THE VINCENTIAN PDF- 10-05-0

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FRIDAY,

MAY 10, 2019

VOLUME 113, No.19

www.thevincentian.com

EC$1.50

NOTHING DIFFERENT ABOUT RAINFOREST AGREEMENT Rainforest Seafoods Ltd. Is said to be the largest exporter of fish and seafood products in the English-speaking Caribbean.

(L-R): Dr. Ralph Gonsalves, PM of St. Vincent and the Grenadines, and Brian Jardim, CEO Rainforest Seafoods, following the signing of the Agreement, Wednesday 10th April, at the Argyle International Airport. THERE IS NOTHING SINISTER nor irregular

about the agreement the government of St. Vincent

and the Grenadines has entered into with

Rainforest Seafoods St. Vincent Ltd., herein

referred to as Rainforest. Prime Minister Dr. Ralph Gonsalves may well have used those words as he sought to explain, if not defend, the agreement referred. He did so while speaking on WE FM last Sunday, seemingly in response to those persons whose application to use the Calliaqua Fisheries Facility was refused, and who had found it ‘fit’ to make disparaging comments about the agreement.

Not unlike the past From what could be

Rainforest concessions: Why so much? by DAYLE DASILVA IT NEEDS TO BE DETERMINED whether or not the concessions given to the Jamaican CompanyRainforest Seafoods are justifiable, and what makes this project different from one that already exists in the country. This was Leader of the Opposition, Dr Godwin

Friday’s contention as he weighed in on the issue of the concessions that were given to the company, in the name of Rainforest Seafoods St. Vincent Ltd. In April, government and the owners of the Rainforest Seafoods signed an agreement governing the setting up of a seafood processing and packaging plant at Calliaqua, with the total investment

estimated at EC$10million. The facility is expected to purchase lobster, conch and other marine species for export, and is purported to be able to generate EC$2million each year. Among the concessions agreed to by the government are that no taxes or withholding of any kind will be levied on the Rainforest Seafood’s income, profits and

Leader of the Opposition has questioned the enormity of the concessions granted to Rainforest Seafood St. Vincent Ltd. capital gains for 15 years — this period begins when the company has indicated to the government that it was in fact ready to open for commercial business. Continued on Page 3.

gathered, the Rainforest will make an investment of some EC$10m, inclusive of constructing a facility at Calliaqua, on land for which they will pay a monthly rental of EC6,500.00 for the next 25 years. Dr. Gonsalves, in addressing the substance of the agreement, made it clear that the concessions given to Rainforest Seafoods St. Vincent Ltd. are not different from what is accorded hoteliers, manufacturers and investors generally, who Continued on Page 3.


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