Dominica’s Citizenship By Investment (CBI) Program continues to gain popularity in the market place and this has translated to a steady injection of funds into the island’s key developmental projects and industries.
Here are five success stories from the program in 2017, providing boosts to the nation’s economy and solidifying a positive future for Dominica and its people.
1. Tourism
The tourism industry enjoyed boosts in foreign direct investment, as evidenced by the ongoing construction of a number of major hotels.
Tourism is just one of the ways #citizenship by #investment funds have benefited our great nation. Read about the different ways #CBI contributed to the future of #Dominica in 2017: https://t.co/RpbF5vXnQg pic.twitter.com/qNtKeLilAz
— Dominica CBIU (@DominicaCBIU) February 8, 2018
The Kempinski and Jungle Bay resort developments are currently the most advanced in their timelines. On completion, the 5-star Kempinski hotel will boast 160-rooms, and the Jungle Bay resort will offer 120 rooms of luxurious accommodation. In total, the construction of both projects will employ 400 locals, and when opened, Jungle Bay’s developers have announced that it will provide full-time employment for over 100 Dominicans.
2. Small Business Development
Dominica’s efforts of fostering entrepreneurship across the island continue. The CBI fund (Economic Diversification Fund) kick-started several businesses in multiple sectors, from hospitality, to agro-processing and farming. Hoteliers and restauranteurs were also encouraged to upgrade their properties, with funds allotted to assist in these goals.
3. Housing
After Tropical Storm Erika in 2015, Dominica’s Government embarked upon a resettlement program that required the construction of a new development. Also featuring sporting facilities and commercial spaces, the first phase of the CBI-funded multi-million dollar project will provide 340 units in the first quarter of 2018.
4. Urban Renewal
The Citizenship Program funded the reconstruction of Roseau’s primary bridge, which was damaged by 2015’s Topical Storm Erika. The bridge reopened this year to give the city a new landmark. In conjunction with this redevelopment, the project included the dredging of the Roseau river and enhancement of the surrounding environs.
5. Infrastructural Rehabilitation
CBI funds helped upgrade the road networks to better connect communities, showcasing the government’s commitment to building safer roads in the country. The millions of dollars spent on this project will allow for better flow between towns and villages, linking services and people across the island.
Source: http://cbiu.gov.dm/five-ways-cbi-contributed-dominica-2017/
