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Trade and Investment in Saint Lucia
St. Lucia has an open economy which is heavily dependent on foreign trade and investment and therefore, welcomes foreign investment as a necessary input in the development strategy and economic modernization of the country. The economy was once oriented around agriculture, particularly the production and exportation of bananas, however, there has been significant progress made towards the diversification of this particular sector. Currently, the tourism sector plays a major role in the country’s economic growth, ranking as the highest foreign exchange earner and in 2001, the largest single contributor towards the country’s Gross National Product (GNP) of 12.7 percent.
In keeping with the economic changes within our global environment which continues to influence the country’s economic development, the Government of St. Lucia has identified the following as priority areas for investment opportunities.
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Financial Services |
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Informatics and Information Technology |
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Hotel and Resort Development |
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Agriculture, Aquaculture and Agro Processing |
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Manufacturing |
Should you decide to invest into one or more of the above areas, it is important that your investment proposal illustrate and emphasize how it would:
- Contribute significantly to employment;
- Increase foreign exchange earnings;
- Utilize local raw materials;
- Facilitate transfers of technology; and
- Facilitate the transfer of managerial and entrepreneurial skills.
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