(Thursday, 9th August 2018)
This is how the CBI Programme is helping Dominica this year, thanks to investors worldwide. PM Skerrit announces impressive figures.
During his recent Budget Address, Dominica’s Prime Minister Roosevelt Skerrit announced the crucial role the Citizenship by Investment (CBI) Programme plays in improving the lives of this Caribbean nation.
According to PM Skerrit, the CBI Programme is estimated to bring an extra EC$406.6 million to the country’s revenues in the coming year. One of the new directions the funds are used for is an ambitious Housing and Resettlement project to address the standard of living of the locals post-Maria. 5,000 homes are planned to be built under the CBI Programme, with the first 1000 already contracted for construction. The homes are designed to withstand seismic events and Category 5 hurricanes, in line with Dominica’s innovative efforts to become the world’s first climate resilient nation.
Thanks to the EC$5m contribution from the CBI Programme, the 1-year National Health Insurance pilot has so far offered 16 Dominican children access to critical medical care overseas. The government plans to extend the beneficiary eligibility to 16 years of age. The pilot is proving to be a good second-base foundation for a comprehensive national health insurance programme to benefit all Dominican citizens.
The tourism sector is seeing a major boost, with the development of the world-class CBI-funded hotels making significant progress and opening hundreds of permanent job opportunities for the people of Dominica.
• KEMPINSKI: with the help of over 450 construction workers, all major structural works have been completed. The hotel will add 161 rooms to the current stock and is expected to officially open by fall 2019;
• JUNGLE BAY: the well-known resort & spa is reporting steady progress with 30 villas scheduled to open by February 2019. The full project will be completed in December 2019 and will create 100 permanent jobs;
• ANICHI: The 128-room Marriott development is advancing speedily, with five blocks currently under construction and prospects to employ up to 280 citizens;
• TRANQUILITY BEACH: the Hilton Curio development starts construction in October 2018. Mobilisation of equipment and machinery has begun and housing and for staff and management has been sourced.
For a full list of government approved real estate that qualify for Dominica’s CBI Programme, please visit the official government website at cbiu.gov.dm