Business View Caribbean | September 2019

54 BUSINESS VIEW CARIBBEAN SEPTEMBER 2019 base of our economy – which are agriculture and tourism. “We have seen economic growth in that regard and right now, for the first time in our history, we will be having the opening of a five-star hotel in October. That is the Cabrits Resort & Spa Kempinski. We had the recent opening of Jungle Bay Dominica, which had been a very highly- recognized eco-tourism hotel and is now back on stream. And we have other five-star hotels that are coming up, including Anichi Resort & Spa, branded by the Marriott International Autograph Collection and developed by Oriental Developers (Caribbean) Ltd. “This will continue to contribute to the growth of our country. And it will have the expected impact to expand and create enterprises that would provide goods and services for these hotels that are, or will be, opening their doors in Dominica, particularly for the provision of fresh foods, such as fish, eggs, vegetables, as well as services, in terms of tour guiding, vending, and craft development. With these linkages, we expect to see even further growth. And my Ministry will play a critical role, as we look at these MSMEs that would either emerge, or expand, or begin to improve their qualities and standards for providing goods and services to the tourism industry – for the new hotels that are being developed.” BVC: What initiatives are you offering to encourage MSMEs? Minister Paul: “Our Ministry offers direct technical and small grants to MSMEs in Dominica, either to start up new businesses – encouraging young people and young professionals, in particular, who have a business idea – or existing businesses that need support. Access to finance is very critical to the development or sustainability of entrepreneurs. For financial year 2018/2019, 342 MSMEs benefited from small grants, of which 56 percent were male, and 44 percent were female. In many cases, small entrepreneurs, especially young people, do not have the necessary working capital, the capacity to meet the requirements pictured Hon. Minister Paul delivers remarks at the closing ceremony