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4.1. (...) The agriculture sector is predominantly composed of small farms. In addition to scarce resources of land and water, as well as adverse natural conditions (e.g. hurricanes), other challenges facing the sector include limited resources to enforce agriculture policies, limited investment in the sector, disorganized markets, and limited access to credit for producers. Climate change poses continuous risks to Grenada's agriculture and fisheries sector.

4.13. (...) According to the authorities, some of the problems the industry faces include illegal fishing activities and inadequate access to transportation.

4.16. The new regulatory regime opens up the power generation segment for competition from independent power producers (IPPs). An IPP must apply for a licence from the PURC when it intends to generate and store electricity and sell it to the electricity network. According to the Electricity Supply Act, priority to grant an IPP licence must be given to applicants using renewable energy, or to applicants who "would significantly reduce the cost of electricity to consumers, the carbon footprint of Grenada, and Grenada's dependence on imported fossil fuel". (...)

4.66. (...) According to the authorities, emphasis is being placed on developing community tourism and niche tourism products such as diving, eco-tourism, and a "total spice experience".

4.67. In November 2021, the Ministry issued a National Sustainable Tourism Development Plan. In the Plan, the authorities have a vision to "create a regenerative tourism industry that empowers Grenadians while providing an authentic and unique experience for all".[72] Therefore, being inclusive and sustainable are identified as the policy objectives for the tourism sector. In order to materialize the vision, the authorities designed an action plan containing a series of initiatives, and they estimate that USD 22.8 million of investment is needed to complete the action plan.
[72] Government of Grenada (2021), National Sustainable Tourism Development Plan.

The Government of Grenada envisions that the "New Economy" will comprise inter alia a world class tourism, yachting and marina destination, complemented by efficient business, finance and information technology services, an efficient light manufacturing sector, a well-diversified agricultural sector focused on "value added" products, a dynamic oil and gas and renewable energy sector, and a highly efficient agro-industrial sector cluster dedicated to oils and flavour extraction for health, food, cosmetic and pharmaceutical applications.

The Ministry of Economic Development, Planning Trade and Cooperatives also coordinates the work of the Cabinet appointed National Trade Policy Coordinating Committee (NTPCC), which comprises representatives of Ministries and Departments with a bearing on trade policy, as well as representatives of the Private Sector and Civil Society. The NTPCC informs the development of trade policy and adopts positions for trade negotiations with respect to market access for goods and services, government procurement, intellectual property rights, investment, labour market mobility, trade and labour, trade and environment, trade facilitation, dispute settlement, among others. (…)

The Treaty establishes the OECS economic union, making possible the creation of a single financial and economic space within which goods, people and capital move freely, monetary and fiscal policies are harmonized and countries continue to adopt a common approach to trade, health, education and environment, as well as to the development of such critical sectors as agriculture, tourism and energy.

The Strategy highlights the following key areas for Aid for Trade interventions at the CARICOM level:
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4) Caribbean Renewable and Alternative Energy Roadmap: Developing a regional bio energy strategy, implementing a strategy for promoting solar cooling technology, and establishing a financing mechanism for micro, small and medium sized enterprises;

Downside risks to the country's growth projections include external shocks such as; natural disasters, escalating fuel and oil prices and moderate increases in food prices.