NDC initiates discussions with business sector to establish novel strategies to attract foreign investors

Monday, March 29, 2010 – The National Development Corporation (NDC) is continuing to execute its mandate to promote and encourage inward investment on the island.

In this regard NDC is collaborating with Office of Private Sector Relations (OPSR) in hosting a one day seminar today Tuesday March 30, where the Corporation will lead discussions and debate on encouraging the local private sector to incorporate new non-traditional investment attractions into their business strategies.

The seminar was organised due to the emergence of factors like “regime competition”.

A press release from the NDC emphasizes that “no longer can Saint Lucia simply offer incentive packages along with the promotion of a good business environment as the main pull factors to attract foreign direct investment to its shores.”

Instead, officials say the new impetus lies with getting the local business sector to appreciate the new market dynamics of using preferential trade agreements as incentives—to potential business partners and investors—for doing business in Saint Lucia.

The seminar takes place at he Bay Garden hotel and is scheduled to commence at 8:30AM.

The theme for the one-day seminar is “Exploring Opportunities for Investment Generation With St. Lucia’s Key Trading Partners”.

General Manager of the NDC Mr Timothy Green and other officials from the NDC, and the Office of Private Sector Relations, will issue comments at the opening of the seminar.

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