Investment Never Looked Better

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LOCATION OF THE FUTURE AND ‘FREEST ECONOMY IN THE CARIBBEAN’

US-based Site Selection Magazine recently identified Saint Lucia as one of the countries outside the United States, where companies will locate within the next five to ten years from now. The Magazine cited a population with a burgeoning middle class; political and economic stability; an industrious, well-educated workforce; and quality foundational infrastructure as some of the considerations for investing in Saint Lucia over other islands. Saint Lucia has comparative advantages in the areas of regulation; starting a business; market access; incentives; transportation; infrastructure and quality of life, and has been ranked as the second freest economy in the Caribbean based on the Economic Freedom Index of 2016 (70%).

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STRATEGIC LOCATION

Saint Lucia’s strategic geographic location provides access to major markets in Europe, North America, the Caribbean and Latin America. The island has two main seaports, two marinas and two airports and is well serviced with direct connectivity to several major North American gateways and the United Kingdom. Saint Lucia’s location in the Atlantic Time Zone as well as its fairly neutral-accented English speaking population makes it an attractive destination for the provision of near shore Business Process Outsourcing (BPO) and contact centre services to North American markets.

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THE SAINT LUCIA INTERNET EXCHANGE (SLIX)

The introduction in 2015 of a domestic internet exchange point (SLIX) is an added attraction to potential investors. SLIX facilitates the exchange of domestic internet traffic and eliminates the need for expensive international transit providers. The SLIX ensures that internet traffic generated in Saint Lucia and destined for customers on island will remain in country, rather than endure lengthy, expensive and sometimes insecure international routes. The SLIX will also lead to high speed data transfers, reduced latency, improved routing efficiency, improved bandwidth and reduced third party costs.

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MODERN ICT INFRASTRUCTURE

The current fibre optic ring around the island provides incomparable uptime, sufficient redundancy and dedicated internet access. Additionally, the excellent bandwidth capability allows service providers to offer an array of telecommunications services. The telecommunications network features:

  • Two mobile services providers
  • Efficient internet provider (fibre optics, DIA and wireless networks)
  • GSM, 3G, & 4G networks
  • GPRS & EDGE capabilities
  • Metro Ethernet and MPLS services
  • International Private Leased Circuits (IPLC)
  • Virtual Private Networks (VPN)
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INDUSTRIOUS, HIGHLY SKILLED AND TRAINABLE WORKFORCE

Saint Lucia possesses a vibrant, dynamic, English speaking labour force that can be easily trained to meet the employment needs of businesses. This is supported by an inclusive primary, secondary and tertiary education school system. Saint Lucia also has access to a regional pool of skilled labour through the Caribbean Community Single Market & Economy (CSME) and Organisation of Eastern Caribbean States (OECS) Economic Union arrangements. Work permits are not required for various categories of skills moving within the region and none are required at all for movement of persons throughout the sub region.

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FOCUSED ON RENEWABLES

Renewable EnergyThe Government of Saint Lucia has demonstrated through several initiatives its support for renewable energy. These initiatives include the revision of the Electricity Supply Act, the establishment of the National Utilities Regulatory Commission (NURC), setting a target of 35% renewable energy by the year 2020, joining the Carbon War Room 10 island challenge and significantly advancing the geothermal energy exploration and development process. The proactive approach provides an encouraging framework for an investor wishing to invest in renewable energy, albeit currently only through announced Requests for Proposals (RFP).

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CONSTRUCTION OF TWO NEW HOSPITALS

Saint Lucia will soon see the official opening of two state of the art hospitals – the redeveloped St. Jude’s Hospital in the south and the New Owen King EU National Hospital in the north of the island. These new state of the art medical facilities will be centres of excellence for health and medical care providing quality, efficient and accessible health care services.

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ENABLING REGULATORY AND LEGISLATIVE ENVIRONMENT

A number of initiatives are underway to make Saint Lucia more efficient and competitive including:

  • The recent adoption of a formal Public-Private Partnership (PPP) policy that offers alternative financing;
  • Harmonization of ICT Policies, Legislation and Regulatory Procedure (HIPCAR), the National E-Commerce Policy and the Caribbean Regional Communication Infrastructure Program (CARCIP);
  • An integrated Electronic Health Database; a national database of patients which can facilitate research work;
  • Introduction of a Clinical Trials Act to support medical research.
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AREAS FOR INVESTMENT
Castries Harbour
  • Business and Knowledge Process Outsourcing (BPO and KPO);
  • Roads, ports, bridges;
  • Renewable energy;
  • Hospitality, vocational and technology training institutions;
  • Reputable offshore universities;
  • Medical research facilities;
  • Ancillary health care facilities.


Contact Our Infastructure Sector Officer

Marie-Grace Walcott
Investment Promotion & Fulfillment Officer

mwalcott@investstlucia.com

Testimonials

Siobhan Alexander
Country Manager
Digicel St. Lucia

…any investor who’s looking to grow and invest, a Saint Lucian market is absolutely perfect ...

Debra Tobierre
Managing Director
Emeral Vista

I would definitely encourage an investor to consider investing in Saint Lucia primarily because again opportunities exist because we are a young developing nation.” 

Ivan Augustin
General Manager
Ark Teleservices

To any potential investor, I would tell them Saint Lucia is a happening place. We have warm weather, we have a great pool of talented people and government is leading the charge to invite everybody in...

Paul Ash
General Manager for Operations
IGY Rodney Bay Marina

One of the things that has been quite impressive and I’m particularly pleased with is the ease and accessibility of support from Invest Saint Lucia and the Government of Saint Lucia …