Published 17 October 2024
Buckie Got It
St. Kitts and Nevis News Source
Attached is Prime Minister Honourable Dr. Terrance Drew’s recent Address to the nation on the state of the Citizenship by Investment (CBI) Programme, in which he outlined significant developments and the forward-looking vision for the program as part of our Sustainable Island State Agenda.
Key Points from Prime Minister Drew’s Address
- Steps taken to revive SKN CBI [from paragraph 8]
- The over-reliance on CBI (60-70% of federal revenue) and its vulnerability to international politics and scrutiny.
- Immediate action by Drew-led administration.
- New CBI standards, including oversight boards,
- February 2023 US-Caribbean Roundtable leading to six regional principles.
- Monies generated from CBI from 2019 -2024 [from Paragraph 14]
- A New Era / From CBI to SEED [Transformative Projects]
- Transitioning from a CBI-dependent economy to a diversified, sustainable economy.
- Transformative Projects:
- Climate-Smart Hospital
- New Basseterre High School.
- Smart Homes Initiative
- Basseterre Desalination Plant.
- Agricultural Initiatives
- Geothermal Energy projects.
- Revitalizing tourism hubs like Kittitian Hill and Christophe Harbour.
- Outline of the SEED framework to reduce dependency on external markets.
