St. Lucia’s Prime Minister Allen Chastanet has arrived in China defending the multi-billion dollar investment planned for the south of St. Lucia by Asian investors.
Chastanet has been invited to the Asian country by the chairman of Desert Star Holdings (DSH)Limited, Teo AhKing, who has applied to establish the multi-billion dollar resort development here.
“Mr. Ah Khing and his team have really opened themselves up to scrutiny and transparency. They welcome it and they understand that given the magnitude of the project they are proposing, questions must be asked,” Prime Minister Chastanet said in Beijing.
“Beyond that, they have invited me to every event and function that could possibly give the island extensive exposure. As Prime Minister, I believe valuable linkages were formed and should redound to some good opportunities for our economy,” he added.
Prime Minister Chastanet was making specific reference to the opportunities for networking and meeting of investors. One such event was the 2016 China Equine Cultural Festival (CECF) which is a premier, lifestyle and thoroughbred racing festival in mainland China.
Earlier this month, the government sought to dispel rumours surrounding the multi-billion dollar project with the Hong Kong-based DSH.
A government statement indicated that it had been alerted “to the many comments, queries, and concerns and expressed views that have been circulating in the media” since the July 29 announcement of the proposed US$2.6 billion integrated development project.
The government said that the DHS project will result in a mixed-use real estate development enterprise involving, inter-alia, entertainment and sporting facilities, as a third category under the real estate provisions of the CIP legislation.
It will also encompass a project that meets the basic stipulation but entails: a horse racing track, high-end hotel and residences, a casino, free trade zone, an equine diseases free zone, and a marina.
In its statement, the government said that the proposed DSH project is indeed a significant project, which is anticipated to advance the socio-economic status of the southern part of the island.
