To boost private sector investment in fishing, the Government has taken a decision to “accord a 100 percent duty-free concession to Vincentians purchasing fishing vessels.
Prime Minister Gonsalves made the announcement on Saturday at the 39th Independence parade at Victoria park.
He said this will unfoundedly stimulate more growth in the fishing sector.
Gonsalves at present the pirogue not the big fishing vessels which use outboard engines, the owners get 75 percent duty free concessions.
Because of our seascape, we have a significant number of people who are engaged in the fishing industry.
Prior to the opening of the Argyle International Airport on February 14, 2017, Minister of Agriculture Saboto Caesar said we did not have a direct link to international markets, to be able to move fish and fish products from Saint Vincent and the Grenadines.
However, with the Argyle International Airport and the direct link to international markets, where we now have the airlift capacity for 110,000 pounds [50,00 kilograms] twice per week.
The government of Saint Vincent and the Grenadines has moved towards the privatization of the fishery centers.
In several of these centers, the local investors who would have obtained the leases have already paid their investment by having joint ventures with foreign direct investors.