August 30th afternoon, Worldway Group exclusively hosted the "Meeting with the Prime Minister of Saint Kitts and Nevis" at the Peninsula Hotel in Hong Kong. Below is the content of the speech by the Prime Minister of Saint Kitts and Nevis.
Thank you all for being here. I would also like to thank the organizers and several guests today:
I would like to thank Dr. Winner Xing, President of Worldway Group, Mr. Scott, CEO of the Central Business District Developer of Saint Kitts, and Mr. Stanley, Director of Investment Promotion of the Government of Saint Kitts and Nevis for their presence. I am very pleased to be here today to share and introduce the country of Saint Kitts and Nevis, the country I have the honor to lead, and to take this opportunity to learn more about you. First, thank you for coming. Prior to this, I had the privilege of visiting Hong Kong. I greatly appreciate the rich history here and enjoy this city, a modern masterpiece of the 21st century. Today, my theme is to introduce the Saint Kitts and Nevis Citizenship by Investment Program, one of the earliest of its kind in the world. This program was legislated in 1984 and has undergone several government revisions since then. I emphasize that the government adjustments are made to ensure that the Saint Kitts and Nevis Citizenship by Investment Program brings direct tangible benefits to my country and its people, while continuing to attract the most discerning investors.
Next, allow me to introduce this country that I am proud of. First, like Hong Kong's Hong Kong Island and Kowloon Peninsula, Saint Kitts and Nevis is also composed of two islands in the Caribbean. Secondly, like Hong Kong, Saint Kitts and Nevis has many mountains, with the highest mountain, Mount Liamuiga, almost matching the height of Hong Kong's Victoria Peak.
Our country is indeed not large; the combined land area of Saint Kitts and Nevis is one hundred square miles. However, what my country and people possess is passion, resilience, and determination. We firmly believe in moving towards a better direction. We have the highest standards of economic planning and fiscal management, and we hold a steadfast belief in civil liberties and the rule of law. Our country, which is about to become your country, follows a legal system that separates the legislative, judicial, and executive powers, enjoying the reputation of a democratic nation internationally.
For the past three hundred years, Saint Kitts has primarily relied on sugarcane cultivation and the sugar industry, exporting to Britain in Europe. Our economy was once very singularly dependent on sugar. Towards the end of the 20th century, with the establishment of the WorldWay Organization, sugar prices plummeted, causing us to gradually lose our advantageous position in sugar exports to Britain. We realized that the government must adjust the economic structure and focus. By 2005, our government, after analysis and investigation, adopted a series of necessary policies and adjustments, allowing the overall economy of the country to undergo a significant and smooth transition from a singular reliance on sugar to a diversified economic structure, including light industry, tourism, agriculture, financial services, and information technology industries.
Allow me to return to the sugar industry. Our island has relied on it since the 17th century, and it is deeply engraved in our people's historical culture. However, my government has continuously halted it with almost imperceptible social adjustments. The entire industrial structure has not experienced any disconnection, thanks to our country's and government's careful analysis and meticulous deployment, as well as the management wisdom recognized by the world.
Ladies and gentlemen, esteemed guests present! When the high tuition fees in London lead to social unrest, and when the rising bread prices in cities like Caracas trigger social change, our government's cautious and focused leadership spirit, combined with adaptability and flexibility, allows us to make significant economic structural adjustments in a stable and secure manner. This has been well-known for a long time.
So what are the specific impacts of these significant changes? And how is the country, which once solely relied on the sugar economy, now after nearly ten years of economic adjustment? Saint Kitts and Nevis, as many of you know, is a member of the Organization of Eastern Caribbean States. This organization consists of nine independent countries and regions, with Saint Kitts and Nevis serving as a financial center due to the presence of its central bank and many financial service institutions. Therefore, after a series of policy formulations and adjustments, we deeply understand the interdependence and importance of government, business, and labor. My country has been fortunate to be the largest exporter to the United States in the region for several consecutive years, with export volumes exceeding the total of all other Eastern Caribbean countries plus Barbados. Our agricultural production not only supplies the domestic market but also exports to neighboring countries and other regions. In fact, agriculture has now become a target industry for attracting foreign investment, developing into a modern industry. The security apparatus of Saint Kitts and Nevis is very well-established and efficient. Our law enforcement personnel are highly trained and possess a strong belief and love for the country. This is also built on our good relations with other countries in the region and active cooperation with international law enforcement agencies.
So how is our education system? Many countries in the world aspire to free compulsory education from kindergarten to high school, while Saint Kitts and Nevis has implemented this system for nearly fifty years. This free compulsory education system has allowed our country to reserve a large number of talents for sustainable and prosperous development in the future, ensuring that our social and economic development remains on an upward trajectory, just as it has for the past twenty years. How have we performed during this prolonged global economic crisis? Saint Kitts and Nevis has received positive assessment reports from the International Monetary Fund for several consecutive years, an organization highly regarded as a global economic assessment institution. All of this reflects that our country and government have established extremely high standards, and we work exceptionally hard. Despite our small size, and despite the fierce competition brought by globalization to many countries, large and small, the people of Saint Kitts and Nevis will continue to forge ahead. We have been working hard to shield ourselves from external resistance and difficulties, ensuring that our people not only see growth in economic analysis data but also feel and understand the significance of such growth in their daily lives.
Against the backdrop of this economic system transformation, ten years ago, our government decisively decided to amend the Citizenship by Investment Program, offering investors two options:
The first option is to invest in real estate in Saint Kitts and Nevis, obtaining citizenship after due diligence.
The other option is to invest in the Sugar Industry Diversification Fund, which is invested in various social industries, including agriculture, education and training, small business development, low-interest mortgage loans, internship training loans, tourism, and more.
Therefore, this afternoon, I am honored to recommend and introduce the Saint Kitts and Nevis Citizenship by Investment Program to you:
This program has always been very successful, leading similar projects globally for the past 30 years. This also explains why the program has been popular among investors for many years. We ensure that we attract the best investors to participate in this program. As I mentioned at the beginning: our goal is to attract the most discerning investors. We do not wish to have investors with criminal backgrounds or whose funds originate from crime. We are committed to ensuring that all investors are excellent investors who can pass due diligence and become citizens of Saint Kitts and Nevis, which will not only benefit our country and this program but also benefit all of you investors, who will gain economically after becoming citizens of Saint Kitts in the future.
To better promote the Saint Kitts and Nevis Citizenship by Investment Program, we hope to establish closer cooperation and contact with various promotional agencies, developers, and global public sectors in the future. To maintain high standards of due diligence, we have always had support from global public sector partners. We also believe that maintaining a high level of vigilance is crucial, and it is very important to adjust this program over time. We recognize that the U.S. Department of the Treasury has been very concerned about global investment citizenship programs, and effective measures must be in place to prevent abuse. On this point, I am in agreement with the U.S. Department of the Treasury. Our representatives have also met with the U.S. side and will continue to maintain communication in the future. We work together to ensure that such programs maintain high standards internationally and align with global interests.
Ladies and gentlemen! Due to our hard work and efforts, the economic growth of Saint Kitts and Nevis far exceeds that of neighboring countries and even some larger countries. According to our experts and international observers, we will continue to remain on an upward development trajectory in the future. We believe that such development is what the people of Saint Kitts aspire to, and effective management and supervision of the Citizenship by Investment Program play an important role in the future development of the country.
Here, I invite you all to start communicating with us as soon as possible, to engage in dialogue. Let us explore and build better connections between each other. The Saint Kitts and Nevis Citizenship by Investment Program is a very well-structured program, and we can answer your questions through various channels. We also invite you to learn more about this carefully designed program.
I would like to emphasize again that high standards of strict due diligence can enable us to maintain stable development in a challenging international environment. Therefore, these high standards can meet the needs of our people and investors from around the world, and can continue to uphold the highest standards of the program in the future.
Before I conclude, I would like to thank Dr. Winner Xing for inviting me today, giving me the opportunity to present the Saint Kitts Citizenship by Investment Program. Finally, I would like to thank the developers of Saint Kitts for their continuous commitment to the construction and development of Saint Kitts, including Mr. Scott, CEO of Goldstone Company, who is present today. I hope everyone can learn more about the Central Business District project he has brought. I hope you can learn more about our country and the Citizenship by Investment Program, and I also hope to learn more about you, friends from Hong Kong and beyond. Thank you!