuning various construction projects in order to maximize both the employment opportunities as well as the very important multiplier effects that go hand in hand with the construction industry,” said Prime Minister Douglas.

He was of the view that the Government of St. Kitts and Nevis and the St. Kitts and Nevis Chamber of Industry and Commerce “are at one, in terms of the role that the construction sector should play in moving the economy along.”

“And so, because the Government has been highly strategic in our design and provision of concessions to the construction industry, we can now state that not only will there be the roll out of these new projects, but we will also be in a position to point to the tangible results in terms of increased economic growth in fiscal year 2012quarters 3 and 4,” Prime Minister Douglas disclosed.

“On these and all other Government priorities, the view of government, the views of business and labour are not only welcome, they are in fact key,” said the St. Kitts and Nevis leader.

Dr. Douglas said that the various contacts between the government and the private sector as important public manifestations, “in-depth, and ongoing conversation (and), very important conversation between those who function at the helm of the private sector and those whose responsibilities fall within the realm of Government.”

“And these conversations we do value, we do welcome them, because they must assuredly advance that public good,” he said.

Recently, Minister of Tourism and International Trade, Sen. the Hon. Richard Skerritt said despite the global financial and economic crisis, dozens of jobs will soon be created in the construction sector as projects continue and others coming on stream over the next few months.

He said then that the Frigate Bay Beach Resort is to be renovated and Windsor University School of Medicine will soon start construction of a new lecture hall.

A new private hospital and a new medical school are to be constructed at Frigate Bay and early in 2013, a new hotel will begin construction at Banana Bay on the South East Peninsula.