Invest Saint Lucia TARGETS US $1.5 BILLION IN INVESTMENTS

In 2015, Invest Saint Lucia recorded US $171million worth of investments, out of which US $127 was attributed to foreign direct investment (FDI), and US $ 44 to local or domestic capital expenditure. This level of investment resulted in 2939 transient jobs and 577 permanent jobs, 277 of which were based in the tourism sector; 183 in infrastructure and 117 accommodated within the private commercial sector.

Speaking during its first press conference for the year, CEO McHale Andrew outlined the 2016 target emanating from the 5 year strategic plan; “ISL has targeted investment flows of US $331 million and 2,200 jobs for 2016. Among new investments expected this year are a chicken processing facility, a pasta and ramen processing facility, a flour mill, an insulated concrete form factory, a dining and entertainment centre, two 4-star developments, a 5-star hotel development and another investment that straddles both the tourism and infrastructure sectors.”

Several developments which begun last year are also due for completion during the course of 2016. Some of these ongoing projects include the Six Senses Residences at Freedom Bay and a hotel project being undertaken in the Anse La Raye/Canaries area by The Boka Group.

In keeping with its overall goals, ISL has projected a flow of US $1.5 billion in investment projects and a resultant 8000 jobs in Saint Lucia by the year 2020.