Saint Kitts and Nevis Construction Sector Continues To Grow/
The construction sector of the Federation of Saint Kitts and Nevis continues to show growth, Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris said. These positive dynamics served as a growth driver in the first quarter of 2020.
“The construction sector continues to provide employment for many of our citizens and residents. It is the primary source of income for many families. This sector is quite resilient, and my government will continue to make the necessary investments to further enhance that resilience, and transform the economy,” said Prime Minister Harris during the tabling of The Appropriation (2021) Bill, 2020, on Tuesday, December 15 at the St. Kitts Marriott Ballroom.
Prime Minister Harris said the sector grew 1.8 percent in 2019. This “was primarily due to an increase in the contribution of locally financed construction activity coming from the public and private sectors,” he added, noting that projects such as the Rehabilitation of the Island Main Road, “of course, have made significant contributions to achieving the positive growth outturn.”
In addition, the road network is developing and improving, which is essential for building sustainable infrastructure.
Prime Minister Harris said the government has spent 55 million Eastern Caribbean dollars on the project to date.
The development of the region is particularly influenced by the citizenship by investment program, which attracts foreign direct investment. Foreigners can apply for citizenship on the sunny island. The fastest and easiest route to second citizenship in Saint Kitts and Nevis is through the Sustainable Growth Fund, which is currently offering applicants a limited-time offer. Until January 15, 2021, families of up to four people who decide to become citizens need to invest only $ 150,000 instead of $ 195,000. Successful candidates who receive government approval can obtain citizenship in 60 days (via the fast track application process).