Search

46.13. Saint Vincent and the Grenadines recognises the many countries and organisations that have partnered with the National Emergency Management Organisation (NEMO) in the relief operations to affected households and communities during this difficult period. Specific interventions to mitigate and reduce hardships encountered by families and communities post the La Soufriere eruptions and the passage of hurricane Elsa were identified and supports from UN institutions such as The United Nations Global Appeal, the World Food Programme (WFP), the United Nations Office for Disaster Risk Reduction (UNDRR) besides other regional and international institutions were critical in addressing these challenges.

47.4. Despite the adverse impact of several natural disasters, agriculture continued to account for some 8.0% of GDP during the review period, largely due to continued output diversification. The manufacturing sector remains relatively small, with an average GDP contribution of 5.2%. The agricultural sector became heavily dependent on public support in order to cope with the disadvantages posed by the cataclysmic eruptions, which followed three months later by hurricane Elsa. These two events, weakened domestic demand, caused difficult access to credit, and exacerbated already high energy, transport, and telecommunications costs.

47.5. (...) It is expected that services will remain a dominant contributor to GDP over the foreseeable future as tourism, travel, financial and real estate services continue to rebound from the throes of the triple disasters. The ongoing reconstruction and rehabilitation of homes following the eruption of the La Soufriere Volcano coupled with the Government's plans for seaport development are likely to sustain this momentum.

48.1. (...) The negative impact of climate change has resulted in increased imports of fossil fuel, particularly diesel, to compensate for mass reduction in the production of hydro electricity. (...)

48.10. Invest SVG is the national agency charged with the promotion and development of the nation's investment portfolios. It is the official investment agency of the Government of SVG , which ensures the country can achieve sustainable economic development through investment promotion, export development and policy advocacy. Invest SVG focuses on attracting FDI in these seven main sectors: Tourism Development, Agro-processing, Renewable Energy, Light Manufacturing, International Financial Services, ICT and the Creative Industry. (,,,)

48.12. The sectors already identified as priorities by the Government and adopted by Invest SVG, namely:
(...)
• Renewable Energy – geothermal; solar; wind; hydro;
(...)

48.14. Stronger resilience and capacity are the major guideposts towards both economic growth and social progress. The region can make much more of its green potential, with power generation topping the list. Improving regulation and reducing red tape can foster new, home grown economic dynamism. Tourism, digital services and the sustainable ocean economy also offer untapped potential. (...)

49.11. Work is ongoing towards the development of a National Export Strategy which is intended to achieve the objective under goal 3 of the NESDP (2013-2025) that speaks to reengineering economic growth. The current draft of the NES includes measures to address the following:
• Revitalising the agricultural and fisheries sectors devastated by the cataclysmic event;
(...)

49.19. Saint Vincent and the Grenadines' high exposure to natural disasters aforementioned in Section 2 above, particularly in the years 2020 and 2021, coupled with the negative impacts of exogenous forces, necessitated government's direct intervention and support for critical sectors and overall livelihood of its people. Support programmes in agriculture mainly for feeder roads and farm rehabilitation are currently being implemented to resuscitate this critical sector.

49.21. A number of legislative and policy initiatives were designed to enhanced fiscal prudence, good governance and climate resilience. These measures included a Fiscal Responsibility Framework, laws related to tax administration, regulations governing the operations of state-owned enterprises, supervision of the contingencies fund, and new planning procedures.