- October 13, 2020
- |News & Articles
Greetings and a warm welcome to the first edition of The St. Kitts Investment Insider, the quarterly newsletter of the St. Kitts Investment Promotion Agency (SKIPA).
We are delighted that you have taken the time to peruse the contents of the St. Kitts Investment Insider. The St. Kitts Investment Insider newsletter is designed to keep you up-to-date with everything you need to know about the investment climate in St. Kitts. We are launching our newsletter at a time when the global investment markets are impacted by the global pandemic, which has changed the way we do business. Despite the challenges of the global pandemic as it relates to investment opportunities and Foreign Direct Investment (FDI), we remain resilient and committed to emerge from the pandemic with our economy even stronger than before.
Through this global pandemic, we remain open for business and look forward to heightened economic activities with the opening of the country’s borders to international travel on October 31, 2020. The Government of St. Kitts and Nevis has been very successful in its handling of the COVID-19 situation, which realized minimal confirmed coronavirus cases. Additionally, the Government moved swiftly to provide the citizens and residents, impacted by the economic fallout of the pandemic, with comprehensive support via its EC$120 million dollar economic stimulus package. St. Kitts is well-positioned to withstand the negative economic fallout of the COVID-19 pandemic, due in large part to revenue inflows generated from the Country’s Citizenship by Investment Programme and is expected to experience economic growth post COVID-19.
The St. Kitts Investment Promotion Agency (SKIPA) is expected to play a key role in the country’s economic recovery and future growth post COVID-19. To this end, SKIPA is focusing its attention on the promotion of investment opportunities in sectors such as; Business Processing and Outsourcing (BPO), Information and Communication Technology (ICT’s) and technology driven agriculture systems. SKIPA intends to create an integrative approach in its investment promotion strategy in order to foster more sustainable and resilient investment ecosystems. In response to the potential negative impact on investment flows caused by the global pandemic, SKIPA has already taken action by implementing a robust online marketing and branding campaign. Our knowledgeable and competent staff are committed to working with investors to get their business establish smoothly, providing aftercare services and lobbying for policy changes aimed at enhancing the investment climate.
“in excess of US$100 million dollars in new projects “
St. Kitts experienced consistent growth in inflows of Foreign Direct Investment (FDI) in the periods prior to COVID-19, spurred by the Citizenship by Investment Programme. Notwithstanding the economic fallout of COVID-19, the prospect for continued growth in Foreign Direct Investment (FDI) remains optimistic, post the global pandemic. The strong growth in the inflows of FDI is dominated by investment in high-end real estate; condominiums, villas and hotels. Currently, there are in excess of US$100 million dollars in new projects in the investment pipeline that are expected to become operational in the near-term.
We hope that you will find The St. Kitts Investment Insider as a useful resource for information relating to investing and establishing your next business in St. Kitts.