Richardson makes “financing the economy” a major goal

POSTED: 04/2/12 3:43 PM

St. Martin – Several areas for the development of the Collectivite were highlighted by the President of the Collectivite Alain Richardson during the policy statement at his inauguration which was held at the Hotel de la Collectivite. Revamping the economy and finding the finances for development are key areas in the plan.
“Financing is the core element for our economic emergence. In the analysis of the blockages to economic development, the major factor which emerges is that the financing of the economy by the banks, remains very weak. The financing of companies and development is thus one of our concerns,” Richardson said.
Later he’d add, “We think that a company, once created, enters the territorial economic inheritance and does not have to be abandoned with its financial problems. The government will set up a development fund to stimulate and support the creation and the development of the companies but also to save those in difficulties and proven to be of economic strong potential.
In the short run, the development of small and average infrastructures will be supported by the installation of a device of microcredit with an aim to improve the mobilizing of alternative financing.”
“Beyond the identification of the carrier sectors, our action aims at the fertilizing of viable economic projects initiated by credible promoters and directed towards markets of growth. The pursued objective is to support the development of TPE- TPI and PME/PMI flexible, innovative, producing of goods and services with strong added value, creating of employment,” the new president also said.
Attraction of overseas investments
Richardson said the new government will shortly proceed to the development and implementation of a strategy to attract direct foreign investments.
“This strategy will imply a flexible tax device, more actions of communication and promotion in the prominent buy valium paypal markets of investment but also an accompaniment of the investors who will establish themselves on the territory of the COM of Saint Martin. In defined sectors, St-Martin must become again foreign investors’ friendly.”
“Parallel to this strategy of economic opening, our efforts will also relate to an active lobbying to reinforce the positioning of our powerful companies in the sub-region and to support their best insertion in the global network of business, by means of organizing economic missions within the greater Caribbean Region,” he also said

Financing the government program
When it comes to financing of the government program Richardson stated, “If an exhaustive evaluation is not made yet, I can guarantee you that all the actions enumerated above will be part of the evaluation of the strategy of accelerated growth and sustainable development which remains the principal working arm of our government action from the point of view of the implementation of our political program.”
Later he’d add, “To take up the challenge of a robust growth that will be respectful of the principles of sustainable development, we will reinforce measurements of promotion of the values of rigor, probity, transparency and effectiveness in the management of public affairs.”
He noted that the diversification of the funding sources of the economy and the optimization of the mobilization of the budgetary resources will constitute a factor that will make it possible for the Government to meet the financing needs of the country’s development. This strategy will constitute the instrument of reference in the financing of the sustainable development of St. Martin. The capacity to make concrete the implementation of this program rests naturally on the solidity of our economy fundamentals and the control of the management of the budget of the territory.”

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