Economy Starts Benefitting from Free Zone

Contact: John Emmanuel

Friday, October 26, 2001 – The economy of Saint Lucia is starting to reap significant benefits from the Vieux Fort  free zone , developed by government as part of its economic diversification thrust aimed at opening up new revenue-generating activities.

According to Chief Executive Officer of the Free Zone Management Authority Paul Hilaire, the facility so far has attracted eight companies, created about 40 new jobs, and had moved about $3 million worth of goods which were redistributed to markets within the Organisation of Eastern Caribbean States (OECS), in the process boosting activity at the Port of Vieux Fort.

The free zone seeks to cater to large importers who will use the facility as a distribution point for re-exports to neighbouring countries.Built with Chinese assistance, the facility is in its first year of operation and, based on the encouraging initial results, is poised for a bright future of continued growth.

Hilaire said management of the free zone was particularly careful in selecting companies for rental of warehousing space because they wanted to ensure that the operations of these companies supported the objectives of the free zone.

“We (are) not encouraging companies that are simply interested in building warehouse facilities because that would not accomplish what we were trying do. What we wanted was to create a hub for  the re-distribution of goods throughout the OECS,” he said.

Hilaire added: “When the free zone is fully commissioned, what we are hoping to achieve is to have a large volume of throughput cargo going through the air and sea ports, mainly in the southern part of the island.”

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