Dominica Secures $27M Deal with Japanese Firm for Rehabilitation of Fisheries

LONDON,June 18,2021 -- The Government of the Commonwealth of Dominica,through the Ministry of Blue and Green Economy,Agriculture and National Food Security,signed a contract to rehabilitate buildings and equipment at fisheries in Roseau and Marigot. The venture will be accomplished through a EC$27 million grant provided by the Japan International Cooperation Agency. The project is expected to commence in July 2021,and completion of construction is scheduled for August 2022.

The project's first phase will involve demolishing damaged structures,followed by rebuilding,waterproofing,and purchasing equipment. Honourable Fidel Grant,the Minister of Blue and Green Economy,Agriculture and Food Security,said that the joint feat between the Dominican government and the Japanese firm would benefit everyone in Dominica.

"Investing in one sector of the island's economy impacts everyone in Dominica. It's a domino effect of positive change for the people of this nation," he told CS Global Partners. "This venture will not only directly help fishers and fish vendors,but during construction,create employment opportunities for local labourers and contractors. Our restaurants,hotels and resorts will be direct beneficiaries,as storage facilities will ensure constant availability of fish. Visitors to the island can rest assured that their fish is fresh and local. The government is very happy about the start of this project," he added.

In April,the ministry signed contracts valued at nearly EC$4.5 million with two regional companies to procure agricultural tools,equipment and supplies for distribution to crop farmers. Both endeavours are designed to help those who work in the agricultural sector,like farmers and fishers affected by Hurricane Maria,to restore their livelihoods and adopt climate-resilient practices.

Another income sector that helped aid the island's agricultural recovery is the Citizenship by Investment (CBI) Programme. CBI confers second citizenship to those who invest and is a route many take to attain greater travel mobility,business opportunities and a Plan B in times of crisis. Main applicants who invest USD$100,000 in the government's Economic Diversification Fund can gain full citizenship of Dominica and the right to work,study and live in the country also known as the 'Nature Isle of the Caribbean'.

A 2019 report compiled by PWC stated that between 2014/15 to 2018/19,EC$29.7 million from CBI funds was allocated to support the agricultural and fisheries sector through 32 projects. "Most of the projects were aimed at increased food production and security,which targeted specifically banana,coffee and cocoa plantations. Farmers and fishermen's employment was also boosted through training programmes and economic support," the report said.

Investors can apply individually or as a family and feel secure in being able to pass their new citizenship on for generations to come.

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