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      "title": "Information and Communication Technology Investment Oppurtunity in SVG",
      "body": "![](https://cdn.steemitimages.com/DQmaKhMd6RqTH579zN9c6wRdzaXawLwmEfvhWKhgqhjHQjg/image.png)\nSt. Vincent and the Grenadines is well poised to take advantage of developments and investments in the ICT sector due to the excellent existing telecommunications network, the training already being offered in the field (thus eliminating the need for an investor to conduct his/her own training), St. Vincent and the Grenadines’ proximity to North America and Europe, and the fact that English is the first language.\n\nHeavy investments in higher education in Information Technology and plans for a new technology park will increase investment prospects in this sector. Value added services to telecommunications, Intellectual Property, Research & Development and Medical transcriptions are areas for investments that can be pursued in Saint Vincent & the Grenadines. English as a first language is a clear advantage over countries in the Far East in the transcription of medical notes dictated by Physicians. Similarly, Saint Vincent & the Grenadines is an attractive location, particularly since individual companies with proprietary software are finding it attractive to register offshore.\n\nThe Information and Communication Technology Services Investments Act, 2007 aims to encourage and facilitate investment and the creation of employment in the information and communication technology services sector.  In order to receive benefits under this Act, applicants must meet the requirements of ‘approved company’ status. Such a company may apply to the Minister for consideration of Cabinet to be granted the status of an approved company under this Act. The application must be in the form set out in the schedule of the Act.\n\nAn approval is for a period permitted in Section 14 from the date of the grant of approval\n\nApproval may be revoked by Cabinet upon finding that the approval was procured by false, inaccurate or misleading information.\nIncentives granted to companies with the ‘approved company’ status in the ICT Sector\n\nImports free of duty plants, machinery, equipment and fixtures for use in the provision of information and communication technology services.\n\nThe Invest SVG is actively involved encouraging Small and Medium-size Enterprises (SME) in the ICT sector to develop their projects, and to seek investment for available sources, whether locally or overseas. Further, the Government has taken the initiative to ensure the availability of trained individuals in ITC through the National Institute of Technology\n(NIT), higher education in Information Technology is being made available to increasing numbers of Vincentians. Some areas of training include MCSE, MCSA, CompTIA A+ Certification, and Training in Medical Transcription.\n\nThe Government is open to partnering with the Private Sector in order to establish an IT college. The overall objective of this training strategy will, in the short term, allow St. Vincent and the Grenadines to offer a pool of trained individuals in the areas of:\n\nSoftware development\nIT enabled services (call centres, back office processing etc)\nICT Content/Data Base Creation\nComputer Hardware repairs and sales\nContract programming Web page development ICT training Services\nData communication, internet and ICT services provision\nGeographic Information System and Image Processing\n\nICT is a youthful industry in St. Vincent and the Grenadines; and those interested in investing in ICT, at this time, have the unique opportunity to help shape and influence the direction of this key sector.\n\n01. Technology Parks\nSt.Vincent and the Grenadines has designated factory shells which have the potential for conversion into technology parks.\n\n02. Investment Business\nOpportunities for manufacturing of technology that feeds the communication sector.\n\n03. Employee Pool\nA growing pool of skills in IT and technology .\n\nThe general politicial landscape and geographic location of the Island makes it ideal for privacy issues and avoiding certain regulations.",
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      "body": "Congratulations @proxyproctor! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/votes.png)](http://steemitboard.com/@proxyproctor) Award for the number of upvotes\n[![](https://steemitimages.com/70x70/http://steemitboard.com/notifications/post4day.png)](http://steemitboard.com/@proxyproctor) You published 4 posts in one day\n\n<sub>_Click on the badge to view your Board of Honor._</sub>\n<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>\n\n\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "title": "Renewable Energy Investment Opportunities in the Caribbean- Invest SVG",
      "body": "![](https://cdn.steemitimages.com/DQmTmsaA3QqXhR1Rm3WFWUCoaLJbTEcQkt5fNxGMBVQ4K99/image.png)\nRenewable Energy\n\nThe Government of Saint Vincent & the Grenadines, in an effort to minimize the country’s dependence on the importation of fossil fuels have shifted its energy policies to encourage the investment of renewable energy.\n\nSt. Vincent and the Grenadines (SVG) is a multi-island state comprising the main island of St. Vincent and a collection of inhabited and uninhabited islets and cays making up the Grenadines. \n\nThe islands are home to a population of 103,000 people and cover a land area of 389 square kilometres. Aside from the main island of St. Vincent, other Grenadine islands with significant energy demands include the islands of Bequia, Union and Canouan. The country is almost completely dependent on imported petroleum products such as diesel (transport and electricity generation), gasoline (for transport), kerosene (cooking) and butane/LPG (cooking and water heating). \n\n In 2010, the Government’s Cabinet adopted an Energy Action Plan (EAP) to be implemented within the framework of the approved National Energy Policy. The EAP outlines a number of renewable energy and energy efficiency milestones to be achieved through specific actions to be accomplished within short, medium and long-term time frames. One of these milestones is to reduce the projected consumption of fossil fuel in the transport sector by 15% by 2020.\n\nSVG is heavily dependent on imported petroleum products for electricity generation, transportation, cooking, and other energy requirements. It has an energy mix with more than 83% petroleum base and about 17% hydro power with emerging contribution from solar PV and geothermal. The country is endowed with other potential indigenous sources including geothermal, solar thermal, wind and biomass.\n\nSt. Vincent and the Grenadines is an excellent choice for the development of geothermal energy which will increase energy security and sustainability. The Government has embarked on a geothermal development project that will in its first stages generate 15MW geothermal power. The development of geothermal energy therefore, is expected to facilitate a more efficient electricity market, and underpin a more enabling business environment. Geothermal energy is a significantly cheaper and a cleaner source of energy that has a much lower environmental impact than conventional energy technologies. Should our potential be realized, this will have significant and positive impact on our fledgling manufacturing sector and give a competitive edge to many small and medium sized enterprises. It will also afford a unique opportunity to attract new manufacturing enterprises that depend heavily on energy input. This sector is very promising and will become substantially more so as new opportunities are explored.\n\nThrough Government co-funding and grants from different organizations the following projects have been implemented: \n\n    Installation of 200 solar PV panels generating 50KW at the Belle Isle Correctional Facility.\n    Installation of 230kw of grid-tied, ground mounted solar power system at the newly constructed Argyle International Airport. \n    Installation and construction of a 5kw grid-tied, solar photovoltaic system and an electric car charging port at the Administrative Building to demonstrate the viability of electric vehicle technology in SVG. \n    Installation of a 10kw grid-tied, solar photovoltaic system to offset the electricity consumption of the Government’s Administrative Building. \n\n    10KW solar PV system at VINLEC’s engineering complex\n    75.9 kW PV system at the reverse osmosis (RO) desalination plant on Bequia Island that was commissioned in October 2011 to supply 170,000 kWh annually to the plant.\n\nSOLAR\n\nSaint Vincent, given its location in the Caribbean, receives an abundance of sunshine and is therefore in a position to generate electricity using photovoltaic technology. SVG has a global horizontal irradiance (GHI) that averages 5.8 kWh/m2/day throughout its low-lying lands, sufficient solar resource for flat-panel PV and solar hot water systems. SVG has, since 2011, developed initiatives utilizing solar energy\nHYDRO\n\nAmong CARICOM states, St. Vincent is the only island in the group with renewable hydro resources that are exploited for electricity generation.  This hydropower generation capability has enabled SVG to have an energy mix of more than 83% petroleum base and about 17% hydropower.\n\nThe hydropower plants on St. Vincent are distributed among three plants with an available plant capacity is 5.2 MW during the rainy season, while the output drops to around 2 MW during the dry period.  Since hydropower is not available at full scale year-round with some diesel plants working only as back-up systems, firm capacity is far lower and reached only approximately 31 MW by the end of 2005.  For St. Vincent alone, firm capacity was 26.1 MW, while peak demand was 18.6 MW in 2005 leaving sufficient reserve margin during most of the year. \nGEO-THERMAL\n\nThe Soufriere stratovolcano dominates the northern half of the island of St. Vincent and is one of the many active volcanoes in the Lesser Antilles arc. Activity of this volcano extends back at least 600 thousand years (Briden et al., 1979).\n\nSt. Vincent, like hundreds of other geologically active islands worldwide with untapped geothermal energy potential, is quite remote with difficult and geo-hazardous terrain, as well as being endowed with unspoiled natural beauty that supports a growing tourism industry. The Government of St. Vincent and the Grenadines in partnership with Reykjavik Geothermal and Emera Caribbean Incorporated (Collectively “St. Vincent Geothermal Company Limited” and in the first stages for the construction of a 15MW geothermal power development on the southern slopes of the La Soufriere volcano. \nWIND\n\nThe development of wind energy in SVG has been studied by VINLEC since 2005 with the assistance of the GIZ. The studies focused on wind resource assessments at Brighton and later at Ribishi Point on the southern side of St. Vincent. While wind measurements at Brighton have been recently discontinued, VINLEC continued to pursue an opportunity for establishing 3.6 MW of wind power at Ribishi Point and have completed environmental and social impact assessment studies.\n\nHowever, progress was halted due to issues raised by the East Caribbean Civil Aviation Authority (ECCAA) regarding the proximity of the wind farm to the new airport at Argyle. There are options currently being explored to include a scaling down of the project to utilize smaller and less obstructive wind turbines. Wind energy development has also been studied on some of the small Grenadines islands, especially Mayreau (250 inhabitants), which showed encouraging results. \n\nIt is envisaged that through these projects there will be a greater share of renewable energy (RE) in the energy mix therefore strengthening of the country’s clean energy policy framework including the streamlining of processes for RE investment approvals; increasing the capacities of appropriate institutions and individuals to support clean energy developments in SVG; and mobilizing investments for RE demonstration projects utilizing Renewable Energy resources for electricity generation.",
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      "title": "Medicial Marjiuana Legalisation in St.Vincent and the Grenadines Now welcoming Foreign Investor",
      "body": "![](https://cdn.steemitimages.com/DQmazcRuUz1ggF1oj2vWg3i4w7eRCxZu3xgeLcGhu7UsPL4/image.png)\n\nKINGSTOWN, St Vincent — St Vincent and the Grenadines (SVG) is on a path to establish a modern medicinal cannabis industry. An attorney specializing in legislative drafting, Petrona Sealey-Browne, has provided support to the initial consultative process on some possibilities regarding the crafting of a homegrown piece of legislation to establish the industry and to address ancillary matters.\n\nSVG has historically been regarded by some neighbouring islands as the exporter of cannabis illegally. The globally evolving medicinal cannabis industry has provided a lucrative opportunity for producers, manufactures and exporters to rethink environmentally unsustainable methodologies and embrace practices throughout the value chain that have the potential of benefiting all stakeholders.\n\nThe issue of deforestation from cannabis mountainside cultivation has negatively impacted on downstream activities; habitats for many endemic species; and has proven to be the major cause of significant landslides along the island’s mountain ranges. Local, regional and international entrepreneurs have shown a keen interest in the establishment of investment in both production and marketing medicinal cannabis.\n\n![](https://cdn.steemitimages.com/DQmZ43QBHzdiDYQkPYBtEuU7PnsV72qgWdAyArmWkS6SwFk/image.png)\n\n\n![](https://cdn.steemitimages.com/DQmPsgQ2NAM3BSMrgS5MRoWF56nPai33uL18EtJsvnksxmv/image.png)\n\n\nSaboto Caesar, SVG’s minister of agriculture, forestry, fisheries, rural transformation, industry and labour and chair of the National Medicinal Cannabis Industry Committee highlighted that the first overall objective is the establishment of a medical industry which will explore not only extracts from cannabis but also other plants which possess medical properties.\n\nWhen asked what exactly the legislation will look like, Caesar noted; “I do not wish at this point to preempt the legal advisors and comments which will emanate from consultations on the issue, but will note that the quest is to establish a thriving medicinal cannabis industry with equity for all stakeholders, reflecting both the social and environmental responsibility needed.”\n\nThe issue of medical cannabis has risen in importance over the last decade for discussion in the hemisphere with the United States and Canada blazing the trail on developing Industries in different states and provinces. Meanwhile, recent signs of a policy shift by the new US administration may lead to a freezing of investments in an already flourishing legal cannabis industry for at least 29 US states.\n\nIt is anticipated that there will be a widespread consultation over the upcoming months on the subject matter of what will be the best platform for a medicinal cannabis industry in SVG. These discussions will address the decriminalization of the use of cannabis for medicinal purposes in exceptional circumstances.\n\nOther issues to be addressed includes the establishment of an eligibility criteria identifying the diseases and medical symptoms for which access to medicinal cannabis by a patient may be authorized by a medical doctor; the provision of the procedure for registration and regulation of medical doctors who would wish to authorize the use of medicinal cannabis in relation to their patients whose diagnosis fall within the eligibility criteria; and the prescription for the role of the medical doctor in managing the use of medical cannabis by patients.\n\nSVG with the aid of local farmers and foreign investors can become the epicenter of the Caribbean’s medical cannabis industry. The global medical cannabis market is expected to reach a value of US$55.8 billion by 2025, and the cannabis industry as a whole is expected to outpace jobs in manufacturing by 2020. Europe is set to become the largest cannabis market in the world within the next five years with a market of over 739 million people, and a healthcare spending of €1.49 trillion.",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://www.stlucianewsonline.com/st-vincent-the-grenadines-to-launch-usmulti-million-medicinal-cannabis-industry/",
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      "title": "How to start your own Off-Shore Bank SVG",
      "body": "Below are the requirements and Procedures for starting an international Bank in the Banking haven of St.Vincent and the Grenadines. \n\n![](https://cdn.steemitimages.com/DQmb8xrsdrHPQ3ASDEPiaAA6zSpdnfbsCmwwsFNn5cPZT3k/image.png)\n\n\nInternational Banks\n\nImportant facts on St. Vincent and the Grenadines International Banking Sector\n \n\nSaint Vincent and the Grenadines has always provided a sound economic climate for international banks. There are presently some five  international banks licensed in St. Vincent and the Grenadines.\n\n \n\nThe International Banks Act of 2004 and Regulations govern the registration of international banks.\n\n \nAll banks are subject to onsite inspections at least every 12 – 18 months.\n\n \nThe Financial Services Authority's Executive Director, Mrs. Sharda Sinanan-Bollers has direct responsibility for banks.\n\n \n\nThe Authority grants two Classes of International Banking Licence:\n\n    Class A International Banking Licence\n\n    Class B International Banking Licence\n\nAll International banks applying for a licence to operate in St. Vincent and the Grenadines must submit a completed application (in duplicate) along with the prescribed fee to the Financial Services Authority.  All applicants are required to complete a ‘fit and proper’ questionnaire. The following requirements apply to all banks that are issued with a license to operate in St. Vincent and the Grenadines:\n\n    They must establish a physical presence in the island.\n     \n\n    They must have local employees.\n     \n\n    There must be at least one (1) local Director approved by the Financial Services Authority.\n\nThe following condition also applies specifically to the different classes of International Banks.\n\n \n\nCLASS A\n\n    Non-refundable application fee of US$1,000.00\n     \n\n    Each Class A bank must establish and maintain a capital fund with fully paid-up capital of not less than one million US dollars (US$1,000,000.00) or its equivalent in another currency\n     \n\n    Class A banks are required to hold a deposit or invest the sum of five hundred thousand US dollars (US$500,000.00) or its equivalent in another currency, in such a manner as the Authority may prescribe.  \n     \n\n    Designate and notify the Authority by name a registered agent, which is not an official of the bank, to act as its registered agent in the state.\n     \n\n    Class A license fees US$10,000.00\n     \n\n    Class A annual renewal Fees US$10,000.00\n\n\nCLASS B\n\n    Non-refundable application fee of US$1,000.00\n     \n\n    Each Class B bank must establish and maintain a Capital fund with fully paid-up capital of five hundred thousand United States dollars (US$500,000.00) or its equivalent in another currency\n     \n\n    Class B banks are required to hold a deposit or invest the sum of one hundred thousand United States dollars (US$100,000.00) or its equivalent in another currency in such a manner as the Authority may prescribed\n     \n\n    Designate and notify the Authority by name a registered agent, which is not an official of the bank, to act as its registered agent in the state.\n     \n\n    Class B license fees US$10,000.00\n     \n\n    Class B annual renewal fees US$5,000.00                                                                             \n\n\nFor more information visit www.svgfsa.com",
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      "permlink": "off-shore-banking-haven-svg-international-financial-services-invest-svg-easy-access-to-ibc-off-shore-banking-licenses-etc",
      "title": "Off-Shore Banking Haven SVG - International Financial Services- Invest SVG easy access to IBC, Off-Shore Banking Licenses etc",
      "body": "![](https://cdn.steemitimages.com/DQmPkZ7r3rHtbkuLeqBdE3zG9Mi3aTd1RQkyjS4dFRi2f7E/image.png)\nInternational Financial Services\n\nAs a safe, White-listed and well-regulated jurisdiction, St. Vincent and the Grenadines’ International Financial Services sector is regulated by the International Financial Services Authority (FSA). It is managed by a regulatory body with  legal experience spanning over 40 years, and is serviced by efficient professionals. The jurisdiction has a cost comparative advantage that exceeds others, and boasts a range of World Class products.\n\nVisit www.svgfsa.com for more information",
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      "parent_permlink": "investment",
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      "permlink": "renewable-energy-investment-oppurtunities-in-the-caribbean-invest-svg",
      "title": "Renewable Energy Investment Oppurtunities in the Caribbean- Invest SVG",
      "body": "![](https://cdn.steemitimages.com/DQmTmsaA3QqXhR1Rm3WFWUCoaLJbTEcQkt5fNxGMBVQ4K99/image.png)\nRenewable Energy\n\nThe Government of Saint Vincent & the Grenadines, in an effort to minimize the country’s dependence on the importation of fossil fuels have shifted its energy policies to encourage the investment of renewable energy.\n\nSt. Vincent and the Grenadines (SVG) is a multi-island state comprising the main island of St. Vincent and a collection of inhabited and uninhabited islets and cays making up the Grenadines. \n\nThe islands are home to a population of 103,000 people and cover a land area of 389 square kilometres. Aside from the main island of St. Vincent, other Grenadine islands with significant energy demands include the islands of Bequia, Union and Canouan. The country is almost completely dependent on imported petroleum products such as diesel (transport and electricity generation), gasoline (for transport), kerosene (cooking) and butane/LPG (cooking and water heating). \n\n In 2010, the Government’s Cabinet adopted an Energy Action Plan (EAP) to be implemented within the framework of the approved National Energy Policy. The EAP outlines a number of renewable energy and energy efficiency milestones to be achieved through specific actions to be accomplished within short, medium and long-term time frames. One of these milestones is to reduce the projected consumption of fossil fuel in the transport sector by 15% by 2020.\n\nSVG is heavily dependent on imported petroleum products for electricity generation, transportation, cooking, and other energy requirements. It has an energy mix with more than 83% petroleum base and about 17% hydro power with emerging contribution from solar PV and geothermal. The country is endowed with other potential indigenous sources including geothermal, solar thermal, wind and biomass.\n\nSt. Vincent and the Grenadines is an excellent choice for the development of geothermal energy which will increase energy security and sustainability. The Government has embarked on a geothermal development project that will in its first stages generate 15MW geothermal power. The development of geothermal energy therefore, is expected to facilitate a more efficient electricity market, and underpin a more enabling business environment. Geothermal energy is a significantly cheaper and a cleaner source of energy that has a much lower environmental impact than conventional energy technologies. Should our potential be realized, this will have significant and positive impact on our fledgling manufacturing sector and give a competitive edge to many small and medium sized enterprises. It will also afford a unique opportunity to attract new manufacturing enterprises that depend heavily on energy input. This sector is very promising and will become substantially more so as new opportunities are explored.\n\nThrough Government co-funding and grants from different organizations the following projects have been implemented: \n\n    Installation of 200 solar PV panels generating 50KW at the Belle Isle Correctional Facility.\n    Installation of 230kw of grid-tied, ground mounted solar power system at the newly constructed Argyle International Airport. \n    Installation and construction of a 5kw grid-tied, solar photovoltaic system and an electric car charging port at the Administrative Building to demonstrate the viability of electric vehicle technology in SVG. \n    Installation of a 10kw grid-tied, solar photovoltaic system to offset the electricity consumption of the Government’s Administrative Building. \n\n    10KW solar PV system at VINLEC’s engineering complex\n    75.9 kW PV system at the reverse osmosis (RO) desalination plant on Bequia Island that was commissioned in October 2011 to supply 170,000 kWh annually to the plant.\n\nSOLAR\n\nSaint Vincent, given its location in the Caribbean, receives an abundance of sunshine and is therefore in a position to generate electricity using photovoltaic technology. SVG has a global horizontal irradiance (GHI) that averages 5.8 kWh/m2/day throughout its low-lying lands, sufficient solar resource for flat-panel PV and solar hot water systems. SVG has, since 2011, developed initiatives utilizing solar energy\nHYDRO\n\nAmong CARICOM states, St. Vincent is the only island in the group with renewable hydro resources that are exploited for electricity generation.  This hydropower generation capability has enabled SVG to have an energy mix of more than 83% petroleum base and about 17% hydropower.\n\nThe hydropower plants on St. Vincent are distributed among three plants with an available plant capacity is 5.2 MW during the rainy season, while the output drops to around 2 MW during the dry period.  Since hydropower is not available at full scale year-round with some diesel plants working only as back-up systems, firm capacity is far lower and reached only approximately 31 MW by the end of 2005.  For St. Vincent alone, firm capacity was 26.1 MW, while peak demand was 18.6 MW in 2005 leaving sufficient reserve margin during most of the year. \nGEO-THERMAL\n\nThe Soufriere stratovolcano dominates the northern half of the island of St. Vincent and is one of the many active volcanoes in the Lesser Antilles arc. Activity of this volcano extends back at least 600 thousand years (Briden et al., 1979).\n\nSt. Vincent, like hundreds of other geologically active islands worldwide with untapped geothermal energy potential, is quite remote with difficult and geo-hazardous terrain, as well as being endowed with unspoiled natural beauty that supports a growing tourism industry. The Government of St. Vincent and the Grenadines in partnership with Reykjavik Geothermal and Emera Caribbean Incorporated (Collectively “St. Vincent Geothermal Company Limited” and in the first stages for the construction of a 15MW geothermal power development on the southern slopes of the La Soufriere volcano. \nWIND\n\nThe development of wind energy in SVG has been studied by VINLEC since 2005 with the assistance of the GIZ. The studies focused on wind resource assessments at Brighton and later at Ribishi Point on the southern side of St. Vincent. While wind measurements at Brighton have been recently discontinued, VINLEC continued to pursue an opportunity for establishing 3.6 MW of wind power at Ribishi Point and have completed environmental and social impact assessment studies.\n\nHowever, progress was halted due to issues raised by the East Caribbean Civil Aviation Authority (ECCAA) regarding the proximity of the wind farm to the new airport at Argyle. There are options currently being explored to include a scaling down of the project to utilize smaller and less obstructive wind turbines. Wind energy development has also been studied on some of the small Grenadines islands, especially Mayreau (250 inhabitants), which showed encouraging results. \n\nIt is envisaged that through these projects there will be a greater share of renewable energy (RE) in the energy mix therefore strengthening of the country’s clean energy policy framework including the streamlining of processes for RE investment approvals; increasing the capacities of appropriate institutions and individuals to support clean energy developments in SVG; and mobilizing investments for RE demonstration projects utilizing Renewable Energy resources for electricity generation.",
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      "parent_author": "",
      "parent_permlink": "cannabis",
      "author": "proxyproctor",
      "permlink": "medicial-marjiuana-legalisation-in-st-vincent-and-the-grenadines-now-welcoming-forgien-investor",
      "title": "Medicial Marjiuana Legalisation in St.Vincent and the Grenadines Now welcoming Forgien Investor",
      "body": "![](https://cdn.steemitimages.com/DQmazcRuUz1ggF1oj2vWg3i4w7eRCxZu3xgeLcGhu7UsPL4/image.png)\n\nKINGSTOWN, St Vincent — St Vincent and the Grenadines (SVG) is on a path to establish a modern medicinal cannabis industry. An attorney specializing in legislative drafting, Petrona Sealey-Browne, has provided support to the initial consultative process on some possibilities regarding the crafting of a homegrown piece of legislation to establish the industry and to address ancillary matters.\n\nSVG has historically been regarded by some neighbouring islands as the exporter of cannabis illegally. The globally evolving medicinal cannabis industry has provided a lucrative opportunity for producers, manufactures and exporters to rethink environmentally unsustainable methodologies and embrace practices throughout the value chain that have the potential of benefiting all stakeholders.\n\nThe issue of deforestation from cannabis mountainside cultivation has negatively impacted on downstream activities; habitats for many endemic species; and has proven to be the major cause of significant landslides along the island’s mountain ranges. Local, regional and international entrepreneurs have shown a keen interest in the establishment of investment in both production and marketing medicinal cannabis.\n\n![](https://cdn.steemitimages.com/DQmZ43QBHzdiDYQkPYBtEuU7PnsV72qgWdAyArmWkS6SwFk/image.png)\n\n\n![](https://cdn.steemitimages.com/DQmPsgQ2NAM3BSMrgS5MRoWF56nPai33uL18EtJsvnksxmv/image.png)\n\n\nSaboto Caesar, SVG’s minister of agriculture, forestry, fisheries, rural transformation, industry and labour and chair of the National Medicinal Cannabis Industry Committee highlighted that the first overall objective is the establishment of a medical industry which will explore not only extracts from cannabis but also other plants which possess medical properties.\n\nWhen asked what exactly the legislation will look like, Caesar noted; “I do not wish at this point to preempt the legal advisors and comments which will emanate from consultations on the issue, but will note that the quest is to establish a thriving medicinal cannabis industry with equity for all stakeholders, reflecting both the social and environmental responsibility needed.”\n\nThe issue of medical cannabis has risen in importance over the last decade for discussion in the hemisphere with the United States and Canada blazing the trail on developing Industries in different states and provinces. Meanwhile, recent signs of a policy shift by the new US administration may lead to a freezing of investments in an already flourishing legal cannabis industry for at least 29 US states.\n\nIt is anticipated that there will be a widespread consultation over the upcoming months on the subject matter of what will be the best platform for a medicinal cannabis industry in SVG. These discussions will address the decriminalization of the use of cannabis for medicinal purposes in exceptional circumstances.\n\nOther issues to be addressed includes the establishment of an eligibility criteria identifying the diseases and medical symptoms for which access to medicinal cannabis by a patient may be authorized by a medical doctor; the provision of the procedure for registration and regulation of medical doctors who would wish to authorize the use of medicinal cannabis in relation to their patients whose diagnosis fall within the eligibility criteria; and the prescription for the role of the medical doctor in managing the use of medical cannabis by patients.\n\nSVG with the aid of local farmers and foreign investors can become the epicenter of the Caribbean’s medical cannabis industry. The global medical cannabis market is expected to reach a value of US$55.8 billion by 2025, and the cannabis industry as a whole is expected to outpace jobs in manufacturing by 2020. Europe is set to become the largest cannabis market in the world within the next five years with a market of over 739 million people, and a healthcare spending of €1.49 trillion.",
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      "title": "Post Brexit Caribbean Investment Sectors - St.Vincent and the Grenadines - Invest SVG",
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      "title": "Post Brexit Caribbean Investment Sectors - St.Vincent and the Grenadines - Invest SVG",
      "body": "Export Development\n\nSt. Vincent and the Grenadines is endowed with a number of small and medium sized local entrepreneurs with export-ready products and capacity. To facilitate the development of exports across the various sectors, Invest SVG provides access to training that assists with branding, market access, food safety and quality standards, packaging and labelling, and financing options.\n\nARE YOU READY TO EXPORT?\n\nIf you plan to expand the footprint of your business beyond the local market, it is important to recognise that success in doing so is not down to a magic formula. Conduct a quick self assessment of your business – utilising the questions below – for an indication of your readiness to engage the regional and international market-place OR whether you need to devote more time and resources before committing to export. CONTACT INVEST SVG!\n\n    Are you prepared to devote additional time, effort and resources that will be required to become a successful exporter?\n    Has your research into the market uncovered existing competitors and ensured that you will be able to be comparatively competitive in terms of pricing and quality?\n    Has demand for your product been strong in the market/country/region that you are targeting?\n    As demand increases, will you have adequate resources: financial, human, Infrastructural as well as a business plan to manage your growth?\n    Have you gone through the process of assessing any tariffs, duties or charges that will affect the price of your product in your target market?\n    Have you assessed the standards necessary for your products and/or services to enter your target market?\n    Do you have surplus capacity or the flexibility to expand production quickly if export orders are obtained?\n    Are you able to identify unique features and qualities of your products and services that will enable you to exploit overseas market opportunities?\n    Can your products or services be modified to accommodate overseas market requirements if necessary?\n    Have you factored transportation costs, packaging, labelling and pricing into the feasibility of exporting your product or service?\n    Has demand for your product been strong in the market/ country/ region that you are targeting?\n    Has contact been made with key people? [These include: banker, forwarder, lawyer, accountant, export packer and insurance agent]\n\nIf unsure about any of the above, seek professional business advice FIRST before making any commitments.\n\nEXPORT DEVELOPMENT INCENTIVES\n\nEnterprises benefiting from tax and duty concessions under the Fiscal Incentives Act are accorded partial relief from income tax chargeable on the profits earned from exports. This provision becomes operative as soon as the enterprise’s tax holiday expires and lasts for 5 years. The percentage allowance is the same as the rates of Rebate of Income, as above.\n\nOther benefits under the Export Development Incentives include:\n\tRepatriation of profits\n\tExemption from capital gains tax.\n\tWorking capital advances for the purchase of inputs and raw materials under the Export Credit Guarantee Scheme (ECGS).\n\nAssistance to Small/Medium Size Manufacturers:\n\nUnder the Industrial Incentive Credit Programme facilitated through the Ministry of Telecommunications, Technology and Industry, small to medium size manufacturers can benefit from consumption tax relief as well as an entitlement to 90% write-off of the outstanding arrears of local consumption tax. The Industrial Incentive Credit is not an amount paid in cash, but is an allowance that can be deducted against future consumption tax payable. This credit is granted annually.\n\nThree sub-sectors were targeted to benefit initially from the Industrial Incentive Credit. These are:\n\tAgro-Processing and Pasta\n\tFurniture\n\tIce Cream\n\nAccess to this incentive credit is not automatic. Manufacturers would be required to:\n\n    Submit completed application form and audited financial statements\n    Have annual sales of up to EC$250,000 (qualifying firms will receive a credit equivalent to 100% of the local consumption tax payable on the first EC$250,000 in annual sales). Firms with annual sales of EC$50,000 or less would not be required to provide financial statements, but must provided some form of evidence of its operations, for example, tax returns\n    Fulfil all their statutory obligations, such as payment to the NIS and records of PAYE deduction for workers\n\nExporting To The EU Under The EPA Agreement\n\nThe European Union’s Economic Partnership Agreements (EPAs) are trade and development agreements that are negotiated between the EU and the African, Caribbean and Pacific (ACP) partners engaged in regional economic integration processes. The mandate of the agreements are essentially that of utilising trade and investment to reduce poverty, and encourage sustainable development in all states that have signed on to the agreements. The initiative intends to shift the focus from commodities to higher value products and services. EU markets are, therefore, open to exports from St. Vincent and the Grenadines.",
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