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History


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The Development Corporation (DEVCO) initially managed the Investment Promotion functions of St.Vincent and the Grenadines. This company was also charged with the responsibility of property acquisition and disposal and the provision of loans and other forms of financial assistance.

In keeping with the Government’s drive to improve St.Vincent and the Grenadines’ capacity and capability to attract quality investments and develop competitive export sectors, a research project was commissioned to evaluate the effectiveness of DEVCO. The project was conducted by the Commonwealth Fund for Technical Cooperation (CFTC) in conjunction with Growth Facilitators of Jamaica.

The report concluded that in order for the Government to achieve its ideals of self-sustainable and balanced economic growth it was necessary to create a separate entity which would be responsible for the island’s Investment Promotions and Foreign Direct Investment functions. Consequently the National Investment Promotions Incorporated was founded by decree in October 2003.

It was felt that the name and image of National Investment Promotions Inc was not having the desired impact regionally and internationally, and therefore it was agreed that a rebranding exercise should be conducted in order to obtain a new and improved identity for the investment promotions agency. The identity approved on March 13th 2009 was Invest SVG. Invest SVG was launched on August 24th 2009.

Invest SVG formerly operated as National Investment Promotions Inc is the gateway which connects the world to St. Vincent and the Grenadines, enabling local and foreign investors alike the opportunity to invest in all the economic sectors in the country. Special emphasis has been placed on Hotel Development, Light Manufacturing, Agro-Processing, Information and Communications Technology (ICT) and International Financial Services and the Creative Industry.

Invest SVG reports to the Office of the Prime Minister. This ensures that Invest SVG gets the full weight of the Office of the Prime Minister on Multi-Sectoral issues.

Cabinet has appointed a Board of Directors drawn from the Public and Private sectors. The Board is responsible for policy guidance, strategic planning and ensuring the accountability of the Executive Director. The Board is aware that Investments Promotion is highly competitive and that the company must be staffed with personnel who are aggressive, responsive, client focused, market driven and flexible.
 

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