Invest Saint Lucia s Quarterly Newsletter Issue 8 December 2017

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1 Invest Saint Lucia s Quarterly Newsletter Issue 8 December 2017 IN THIS ISSUE As the official agency responsible for investment generation, promotion and facilitation, Invest Saint Lucia is constantly seeking ways to improve upon the entrepreneurship landscape on Saint Lucia. The Agency s latest initiative in this regard is geared towards encouraging the growth of micro and small businesses, by exploring the demand for shared incubator space. Recognising the importance of micro and small businesses to job creation and overall economic development, ISL is considering the use of one of its factory shells for this purpose and has met with relevant stakeholders to discuss this idea. While the project initially targeted the manufacturing sector, ISL soon realized that there is utility in extending this to all other sectors, particularly those untraditional areas being managed by mainly young entrepreneurs who are looking for more cost-effective ways to operate their businesses. In an effort to conduct the related market research to ascertain the precise needs of micro and small enterprises, ISL has launched a public survey, the results from which will help determine the extent of the project. Interested persons/companies can click here to learn more MSEs to Benefit from Business Incubator Space Investment Updates Quantum Cruise Vessels coming to DFPS More Successes Recorded for Business Month 2017 ISL Donates to Dominica s Hurricane Relief Efforts Investment Outlook 2018 The first Artificial Intelligence (AI) Contact Center to be established in the Caribbean, officially opened in November 2017 with about 40 agents, but the Company plans to hire up to 300 over the next three (3) years. Ojo Labs is housed in the Hewanorra Freezone within one of ISL s factory shells, retrofitted to specifically accommodate the agents in a state-of-the-art facility.

2 Invest Saint Lucia s Newsletter Issue 8 December 2017 INAUGURAL ARRIVAL OF QUANTUM CLASS VESSEL SLATED FOR JANUARY On January 13 th 2018, the island will welcome Anthem of the Seas - its first Quantum-class vessel - to the newly expanded Breasting Dolphin Berth at the Duty Free Pointe Seraphine Cruise Terminal. Construction of the US $15m expansion began at the close of the 2017 cruise season in April, remained on schedule, and was completed by December 10 th. As a result, the port will now be capable of simultaneously accommodating two Quantum-Class vessels. The Harbor Club officially opened its doors in December The hotel features 115 rooms with a variety of facilities including a spa, swimming pool, fitness centre, two restaurants, bakery and 4,000 square feet of event and meeting space. To date, Saint Lucia has recorded a 19.4 percent increase in cruise passenger arrivals, and this growth is expected to be bolstered by the inflow of Quantum-Class vessels. During the season, the island will welcome its highest ever number of cruise passengers with a projected arrival of over 800,000. MORE RESORT OPTIONS FOR VISITORS The Royalton Saint Lucia Resort and Spa officially opened in February 2017 and features 453 rooms, eight restaurants, six bars, a world class spa, onsite splash park, conference space and an exclusive 94-suite, adults-only hotel within the resort called Hideaway. The Resort was developed after the acquisition of the Smugglers Cove Resort & Spa by Blue Diamond Resorts. Total estimated employment now stands at

3 Invest Saint Lucia s Newsletter Issue 8 December 2017 EXPANSIONS EXPANSIONS EXPANSIONS BRICE & COMPANY REDOUBLES CAPACITY COCONUT OIL DISTRIBUTION SET TO INCREASE As part of its continuous facilitation efforts, ISL supported TA s Distribution & Trading, a locally owned business specializing in the distribution of Mags refined coconut oil made from locally produced copra. ISL assisted through the renovation and lease of a 10,000 square feet factory shell located in the Vieux Fort Industrial Estate. This larger facility will enable TA s Distribution to consolidate its services and increase its distribution of the product island-wide. Brice and Company Ltd., renowned for its roofing, fencing, steel fabrication and guttering, among other products, recently expanded its operations with the acquisition of a 9,800 square feet factory shell located in the Vieux Fort Industrial Freezone. This is the second such facility acquired by the Company, which first began operations in The wholly-owned local company has benefitted from its relationship with Invest Saint Lucia, which has facilitated the business in its expansion plans from the onset. Brice and Company Ltd. has contributed immensely to the socio-economic development of the island, particularly to the manufacturing and construction industries. The Company currently employs close to 100 Saint Lucians. LOCAL PASTA COMPANY MOVES TO MORE SPACIOUS FACILITIES The former Carib Pasta facility in Union is now home to Alwin Investment Inc. a Saint Lucian pasta manufacturer. Invest Saint Lucia facilitated the Company s move from its Bisee operations to the 7000 square feet factory shell in Union. Alwin Investment Inc. made a major investment not only with the purchase of the shell, but also in modern, cost-efficient equipment. DIGICEL INITIATES THRUST FOR HQO Among Invest Saint Lucia s investment promotion strategies is its push for foreign-based companies to establish headquarter operations on the island. Digicel St. Lucia recently took the lead when it launched a new Hub office in Saint Lucia as a part of its global transformation programme. The telecommunications company, which has been in Saint Lucia for close to 15 years, supports eighteen markets out of its new Hub. According to Country Manager, Siobhan James- Alexander, the decision to establish its Headquarters on island was an easy one, given Saint Lucia s favourable investment climate. Saint Lucia s investment environment is one that is very stable in terms of the political and economic climate and we ve been the beneficiary of that. If you re coming in as an investor, world class support technology is actually there and it is very much accessible, and it will make you just as successful as we have been for the last 14 years. ISL is of the view that other companies will follow this trend and choose Saint Lucia to establish Headquarter operations, particularly in light of the recent legislative changes that empower companies like Digicel to set up their headquarters here

4 INVESTMENT OUTLOOK 2018 In the year ahead, ISL anticipates that several other investors both local and foreign from various sectors will have made significant progress, moving from the concept stage to operations as soon as the requisite approvals and licenses are issued. DSH UPDATE Desert Star Holdings began exploratory work for construction of a race course in Vieux Fort in Invest Saint Lucia continues to provide support to DSH, liaising with various agencies to ensure all the necessary elements are in place for the advancement of the project. FAIRMONT HOTEL & RESORTS COMING TO THE SOUTH A RITZ CARLTON RESORT FOR BLACK BAY, VIEUX-FORT Range Developments is expected to deliver on a Ritz Carlton Hotel with 180 rooms on 40 acres (1st phase) of a 165-acre property. The hotel will include 4 dining options, a holistic spa and 5 meeting and function areas. Also an approved CIP project, the Company has projected at least 500 staff will be employed during the construction phase, scheduled to begin within the first quarter of An estimated 350 staff will be employed when the Resort begins its official operations. Range Developments is responsible for the development of the recently opened Park Hyatt in St. Kitts and the Kempinski Resort in Dominica AMResorts PLANNING ITS 2020 ENTRY The Apple Leisure Group (ALG) recently announced that it will be bringing two of its luxury, all-inclusive resort brands to Saint Lucia in In July 2017, the GP Group broke ground on its proposed 4-5 star, 120-room and 40-villa hotel development on the Sab Wisha Beach, under the Fairmount Hotel & Resort brand. The project has been approved under the Citizenship by Investment Programme (CIP). Construction of the proposed Resort, which sits on approximately fifteen (15) acres of beachfront property, is expected to begin in 2018 pending the receipt of approvals currently lodged with the relevant agencies and ministries. An estimated 330 people will be employed and a further 580 on a permanent basis. The GP Group has given a commitment to the Government as it relates to the completion of various community enhancement projects in and around the Village of Choiseul where the Resort will be based Canelles, Micoud, is the proposed site for the Resort which will comprise residences, condominiums and two hotels managed and branded by AMResorts (ALG). More on this in subsequent editions LOCAL COMPANY TO CREATE MORE JOBS ISL continues to facilitate Chefs Choice, a locally owned manufacturing company which will soon establish an automated pasta manufacturing facility at Vide Bouteille, Castries. The company is expected to officially commence operations with about twenty-five (25) employees in

5 Invest Saint Lucia s Newsletter Issue 2 June 2016 MORE ENTERTAINMENT OPTIONS FOR RODNEY BAY Pure Vibe Entertainment is currently putting the finishing touches on its Ultra Lounge, which will be a sound-proofed, ultra-contemporarydesigned entertainment venue offering specialty food and drink. The management of the island s first in-door/outdoor entertainment club promises patrons valet parking and unsurpassed customer service guaranteed to keep them coming back. Ultra Lounge will be located on the Rodney Bay strip. An estimated eighteen (18) full-time and 7 part-time staff are expected to be employed when the venue opens in the first quarter of THE DOMINICA INVEST AUTHORITY SAYS THANK-YOU TO ISL In the aftermath of the destruction caused to Dominica by Hurricane Maria, Invest Saint Lucia reached out to its counterpart Investment Promotion Agency (IPA) - Invest Dominica Authority - to provide some relief to residents through the supply of non-perishable goods including hygiene products, inflatable water tanks and water. ISL collaborated closely with food and water distributors locally to fill a 40-foot container bound for the Nature Isle. The items in the container showed that serious thoughts and consideration went into purchasing items that were needed by our citizens. The items not only benefitted the staff of IDA and DDA, but also key persons and institutions, such as Dominica Water and Sewage Company, Hospital, Home for senior citizens, and schools. Hurricane Maria caused tremendous damage to lives and livelihood, but with friends such as Invest Saint Lucia we are getting back to rebuilding our lives and properties. Kindly relay our deepest and warmest thanks to your Board of Directors, CEO, management and staff for thinking about Dominica in its time of need. Such a gesture, will not go unnoticed. Yours sincerely, Rhoda Joseph Executive Director Invest Dominica Authority --- BUSINESS MONTH RECORDS ANOTHER SUCCESSFUL PRODUCTION The third annual Business Month organised by the Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs, in collaboration with sister agencies like ISL, was deemed yet another success. The programme of activities which was held throughout the month of November, included finance seminars; a digital marketing symposium; workshops and panel discussions. School and Hospital deliveries in Dominica Invest Dominica Authority s Executive Director expressed the Agency s appreciation to ISL in the letter below: On behalf of our Minister, Honourable Dr. Collin McIntyre, management and staff of IDA and DDA, we would like to express our sincerest gratitude for the container sent by Invest Saint Lucia, which contained all the essential relief supplies. QuickBooks Seminar

6 Invest Saint Lucia s Newsletter Issue 8 December 2017 According to the Chairman of the Organizing Committee, Business Development Officer, Jonathan Allain, Business Month 2017 was by far the most successful it has been since its observance began three years ago. At a post-mortem discussion with the core committee, Allain explained that this year saw a greater level of participation from youth-oriented organisations such as the National Youth Council (NYC), the Youth Business Trust (SLYBT) and the Commonwealth Youth Peace Ambassadors Network (CYPAN). Global Entrepreneurship Week (GEW) activities coincided with the month-long programme, and focused primarily on local young entrepreneurs. Center to sample and purchase the products on display. Allain indicated that the Committee plans to begin its promotion of the Event at least two months prior, to ensure even greater participation in DFPS WELCOMES NOBEL TREE CAFÉ Ministries such as the Public Service and Agriculture, the Small Business Association (SLISBA), the Saint Lucia Coalition of Services Industry (SLCSI), the St. Lucia Bureau of Standards (SLBS) and the Trade Export Promotion Agency (TEPA) all came on board as they have in the past. Their respective activities, he explained, were central to enhancing their members business acumen as well as soft skills like effective communication and presentation skills; financial aptitude and marketing. Staff at Nobel Tree Café Shoppers and visitors to Duty Free Pointe Seraphine (DFPS) now have an additional option when it comes to lounging at a coffee bar. Indoor/outdoor space at the Nobel Tree Café Official opening of the 10 th annual Saint Lucia Taiwan Tradeshow We welcomed our newest participant the Southern Business Association which held its official launch during the Month. The highlight of Business Month, however, was the annual Saint Lucia Taiwan Trade Show, now in its tenth year. This year s edition recorded an increase in participation from local entrepreneurs, and as usual, did not disappoint the hundreds who flocked the Johnson s In late December, DFPS welcomed the opening of the Nobel Tree Café. This locally-owned establishment specializes in brewed and frozen coffees made from locally-grown coffee beans. The chocolates being sold at Nobel Tree are also grown and manufactured by the Anse Ger Farmers in Desrisseaux, Micoud. Patrons can also look forward to a special creole breakfast every Friday. DFPS comprises 47 shops, fifty percent (50%) of which is occupied by local entrepreneurs; a clear indication of how ISL has been supporting the local business sector