Minister of Tourism, Civil Aviation, Sustainable Development and Culture Carlos James has highlighted the incentives that are made available to investors in St. Vincent and the Grenadines.
Minister James speaking at press briefing recently, made clear that these incentives are not just available to foreign investors but locals who wish to operate within the tourism sector as well.
“We provide a lot of incentives to investors who are coming into the tourism sector and I’m not just talking about foreign investment but locals. If you have had the opportunity to stay at an Airbnb or a small boutique hotel, be rest assured that every single one of those accommodations, they received concessions from even the bed linen and the sheets that you sleep on in these accommodations, they come in duty-free. There’s concessions in relation to a construction order which we grant to allow for a waiver of importation on construction materials, there’s a tax exemption and all of these things are available to local investors who are coming into the tourism and hospitality space.” Minister James said.
Minister James emphasized that these incentives are not just for foreigners looking to invest, but to locals who want to invest as well, whether they are entering the tourism sector, or wish to expand their current operations, he gave the assurance that accommodations will be made for them by the Government.
