Saint Lucia’s Inland Revenue Department (IRD) and CARICOM, in association with the Organisation for Economic Co-operation and Development (OECD) and the World Bank Group, conducted a four-day regional workshop on ‘Foundational Transfer Pricing.’ The training workshop brought together Technical Tax Administration and Ministry of Finance officials from the Caribbean to learn the underlying transfer pricing principles and discuss potential legislative and administrative considerations to address transfer pricing.
Read MoreThe Caribbean Digital Transformation Project held the Official Digital Device Hand-over Ceremony on Friday 26th May 2023 at the Finance Administrative Centre in Pointe Seraphine. The ceremony saw the symbolic presentation of 4,860 digital devices inclusive of 450 laptops for Public Officers graded 15 and above, 2,210 tablets for primary schools, and 2200 laptops for secondary schools.
Covid-19 has created what has aptly been described as the “new normal” causing a blended approach to be adopted by all sectors in society. This has caused the rapid penetration and dependence on ICT for communication, business activity, education, and the list goes on.
This rapid dependence on ICT has undoubtedly widened the digital divide particularly for small island developing states like Saint Lucia with many not having access to technology or appropriate technology to seamlessly navigate this new normal.
Reducing the digital divide is projected as one sure way of increasing Saint Lucia’s competitiveness and sustaining economic development.
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Communication has a vital role to play in fueling economic growth. A well-coordinated strategized and funded national information communication roadmap for Saint Lucia is vital to the economic health of the country.
Read MorePublic 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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