Public Procurement aims to ensure the application of fair, competitive, transparent, value-for-money standards and practices for the procurement and disposal of public assets in the public sector procurement system. The new Public Procurement legislation seeks to reduce the level of distrust in the system, reduce corruption, increase transparency, equality and accountability of government procurement.
Much has been said of the potential of the youth, the future generation, their innovative, inventive, and creative nature. The Government of Saint Lucia has placed great emphasis on harnessing this potential by placing the portfolio of the Youth Economy under the direct supervision of the Prime Minister of Saint Lucia.
The Youth economy is viewed as a catalyst for economic growth and national development and is expected to turn the ideas, dreams and hobbies of the youth into viable, sustainable, business opportunities.
Buying, supporting, investing in local products and services will keep our monies circulating within our local economy and create greater opportunities for livelihoods and businesses to thrive. But what are the hindrances to and or opportunities in fully embracing the Love Saint Lucia Campaign? At its core, this campaign is geared at improving the economic growth of Saint Lucia at all levels in society.
Covid-19 has dealt a devastating blow to both the health and economic well-being of Saint Lucia, the region, and the rest of the world. This has called to mind the importance health and wellness plays in sustaining national development and economic growth.
The Ministry of Agriculture coordinated a discussion on “How should agriculture be re-positioned to fill more space in Saint Lucia’s economic basket?” The main components highlighted are food and nutrition security, diversification, trade and export, access to finance, land and a skilled labour force.
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The circular economy has great potential for boosting Saint Lucia’s economic growth and national development through the creation of sustainable jobs and innovative business ventures.
Converting trash to cash is a discussion that must translate to action to benefit individuals, communities, and the nation as a whole. It takes into consideration the land, people and the environment.
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In Saint Lucia, the average small business owner particularly young entrepreneurs do not own land and building. This, therefore, makes it increasingly problematic for business owners to qualify for loans from financial institutions, which has been a major challenge within the MSME sector. The Security Interest in Movable Assets legislation seeks to offer a solution to the lack of access to credit faced by the business sector.
The Secured Transactions reform project was conceptualized in order to create the enabling environment to increase credit for MSMEs. This new framework will allow the use of movable assets by firms to access financing to start new businesses or expand on their existing operations. The legislation will enable both borrowers and lenders to recognize movable assets as collateral thereby supporting credit financing with movable assets.
Read MoreCOVID-19 continues to pressure our health system, our economy, our productivity. But, it has caused us to be more resilient and innovative. Productivity Awareness Week 2021, will focus on our resilience in healthcare and agriculture, opportunities in the circular and youth economy, innovation in our communications environment, and our local economy. We will also focus on increased access to finance, new procurement legislation, launch a new productivity tool and discuss solutions to close the digital divide. Join the discussions during Productivity Awareness Week, October 11 -15, under the theme “Saint Lucia – Resilient, Innovative, Productive.” Follow us Live on our Facebook and youtube pages at Stluciancpc. The National Competitiveness and Productivity Council, Embracing Excellence.
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“Propelling business development through technology,” is the theme for the 14th Annual Saint Lucia-Taiwan Partnership Trade Show scheduled for November 26-27, 2021. Minister for Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs, Hon. Emma Hippolyte alongside her team for the Commerce Ministry met with Taiwanese Ambassador H.E. Peter Chen and his delegation to advance planning efforts for this year’s Trade Show. The Trade Show aims to heighten awareness of ICT business solutions while showcasing unique products and services of Taiwanese and Saint Lucian Micro, Small and Medium Enterprises (MSMEs) to a local and international audience. Ambassador Chen explained Taiwan’s partnership in the Trade Show.
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Minister of State for Business, Energy, and Clean Growth from the United Kingdom, Hon. Ann Marie Trevelyan visited Saint Lucia to witness first-hand some of the adaptation projects funded by the UK Government. One of the key projects she visited was the Millennium Highway and West Coast Road Reconstruction Project.
“So I am really looking forward to seeing for myself exactly where this road will go and to understand just how important it’s going to be for so many of Saint Lucia’s residents but also off course for tourists as they come to visit your wonderful island.”
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