SIDF praised for transformation of the St. Kitts and Nevis economy

Basseterre, St. Kitts, 29th August 2013 (CUOPM) – The decision of the Sugar Industry Diversification Foundation (SIDF) to become involved in the transformation of the St. Kitts and Nevis economy is being hailed by Prime Minister the Right Hon. Dr. Denzil L. Douglas.

The SIDF has also assisted in the financing of the soon to be opened Kittitian Hill Resort which is to be managed by Sedona Resorts, the renovation and refurbishing of the Ocean Terrance Inn as well as several other projects aimed at empowering nationals in entrepreneurship, homeownership, land ownership and skills training.

Describing the Sugar Industry Diversification Foundation (SIDF) as “the most talked about foundation in the world,” Dr. Douglas thanked the local foundation “for its decision to become a significant investor in Christophe Harbour in the interest of the long-term opportunities.”

The Prime Minister said Christophe Harbour as well as the other components will continue to assist in the transformation of the economy.

“It is noteworthy that my political opponents vehemently opposed this decision by the SIDF to invest in Christophe Harbour, the owners of hundreds of acres of valuable land and other assets which far outweigh their liabilities. That is even more reason why we must all work together, I emphasize work together to ensure that Christophe Harbour investments bring the returns expected by all of our stakeholders,” Prime Minister Douglas said.

He pointed out that the overall vision for Christophe Harbour and the millions of dollars that have been invested in St. Kitts and Nevis so far are very important to the efforts of the Labour Government to improve the quality of life for all nationals and citizens.

Speaking at the symbolic ground breaking ceremony for the construction of the US$50 million Russian-financed Ocean Grove Development and the Windswept Residence Club, Prime Minister Douglas said he is aware that many nationals have found good quality jobs at Christophe Harbour and used the opportunity to congratulate the Management and staff of the two restaurants known for the world-class cuisine and service quality levels in the travel and tourism sector.

He said the ground-breaking ceremony signals that the luxury, mixed community and resort development area of Christophe Harbour, is continuing to recover from its recent challenges and difficulties and that a new wave of construction growth is beginning.

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