OECS Will Meet To Discuss Construction Industry

New Construction Underway In St. Kitts
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New Construction Underway In St. Kitts
Photo By Erasmus Williams

Basseterre, St. Kitts – Nevis
Janaury 19, 2009 (CUOPM)

Officials from Ministries of Finance, Works, Housing and the private and banking sectors are to meet to craft a strategy for ensuring that the construction sector makes a greater contribution to the subregional grouping.

The decision to meet in St. Vincent was taken at last week’s joint meeting of the OECS Authority and the ECCB Monetary Council to engage in an in-depth assessment of the impact of the global financial and economic crisis on member countries, discussed plans and strategies and took critical decisions to respond to the crisis.

The meeting, held at the ECCB Headquarters, emphasised the importance of the construction sector to recent economic activity and was of the view that this sector was important in leading the recovery effort.  It was also felt that there were lessons to be learnt from the work done in other Member States.

Accordingly, the meeting agreed that an urgent meeting will be convened in St Vincent and the Grenadines in March 2009, involving officials from the Ministry of Finance, Ministry of Works, Ministry of Housing, the private construction sector, banking sector, Caribbean Development Bank (CDB) and the ECCB to craft a strategy for ensuring that the construction sector makes a greater contribution to the effort.

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