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Extra info for Caribbean Rim, Antigua and Barbuda, Grenada and St. Lucia: OECD Investment Policy Reviews
Factors influencing investment Factors Ranked as Risk of armed conflict (civil or external) Very low Risk of significant social unrest Partially low Constitutional mechanisms for the orderly transfer of power from one government to another Strong Threat of international disputes and tensions to the economy Moderate Commitment of present or future government to implement open, liberal and pro-business policies for nationals and foreigners Moderate Political stability Very strong Economic stability Moderate Exchange rate volatility Moderate Inflation Moderate Legal framework for business and investment Strong Size of local market Moderate Regional market access (America and the Caribbean) Moderate Global market access Moderate Incentives (including free zones) High Costs of raw material Partially low Cost of labour force High Availability of well-trained workers Moderate Degree of productivity of workers Partially low Labour regulations Strong Infrastructure: Ports Airports Highways/Land connections Very weak Moderate Moderate Openness to foreign investment Very high Source: Interviews with the 15 largest investors in Antigua and Barbuda based on a Business Survey, Third Quarter of 2003 and First Quarter of 2004.
The National Insurance Scheme (NIS) estimates that about 8 per cent of the labour force was displaced by the effects of the hurricane. Third, businesses are seeking concessionary capital, as opposed to direct assistance, to rebuild their businesses. This suggests a resilient private sector in Grenada. In a statement to the United Nations on 2 November 2004, the Hon. Elvin Nimrod, Minister of Foreign Affairs and International Trade, declared that Ivan had halted, but not stopped Grenada. Sustained efforts to rebuild Grenada in the aftermath of Hurricanes Ivan and Emily offer numerous opportunities for investing in the country.
A new investment code will be prepared and implemented by September of this year. The code will, inter alia , improve and clarify the legal system for investment in Grenada; outline investor rights and obligations and detail investment procedures and means to access fiscal incentives. The Land Registry will be upgraded with a view to enhancing the accessibility of records to the public, including information on the leaseholds of public lands granted, the duration of the leases, and to whom granted.
Caribbean Rim, Antigua and Barbuda, Grenada and St. Lucia: OECD Investment Policy Reviews by OECD (Organisation for Economic Co-operation and Development)