Dominica Grants Concessions to Ease Private-Sector Investment

The Cabinet of Dominica, under the chairmanship of Prime Minister Roosevelt Skerrit, has approved licenses granting concessions to a number of private sector entities under the country´s Fiscal Incentives Act.

According to a recent press release, the government grants concessions in the form of tax holidays, exemptions and waivers to private sector entities in an effort to stimulate investment and boost productivity, income and employment in Dominica.

Specifically, the Cabinet has approved a licence granting concessions to a Dominican under the Hotel Aid Act and the Income Tax Act for the construction, establishment and development of an apartment hotel at Picard, Portsmouth.

The Cabinet has also granted approval of a license to a Dominican national for the construction, establishment and development of an apartment hotel at Picard, Portsmouth.

The Cabinet has also approved granting concessions to an individual for the construction, establishment and development of a wellness tourism resort at Belles.

In the same breath, the Cabinet has also approved the granting of a license granting concessions to a dive and water sports service company under the Fiscal Incentives Act and the Consumption Tax Order.

The granting of concessions is reportedly part of an ongoing effort by Government to provide assistance to the private sector to stimulate growth and prosperity in the country.

The Government says it is convinced that economic growth levels of 3 percent and higher can only be sustained through Government´s Public Sector Investment Program (PSIP) and higher levels of private sector investment, local and foreign.