Hon Fahie wants OECS countries less dependent on foreign investments
Hon Fahie was at the time addressing a panel discussion on ‘Transformation in the OECS’ venued at the Evelyn Matthias Ballroom, Royal Caribbean Resort in Anguilla.
Speaking to those gathered in attendance, the Virgin Islands Opposition Leader, said, “the OECS countries must see themselves in partnership.”
He observed for panelists “right now there is a mindset that international investors make an economy, but that is wrong thinking…The people of the Caribbean are the investors in the economies.”
He said “they are the ones who engage in small business activities to keep it running…They are the ones who acquire education to keep the economy going…They are the ones with long term interest in the economy.”
Hon Fahie was adamant that too often “we as locals overlook the ability of our own people to build our economy.”
Competing Economies
Leaders across the OECS have the opportunity to truly work together he said and argues that “instead of competing against each other, there are opportunities to promote the OECS economies as one product.”
Citing practical examples, Hon Fahie drew reference to the notion that the Virgin Islands (VI) is the hub for yachting and sailing.
He suggested that “instead of training for maritime in places like Miami and Texas, students of the region can come to the BVI and learn.”
According to the VI’s Opposition Leader, this would be an opportunity to expand the ambit of the H. Lavity Stoutt Community College (HLSCC) and that the VI has the “best training ground from sailing or captain licenses.”
He said, too, St. Kitts and Nevis is home to a Veterinary School, “that can be the hub where OECS students can go, if they love animals, rather than going internationally.
OECS Economies
According to Hon Fahie, “Anguilla can be the hub for hospitality training on travel and leisure for those students who want to get degrees in tourism or even environmental management…In other words Ordinary people can build OECS economies through recognising the qualities that each bring.”
He told those in attendance “If we have a peopled-focus OECS economy, then investment would be easy as people would see their stake in building the economy—whether building their own economy or investing in other regions of the Caribbean.”
Hon Fahie observed that “we have products that we don’t even push to each other…People have to be a part of the Caribbean trade economy, but we have to make it affordable for each other and show how working together and not competing against each other is essential to developing strong economies.”
The VI Opposition Leader was joined by Honourable Victor F. Banks (Chief Minister of Anguilla); Retired Justice, Don Mitchell QC; Hon. Dean Jonas (Minister of Agriculture, Antigua); Mr. Fabian M. Fahie (Retired Economist, Anguilla) and Chairperson: Mr. Wycliffe C. Fahie.
23 Responses to “Hon Fahie wants OECS countries less dependent on foreign investments”
Are you going to create jobs for every youth leaving school? the answer is no! we must have investors because to do not manufacture, export and we have no industrial company..
Boss change your direction and mind set.
We need foreign investors in the rest of the OECS
Thus, the region must work cooperatively and collaboratively to used it resources for the benefit of the region and its people. As noted earlier, regional countries/investors investing in the region creates a multiplier effect in the regional economy. For example, efforts should be expended to reduce the regional food import bill; this effort would also improve food security. In 2011, Caricom food import bill was aproximately $4B; less than 15% of food was sourced in the Caribbean. Nonetheless, increased regional investment would be a heavy lift that would require much functional cooperation.
Moreover, the West Indies Federation (VI sat it out), a group of 10 regional countries, lasted from 1958-1962. Parochial and freedom of movement issues........etc among some member countries doomed the effort. Jamaica started independent march that was followed by Trinidad and Tobago, Barbados.............and ended with St. Kitts, Nevis and Anguilla; Anguilla eventually breakaway from St. Kitts and Nevis. IMO the region would be off politicallly, economically.......etc if the Federation had survived; individual regional countries got independence with a mix bag of results. Unification has served the US, Canada, UK, EU and Australia relatively well so why can’t it work for the Caribbean?
you, play a part, contribute, and you will see any of their good and bad. but DON'T allow them to run the show.
Its your region and countries. Do good for yourselves. don't trust them, trust #1.
Unfortunately though, our laws and policies are not set up to assist ANY non Belongers, Caribbean or otherwise. We also have a history of bashing Caribbean cousins so that dialogue would have to change a lot.
Fundamentally though it’s just too hard to do business whether local or foreign in BVI. Infrastructure remains awful, telcos expensive, business licences and hiring takes way too long and too open to political and racially-motivated meddling
The Region should invite companies from Trinidad and Tobago to establish companies that will provide employment for nationals in the respective countries and boost their economies. Trinidad is spreading its wings in many countries as far as from Jamaica to Guyana. For example Republic Bank, CARIB beers, Busta soda, cement and the list goes on are Trinidad based i
Hon. Fahie is on the right track and I am waiting anxiously to welcome him as our next Premier. I want to urge the people of the B.V.I not to place their confidence on foreign investments because when they invite the China Buss on the Road to the territory, they will not wish to see the results of that initiative.
China has seven trillion dollars to invest, however, when they invest they will ensure they will have room for their people to come and reside here and own businesses.