Thursday, November 14, 2024

Five ways CBI contributed to Dominica in 2017

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.

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/

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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