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Invest in Business Process Outsourcing

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Presentation on theme: "Invest in Business Process Outsourcing"— Presentation transcript:

1 Invest in Business Process Outsourcing
Cover Page Invest in Business Process Outsourcing

2 Strategically located
Saint Lucia – largest economy in the OECS with a GDP of 1.1 Billion Tourism-based economy Stable currency – pegged to the US dollar Population of 173,000

3 An ideal destination Investment and lifestyle destination

4 Agenda for growth HOTELS
Double current hotel room stock by 2020 (50% committed) HOTELS International Airport redevelopment Northeast Corridor Highway INFRASTRUCTURE Value-added agro-processing Increase exports to OECS & CARICOM MANUFACTURING ICT Business & Knowledge Process Outsourcing  Artificial Intelligence Shared Services Centre

5 Agenda for growth Quantum Class cruise ships in Dec. 2017 (6000 pax)
Port development in the south Homeporting CRUISE PORTS Cargo port development in the northwest LOGISTICS Offshore and onshore banking FINANCIAL SERVICES THE CAPITAL Castries revitalization

6 Largest economy in the OECS
Quick Facts Area 238 sq. m/ 616 sq. km Capital Castries Time Zone EST+1, GMT -4 Average Mean Temperature 28ºC/82ºF Largest economy in the OECS Population Growth 0.7% (2016) Labour Force 104,637 / 73.4% (2016) Population 173,966 (2016) Unemployment 21.1% (2016) Adult Literacy 72.8% (2010 Census) Currency Eastern Caribbean Dollar (EC$) Exchange Rate US $1 = EC $2.70 Inflation -3.1% (2016) GDP US $1, Billion (2016pre) GDP Per Capita US $8,162.1 (2016) Official Language English Local Language French Creole

7 ICT/BPO in Saint Lucia MODERN ICT INFRASTRUCTURE
INDUSTRIOUS ENGLISH SPEAKING WORKFORCE GDP CONTRIBUTION The sector’s contribution to GDP over the last 10 years average 7.5% MARKET PENETRATION Low market concentration for call centers and BPO TWO MOBILE SERVICE PROVIDERS Digicel and Flow SAINT LUCIA INTERNET EXCHANGE (SLIX) Ensures high speed data transfers, reduced latency, improved routing efficiency and reduced third party costs AVAILABLE FACILITIES Invest Saint Lucia has factory space available at competitive lease rates MODERN ICT INFRASTRUCTURE The fiber ring around the island provides incomparable uptime, sufficient redundancy and dedicated internet access Mandate: “To stimulate, facilitate and promote investment opportunities for foreign and local investors and promote the economic development of Saint Lucia.” We are the main point of contact providing facilitation services from enquiries to after care after establishment. We guide and provide advise to investors throughout the establishing and operating phases of their operations.

8 Saint Lucia Economy (GDP)
The average growth of telecoms over the last 11 years equate to 4.7% Avg. Sector contributions for the last 11 years = 7.5& Source: Economic Review 2016

9 Opportunities in Infrastructure ICT, BPO & Research and Development
Health Care Facilities Clinical Trials and Medical Research Facilities Reputable Offshore Vocational Training Institutions Mobile Application Development Voice & Call Center Operations Business Process Outsourcing & Knowledge Process Outsourcing operations Technology and Hospitality Training Institutions

10 ISL - Your Domestic Advisor
Business expansion Reinvestment Linkages  Manufacturing  Special Development  Tourism Stimulus  Licences Approvals  Business establishment Guidance Key introductions  Site selection ADVISORY   FACILITATION  AFTERCARE  INCENTIVES  Invest Saint Lucia's on the ground support team possesses a wealth of knowledge and local, regional and international experience to assist with business establishment and advisory. Services include: Advisory – guidance on business establishment, introduction to key industry professionals, assistance with site selection Facilitation – assistance with meeting licensing and other approvals Incentives – a number of incentive packages are available for manufacturing, special development areas and tourism investments Aftercare – Assistance with business expansion, reinvestment and linkages to industry

11 Incentives Benefits of Establishing Call Center within the Hewanorra Free Zone Corporate income tax exemption Exemption of customs duties, taxes and related charges No restrictions or taxes on foreign exchange transactions No taxes on dividends No work permit fees for management personnel up to a period of 5 years No import and export licenses No price control

12 Economic Infrastructure
Integrated (Island wide) Road Network Modern Telecommunications Network Goods Distribution Free Zone and Industrial Parks Reliable Electricity and Water Supply International Banking and Financial Services

13 Supporting Policy/Business Environment
Established Commercial Court Public Sector Modernisation Project/e-Government Platform Online Companies Registration System via the Registry of Companies and Intellectual Property National Ease of Doing Business Forum and Task Force Adoption of new PPP approach and ongoing implementation of a National Investment Policy Ongoing incentives reform; amended income tax; VAT threshold and Corporate Tax Reduction

14 A Record of ICT/BPO Success

15 WHY SAINT LUCIA? Strategic geographic location
Free and stable economic and political climate Modern and reliable infrastructure and advanced technology Strong history of attracting and protecting investments Free access to OECS labour pool of 300,000 Efficient regulatory environment Protection of intellectual property and patents Location of the Future (Site Selection Magazine July 2015) Caribbean Country of the Future & Island Economies of the Future (fDi Magazine July 2015 & July 2017 )

16 For more information on doing business in Saint Lucia as well as investment opportunities, please see below:


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