Summary

Performed thorough analysis of Grenada's investment laws and recommended improvements.

Purpose

To enhance the investment environment in Grenada so as to increase the flows of both domestic and foreign investment.

Activities

Gave rationales for the inclusion of the general provisions (sections) in the proposed Investment Act. Laid out and analyzed controversial issues contained in the proposed investment act, such as national treatment, most favored nation treatment, the type and extent of incentives to be granted to investors. To ensure that the proposed Act is in conformance with Grenada's commitments under the WTO, the Caricom Investment Code, and the Revised Treaty of Chaguaramas Establishing the Caribbean Community and the Caricom Single Market Economy.

Results

The Investment Act now provides clarity to investors, reduces perceived risk, shows that the Government is clearly committed to private sector investment. Also set out the 'rules of the game' for investors on such important issues as 'national treatment', MFN treatment, closed and open industry sectors, and incentives.