Profile
distinctive destination for progressive busi- nesses, those who want to reap the benefits of shrewd foresight of investing, before informa- tion is widespread about this treasured busi- ness location.
The local government is interested in exploring the possibility of encouraging foreign direct investments into the coun- try to help with this enterprising transi- tion from past to present Montserrat. Foreign direct investment will have a positive impact on the economy in the area and promote economic growth, so the “Foreign Direct Investment in
Latin America and the Caribbean 2011” report was well received. The report affirmed that For- eign Direct Investment is at its highest to date in these areas.
There is also help from outside agencies in
Montserrat’s recovery back to its previous glory as a self-sustaining economy. The board of di- rectors of the Caribbean Development Bank (CDB) has approved a strategy outlining the Bank’s programme of assistance to Montserrat for 3 years, from 2012 to 2015. These initiatives will contain advice on strengthening human cap- ital; improving employment prospects and de- veloping economic expectations in the region. This will enable Montserrat to prosper once again, to reach economic stability, and to attract foreign direct investment onto the island.
50% of the GDP in Montserrat by 2020. Local and foreign direct investment will assist in reaching these targets.
What industry should re-locate here? Cable
& Wireless, Barclays and the Royal Bank of Canada are examples of foreign companies al- ready set up in Montserrat. As a small island, Montserrat can focus on a specific industry, without becoming too reliant on any one single sector. So, be your business in banking, finance, insurance or electronic data management, to name but a few make sure you look towards Montserrat for your next investment. With a sta- ble government and great developmental poten- tial, look no further for your business expansion. So what is the government doing to encourage FDI and allow for simple, problem free business
start-ups? The Montserrat gov- As an overseas
territory of the UK, Montserrat has access to support from over-
seas. A memorandum of understanding (MOU) be-
tween Britain’s Department for International Development (DFID) and Montserrat, sum- maries a variety of improvements the government must accept to qual- ify to obtain increased capital invest- ment and technical support from the UK. As with all reforms and assistance there has to be a final goal for the projects. The MOU wants to see the private sector taking over more than
New European Economy
ernment embraces expat invest- ments and it has made it easy to buy business and domestic properties. All the mon- etary matters are settled through US dollars and with good infrastructure and the hospitable in- habitants your company will start off on the right footing! The population, currently estimated at 5,164, are English speaking so there are no lan- guage barriers to the US and European markets. The government's optimism and readiness to grant incentives and general support to foreign direct investment is a pulling power unmatched elsewhere. The incentives provided include tax holidays, duty-free imports, and the right to send your investment and profits home. Yes, Montserrat's economy was damaged by the volcano, but is certainly repairable, and will come back even stronger. So don’t delay, start to focus your investment and your business ex- pansion opportunities in the Emerald Isle, to ex- perience the Caribbean at its best.
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