Business View Caribbean - June 2024

“The manual outlines the processes, costings, and consents required from the various stakeholders involved in the investment process,” he explains. With around 19 players, including customs, physical planning units, the Inland Revenue Department, and the National Insurance Scheme, the manual provides a clear, concise snapshot of the necessary steps and costs. PRIORITY SECTORS AND INFRASTRUCTURE COLLABORATION Grenada’s economic prospects are being buoyed by diverse sectors attracting foreign investment, with tourism, renewable energy, and health and wellness at the forefront. These sectors, supported by robust government policies and incentives, are crucial to the island’s development. Theodore identifies tourism as a significant economic driver, particularly in niche segments. “We continue to see serious attraction in tourism investments, particularly in boutique hotels,” he 47 BUSINESS VIEW CARIBBEAN VOLUME 11, ISSUE 06 GRENADA INVESTMENT DEVELOPMENT CORPORAT ION (GIDC)