ROSEAU, Dominica – The Commonwealth of Dominica continues to make significant strides in infrastructural projects across the island with no sign of slowing down. From building thousands of resilient homes to its first international airport anticipated to transform the island’s future, Dominica is proving the benefits of pulling from its own resources to bolster its development.
During a weekly government programme, prime minister Roosevelt Skerrit provided updates on the ongoing works. He spoke about the rehabilitation of roads and bridges as well as construction on a primary school that is nearing completion. The prime minister also revealed that the highly anticipated state-of-the-art Marigot Hospital is finalised and awaiting equipment and furniture.
“I call on citizens to look with hope on developments that are already on the way in this country,” prime minister Skerrit said. “This is a working government […]. We continue to create opportunities for every single Dominican.”
He also briefly touched on the construction of homes in various parts of the island. Dominica’s commitment to strengthening its housing sector has been one of its biggest projects to date. The island aims to construct several thousand homes for its population as part of its mission to become the world’s first climate-resilient nation.
The prime minister also briefed citizens on the current work on Dominica’s international airport, another expansive project for the island. Once completed, the airport will not only encourage greater tourism but will also support Dominica’s economic growth by encouraging business and trade. Local resources fund both the airport and the housing initiative – namely, the country’s widely successful Citizenship by Investment (CBI) Programme.
The CBI programme has been a critical tool for Dominica’s development and as a means of rebuilding, particularly after hurricane Maria in 2017.
“When the hurricane came, we had over 300 million dollars saved from CBI funds. That’s what we used in large measure to address the immediate challenges of hurricane Maria,” prime minister Skerrit noted during the government programme.
Established in 1993, the programme has supported affluent families in becoming citizens of the nation once they either invest in a government fund or purchase pre-approved real estate properties. Dominica’s CBI programme is one of the longest-standing options on the market and continues to be ranked as the world’s best by the annual CBI Index report conducted by experts at the Financial Times’ PWM.
Those who successfully pass the necessary vetting checks gain access to greater travel and business opportunities with visa-free or visa-on-arrival access to over 160 countries. They also gain a lifelong second home in a country with a currency pegged to the US dollar, where financial prosperity is ripe.
Source: CS Global Partners