The Aid Bank’s Diaspora Investment forum held on Friday February 28th saw dialogue between Dominicans who live overseas and the local investment authorities with the Aid Bank as the financial partner.
Dominica’s Minister for Employment, Trade, Industry and Diaspora Affairs, Hon. Dr. John Colin McIntyre delivered one of the featured addresses at that event.
In his presentation, Dr. McIntyre made reference to a previously held formal meeting between the Labour Party Government and members of the Dominican Diaspora.
The Minister considered that forum very productive.
“I recall the convening of a development forum in 2008 when we celebrated our 30th Anniversary of Independence under the theme, ‘Celebrating the Journey Together.’ That forum gave us the opportunity to critically examine the constraints to development in our home land and among other things, generated some useful ideas for improving the investment climate in Dominica. Some of these ideas subsequently helped to shape relevant policy and I have every reason to believe that they have contributed to improving the environment to doing business in Dominica.”
Now, some time later, Hon. McIntyre says AID Bank’s event seamlessly complements Government’s efforts to get the Dominican Diaspora more involved in national development.
“This initiative of the bank complements the efforts of Government to lead the change in investment and investing in promising growth sectors of the economy. The Governments construction of a sixty-eight room hotel in the Cabrits with assistance from the Kingdom of Morocco is the most recent effort of Government in its thrust to stimulate growth in the local economy.”
In addition to several initiatives by Government to make investing in Dominica easier, Hon. McIntyre also listed financial investment packages available to investors.
The Trade Minister says, in some cases up to twenty years of tax waiver is offered to potential investors. Hon. McIntyre insists that despite naysayers, Government will continue to offer that incentive to boost the local economy.
Still on the subject of Dominicans investing in Dominica, the Employment Minister made note of a plan to construct a new hotel in the Kalinago Territory.
“Government is also currently providing support to a national who was resident overseas in the construction of a hotel in the Carib Territory. The hotel will reflect the heritage and culture of our indigenous people. Work has commenced on this enterprise which will not only provide employment to the residents of the Territory but will also be a purchaser of agricultural commodities produced by farmers of that area.”
Hon. McIntyre told the forum titled, “Help Here from There” that the timing is right for local investment.