Investment Committee to be established in Grenada

Sunday, January 11, 2004

ST GEORGE'S, Grenada: In keeping with its thrust on consultation and inclusion, and to ensure foreign investments are suited to facilitating sustainable development, the Government of Grenada plans to establish a multi-disciplinary Investment Committee to assess all proposals from foreign investors.

In delivering the Throne Speech at the ceremonial State opening of the First Session of the Seventh Parliament of Grenada, Governor-General Sir Daniel Williams stated the Government recognises that foreign investments are necessary if Grenada is to develop at an acceptable pace.

"Such investments are needed to provide jobs for our citizens and sustainable projects that contribute to the further modernisation of our society," Sir Daniel stated.

The Committee would comprise professional persons with specific expertise and experience in required disciplines. Responsibilities will include conducting background checks on potential investors, examining the technical and financial feasibility of proposed investments, evaluating the economic benefits and opportunities that would accrue to citizens and the business community, and assessing the environmental implications of any investment proposals. 

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