23 Jul 2018

The following article was published in July on the CEO Insight website, an international online publication that provides comprehensive coverage of the strategic management decisions facing the modern business leader. It provides practical assistance to CEOs and decision-makers, offering  a treasury of articles highlighting business strategy, expert opinion, analysis, corporate case studies, emerging trends, leadership, growth opportunities, and challenges. CEO Insight examines how high-level executives can improve the way they manage their operations, staff, and technology with a view to building a more profitable and successful business. CEO Insight is subscribed to by business leaders seeking information on foreign direct investment, tax, EU regulation, logistics, risk management, governance and compliance, insurance and liability, sustainability, finance, business technology, communications, health care and business travel.


In this issue, Henry Martin interviews Chairman of Invest Saint Lucia – Mr. Pinkley Francis


Henry Martin:  What are the main aims for Invest Saint Lucia in the short to medium term? 

Pinkley Francis: Invest Saint Lucia (ISL), has for many years performed the role of investment promotion long before its formal re-branding in 2009, to a full-fledged Investment Promotion Agency for this picturesque 238 square mile island. Over the years, ISL has attracted and secured significant investments across various sectors. Through its dynamic and committed team, ISL has been able to influence those relationships, coupled with an open investment regime to realise noteworthy expansions.

ISL, through its investment promotion and facilitation mandate will over the next 12 to 24 months work in tandem with the government to realise the growth strategy geared towards building a resilient Saint Lucia. Tourism continues to be the island’s leading economic driver. Consequently, several projects are expected to commence shortly, including redevelopment of the capital city Castries, which consists of major infrastructural upgrades to the cruise and cargo ports. Renowned as a cruise destination, Saint Lucia now boasts of the capability to berth Quantum class vessels, a feat that will add to the island’s allure as a world leading tourism destination. Additionally, the island’s international airport in the south will undergo major redevelopment, all part of a transformative integrated project which is expected to open the island to immense possibilities with increasing airlift and marina/cruise goers. Consequently, ISL’s energies will be dedicated to ensuring outcomes for the development of critical linchpin projects.

HM: Can you outline the key areas for investment you offer? 

PF: Having garnered international exposure over the years with established and renowned international brands and numerous awards across the tourism and manufacturing sectors, Saint Lucia is focused on securing investments from new and existing investors in the areas of Smart Manufacturing such as agro- processing and smart technology manufacturing, and Tourism which can include health & wellness facilities, specialty restaurants,  shopping/elite merchandising, and eco lodges, all necessary to augment the island’s appeal.

Additionally, Infrastructural development has been identified as key to improving the trajectory of this small island economy through the development of alternative energy, technology and vocational training institutions, as well as roads, bridges and highways. With the island’s recent introduction of the first outsourcing company in the Caribbean to use Artificial Intelligence at the core of its operations, Saint Lucia is excited by the burgeoning possibilities.

HM: What services can you assist the international investor with?

PF: Invest Saint Lucia’s dedicated team of qualified professionals with proven international experience, offers comprehensive knowledge of the processes to set up a business; a keen understanding of investor needs; facilitation and professional guidance in helping investors and existing businesses navigate the official approvals process; and a full understanding of the available incentives and resources to foster growth and to expand business.  The ISL team is complemented by technical service officers who are well placed to assist potential investors explore Invest Saint Lucia’s over 2500 acres of strategic lands, which are available for targeted sustainable investment projects.

ISL owns and manages seven (7) industrial estates, which contain several factory shells ranging in size from 4000 to 32,000 square feet and strategically placed throughout the island’s economic hubs. This endowment serves as a critical element of the facilitation process, which makes business set-up a bit easier, as these shells are available for lease at attractive rental rates.

See full article at http://ceo-insight.com/fdi/tides-of-change-2/