The harmonization of Citizenship by Investment (CIP) programs among Organization of Eastern Caribbean States (OECS) member islands has long been heralded as a crucial step towards regional cooperation and economic advancement. However, Prime Minister Philip J Pierre’s recent refusal to sign the Memorandum of Agreement (MoA) aimed at achieving this goal has sparked controversy and drawn criticism from various quarters.
The harmonization of CIP programs within the OECS holds immense potential for promoting investor confidence, ensuring program integrity, and maximizing the collective benefits for member states. By standardizing eligibility criteria, due diligence procedures, and investment requirements, harmonization aims to create a level playing field that fosters fair competition and enhances the attractiveness of the region as a destination for investment and economic citizenship.
Prime Minister Pierre’s refusal to sign the OECS CIP MoA represents a significant setback to regional cooperation and integration efforts. While citing concerns about the potential impact on Saint Lucia’s sovereignty and economic interests, Prime Minister Pierre has effectively opted out of a collaborative framework that could have brought tangible benefits to the country and the wider OECS region.
Fresh Start for Housing Projects Halted by the Philip J. Pierre Administration
In case you haven’t heard, the Philip J. Pierre-led administration has awarded contracts to Fresh Start Construction to recommence the Talvern and Choc Housing Projects. These projects were halted when the administration assumed office in July 2021. Upon taking office three years ago, the Pierre administration immediately stopped two major housing projects initiated under the previous United Workers Party (UWP)…
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by Content Manager