The Prime Minister of St Kitts and Nevis, The Honourable Dr Timothy Harris, was keynote speaker on 8 July at the London-based Caribbean Council where he addressed a mixed group of business leaders, entrepreneurs and financiers with interest in the Caribbean. Dr Harris was invited to address the group of nearly fifty individuals to apprise them of his new Government’s priorities and policies.
The new Government led by Dr Harris and his coalition Party “Team Unity”, came into office in February 2015 with a programme of reform and a determination to reinvigorate the tourism sector. Key plans include:
- a cruise ship pier for the 2016 season
- the recent launch of Kittitian Hill, a sustainable luxury development on a 400-acre organic farm on St. Kitts’ north coast
- another upscale property, a Park Hyatt hotel, scheduled to open in 2016
- a Koi Resorts property should be on stream within 24 to 36 months
The Government has additionally removed VAT of 17% on food and formalised the legislation for taxi and tour operators in the country as well as a number of pro-business policy initiatives including:
- The creation of new incentives for foreign industries to relocate to St Kitts and Nevis through competitive tax holidays, the waiver of import duties on the importation of plant and machinery, and a pro-business agenda for growth
- The implementation of 20 recommended reforms for its citizenship by investment programme to enhance its long term sustainability
- An emphasis on promoting investments that are not dependent on citizenship by investment including in medical and sports tourism, and the arts; and joint ventures with private sector entities engaged in the business of harnessing and marketing intellectual capital.
- The provision of incentives for renewable energy companies focussed on wind, solar and geothermal energy production
- The proposal of encouraging off-peak tourism and the development a new national brand
- The reduction in the electricity price for businesses and residents
For more information about the event, please click here.