Grenada AgriTourism Policy Setting Workshop Policy setting for improved linkages between agriculture, trade and tourism: Strengthening the local agrifood sector and promoting healthy food in agritourism. Workshop organised by the Government of Grenada In collaboration with OECS, CTA, IICA, Radisson Grenada Beach Resort, Grand Anse, St. George, Grenada September 17-18, 2019

1. Investment Opportunities
for Small and Micro-
Businesses in Grenada
Developed by Stephon Benjamin
Grenada Investment Development Corporation

2. GRENADA’S ECONOMY
2
ABOUT THE GIDC
INVESTMENT
OPPORTUNITIES
TOPIC
S
SMALL BUSINESS SUPPORT
INVESTMENT SUPPORT

3. ABOUT THE
GIDC
SECTION 1

4. 4
The GIDC was established on March 1, 1985
by the Government of Grenada through the
enactment of the Grenada Industrial
Development Corporation Act, Act 2 of 1985.
The Grenada Investment Development
Corporation Bill of 2016 seeks to provide for
the establishment of the Grenada Investment
Development Corporation as an Economic
Development Corporation with responsibility
to promote and facilitate foreign and local
investment in Grenada.
GIDC

5. Overall strategic
goal of the GIDC
To promote local and foreign
investment, facilitate and
strengthen entrepreneurial
development within the
growth sectors of
Grenada's economy
Strategic Goals
Increase the generation of
sustainable local and
foreign investments.
Stimulate economic activity
by facilitating the expansion and
diversification of investments.
Advocate for changes in public
policy would improve the
enabling environment.
Role of the GIDC
To promote and facilitate foreign
and local investment in
Grenada;
To deliver assistance, services,
and incentives for related
purposes;
To develop and advocate
investment policies to
encourage new, existing,
and emerging businesses;
GIDCGrenada Development Investment Corporation

6. 6
GIDC
• Investment Promotion
• Facilities
• Business Development Centre
• Shared Services (Finance, Human
Resources, I.T, Communications)
Units

7. 7
GRENADA’S
ECONOMY
GDP - composition, by
sector of origin:
agriculture: 6.8% (2017 est.)
industry: 15.5% (2017 est.)
services: 77.7% (2017 est.)
6.80%
15.50%
77.70%
GDP
Agriculture Industry Services
GDP – real growth rate:
5.1% (2017 est.)
3.7% (2016 est.)
6.4% (2015 est.)
Agriculture – products:
Bananas, cocoa, nutmeg, mace,
soursop, citrus, avocados, root crops,
corn, vegetables, fish
Industries:
Food and beverages, textiles, light
assembly operations, tourism,
construction, education, call-center
operations

8. 8
TOURISM
STATS
Visitors for 2018 numbered 528,077, a 12.90 percent increase over
2017
Stayover arrivals saw growth of 9.97 percent, moving from 146,375
to 160,970
Canada -19.05 percent increase (14,586 to 17,364),
U.S.A. - 12.38 percent increase (67,252 to 75,577)
Caribbean - 6.87 percent increase (27,127 to 28,990)
Latin America - 13.28 percent increase (1,265 to 1,433)
The world - 18.27 percent increase (2,934 to 3,470)
The yachting sector recorded double-digit growth (10.82 percent),
with increases from 21,911 to 24,281—a direct result of 428 more
yacht calls
Cruise arrivals, the sector grew by 14.49 percent (299,449 to
342,826) due to larger cruise ship calls

9. 9
TOURISM
STATS
THE
ST. GEORGE’S
UNIVERSITY
St. George’s University contributed about 22.7 percent of
Grenada’s GDP in 2017
One of the main drivers of economic growth on the island
over the past five (5) years
SGU student population has shown steady growth from
2,393 in 2002/03 to 6,302 in 2015, an average growth rate of
13.6 percent per annum
The strategy of SGU is to double the student enrolment
within the next few years

10. INVESTMENT
OPPORTUNIT

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TARGET NICHES
Boutique
Hotels &
Yachting,
Diving
Day Spas, Natural
Preparations,
Assisted Living
Facilities, Treatment
/Rehabilitation
Centers
Customer Service
Call Centers,
Software
development,
Mobile Device
Applications,
Animation
Organic Farming,
GAP Farming,
Food Products for
Wellness
Services,
Value Added
Processing
Manufacture,
installation and
servicing of solar
powered products

12. 12
TOURISM AND
HOSPITALITY
Forts and other heritage sites
Hiking and adventure tourism
(hashing)
Water Sports
Attraction site business opportunities (underwater
sculpture park, petroglyph tour)
Festivals (heritage and cultural)
Branding on t-shirts, mugs and other souvenir items

13. 13
TOURISM AND
HOSPITALITY
Botanical gardens and butterfly farms
Reforestation / tree adoption project
Local art and craft (paintings, figurines, jewelry)
Bird watching
Hobbyist and other interest events
Eg. Model cars and airplanes, music festivals
and retreats
Local art and craft (paintings, figurines, jewelry)

14. 14
AGRI-BUSINESS
Organic grown fruits and vegetables
Organic fertilizer plant
Establishment of a nursery
for nutmeg plants
Establishment of a manufacturing plant to manufacture
spoons and other kitchen utensils from sustainable plants
Animal husbandry - pigs, ruminants, rabbits
Floriculture project
Aloe Vera cultivation for export

15. 15
AGRI-BUSINESS
Essential oils extraction from mango seeds
Essential oil extraction form rosemary / cloves
Manufacture of briquettes using nutmeg shells
Duck farming
Woofing and other similar ventures
Non traditional short crops
Micro greens
Arugula
Sprouts

16. 16
ICT
HEALTH AND
WELLNESSBusiness opportunities within the spa industry:
Manufacture of outfits for spas
Production of music for spas
Packaging of hot stones
Retirement homes/ homes for elderly
Sulphur spring wellness centers
Herbal teas and tea houses
Yoga and Pilates retreats

17. The Power of PowerPoint | thepopp.com 17
INVESTMEN
T
SUPPORT

18. 01 02
03
18
Customs Act
VAT Act
Excise Tax Act
Custom Service Charge
Act
INVESTMENT
INCENTIVES Income Tax Act
Property Transfer Tax Act
Investment incentives will be awarded to qualifying
investments projects under the following legislations:

19. 19
INVESTMENT
INCENTIVES
Investment Allowances
Loss Carry Forward
Customs Duty Exemptions
VAT Suspension
Tax Credits for Training
Tax Credits for Research and Development
Excise Tax Exemption
Property Transfer Tax Waivers
Customs Service Charge Reductions
Will comprise of:

20. 20
SECTORS ELIGIBLE FOR
INVESTMENT INCENCENTIVE
Tourism
Tourism Accommodation
Tourism Services
Restaurateur
Manufacturing
Agriculture and Agri-business
IT Service Telecommunication
Providers and BPO operations
Education and Training
Health and Wellness
Medical Services
Sports
Creative Industries
Energy
Other:
Heavy Equipment
Operators
Student
Accommodation
Taxi and Tour
Operators

21. 21
SMALL
BUSINESS
SUPPORT

22. 22
SMALL BUSINESS
SUPPORT
Develop business ideas, prepare business plans and register your
business name
Assist with the application for grant funding from regional and
international agencies
Training in the following areas: Entrepreneurial Skills Development,
Costing & Pricing, Record-keeping, Customer Service and Customs
Entry. Training can also be provided at your request

23. 23
Promote your investment project to receiving financing or joint venture
partnership.
Information on doing business on island via website www.grenadaidc.com
Assistance to obtaining government incentives within the following sectors.
Industrial space for rent from the following locations: Frequente Industrial
Park in St. George, Seamoon Industrial Park in St. Andrew and the GIDC
Commercial Complex in St. Patrick’s
SMALL BUSINESS
SUPPORT

24. QUESTIO
NS
For detail information on investing and
doing business in Grenada
Visit Our Website at http://www.grenadaidc.com
or
Contact GIDC at
Frequente Industrial Park
St George’s, Grenada
Tel: 1 473 444-1033-40
Fax: 1 473 444-4828
Email: invest@grenadaidc.com