Day: April 1, 2024

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Affluent African investors to feature at the Caribbean Investment Gateway Summit

Basseterre, April 01, 2024 (GLOBE NEWSWIRE) — The Investment Gateway Summit taking place in St. Kitts and Nevis, presents an exclusive opportunity for African high-net-worth individuals (HWNIs) to have a unique experience to ‘connect, celebrate and collaborate’ with like-minded global investors from 11 to 15 May.

Among those confirmed to attend are renowned leaders representing leading sectors in Africa. Notable figures from industries such as telecommunications, finance, energy, and agriculture have registered to participate in this exclusive event.

This remarkable five-day event will offer individuals the chance to gather for networking and interaction with industry leaders, featuring lively workshops, engaging panel discussions, cultural exhibitions, and a firsthand experience of the vibrant spirit of St. Kitts and Nevis.

These African investors will have the invaluable opportunity to broaden their international networking connections as they join hundreds of global citizens, entrepreneurs, and business leaders from key regions such as America, Singapore, Hong Kong, the UAE, and China at the summit. This convergence of diverse perspectives and expertise promises to facilitate cross-border collaborations, foster strategic partnerships, and unlock new avenues for growth and investment on a global scale.

‘Connect, Celebrate, Collaborate’ with economic citizens 

This Summit marks a pioneering milestone as the first of its kind globally, attracting African HNWIs, proud local and economic citizens, global investors, C-Suite executives, entrepreneurs, real estate developers, prospective St. Kitts and Nevis Citizenship by Investment (CBI) applicants, as well as local CBI Authorised Agents and International Marketing Agents.

Furthermore, each day of the Summit is designed for African investors to immerse themselves in discussions with the St. Kitts and Nevis Prime Minister, Honourable Dr. Terrance Drew, Government officials and explore the country’s attractions. The detailed agenda includes exhibits, interactive conferences and panel discussions.

African HNWIs can enquire about becoming exhibitors or sponsors of the Summit to connect with other African HNWIs with St. Kitts and Nevis citizenship, acquired through the CBI Programme. This will be a unique opportunity to create new partnerships via projects within the twin-federation and share visionary ideas.

St. Kitts and Nevis is prepared to welcome African HNWIs, entrepreneurs, highly talented Africans, prospective African CBI applicants and C-Suite African businesspeople to the country of possibilities and prosperity.

Attachment

Secretary of St. Kitts and Nevis Citizenship by Investment Programme
Government of St. Kitts and Nevis
00 (1-869) 467-1474
communications@skn-ciu.com

GlobeNewswire Distribution ID 9081778

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Economic citizens welcomed home to collaborate at the St Kitts and Nevis Investment Gateway Summit

Basseterre, April 01, 2024 (GLOBE NEWSWIRE) — St. Kitts and Nevis is gearing up to host their inaugural Investment Gateway Summit, which is a once-in-a-lifetime experience for its economic citizens to ‘connect, collaborate and celebrate’ with like-minded global investors. The Summit will take place from 11 to 15 May at the St. Kitts Marriot Resort, displaying world-class sustainable business and investment development practices in the twin-federation.

The St. Kitts and Nevis Investment Gateway Summit isn’t just about scripted speeches or glossy brochures—it’s about real conversations and tangible opportunities that global citizens can explore. The Summit also offers a range of opportunities to connect with industry leaders and fellow entrepreneurs.

With hundreds of attendees from countries spanning the globe, including the United Arab Emirates (UAE), Nigeria, Egypt, South Africa, Singapore, China, and more, the Summit promises unparalleled networking prospects.

Strategic Partnerships 

The 5-day long event will bring together economic citizens, policymakers, corporate leaders, business delegations, academia, and think tanks from across the globe to collectively explore business opportunities and forge new partnerships.

Local exhibitors and international sponsors will have a unique opportunity to showcase their businesses and promote their brands to this niche audience.

The Investment Gateway Summit is an opportunity for key stakeholders from businesspeople, economic citizens and governments to collaborate in sustainable development and connect for long-term collaborations. Participants will gain exclusive access to expertise and invaluable resources from reputable global leaders and investors.

The Summit will have interactive networking sessions, and panel discussions, including experiences around the twin-federation

Business Opportunities 

St. Kitts and Nevis is a prime business location in the Caribbean that offers eco-business practices and growth opportunities. Numerous factors make the twin-federation a favourable business environment, these include the country’s strategic location forming part of a gateway for international trade and investments.

Investment Gateway Summit Programme 

Each day the detailed agenda is packed with exciting events that will take place, such as an exclusive opportunity to celebrate with the Prime Minister of St. Kitts and Nevis, Honourable Dr. Terrance Drew in a private Gala Dinner, alongside other economic citizens and special guests.

The Gala Dinner is strictly by invitation, as there are limited tickets available, this will be your opportunity to connect, celebrate and collaborate with economic citizens, share values and inspiration.

The Programme includes unique opportunities for its guests to explore the idyllic island through events such as the St. Kitts Scenic Railway, create a memorable cultural experience on the Frigate Bay Strip, and learn about one of UNESCO’s World Heritage Sites, the historical Brimstone Fortress.

Partner with Us 

Interested in promoting your brand, business services, or exploring sponsorship opportunities? Please leave a comment here along with your inquiry in the contact form, and we will promptly respond with details on available packages.

Attachment

Secretary of St. Kitts and Nevis Citizenship by Investment Programme
Government of St. Kitts and Nevis
00 (1-869) 467-1474
communications@skn-ciu.com

GlobeNewswire Distribution ID 9081850

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Draft State Budget 2025: Government will continue to control wage bill and rationalise subsidies

_: The draft state budget for 2025 is based on continuing to control the wage bill, achieving the objectives of the subsidy system, planning strategic development projects and defining investment spending, according to the Prime Ministry. In a circular on the preparation of the draft state budget for 2025, sent to ministers, state secretaries, heads of structures, governors and heads of programmes, it was also stated that the rate of increase in administrative expenditure should not exceed 4%. These guidelines were formulated in the context of preserving financial balances, reducing the state budget deficit and recourse to debt, according to the same source. The Prime Ministry pointed out that despite the signs of improvement in the global economic situation, characterised by a recovery in the growth rate of the major economies, uncertainty could affect the international and local situation, requiring a series of forward-looking measures. He went on to explain that the draft State budget for 2025 is part of Tunisia's Vision 2035 and the achievement of the objectives of the 2023-2025 Development Plan. To this end, the government plans to restore the pace of gradual growth by supporting the productive sector and gradually bringing public finances under control. It also intends to continue reforming the tax system and the civil service, support public investment and continue implementing the national strategy for reducing gas emissions and adapting to climate change. The Prime Minister's Office expects the cost of the wage bill to fall from 16% of GDP in 2020 to 13.6% in 2023 as a result of the measures taken. The government will continue to implement several measures, including the general increase in accordance with the agreement of 15 September 2022 and the decrees issued thereunder, and that there will be no call for proposals for wage increases and the creation of new bonuses. The government will work to rationalise recruitment by targeting it according to priorities. On the administrative side, the Pri me Minister recommends better control over the management of transport and the disposal of unused cars and equipment, energy consumption, expenditure on missions abroad and efforts to rationalise water consumption. Subsidy spending will reach 7.2% of GDP in 2023, mainly on hydrocarbons and raw materials. The government also plans to better develop control mechanisms in this chapter of the draft 2025 State Budget. In the chapter on investment spending, the Prime Ministry has recommended implementing the role of regional sectoral committees set up by the Higher Investment Commission and completing projects. He stressed the obligation for all ministries to join the "Injaz" system for evaluating project implementation in order to enter data on the progress of projects. The Prime Ministry has asked that priority be given to the annual projects and programmes in progress, in order to complete them and, above all, to review the projects placed under the heading "ongoing", but which have not yet started in an effe ctive manner, with the aim of ensuring the imperative of carrying them out and classifying them among the priorities. It pointed to the possibility of abandoning planned investment projects that are no longer of interest, in order to reduce the State's commitments, bearing in mind that the authorities are called upon, when taking decisions on new projects, to take into consideration the various needs of vulnerable social groups. With regard to subsidies for state enterprises, the Prime Ministry emphasised the need to mobilise own resources and available surpluses to cover needs and limit State aid. It noted that the granting of subsidies to enterprises will be carried out in 2025 in instalments according to the rates determined by the Minister in charge of Finance, as the person responsible for the State budget, as well as the need for state enterprises to undertake to provide the services of the Ministry of Finance with a statement on the execution of the budget for the last three years as indicated by th e competent chartered accountant. It also stressed the need to adopt these procedures for special accounts. It is also important for special funds to provide reports to the Ministry of Finance, while special missions such as the Assembly of People's Representatives, the Supreme Judicial Council and others are required to respect the legal deadline for submitting their budget proposals. Source: Agence Tunis Afrique Presse

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Draft State Budget 2025: Government will continue to control wage bill and rationalise subsidies

_: The draft state budget for 2025 is based on continuing to control the wage bill, achieving the objectives of the subsidy system, planning strategic development projects and defining investment spending, according to the Prime Ministry. In a circular on the preparation of the draft state budget for 2025, sent to ministers, state secretaries, heads of structures, governors and heads of programmes, it was also stated that the rate of increase in administrative expenditure should not exceed 4%. These guidelines were formulated in the context of preserving financial balances, reducing the state budget deficit and recourse to debt, according to the same source. The Prime Ministry pointed out that despite the signs of improvement in the global economic situation, characterised by a recovery in the growth rate of the major economies, uncertainty could affect the international and local situation, requiring a series of forward-looking measures. He went on to explain that the draft State budget for 2025 is part of Tunisia's Vision 2035 and the achievement of the objectives of the 2023-2025 Development Plan. To this end, the government plans to restore the pace of gradual growth by supporting the productive sector and gradually bringing public finances under control. It also intends to continue reforming the tax system and the civil service, support public investment and continue implementing the national strategy for reducing gas emissions and adapting to climate change. The Prime Minister's Office expects the cost of the wage bill to fall from 16% of GDP in 2020 to 13.6% in 2023 as a result of the measures taken. The government will continue to implement several measures, including the general increase in accordance with the agreement of 15 September 2022 and the decrees issued thereunder, and that there will be no call for proposals for wage increases and the creation of new bonuses. The government will work to rationalise recruitment by targeting it according to priorities. On the administrative side, the Pri me Minister recommends better control over the management of transport and the disposal of unused cars and equipment, energy consumption, expenditure on missions abroad and efforts to rationalise water consumption. Subsidy spending will reach 7.2% of GDP in 2023, mainly on hydrocarbons and raw materials. The government also plans to better develop control mechanisms in this chapter of the draft 2025 State Budget. In the chapter on investment spending, the Prime Ministry has recommended implementing the role of regional sectoral committees set up by the Higher Investment Commission and completing projects. He stressed the obligation for all ministries to join the "Injaz" system for evaluating project implementation in order to enter data on the progress of projects. The Prime Ministry has asked that priority be given to the annual projects and programmes in progress, in order to complete them and, above all, to review the projects placed under the heading "ongoing", but which have not yet started in an effe ctive manner, with the aim of ensuring the imperative of carrying them out and classifying them among the priorities. It pointed to the possibility of abandoning planned investment projects that are no longer of interest, in order to reduce the State's commitments, bearing in mind that the authorities are called upon, when taking decisions on new projects, to take into consideration the various needs of vulnerable social groups. With regard to subsidies for state enterprises, the Prime Ministry emphasised the need to mobilise own resources and available surpluses to cover needs and limit State aid. It noted that the granting of subsidies to enterprises will be carried out in 2025 in instalments according to the rates determined by the Minister in charge of Finance, as the person responsible for the State budget, as well as the need for state enterprises to undertake to provide the services of the Ministry of Finance with a statement on the execution of the budget for the last three years as indicated by th e competent chartered accountant. It also stressed the need to adopt these procedures for special accounts. It is also important for special funds to provide reports to the Ministry of Finance, while special missions such as the Assembly of People's Representatives, the Supreme Judicial Council and others are required to respect the legal deadline for submitting their budget proposals. Source: Agence Tunis Afrique Presse

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Prime Ministry says need to submit performance projects before June 15

Tunis: The Prime Ministry called on ministries to develop annual performance projects for 2025 and submit them to the Finance Ministry on June 15 at the latest. This will allow time for administrators responsible for the budget to start discussions, the Prime Ministry said in a circular on the draft budget for 2025 sent to ministers, secretaries of state, governors and programme managers. The draft budget is supported by an annual performance project. The latter is annexed to the draft law of the same financial year. The Prime Ministry called for dialogue through the various stages of the development of the annual performance project on the basis of evidence and guidelines, while checking the credibility of data. There is need to lend due importance to the annexes of the annual performance project as a strategic document, reads the circular, and adopt the information system to follow up documents submitted by the various public policy stakeholders. All programme managers, management by objective (MBO) un its, public expenditure controllers and officials in charge of budget development and implementation need to attend all meetings. Source: Agence Tunis Afrique Presse