Goods Distribution Free Zone Opens Its Doors

Contact: Rose Marie Harris

Tuesday, May 23, 2000 – Saint Lucia’s first ever Goods Distribution Free Zone opens its doors later this week. The Zone located in the town of Vieux Fort comprises one administrative building and eleven commercial buildings with integrated office facilities.

Elizabeth Charles Soomer, General Manager of the National Development Corporation, the developers of the Free Zone, says persons intending to conduct business at the Goods Distribution Free Zone can expect a number of incentives. There will be tax-free holidays up to five years, a twenty-year tax holiday on dividends; no import duties, no quotas and no pricing regulations are just some of the incentives available. "Additionally there will be no foreign exchange controls. To some extent there will be some controls regarding the labour in terms of employment but generally a very free, liberal environment from the usual trade imposed levees as well as customs duties," Charles-Soomer said.

The Goods Distribution Free Zone is designed for trading companies that can distribute products from the United States, Europe and Asia to the neighboring islands of the Eastern Caribbean such as Grenada, St. Vincent, Barbados, Martinique, Guadeloupe, Dominica and Guyana.

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Goods Distribution Free Zone Opens Its Doors Friday

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