Caribbean News Now!

About Us Contact Us

Countries/Territories

Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.

Contribute

Submit news and opinion for publication

Subscribe

Click here to receive our daily regional news headlines by email.

Archives

Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin
Instagram



News from the Caribbean:




Back To Today's News

CBI program brings investment to all business sectors of Dominica, says PM
Published on February 17, 2017 Email To Friend    Print Version

roosevelt_skerrit11.jpg
Prime Minister Roosevelt Skerrit

By Caribbean News Now contributor

ROSEAU, Dominica -- The citizenship-by-investment (CBI) program has been a life-saver for the people of Dominica – without it, the country would have struggled to recover from Tropical Storm Erika. That was the message from Prime Minister Roosevelt Skerrit, who addressed the Dominica Business Forum on Wednesday, February 8, 2017.

“The government’s challenge is to attain annual economic growth of 5 to 7 percent,” said the prime minister. “We have set this target in the context of rebuilding our infrastructure and businesses, finding the resources to address the impacts of climate change, meeting the needs of the population and honoring our external and local obligations.”

The prime minister told the forum that all the investments have been made possible by the country’s CBI program.

“The immediate focus is on the hotel and real estate sectors, but it will soon go beyond that,” he said.

The construction work already in progress and projects planned to commence this year should result in a dramatic increase in 5-star quality rooms within the next two to three years. These new investments will stimulate demand in the economy and support expansion of the private enterprises as the supply chain to the sector grows and diversifies.

The cabinet is now formalizing a mechanism for channeling CBI resources to support viable manufacturing and agro industries. Cabinet has already approved an amount to be loaned to a local private investor to support the purchase of the Dominica Coconut Products plant from Colgate Palmolive.

In addition, the government has already made available from CBI resources:

1. $10 million dollars to the AID Bank to lend to farmers to invest in the agricultural sector with an interest rate of 3 percent and a grace period for beginning repayment of 6 months.

2. $15 million to the hotel and restaurant owners for the upgrade of their plants, with an interest rate of 3 percent and a grace period to begin repayments of one year.

3. Another amount has just been approved by the Cabinet for the further development of the music Industry in Dominica. These loans are being administered by the AID Bank will be at an interest rate of 2 percent and a grace period of one year.

There will also be a facility made available to manufacturers, with tax breaks for businesses that invest substantially in the upgrade of their premises. “None of these initiatives could be done without the significant inflow of resources from the CBI program,” the prime minister said.

“Capital projects are being financed from inflows from the CBI program. These include the West Bridge, the Douglas Charles Airport, all of the Road Works, the eradication of pit latrines and the Housing Revolution, and the National Employment Program.”

The government says it will use CBI funds to grow and expand the economy, provide a source of cheaper financing for the private sector, eradicate poverty and build a modern infrastructure to accommodate the growing economy.

“We have invested millions thus far and will make a further investment of US $15 million in the development of the geothermal plant,” the prime minister noted. “I am sure that you all look forward to the significant reduction in the cost of energy that will follow. This will have a positive impact to your businesses and this should also stimulate investments by others in establishing new businesses.”

Dominica may not have been the first country to introduce a citizenship program, but it allows the country to survive in a global atmosphere of uncertainty, according to the prime minister.

“There is a lot of misinformation, inaccurate statements and downright lies circulating about the program,” he said. “The clear intent is to undermine or destroy the program. The calculated and coordinated attack on the CBI program by elements in Dominica, with support from external elements, is causing serious threat to its continued success. We should not allow this to happen.

“Dominica operates its CBI program in an open and transparent manner, with our main objective being to attract high quality applicants. We see each new citizen as being part of our community, therefore the grant of citizenship to these individuals is taken very seriously.

“We have created a product that is internationally competitive, a winner, and a leader in the regional push to attract foreign direct investment and stimulate job creation. Moreover, unlike those obtained via the banana industry, the CBI program is a product which is owned by us, is marketed by us, and one from which the direct benefits flow into our Treasury and our economy,” he continued.
 
Reads: 6308





Click here to receive daily news headlines from Caribbean News Now!




Back...

Comments:

Dr. Kermit D. Frog,Phd.,:

This man is a blatant and dangerous liar!!!! It’s so sad that there are still Dominicans who support and believe in this man whose actions have disgraced and maligned our Country. There were 6 WEALTHY individuals who were either detained or arrested while being in possession of Dominica’s Diplomatic Passports. Prior to these arrests and detention many of these individuals were photographed in direct contact with Roosevelt Skerrit. And you’re telling me that there are still some Dominicans who don’t see that as HIGHLY suspicious? Now the latest scandal having to do with the arrest of Alireza Monfared revealed that Monfared was involved in evading and avoiding U.S. and U.N. sanctions against Iran, it further revealed the use of Dominican flagged oil tankers and the fact that Monfared was in Dominica AFTER the Government learned that he was “a person of interest”. My God! What more does Skerrit need to do before some people open their eyes???

Now, this embarrassment and poor excuse for a Prime Minister comes with an unreasonable and idiotic false accusation that several unarmed individuals intended to rush, past the numerous armed policemen on the street, armed snipers in the building and on rooftops, into the Financial Building to seize his Office and remain there until their demands were met…and somehow some people actually believe it!!! I mean I’ve never seen or heard of Dominicans being willing to go on suicide missions that is surely doomed to fail even before it begins. Rushing the Financial Center Building against machine guns and sniper bullets? I don’t think so. Not to mention knowing that the riot squad is nearby with bullets and tear gas. It is amazing that some Dominicans would buy into that, like we don’t know each other and what we’re capable of. Any right-thinking Skerrit supporter who gives it any length of thought would have to admit that any Dominican who even thinks of this idea is crazy!

Dominicans are sick and tired of this man's lies and nefarious actions...HE MUST GO! SKERRIT MUST GO! SKERRIT MUST GO! SKERRIT MUST GO!!!
This shameless man has lost the moral authority to be Prime Minister. He is now using the lie of an attempted coup to have the Police going around in camouflage uniforms with automatic rifles raiding the homes of his opponents in the wee hours of the morning and arresting them.

All this, yet not a single word on the Monfared issue, the reason for his sudden trip to Greece immediately after Monfared's arrest, the Dominican flagged tanker stopped in Vietnam carrying illegal oil, the fact that so many of HIS diplomats are being arrested in high profile international crimes and an exact accounting of CBI sales and expenditures.

If CARICOM heads of Government continue to support Roosevelt Skerrit they will lose the confidence of their own people. St. Vincent has already spoken out and there was a very interesting article in the Barbados Today...who will be brave enough to be next. Let's not forget how Skerrit pushed the now disgraced Baroness Scotland down our collective throats...only for her to turn around and viciously insult a large segment of Dominicans! CARICOM please help us! SKERRIT MUST GO!!!

ran:

1. This is an appeal to all journalists in the region to be weary of the false information you are fed from Linton. Yes Linton has been a well established journalist for his entire career and has developed good relationships with the media, but this does not mean the media can falsely and incorrectly report on matters that Linton feeds to his friends at the various news outlets.

2. Let's look at the recent "protest" that degenerated into a riot. The press reported that there were thousands protesting against the Government but if those journalists did their correct fact checking, evidence clearly shows no more than 400 people showed up. Linton fed the media a different story.

3. The media has a duty to bring the correct information to the public - why is this not happening?

4. Linton dabbles with the unlawful and lawless - first, he hires a criminal to write blogs to smear the name of the country. Second- despite false promises of a peaceful riot, Linton finds hooligans and misfits to go around rioting, damaging and smashing up the town.

5. Why does he create all this drama - well there can be no other reason than the fact that he knows that he will never become Prime Minister through a democratic process. He doesn't have a majority or any real power so he knows he can't become PM without taking this approach to demonise the current Government and bring the country to its knees through protests, riots and violence.

6. The resultant effect of this Machiavellian approach is that he is not only discrediting the Government but he is giving every Dominican a bad name. Linton is vilifying the name of the "Commonwealth of Dominica"

7. Mr Linton, if in the unlikely event that you become PM, the continued damage that you are doing now, will be irreparable, even under your leadership.

8. Don't you realise you are shooting yourself in the foot! The people of Dominica should understand this.

9. Dominicans have always been known as the friendliest and gentlest in the region but the way the international world is starting to view the country as violent rioters, is causing damage that runs so deep that it does not only affect our reputation but it effects the investments coming in, and the economy of the country. People of Dominica, You do not have to believe me now- it is only when the black mark is so indelibly on our name that you will realise that no one will be a winner.

10. What is happening now is much worse than the damage caused by Storm Erika

11. The question we need to ask ourselves is " At what cost does Linton want to become PM"

Peg:

Like everything there is always room for improvement and more education. The CBI program is one of those. I'm one of those who have paid close attention to and continue to pay close attention to this program. I see it as a positive contribution to the continued development of our little island Dominica and should be given a chance to continue to mature and do well. Not because you are a good orator and one who ensures that you are speaking louder than everyone else means you're telling the truth. Kermit the frog I would invite you to educate yourself and stop repeating everything you hear from Linton an other members of the opposition. The CBI program is working for us and I believe we should continue to support it and use it to strengthen our economy and other areas of development.

ran ilal:

One of Linton's close aids Dwight was bragging that Linton paid Kenneth Rijock and Gregory Copley to create all these stories to discredit the Government and Linton received financial support from Henley. Dwight said he was there with Linton when the deals were being made.

Dr. Kermit D. Frog,Phd.,:

Another unlikely character who amassed houses by the score in eastern England was Bobby Wahi. Operating from a local trading estate, he bought at least 42 premises that we have identified, in the Skegness, Mablethorpe and Boston area of Lincolnshire. Acquired in the name of a dozen different BVI companies, the purchases were fuelled by loans from RBS (again) and the then Britannia building society.

Wahi, a former car dealer, told prospective customers he was a UN "goodwill ambassador" and styled himself LL.B [Hons] and "His Excellency". In the Caribbean, he also registered the short-lived "Private Capital Bank" of Dominica, whose licence was revoked following a change of local regime.

After the credit crunch in 2007, the Co-operative Bank, which took over Britannia, appointed receivers, and was forced to keep Wahi's repossessed properties on its books. With a last-known address in Spain, he did not respond to the Guardian's attempts to contact him.***

[Excerpt from the Guardian.com How secret offshore firms feed London's property boom Investigation names investors exploiting offshore tax and duty loopholes allowing overseas purchasers to buy up UK property]

EXPECT TO HEAR THE NAME BOBBY WAHI QUITE A LOT IN THE NEAR FUTURE!

Find out who Bobby Wahi is and why that name sends chills up Roosevelt Skerrit's and Anthony W. Astaphan's spines!
https://audioboom.com/posts/5621521-dominica-crisis-in-the-commonwealth-what-is-to-be-done-gregory-copley-defense-foreign-affairs

FYI Enjoy!!!!


Back...

Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Comments:
Enter Code



Please note that, if you are using an AT&T domain email address, e.g. att.net, bellsouth.net, sbcglobal.net, the verification email will likely not be delivered. This is outside of our control and the only remedy seems to be for readers to complain to AT&T





Disclaimer
User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.




Other Headlines:



Regional Sports: