St. Kitts and Nevis is actively advancing its economic diversification and sustainability agenda, with Prime Minister Dr. Terrance Drew inviting Qatari investors to collaborate on this transformative journey. In a recent interview with Doha News, Dr Drew emphasised the Federation’s ambition to become the world’s first sustainable island state, highlighting significant opportunities across key sectors.
Reflecting on tourism, the Prime Minister stated, “I have come to recognise that there are efforts to diversify the economy, which means investments locally and internationally as well. Here in St. Kitts and Nevis, situated in the beautiful Caribbean, one of the most touristic regions in the world, there is much opportunity for real estate investment, especially in the tourism sector.” He pointed to the nation’s natural assets, adding, “We have beautiful beaches, beautiful shorelines that can be developed to meet the international market as we expand our tourism product.”
Dr. Drew underlined the “tremendous opportunity” for Qatar-Caribbean partnerships, particularly in tourism and renewable energy. He referenced the country’s strategic location in the Caribbean, a premier tourist destination, which makes it ideal for real estate development and tourism expansion. The Prime Minister highlighted current investments such as Safe Harbour’s plans for Christophe Harbour.
“We now have an investment from Safe Harbour, which is owned by a company called Blackstone, which is going to invest heavily in Christophe Harbour, which is to be developed into a major super yachting destination in the Caribbean,” he said. He also noted the vast availability of land surrounding Christophe Harbour, stating, “There are acres and acres of land available for real estate development. This is an area in which I think businessmen in Qatar can look to in terms of investing in the Caribbean.”
Beyond economic prospects, Dr. Drew emphasised the shared values between St. Kitts and Nevis and Qatar, particularly regarding climate action, sustainable development, and international cooperation. “Both nations are members of the United Nations and share common goals in addressing climate change and promoting sustainable development,” he remarked.
Prime Minister Drew particularly stressed the vast potential in renewable energy. “The other thing they can invest in is in the energy sector. It may not be oil and gas, but there are other opportunities such as geothermal,” he explained. “We have, I think, the largest known reserve that is accessible for geothermal in the region.” He elaborated that geothermal energy arises from volcanic activity, producing heat capable of generating power. He further outlined the country’s renewable energy resources: “We also have solar energy. We have wind energy available. So, in the renewable energy space, we have tremendous opportunity.”
A cornerstone of the country’s sustainable development plan is the establishment of a Sovereign Wealth Fund (SWF). Dr. Drew explained that the SWF will be instrumental in financing critical sectors, including ports, infrastructure, the financial sector, hospitality, tourism, and energy. Additionally, the fund will feature a dedicated arm to manage natural disaster responses, securing resources to address the increasing risks posed by climate change. The SWF is regarded as a vital tool to accelerate the Federation’s progress towards becoming a sustainable island state through targeted strategic investments.
Stay informed with the latest news and updates from SKN Source! Click here to join our WhatsApp channel and get updates straight to your mobile. Don’t forget to follow us on Facebook for more stories and insights!
Be the first to comment on "St. Kitts and Nevis Targets Renewable Energy, Tourism Partnership with Qatar"