Dear Editor,
Several weeks ago, The Daily Herald reported that Anguilla has established a special economic zone. The newspaper also mentioned that the first special economic zone company in Anguilla is expected to hire 8 to 15 Anguillians.
Since 2011, the author of this article has consistently advised the Government of St. Maarten to endeavour or try to establish a special economic zone. Numerous times, various St. Maarten governments and the public were made aware of the possibility of establishing a special economic zone on St. Maarten.
One of the best models of a special economic zone is located in the Cayman Islands. As a matter of fact, the Cayman Islands has three economic zones. Since 2011, special economic zones in the Cayman Islands have generated an estimated 1 billion dollars to its economy. Additionally, there are almost 400 special economic zone companies in the Cayman Islands.
It is commendable that Minister of Tourism, Economic Affairs Telecommunication and Transport Grisha Heyliger Marten is spearheading efforts in promoting agriculture. I concur with her endeavors. However, establishing another industry such as a special economic zone is very necessary to improve this nation’s economy. Minister Heyliger should reach out to Caymanian and Anguillian officials to learn as much as possible about how to create St. Maarten’s version of a special economic zone.
Reliable electricity and dependable Internet will be needed to launch a special economic zone. Additionally, the government has to tackle road blocks like the high percentage of profit and other taxes. Moreover, a law and independent body regulating this industry will be needed. This is the path the Cayman Islands took before creating their special economic zones.
Furthermore, the recent meeting between the Government of the British Virgin Islands (BVI) and the Government of St. Maarten concerning trade, tourism, agriculture and financial services. Much can be learned from the BVI because they do not rely on a single industry. If the Government of St. Maarten is really serious about diversifying its economy; it must do all the work collectively to make it a reality.
After decades of relying on one industry it’s St. Maarten’s turn to introduce a new industry.
Kenneth Cook
