Basseterre, St Kitts and Nevis: Prime Minister Dr Terrance Drew addressed the finding of an internal review of the CBI Programme during a Sitting of the National Assembly on Tuesday. As the programme completes its 40 years, he aimed to continuously enhance it for betterment of the nation.
PM Drew, who is also serving as a Minister for National Security, Immigration and citizenship revealed a full report of the revenue generated by the Citizenship by Investment Programme, and he also shared his vision and measures to foster the sustainable living standards.
Since the launch of the programme in 1984, the country has successfully provided the citizenships to the applicants who fulfilled the requirements of due diligence. They were issued a certificate of registration as a citizen. Then, under the Citizenship by Investment Programme, which is also referred to as CBI, they were provided with a Nevis passport.
The CBI Programme has completed 40 years of successful journey, which contributed to the overall development of the twin-island Federation.
Further, the prime minister revealed that in the beginning, the programme was projected to allow individuals to purchase a second home in the country. Fortunately, the government received a positive result.
Therefore, they planned to expand the programme, which offered an opportunity for the investors to invest in St Kitts and Nevis.
He expressed his delight for all the officials of the administration who are working tirelessly and diligently to enhance the CBI Programme since the Labour Party assumed the office.
While appreciating the commendable work of the current Foreign Minister, Dr Denzil Douglas, he said that the nation has experienced remarkable growth under his assistance. The revenues generated by the CBI Programme were used to develop infrastructure, bring advancement in the education sector, and hired new teachers.
The contribution of Dr Douglas in building the two new hotels, Park Hyatt and Kittitian Hill, has heightened the tourism sector in the country.
The government of St Kitts and Nevis is celebrating the 40 years of the CBI Programme and aims to provide a sustainable living standard to all its people.
Additionally, he criticized the previous government, which was unable to seek advantages or benefits from the revenues generated by the CBI Programme and shared that such investments could be used to enhance infrastructure and overall development of the nation.
PM Drew also shed light on the applicants who were granted citizenship under the CBI programme. While criticizing the prison project, he said that it is one of the major projects that was approved by the previous ruling party.
