BASSETERRE, ST. KITTS – Nevis
OCTOBER 29TH 2006 (CUOPM)
Saint Kitts – Nevis could soon be the home of a Ritz-Carlton ““ one of the grand hotels and resorts of the world.
The hotel’s name was one of several high-level investment projects listed by St. Kitts and Nevis’ Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas, at varying stages in the development process being pursued in talks with the private sector and his governing St. Kitts-Nevis Labour Government.
Prime Minister Douglas told some 200 participants at the National Consultation on the Economy, that despite the challenges, St. Kitts and Nevis continues to see on a daily basis the confidence that domestic and foreign investors have in the potential of St. Kitts and Nevis by the high level of investment taking place.
The multi-million dollar projects which will see the construction of hotels, resorts, marinas, golf courses, villas, condominiums, restaurants, shops and thorough-bred horse and dog racing tracks, include Cable Bay Resort (Frigate Bay); La Vallee Development (Sandy Point); Kittitian Heights (Whitegate); Port Zante (Basseterre); Ritz-Carlton (Frigate Bay); Marriott Vacation Club (Frigate Bay); Beaumont Park (Whitegate) and the Auberge Project (South East Peninsula).
“These developments will result in well over EC$1 billion in investment in our economy over the medium-term. There is clearly no doubt that the growth potential of our economy is strong and that we need to continue to create an environment that is conducive to strong and sustained economic growth,” said Prime Minister Douglas, who is also Minister of Tourism.
He said his St. Kitts-Nevis Labour Government is committed to creating an environment, which is conducive to private sector development that would attract both foreign and domestic investment and a significant amount of resources has been expended on infrastructure development to foster growth.
Dr. Douglas said that partnership with the private sector is crucial to the continued sustainable development of the St. Kitts and Nevis economy and therefore continued dialogue must remain an integral part of the development process in the strong vision to continue the transformation of the economy.
“We can only build a strong, vibrant economy if all of us take ownership of our various roles and come together to ensure that there is cohesiveness. This sort of unified and mutually agreeable approach is the only way by which we will be able to achieve success. However it is not a popular approach, as it requires commitment, leadership and sacrifice. This would be difficult for those who are insincere, disloyal and who pay lip service to nation building,” said Prime Minister Douglas who reiterated that the task he has outlined at the National Consultation on the Economy “is not for the fainthearted and pessimistic.”
“When we look at the daunting task ahead of us we must conclude that the only way we would be able to build our nation is if all of us were to join together, pooling our resources and with collective wisdom confront the enormous challenges, which lie ahead. I urge all of us gathered here today to embrace the spirit of our national motto “Country Above Self” as we seek to transform our economy to ensure sustained macroeconomic stability and improvement in the quality of life for all of our citizens,” said Prime Minister Douglas.
The National Consultation on the Economy is held to seek the recommendations, suggestions, and comments from all stakeholders ahead of the presentation of the 2007 Budget in December.
The consultative process has the endorsement and representation of the several organisations including the opposition People’s Action Movement (PAM), the Nevis Island Administration, the St. Kitts and Nevis Chamber of Industry and Commerce, the St. Kitts Christian Council, the St. Kitts Medical Association, the St. Kitts taxi Association, the St. Kitts Teachers Union, the TDC Group of Companies, the St. Kitts Youth Parliament, the St. Kitts Cricket Association, the Farmers Association, the St. Kitts Economic Society, the Nevis Reformation Party, the Returning National Association, the St. Christopher Heritage Society and the media