News

Prime Minister: “Investment Is Slowly Returning” to St Lucia

By: Caribbean Journal Staff - July 25, 2014 - 4:26 pm

Above: St Lucia

By the Caribbean Journal staff

St Lucia Prime Minister is “optimistic” on the outlook for the country’s economy.

“Investment is slowly returning to [St Lucia],” Anthony said this week.

The Prime Minister was speaking at the opening of the 16th Biennial Convention of the Union of Saint Lucian Overseas Associations in St Lucia earlier this week.

“Two years ago, four of our major hotel properties were in distress, and in the hands of receivers appointed by banks,” he said. “Today, all four properties have new owners and new management.”

The most recent estimate of St Lucia’s foreign direct investment was in 2012, when the Eastern Caribbean country received $109.4 million USD in FDI, according to data from the World Bank.

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