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Green Growth Investment in St.Vincent and the Grenadines Presented by: Ellsworth Dacon October 6 th 2011
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Outline About St.Vincent and the Grenadines Investment Opportunities Current Situation Stimulus for Economic Growth Why SVG END!!
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Location of St.Vincent and the Grenadines St.Vincent and the Grenadines
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www.divestvincent.com/Maps.html
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St.Vincent and the Grenadines 32 Islands Population approx. 110,000 Capital – Kingstown GDP per capita USD 10,600.00 Low Inflation Rate Growing Opportunities
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Investment Opportunities International Financial Services Information & Communication Technology Tourism Agro-business Light Manufacturing Creative Industries Renewable Energy
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Current Situation SVG heavily dependent on imported petroleum products. (96% petroleum and 3% hydro) State owned utility VINLEC is sole provider of electricity Installed Capacity 49MW (11.5% hydro) Average Cost of Electricity is USD 0.38/kWh (fuel surcharge 51%)
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Problem Statement Energy Prices negatively affect economic activities.(tourism sectors, food processing and gastronomy) By 2015 in a BaU scenario energy consumption will increase at a rate equal or greater than GDP growth Unsustainable Economic Growth
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Green Growth Shift Vicious Cycle Poverty Unsustainable Economic growth Increasing Dependency on Fossil Fuel Global Warming and Climate Change Virtuous Cycle Energy Security Sustainable Economic Growth Renewable Energy & Energy Efficiency Climate Action
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Stimulus for Economic Growth 1.Renewable Energy Opportunities –Hydro Rehabilitation and expansion New development –Wind Eastern side of mainland Grenadines - Solarvoltaic –Geothermal La Soufriere 2.Regulation and Policies to promote Sustainable Energy. 3.Seek Financial Instruments to promote Sustainable Energy. –
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Why SVG Political Stability Economic Stability Peaceful environment Desirable housing High educational standards Good Support framework
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Invest in SVG Invest SVG 2 nd Floor Administrative Building PO Box 2442 Kingstown St.Vincent and the Grenadines email: info@investsvg.cominfo@investsvg.com website: www.investsvg.comwww.investsvg.com
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Invest SVG Thank You
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