Invest Saint Lucia Cops Second Place in Coveted AIM Investment Awards
Written by Radio Caribbean International on November 10, 2020
Invest Saint Lucia participated in the Annual Investment Meeting (AIM) once again. AIM is a foreign direct investment focused event that offers features focused on enriching institutional, corporate and individual investors with a comprehensive view of the investment environment. This year AIM was held virtually for the very first time from on 20-22 October, still maintaining its calibre of activities.
One of the highlights of the yearly event is the AIM Investment Awards which has been hosted by AIM for eight consecutive years. It recognises AIM participants for innovation, creativity and accomplishment in sustainable investment. AIM awards are globally coveted in the industry and investment promotion agencies use them to corroborate success in sustainable investments and increase attractiveness for investment.
Invest Saint Lucia entered the Anse de Sable Development Project for the 2020 competition for the Latin America and the Caribbean region. ISL’s submission placed second in this category and was announced at the event which is under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Abu Dhabi.
The awards are granted after analysis of the nomination’s sustainability and local linkages, trade balance effects and knowledge transfer among other criteria. Anse de Sable Development Project came in second only to Mexico’s Secretariat of Economic Development. This year’s judging panel included the CEO of the World Association of Investment Promotion Agencies (WAIPA), Bostjan Skalar and other renowned professionals in foreign direct investment and special economic zones advisory.
The plan for the development was initiated by Invest Saint Lucia, as the agency is seeking to bring more economic and social activity to the Vieux Fort with Anse de Sable’s transformation into a multi investment opportunity especially of local interests. Investment opportunities will range from small business in varying industries, accommodation and entertainment.
It will also focus on diversifying Vieux Fort and attracting visitors by promising all the same goods and services found in the north of the island with comfort and ease. This would essentially elevate the standard of living in the south and provide variety in job creation and recreation for surrounding residents. This concept is supported by the Government of Saint Lucia as it will decentralize economic activity in heavily congested areas like Castries and Gros Islet.
“Thank you AIM for selecting us,” chairman of Invest Saint Lucia, Mr Pinkley Francis opened his acceptance remarks, “Invest Saint Lucia is both humbled and flattered to be chosen in the top three for the Caribbean region. Being a runner up for this investment award demonstrates that the Government remains hard at work and will continue to make Saint Lucia an attractive investment destination.”
In 2018, Invest Saint Lucia accepted the first-place prize in Latin America and the Caribbean for Desert Star Holding’s Pearl of the Caribbean.