NDP promises duty-free concessions for local entrepreneurs if elected to govern
The opposition New Democratic Party (NDP) has highlighted the importance of making information readily available to local entrepreneurs, and granting the opportunities to enjoy duty-free concessions just as how foreign investors are granted hefty concessions as an important attraction to investment.
The NDP’s public relations officer, Lavern King spoke on the matter as she delivered remarks at a rally at Sion Hill to mark the re-opening of the party’s East Kingstown constituency office last Saturday night. She was at the time informing the public of her party’s plans to create a ministry to deal specifically with private sector matters, private sector investment being a major focus of the NDP’s campaign for the upcoming general elections.
According to King, under an NDP administration, the information on opportunities for local entrepreneurs will be available through a concession and business investment desk to be established in the proposed private sector ministry.
“So, when we establish this desk, you will have a clear path into knowing how you will get your access to concessions. By consolidating the process under one roof, the ministry seeks to ensure a swift and transparent turnaround on applications, strictly adhering to existing laws and policy guidelines.
“This will not only enhance efficiency, but it will also build investor confidence by guaranteeing predictable and fair treatment for all applications. And I tell you this, if foreigners can come here and get 15 years of duty-free for 200 and 300 jobs, then local businesses must can get two and three years duty-free for providing 10 and 20 jobs. St. Vincent must give benefits to Vincentians as well,” King told the political rally.
King said a business startup and innovation hub will be setup in the ministry to nurture new businesses, a unit that will offer comprehensive technical assistance to aspiring entrepreneurs.
This country’s investment promotions agency, Invest SVG, which is currently under the Ministry of Finance, Economic Planning, Sustainable Development and Information Technology, will be placed under the supervision of the Ministry of the Private Sector, according to King.
Invest SVG is the gateway which connects the world to St. Vincent and the Grenadines; enabling local and foreign investors alike the opportunity to invest in all the economic sectors within the country.
“Through Invest SVG, this team will lead targeted marketing campaigns, facilitate investor relations, and coordinate with other government agencies to showcase SVG’s unique advantages. Under an NDP government, we will also focus heavily on attracting and facilitating investments by Vincentian nationals abroad to bring them back into St. Vincent and the Grenadines. One of the things that we must acknowledge is that a Vincy abroad is still a Vincy, and St. Vincent and the Grenadines must work for them too,” King said.
According to King, the proposed private sector ministry “will help local businesses compete for contracts.”
“For government contracts and tenders, local businesses should have the best chance to put together a bid and submit a tender for the work. This is why we will break up contracts where feasible so that Vincy businesses can have the chance to compete for the work because St. Vincent and the Grenadines must work for Vincentian people.
And finally, under this ministry, we will establish the quick pay policy. The reality is that the government must be a model citizen. We cannot have it where the government is going around and trusting things (purchasing through credit) from people and not paying.
“So the ministry of the private sector will introduce a quick pay policy, which means that if we give you a small contract within 28 days, we will ensure that you are paid for the work that you have done,” King said.
King appealed to the young people to go to the polls and vote her party into office so they will be able to enjoy the “good things coming.”
“Young people who are interested in entrepreneurship, now is your time to go out to the polls. Do not stay at home.
“When the day comes, ensure that you cast your ballot because it is only the votes in the box that makes a difference,” King urged.
