The hopes of the people of Anguilla for a prosperous New Year were raised by Deputy Governor, Mr. Perin Bradley, on Wednesday, November 14.
He was at the time delivering an address as Guest Speaker at the 14th Annual General Meeting of the Anguilla Chamber of Commerce and Industry at Aleta Restaurant at Four Seasons Resort and Residences.
“In terms of next year, we’re optimistic that 2019 will be a banner year for Anguilla,” he told the business persons. “Between the construction work in the public sector, namely the High School, the Blowing Point Port and the strong prospects in tourism, we project a 6% growth in our economy.”
Mr. Bradley, who is Acting Governor in the absence on leave of Governor Tim Foy, said earlier in his address that he was pleased to report that by the end of this year, 2018, Anguilla was projected to show a positive economic growth of 3.72 percent.
“Quite naturally, this is driven by the strong performance of our construction sector which, when looked at in isolation, is up 30% over last year,” he continued. “Data from the damaged assessment report done just after the hurricane, reported that over 90% of the buildings in Anguilla suffered some kind of damage…so as we rebuild, the numbers tell the tale. Of course, the impact of the UK grant cannot be understated. EC$220 million is not an insignificant sum, and it must all be disbursed over the next two years. Our folks in construction are going to be quite busy.”
Mr. Bradley spoke in broad terms on access to Anguilla, mentioning a “wonderful presentation” to Executive Council by the Anguilla Tourist Board; the Blowing Point Port project which will account for a budget of EC$40 million; the coming expansion of the Clayton J. Lloyd International Airport; the Anguilla Government’s Economic Residency Programme; the special economic zone project for which a MOU was recently signed; and local entrepreneurship which, among other matters, may include a moratorium on supermarkets, hardware stores and possibly car rentals.
Meanwhile, in his address, outgoing Acting President of the Chamber of Commerce, Mr. Desron Bynoe, suggested that there was a need for sustainable and responsible planning and management in order for the tourist industry to survive.
“Although not everything depends on tourism, tourism depends on just about everything,” he stressed. “Sustainable tourism is about re-focusing and adapting. Therefore, we must work to find a balance between limits and usage so that we continuously change, monitor and plan to ensure that tourism can be managed. This requires thinking long-term (10, 20 plus years) and realising that change is often cumulative, gradual and irreversible. Economic, social and environmental aspects of sustainable development must include the interests of all local communities, visitors, industries and government.”
He went on: “The Chamber has recognised the rapidly changing economic and financial landscape within Anguilla and the region, and the necessity for more agility and financial stability in our economic development mandates. To this end, the Anguilla Chamber of Commerce and Industry are committed to the pursuit of economic transformation, even in the face of enormous challenges, characterised by relatively low economic growth, high levels of unemployment, and the increased frequency and severity of natural disasters caused by climate change.”
Chief Minister and Minister of Finance, Economic Development, Tourism, Commerce and Industry, Mr. Victor Banks, was of the view that after the hurricane businesses in Anguilla had now recovered to a certain extent. “We are promised to have a great tourism season in 2018/2019 because of the fact that our tourism plant, for the most part, will be up and running with some additional rooms in the case of Belmond Cap Juluca,” he observed.
Mr. Banks took the opportunity to commend the Chamber of Commerce and Industry for being the longest serving Chamber in Anguilla and assured its leaders and members of the continued support of the Government.
An election of officers to the Board of the Chambers was one of the agenda items of the Chamber’s Annual General Meeting. Those re-elected are: Ms Sandra Lovell, Mrs. Felicia Hill, Mr. Mark Romney and Mrs. Vida Richardson. The newly-elected members are Mr. Haydn Hughes, Ms. Latoya Hobbs-Nurse and Ms. Heather Wallace. Two of the elected members are replacements for Mr. Desron Bynoe and Mr. Trevor Woodley, both of whom have resigned. A new President to replace Mr. Bynoe will be elected at a forthcoming meeting of the Chamber.
