PM Douglas Speaks At 2008 National Economic Consultation
Photo By Erasmus Williams
Basseterre, St. Kitts – Nevis
August 14, 2008 (CUOPM)
St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas said Thursday that in spite of the global upheavals that make the news headlines every day, the twin-island Federation continues to grow steadily.
“Our financial institutions remain strong, and investors ““ local and foreign ““ continue to place great confidence in the growth prospects of our Federation,” Prime Minister Douglas told the opening ceremony of the 2008 National Consultation on the Economy.
Prime Minister Douglas pointed to the continued development of the Marriot expansion plans that will see more than 300 additional hotel rooms added to St. Kitts and Nevis.
“The Kiawah group is still working steadfastly to expeditiously commence construction on the Mandarin Oriental Hotel as the first phase of a comprehensive development project that will transform the entire Southeast Peninsula into a world class tourism development capable of competing with any similar development on the face of the globe,” Dr. Douglas said, adding: “We cannot take our progress for granted.”
He pointed out that St. Kitts and Nevis as a small nation continues to be extremely vulnerable. “Indeed, even the global experts seem unsure as to how long the global credit crisis and the resulting economic slowdown will last. Hence, we cannot be certain that we will not be affected even more severely if these global problems are prolonged. We must therefore devise strategies aimed at mitigating, to a significant degree, the risk associated with the tumultuous changes in the global environment,” Dr. Douglas told the 200 participants drawn from the Federal Government and Nevis Island Administration, the National Assembly and the Nevis Island Assembly as well as representatives from several organisations including the St. Kitts and Nevis Chamber of Industry and Commerce, bankers, the Contractors Association, the Association of Disabled Persons, students of the Clarence Fitzroy Bryant College and the he Hotel and Tourism Association.
