29/08/2023

Ministry of Commerce initiates Community Revitalization Project

By GIS

The Ministry of Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs has collaborated with the Republic of China (Taiwan) to initiate a Community Revitalization Project that will facilitate financial resources for MSMEs. 

The Minister for Commerce, Hon. Emma Hippolyte, explained the various components of the Community Revitalization Project.

“My optimism is driven chiefly by the level of interest, enthusiasm and passion demonstrated by owners of MSMEs to participate wholeheartedly in the strategic programs instituted by the Government of Saint Lucia. Expressly for their benefit we highly anticipate that our targeted interventions such as providing increased access to funding opportunities under our loan and grant program, the packaging and labeling support, and presenting our MSMEs with viable digital transformation options, will not only build capacity and improve product offerings but will ultimately redound to the benefits of the wider community while broadening and deepening access to lucrative export markets.”

Director of Consumer Affairs, Guillaume Simon, describes the project as being an avenue that can enhance the quality of life of Saint Lucians.

“The project aims to modernize operations of MSMEs in Saint Lucia. It is multi-faceted and aims to alleviate the financial plight of small businesses in Saint Lucia engendered by overlapping crisis, while simultaneously ensuring that businesses are provided with the technical assistance in order to become more profitable and economy-resilient in the future. This project is deliberate, it identifies the four geographical areas—Soufriere, Laborie, Dennery and Castries—in relation to Saint Lucia, as to what Venice, Rome, Sicily, Milan, and Naples are to Italy: part of a national product with a destination within a destination each with the unique charm and magnetic idiosyncrasies that attract people and spur economic activity.”                

The Minister for Commerce said cost projections for the Community Revitalization Project amounted to US $1, 085, 347. The Republic of China Taiwan is expected to provide US $835, 347 while the Government of Saint Lucia contributes, human resources, facilities, and tools equivalent to US $250,000 dollars. The opening ceremony for the project was held on Aug. 22

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