Cover Page Mexico Mission 10 November 2015 By: Earland Labadie, - - PowerPoint PPT Presentation

Cover Page

Mexico Mission

10 November 2015

By: Earland Labadie, Senior Investment Services Officer

SAINT LUCIA - Location

• Southern Caribbean
• 21 Miles South of

Martinique

• 26 Miles North of

Saint Vincent

• 110 Miles North West
• f Barbados

Travel Times UK and other Europe – 8 Hours North America – Average 4 Hours

SAINT LUCIA – Quick Facts

Capital Castries A rea 238 sq miles/ 616.4 sq km Official Language English Local Language French Creole GDP US $917.48 Million (2014) GDP Per Capita US $6,847.6 (2014) Labour Force 98,286 (2014) 57% Unemploy ment 24.4% (2014) A dult Literacy 72.8% (2010 Census) Population 172,623 (2014) Exchange Rate US $1 = EC $2.70 Currency Eastern Caribbean Dollar (EC$) Temperature Mean Temperature 28o C Time Zone EST +1, GMT -4

SAINT LUCIA Economic Performance

ECONOMIC GROWTH INFLATION RATES GDP PER CAPITA (US$) TRADE BALANCE

Sources: ECCB, Saint Lucia Central Statistics Office, Economic Review

R-Revised/P-Projections

0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 2010 2011 2012 2013 2014 6200 6300 6400 6500 6600 6700 6800 6900

• 3
• 2
• 1

1 2 3 GDP Growth

• 2000
• 1500
• 1000
• 500

500 1000 1500 2000 2500 2010 2011 2012 2013 2014 Exports Imports Trade Balance

SAINT LUCIA – FDI Flows 1976 - 2014

50 100 150 200 250 300

FDI I INFLOW IN US$ MILLION

FDI INFLOWS 1976 -2014

SAINT LUCIA Why Invest?

• 1. Strategic location and easy access.
• 2. Stable and Pro-business Environment (No. 1 in the English Speaking

Caribbean in the World Bank’s Doing Business Reports 2007-2014). Ranked Number one in the Caribbean (Doing Business Report 2014) for:

• Number of procedures for starting a business.
• Obtaining approval for construction permits.
• Time taken to register a property.
• Ease of paying taxes.
• 3. Ranked the freest economy in the Caribbean; 35th freest economy in

the world out of 186 countries by the 2015 Index of Economic Freedom.

• 4. Stable political climate.
• 5. Stable monetary and financial system, as a leading member of the

Eastern Caribbean Currency Union.

SAINT LUCIA Why Invest? (Cont’d)

• 6. Regional and international market access (CSME, WTO, EPA).
• 7. Modern and efficient telecommunications system.
• 8. Modern air and sea port facilities including operational free

zones.

• 9. Reliable electricity supply and stable supply of water.

10.Freedom to repatriate profits and no foreign exchange controls. 11.Strong history of attracting and protecting international investments. 12.Ongoing policy reforms designed to facilitate investment and encourage business growth (new investment policy, ongoing incentives reform, ongoing e-government reform).

Source: Economic and Social Review, Saint Lucia Tourist Board(SLTB), World Travel and Tourism Council (WTTC)

SAINT LUCIA -

Tourism proposition

• Contribution to GDP

(6.5% in 1970s to 13.8% in 2014)

• Increased overall

arrivals (from145, 700 in 1978 to a peak of 1,034,332 in 2014).

• Expenditure from

$US 27.7 Million in 1978 to a peak of $US 2,015.30 Billion in 2014

• UNESCO World

Heritage Status for Piton Management Area

• Heritage Tourism

Growth

• World Renowned

Jazz Festival

• Atlantic Rally for

Cruisers

• Cultural Heritage
• Strong international

brand presence

• Events
• Development of

North Western Corridor

• Award winning

Resorts

• World Class

Restaurants

PLANT MARKETING GROWTH AND IMPACT ON ECONOMY ENVIRONMENT

SAINT LUCIA

Shovel Ready Projects Tourism

Jade Sea Vieux Fort Marina Development

• Click to add text

JADE SEA

Nick Troubetzkoy, architect and owner of renowned Jade Mountain and Anse Chastanet St. Lucia Resorts, presents JADE SEA.

The two properties have received numerous awards and accolades including: Jade Mountain St. Lucia - 2013 and 2014 Top Hotel in the Caribbean (Travel and Leisure Magazine); 2014 Best resort in the Caribbean (Conde Nast Traveler); Anse Chastanet St. Lucia - listed at 17 of 50 in 2014 Best resorts in the Caribbean (Conde Nast Traveler).

JADE SEA

• Project concept

– 48 stunning open-air sanctuaries;

• Location

– Overlooking Petit and Gros Piton in Soufriere - a UNESCO World Heritage Site;

• Cost

– USD $74 million over 4 phases.

VIEUX FORT MARINA DEVELOPMENT

• Project proposal is for a medium sized yacht

marina in the town of Vieux Fort on a 21 acre site (including land to be reclaimed);

• Hotel and retail development;
• Potential also exists on the identified and

adjacent land for additional facilities:

• A Conference Centre;
• An Exhibition Park;
• Residential Housing;
• Boatyard;
• Marine Related Industrial and Commercial

Development;

VIEUX FORT MARINA DEVELOPMENT

Total Project Cost USD $150 Million:

• USD $20 million for the construction of the

basic marina docks and breakwaters

• USD $40 million for the fully equipped

yacht refit facility

• USD $10 million for shore side retail and

condominium development

• USD $10 million for site and infrastructure

works including Wetlands Park

• USD $70 million for the hotel

The hotel does not have to be developed up front and can be developed subsequently upon completion of the marina.

VIEUX FORT MARINA DEVELOPMENT

VIEUX FORT MARINA DEVELOPMENT

SAINT LUCIA Tourism Incentives

ACT INCOME TAX IMPORT DUTIES OTHER EXEMPTIONS

Tourism Incentives Act Exemption for up to 15 years. Exemption on building materials, articles and equipment LLC entitled to distribute profits as capital free of tax 2 years after end of tax holiday. Tourism Stimulus and Investment Act

• Exemption for up to

25 years.

• Exemption for

interest received during development.

• Exemption on imports including

fixtures and fittings.

• Exemption on alternative

energy and energy saving equipment.

• VAT on building materials and locally produced

art and craft.

• Corporate tax during development phase
• Property tax and Alien Landholding License fee

during development.

• Exemption of stamp duty and vendors tax on

transfer or sale of immovable property on initial transfer.

• Percentage tax credit for financial institutions

based on the quantum of investment. Special Development Areas Act (Heritage and development inducing tourism products) Exemption for interest received during development. Exemption on inputs of construction of new building or renovation or refurbishment of existing.

• Stamp Duty on construction inputs & initial

purchase of property.

• land and house tax
• Alien Landholding License fee

Invest in SAINT LUCIA

Thank you

INVESTMENT NEVER LOOKED BETTER