(Jamaica Gleaner) The Dominica government defended its decision to introduce a Citizenship by Investment Programme (CIP), saying that it had contributed significantly to the socio-economic development of the island.
Both President Charles Savarin and Prime Minister Roosevelt Skerrit urged the national community to rally around the programme through which foreign investors are provided with Dominican citizenship in returning for investment a substantial amount of funds in areas identified by the authorities.
“The Citizenship by Investment Programme is one such programme to re-energise the economy, particularly the tourism sector, and should be presented to the world as a national effort, and not as a party’s initiative mired in political controversy,” President Savarin said as he delivered the traditional throne Speech on Tuesday at the start of a new parliamentary term.
“Let us, therefore, try to understand what that programme is, how it operates, the benefits to the economy, and to the opportunity of eradicating poverty that it presents,” Savarin said, adding “if there is need for refinement, let us, as a people, and as a Parliament, agree on such improvements that could be made to improve the programme as time progresses”.
Skerrit, in presenting the 2016-17 national budget, told legislators that there were people who were “deliberately seeking to mislead the citizens of Dominica” on the CIP, re-stating the much-needed funds provided by the programme for projects on the island.
“This includes the geothermal development project, the counterpart financing for Lots one and two Canefield-to-Melville Hall project and in more recent times, many of the post-tropical storm Erika rehabilitation works, including the rehabilitation of Douglas-Charles airport,” he said.
