Moore Nanotechnology Systems Opens Global Training and Process Development Center in Charlotte, North Carolina

SWANZEY, N.H., Oct. 04, 2022 (GLOBE NEWSWIRE) — Moore Nanotechnology Systems (“Nanotech”), a leading global supplier of ultra-precision machining systems, announces the grand opening of their Global Training and Process Development Center in Charlotte, North Carolina.

Mark Boomgarden, President and CEO of Nanotech shared, “Nanotech is very excited to announce the grand opening of our Global Training and Process Development Center in Charlotte, North Carolina. Although the initial focus of this facility is to provide customer-specific training and industry-leading process development, it also provides Nanotech incremental production capacity to meet the demands of a rapidly growing market.”

Nanotech purchased and recently completed the upfit of a 50,000 ft2 building located in the Northpark Corporate Park – Charlotte, NC.

Nanotech’s core technology and employee base is in Swanzey, New Hampshire, and this foundation is fundamental to the products and services in which they provide. But as the organization continues to grow, Nanotech needed to find an ecosystem to help foster and accelerate this growth, and the Charlotte region allows Nanotech access to a world-class university, an international airport, and a city with the infrastructure to support a global footprint.

Robert Keynton, Dean of Engineering at UNC Charlotte added, “One of the advantages of having Nanotech expand their facilities here in Charlotte is that it strengthens our collaborations and our relationship, to include the hiring of our students.” Keynton continued, “But it also enables them access to the cutting-edge research our faculty are doing and to incorporate that knowledge into their systems.”

Nanotech continues to see significant growth as the requirements for optical systems become more and more complex and evolve from both real to virtual applications. The knowledge and process development required to support the manufacturing of these systems has also dramatically increased.

Scott Gerhart, Vice President Nanotech Sales and Service commented “Training and application support are fundamental to our product and service offerings, and in today’s markets, are expected by our customers.” Gerhart continued, “Because of this, our business depends on hiring the top talent available in the ultra-precision machining world. The students that are coming out of the Precision Manufacturing and Metrology Programs at UNC Charlotte are extremely well-prepared for the kind of roles we need to be successful at Nanotech.”

Paul Vermette, Vice President of Engineering stated, “As our customer’s continue to advance their in-house capabilities to meet the industry’s demanding product requirements, Nanotech continues to stay 1 to 2 generations ahead of the curve.” Vermette continued, “Our 5-year product & technology roadmap is built with customer input, which when combined with our internal investments, provides Nanotech the required strategic direction to achieve these goals.”

This new Nanotech facility is located at 6510 Northpark Blvd in Charlotte – fifteen minutes from both Uptown and Charlotte Douglas International Airport. The facility was renovated in 2022, to include the buildout of Class 10k cleanrooms, sitting on 24-inches of concrete isolation pads, and temperature control to +/- 0.1 degrees C. Additionally, the facility was upgraded to include temperature controlled high-bay manufacturing space, and a state-of-the-art training complex to support customer engagement.

Moore Nanotechnology Systems (Nanotech) was founded in Keene, New Hampshire in 1997 as a stand-alone subsidiary of the Moore Tool Company. In 2010, the company relocated into a modern, purpose-built facility in Swanzey, New Hampshire and in 2020 opened a facility in Concord, North Carolina. For over 25 years, Nanotech has been a world leader in the design, development and manufacture of state-of-the-art ultra-precision machine tools and associated processes (single point diamond turning, micro-milling, micro-grinding and glass press molding) for the production of advanced optical components in consumer electronics, space, defense, aerospace, lighting, medical and automotive sectors. Moore Tool, founded in 1924 and located in Bridgeport, Connecticut, has a long history in the precision and ultra-precision machine tool markets. Today, Moore Tool provides a complete line of high-performance CNC jig grinders, along with contract precision-manufacturing services certified to both ISO 9001:2015 and AS9100D. Moore Nanotechnology Systems and Moore Tool are vertically integrated under the PMT Group.

Moore Nanotechnology Systems: www.nanotechsys.com
Moore Tool, Inc: www.mooretool.com

For further information, please contact: sales@nanotechsys.com

AI and Cities: UN-Habitat and Mila launch a collaborative White Paper on the use and potential challenges of AI to support the development of people-centered sustainable cities and settlements

TORONTO, Oct. 4, 2022 /PRNewswire/ — UN-Habitat, the United Nations organization working for sustainable urbanization in over 90 countries, and Mila, the world’s largest academic deep learning research centre, announce the launch of their collaborative White Paper offering insights and recommendations on how Artificial Intelligence (AI) systems could be harnessed to support the development of socially and environmentally sustainable cities and human settlements.

Mila & UN-Habitat logo

Aimed at supporting both urban managers and practitioners, the White Paper, part of UN-Habitat’s strategy to promote a people-centered approach to digital transformation, outlines the current value add and challenges of AI in cities and provides a set of practical recommendations to improve the way in which AI is used and promotes sustainable cities and inclusive inclusive communities.

The document covers urban applications of AI across a wide range of sectors (Energy, Mobility, Public Safety, Healthcare, etc.), and covers important themes including the trad-offs and risks of AI, the specific approaches and applications of urban AI in urban governance.

The paper will be unveiled during a panel discussion at the 2022 Urban Economy Forum (UEF) in Toronto.

“AI, like any other technology, can be a force that widens or reduces social gaps depending on how it is applied. We have a collective responsibility to appropriately use and integrate AI solutions and ensure that there are no unintended consequences.” says Maimunah Mohd Sharif, Under-Secretary-General and Executive Director at UN-Habitat.

The goal of the White Paper is to provide local authorities with the necessary guidance they need to weigh up the pros and cons of AI in fostering sustainable local communities. Local authorities regularly make decisions about AI that impact people’s lives, and need the tools to assess where and for whom AI brings added value and whether it is appropriate in a given context. The paper serves as a knowledge resource to help guide decision making with respect to the positive engagement with and use of AI  for smart and people centered sustainable cities and human settlements.

“Like any other transformative opportunity, integrating AI into urban environments comes with challenges and risks that must be taken and tackled seriously for AI to benefit societies,” says Valérie Pisano, President and CEO of Mila. “This White Paper could be a very useful tool for local authorities who, like UN-Habitat and Mila, are committed to the responsible development of AI.”

Visit https://unhabitat.org/ to access the full White Paper.

White Paper main authors: 

  • Jean-Louis Denis, Full Professor (UdeM)
  • Golnoosh Farnadi, Assistant Professor (HEC Montréal), Core Academic Member (Mila), Canada CIFAR AI Chair
  • Shaz Jameson, PhD student (Tilburg Institute of Law and Technology, UdeM, Mila)
  • Shin Koseki, Assistant Professor (UdeM), Director (UNESCO Chair in Urban Landscape)
  • Catherine Régis, Full Professor (UdeM), Associate Academic Member (Mila)
  • Davild Rolnick, Assistant Professor (McGill University), Core Academic Member (Mila), Canada CIFAR AI Chair

More details on the Launch event: 

  • Event: Panel on the launch of the “AI and Cities: Risks Applications and Governance” Report by UN-Habitat and Mila at the 4th Urban Economy Forum (UEF4) on Sustainable Urban Finance. UEF4 will start with the opening session on Monday October 3 at 9:00 a.m. (EDT).
  • Location: Toronto, Canada World Urban Pavilion (WUP) at Regent Park Powered by Daniels  and virtually. Free registration link : https://www.eventbrite.ca/e/uef4-tickets-344374632797?discount=COMPLIMENTARY100
  • Time of the Launch: Tuesday, October 4, 2022 at 4:45 p.m. (EDT)
  • Speakers:
    • Anna Jahn (moderator), Director of Public Policy and Learning, AI for Humanity (Mila)
    • Golnoosh Farnadi, Assistant Professor (HEC Montréal), Core Academic Member (Mila), Canada CIFAR AI Chair
    • Shaz Jameson, PhD student (Tilburg Institute of Law and Technology, UdeM, Mila)
    • Davild Rolnick, Assistant Professor (McGill University), Core Academic Member (Mila), Canada CIFAR AI Chair
  • More information about UEF4: https://www.ueforum.org/uef4
About UN-Habitat 

UN-Habitat is the United Nations programme working towards a better urban future. Its mission is to promote socially and environmentally sustainable human settlements development and the achievement of adequate housing for all. It works in over 90 countries to promote transformative change in cities and human settlements through knowledge, policy advice, technical assistance and collaborative action. It works with partners to build inclusive, safe, resilient and sustainable cities and communities while promoting urbanization as a positive transformative force for people and communities, reducing inequality, discrimination and poverty. For more information, visit UN-Habitat – A Better Urban Future | UN-Habitat (unhabitat.org)

About Mila

Founded by Professor Yoshua Bengio of the University of Montreal, Mila is an artificial intelligence research institute that brings together over 1,000 researchers specializing in machine learning. Based in Montreal, Mila’s mission is to be a global hub for scientific advances that inspire innovation and development of AI for the benefit of all. Mila is a non-profit organization recognized worldwide for its significant contributions to the field of deep learning, particularly in language modeling, machine translation, object recognition, and generative models. For more information, visit mila.quebec

Media contacts: Katerina Bezgachina (UN-Habitat), ekaterina.bezgachina@un.org; Eric Aach (NATIONAL Public Relations for Mila), eaach@national.ca

Photo – https://mma.prnewswire.com/media/1913491/Mila___Quebec_AI_Institute_AI_and_Cities__UN_Habitat_and_Mila_la.jpg

 

Moore Nanotechnology Systems Inaugura Centro Global de Treinamento e de Desenvolvimento de Processos em Charlotte, Carolina do Norte

SWANZEY, N.H., Oct. 04, 2022 (GLOBE NEWSWIRE) — A Moore Nanotechnology Systems (“Nanotech”), fornecedora global líder de sistemas de usinagem de ultra precisão, anuncia a inauguração do seu Centro Global de Treinamento e de Desenvolvimento de Processos em Charlotte, Carolina do Norte.

Mark Boomgarden, Presidente e CEO da Nanotech disse: “A Nanotech está muito contente com a inauguração do nosso Centro Global de Treinamento e Desenvolvimento de Processos em Charlotte, Carolina do Norte. Embora o foco inicial seja fornecer treinamento específico para o cliente e o desenvolvimento de processos líder da indústria, o local fornece também a capacidade de produção incremental da Nanotech para atender a demanda do mercado em rápido crescimento.”

A Nanotech comprou e recentemente completou a modificação de um prédio de quase 5 mil m2 no Northpark Corporate Park – Charlotte, NC.

A tecnologia central e a base de empregados da Nanotech estão em Swanzey, New Hampshire, e esta instalação é fundamental para os produtos e serviços que a empresa oferece. Com o crescimento da empresa, a Nanotech teve que encontrar um ecossistema para ajudar a fomentar e acelerar este crescimento. Em Charlotte a Nanotech tem acesso a uma universidade de categoria internacional, um aeroporto internacional, e uma cidade com a infraestrutura necessária para a sua presença global.

Robert Keynton, Reitor de Engenharia da UNC Charlotte acrescentou: “Uma das vantagens da expansão da Nanotech em Charlotte é a solidificação das nossas colaborações e do nosso relacionamento, para incluir a contratação dos nossos alunos.” Keynton continuou: “Além disso, viabiliza o a acesso à pesquisa de ponta que nossos professores estão realizando e a incorporação desse conhecimento nos seus sistemas.”

A Nanotech continua a ter um crescimento significativo com os requisitos de sistemas ópticos cada vez maiores e mais complexos, e a sua evolução para aplicações reais a virtuais. O conhecimento e o desenvolvimento dos processos necessários para apoiar a fabricação desses sistemas também aumentaram drasticamente.

Scott Gerhart, Vice-presidente de Vendas e Serviços da Nanotech, comentou: “O treinamento e suporte de aplicativos são fundamentais para as nossas ofertas de produtos e serviços, que hoje em dia são esperados pelos nossos clientes.” Gerhart continuou: “Por causa disso, a nossa empresa depende da contratação dos melhores talentos disponíveis no mundo da usinagem de ultra precisão. Os alunos recém-formados dos Programas de Fabricação e da Metrologia de Precisão em UNC Charlotte estão extremamente bem-preparados para o tipo de funções necessárias para o sucesso da Nanotech.”

Paul Vermette, Vice-Presidente de Engenharia disse: “Como os nossos clientes continuam a avançar suas capacidades internas para atender aos requisitos dos produtos exigentes da indústria, a Nanotech continua 1 a 2 gerações à frente da curva.” Vermette continuou: “Nosso plano de execução de produtos e tecnologia para os próximos 5 anos tem por base a contribuição do cliente, que, quando combinada com nossos investimentos internos, proporciona para a Nanotech a direção estratégica necessária para que possamos alcançar esses objetivos.”

A nova instalação da Nanotech está situada em 6510 Northpark Blvd em Charlotte – a quinze minutos de Uptown e do Charlotte Douglas International Airport. A instalação foi renovada em 2022 com a adição de salas limpas Classe 10k, em placas de concreto de isolamento de 24 polegadas, e controle de temperatura de +/- 0,1 graus C. Além disso, o espaço de fabricação passou a ter uma maior altura com controle de temperatura, e um complexo de treinamento de última geração para o maior envolvimento com o cliente.

A Moore Nanotechnology Systems (Nanotech) foi fundada em Keene, New Hampshire em 1997 como uma subsidiária autônoma da Moore Tool Company. Em 2010, a empresa se mudou para uma instalação moderna em Swanzey, New Hampshire, e em 2020 abriu uma instalação em Concord, Carolina do Norte. Há mais de 25 anos a Nanotech é líder mundial de design, desenvolvimento e fabricação de ferramentas de ultra precisão de última geração e processos associados (tornos de diamante de ponto único, micro moagem, micro trituração e moldagem por prensa de vidro) para a produção de componentes ópticos avançados para os setores de eletrônica de consumo, espaço, defesa, aeroespacial, iluminação, médicos e automotivos. A Moore Tool, fundada em 1924 e localizada em Bridgeport, Connecticut, tem uma longa história nos mercados de máquinas-ferramenta de precisão e ultra precisão. Atualmente a Moore Tool fornece uma linha completa de jig grinders CNC de alto desempenho, juntamente com serviços de fabricação de precisão de contrato certificados para ISO 9001:2015 e AS9100D. A Moore Nanotechnology Systems e a Moore Tool são integradas verticalmente sob o PMT Group.

Moore Nanotechnology Systems: www.nanotechsys.com
Moore Tool, Inc: www.mooretool.com

Para mais informações, contate: sales@nanotechsys.com

Moore Nanotechnology Systems ouvre un centre mondial de formation et de développement de processus à Charlotte, en Caroline du Nord

SWANZEY, New Hampshire, 04 oct. 2022 (GLOBE NEWSWIRE) — Moore Nanotechnology Systems (« Nanotech »), un fournisseur mondial de premier plan de systèmes d’usinage ultra-précis, annonce l’inauguration de son centre mondial de formation et de développement de processus à Charlotte, en Caroline du Nord.

Mark Boomgarden, président-directeur général de Nanotech, a déclaré : « Nanotech est très heureuse d’annoncer l’inauguration de son centre mondial de formation et de développement de processus à Charlotte, en Caroline du Nord. Bien que l’objectif initial de cette installation soit de fournir une formation spécifique aux clients et un développement de processus à la pointe de l’industrie, elle procure également à Nanotech une capacité de production supplémentaire pour répondre aux demandes d’un marché en rapide expansion. »

Nanotech a récemment acheté et achevé l’aménagement d’un bâtiment de plus de 4 500 m2 situé dans le Northpark Corporate Park, à Charlotte, en Caroline du Nord.

La technologie fondamentale et la base d’employés de Nanotech se trouvent à Swanzey, dans le New Hampshire, et cette base est fondamentale pour les produits et services qu’ils fournissent. Mais à mesure que l’organisation continue de croître, Nanotech a besoin d’un écosystème pour stimuler et accélérer cette croissance, et la région de Charlotte lui permet d’accéder à une université de classe mondiale, à un aéroport international et à une ville dotée de l’infrastructure nécessaire pour soutenir une empreinte mondiale.

Robert Keynton, doyen de l’ingénierie à l’université de Caroline du Nord à Charlotte, a commenté : « L’un des avantages de voir Nanotech étendre ses installations ici à Charlotte est que cela renforce nos collaborations et nos relations, afin d’inclure le recrutement de nos étudiants. » M. Keynton a ajouté : « Mais cela lui permet également d’accéder aux recherches de pointe que notre corps professoral effectue et d’intégrer ces connaissances dans ses systèmes. »

Nanotech continue d’enregistrer une croissance significative alors que les exigences des systèmes optiques se complexifient et évoluent des applications réelles aux applications virtuelles. Les connaissances et le développement des processus nécessaires pour soutenir la fabrication de ces systèmes ont également considérablement augmenté.

Scott Gerhart, vice-président des ventes et du service chez Nanotech, a commenté : « La formation et l’assistance aux applications sont essentielles à nos offres de produits et de services, et sur les marchés actuels, sont attendus par nos clients. » M. Gerhart a poursuivi : « Pour cette raison, notre entreprise dépend de l’embauche des meilleurs talents disponibles dans le secteur de l’usinage ultra-précis. Les étudiants qui ont complété les programmes de formation à la fabrication de précision et la métrologie de l’université de Caroline du Nord à Charlotte sont extrêmement bien préparés pour le type de rôles dont nous avons besoin pour réussir chez Nanotech. »

Paul Vermette, vice-président de l’ingénierie, a déclaré : « Alors que nos clients continuent de faire progresser leurs capacités internes pour répondre aux exigences de l’industrie en matière de produits, Nanotech continue de garder 1 à 2 générations d’avance. » M. Vermette a ajouté : « Notre feuille de route sur 5 ans en matière de produits et technologies est construite avec la contribution des clients qui, lorsqu’elle est combinée à nos investissements internes, fournit à Nanotech l’orientation stratégique requise pour atteindre ces objectifs. »

Cette nouvelle installation de Nanotech est située au 6510 Northpark Blvd, à Charlotte, à quinze minutes du centre-ville et de l’aéroport international de Charlotte/Douglas. L’installation a été rénovée en 2022, pour inclure la construction de salles blanches de classe 10 000, dotées de plaques d’isolation en béton de 60 centimètres et avec un contrôle de la température allant jusqu’à +/- 0,1 °C. En outre, l’installation a été modernisée pour inclure un espace de fabrication de grande hauteur à température contrôlée, ainsi qu’un complexe de formation de pointe pour soutenir l’engagement des clients.

Moore Nanotechnology Systems (Nanotech) a été fondée à Keene, dans le New Hampshire, en 1997, en tant que filiale autonome de Moore Tool Company. En 2010, la société a déménagé dans une installation moderne et spécialement construite à Swanzey, dans le New Hampshire, et a ouvert une installation à Concord, en Caroline du Nord, en 2020. Depuis plus de 25 ans, Nanotech est un leader mondial en conception, développement et fabrication de machines-outils ultra-précises à la pointe de la technologie et en processus associés (fraisage au diamant mono-point, micro-usinage, micro-rectification et moulage par pression de verre) pour la production de composants optiques avancés dans les secteurs de l’électronique de grande consommation, de la défense, de l’aérospatial, de l’éclairage, de la santé et de l’automobile. Moore Tool, fondée en 1924 et située à Bridgeport, dans le Connecticut, est présente depuis longtemps sur les marchés des machines-outils de précision et de très haute précision. Aujourd’hui, Moore Tool fournit une gamme complète de rectifieuses CNC haute performance, ainsi que des services de fabrication de précision en sous-traitance certifiés selon les normes ISO 9001:2015 et AS9100C. Moore Nanotechnology Systems et Moore Tool sont des entreprises à intégration verticale de PMT Group.

Moore Nanotechnology Systems : www.nanotechsys.com
Moore Tool, Inc : www.mooretool.com

Pour tout complément d’information, veuillez contacter : sales@nanotechsys.com

Vinamilk est reconnue comme la « sixième marque laitière la plus valorisée » au monde en 2022 selon Brand Finance

HÔ CHI MINH-VILLE, Vietnam, 4 octobre 2022 /PRNewswire/ — Vinamilk, le principal fabricant de produits laitiers du Vietnam, a franchi une nouvelle étape en se classant au 6ème rang du top 10 des marques de produits laitiers les plus valorisées, selon Brand Finance.

Brand Finance offered Vinamilk’s brand value certificate to the company’s representative

La valorisation d’un montant de 2,8 milliards de dollars américains de cette année représente une hausse impressionnante de 18 % par rapport à 2021, ce qui confirme la position de leader de Vinamilk. Plus précisément, dans le secteur des produits laitiers, elle a été classée comme la marque laitière la plus prometteuse et continue de figurer parmi le top 5 des marques de produits laitiers les plus solides, arrivant en 2ème place. C’est un résultat remarquable pour Vinamilk en tant que seule représentante de l’Asie du Sud-Est à figurer dans le top 10 du classement, tant pour la valeur que pour la force de la marque. Vinamilk laisse également son empreinte dans les principaux classements alimentaires tels que les 30 marques alimentaires les plus valorisées et les 10 marques alimentaires les plus fortes.

Vinamilk’s brand value growth (2019 – 2022)

En outre, selon le rapport national, Brand Finance a également reconnu Vinamilk comme la marque alimentaire la plus valorisée au Vietnam.

« Le rôle important de la marque est bien connu de Vinamilk tout au long du développement de l’entreprise, en particulier dans le secteur de l’alimentation et des boissons et celle de l’industrie laitière en particulier. Tout au long de ses 46 ans d’existence, Vinamilk a continuellement accru la valeur de sa marque conformément à nos piliers fondateurs : la qualité des produits, le service et notre réputation parmi les consommateurs », a déclaré Mme Bui Thi Huong, directrice générale de l’administration, des ressources humaines et des relations publiques de Vinamilk.

Vinamilk’s recent activities in Australia Fine Food trade fair

Elle est également convaincue que les entreprises vietnamiennes se concentreront et mettront tout en œuvre pour obtenir un meilleur rang dans les classements mondiaux, affirmant ainsi la position et la valeur des marques nationales vietnamiennes.

Chaque année, Brand Finance met à l’épreuve 5 000 des plus grandes marques au monde, dans 29 industries réparties dans 39 pays. Grâce à une méthode de mesure intégrée prenant en compte divers facteurs liés à la marque tels que l’impact, la santé et la réputation, l’investissement et d’autres encore, combinés à des données financières et d’enquête, le rapport annuel sur l’alimentation et les boissons publié par Brand Finance fournit des évaluations de la santé des marques de manière transparente, équitable et objective.

Les changements par rapport au rapport 2021 de Brand Finance suggèrent que les marques qui investissent dans la force intrinsèque, se concentrent sur les valeurs fondamentales et sur la vision à long terme, sont plus susceptibles de surmonter l’incertitude en période de crise, et se développent davantage par l’innovation et la continuité pour répondre aux besoins croissants des consommateurs.

Les investissements de Vinamilk ont également été reconnus par d’autres organisations locales et internationales. Le rapport Brand Footprint 2022 publié par Worldpanel, Kantar a souligné les résultats obtenus par Vinamilk au cours de la décennie en maintenant sa position de leader dans le top 10 des marques de produits laitiers les plus choisies au Vietnam.

En outre, Vinamilk a également été honorée pour la dixième fois consécutive dans le classement Forbes des 50 sociétés les mieux cotées au Vietnam, et est reconnu comme l’une des marques « Vietnam Value » par VIETRADE depuis 2010.

Présente dans 57 pays et territoires avec un chiffre d’affaires total cumulé à l’exportation de 2,75 milliards de dollars américains, Vinamilk poursuit ses recherches et développe de nouveaux produits pour accroître sa pénétration sur les principaux marchés d’exportation.

Depuis début 2022, l’entreprise a participé activement à un certain nombre d’activités commerciales internationales et de foires alimentaires en Chine, à Dubaï, au Japon, en Corée du Sud et en Australie pour présenter la gamme de produits de Vinamilk, ainsi que pour la recherche d’opportunités d’expansion internationale.

À propos de Vinamilk

Fondée en 1976, Vinamilk est la première entreprise laitière du Vietnam. Elle figure parmi les 40 plus grandes entreprises de nutrition du monde en termes de revenus et parmi les 10 marques de produits laitiers ayant le plus de valeur au monde. Vinamilk gère actuellement 17 usines et 15 fermes laitières au Vietnam et à l’étranger.

Photo – https://mma.prnewswire.com/media/1910811/1.jpg

Photo – https://mma.prnewswire.com/media/1910812/Vinamilk_Brand_Value_Graph__1.jpg

Photo – https://mma.prnewswire.com/media/1910813/KDQT__c_1.jpg

Saint Lucia: The largest economy in the East Caribbean offers impressive business opportunities

CASTRIES, Saint Lucia, Oct. 04, 2022 (GLOBE NEWSWIRE) — As the world has faced various uncertainties in last two years and investors, High Net-Worth Individuals started finding alternative options to keep their investments safe and secure. To overcome the effects of the Covid-19 pandemic, reviving the economy has proved a major challenge for many countries. The world’s largest economies have been affected, with many suffering from declining growth. In response, many investors have been hesitant to invest, seeking out economies that can provide sufficient returns at minimal risk.

In this context, the Eastern Caribbean nation of Saint Lucia has emerged as a new favourite for investors. This is due to its growing economy, stable business environment and tax regime which supports the growth and development of its businesses, investors and citizens.

Launched in 2016, the Citizenship by Investment Programme (CIP) of Saint Lucia is one of the top performers in the Caribbean region. As the demand for the programme such as this skyrockets amongst high net-worth individuals (HNWIs), the newly elected government is striving to utilise the funds brought in by the programme to develop more advanced public infrastructure and uplift the standard of living of its people.

Despite being the newest Caribbean programme in this industry, Saint Lucia offers an advanced, secure and transparent programme. With more foreign direct investments coming into the country via its prestigious CIP Programme, the government is preparing a roadmap to engage in constructing and uplifting schools, roads, health care, and other public infrastructures through the funds generated by the Citizenship by Investment Programme.

The actions and fiscal policies adopted by the government have steered the country out of previous difficulties, promoting the development of an attractive economic environment. In recent years, the country has maintained a steady pace of recovery and has emerged as one of the top choices for the HNWIs.

According to the Economic Commission for Latin America and the Caribbean, Saint Lucia is projected to have its highest GDP growth in 2022. This growth is likely to continue in the coming years, due to its thriving tourism industry.

This year, in particular, will be a breakthrough one for the Caribbean island, with statistics reflecting an estimated 13.1% growth in the first six months of 2022. This success is thanks to the country’s policy of welcoming direct foreign investment and channelling these funds into the most productive sectors of the economy. This means that investment benefits both the investors and citizens of the country, with Saint Lucia ranking 93 out of 190 countries in the World Bank’s ease of doing business index for 2022.

Once an agriculture-based economy, with the banana industry employing the majority of its citizens, Saint Lucia has now altered course and also focuses on tourism and banking services. By taking this course of action the island nation has changed its fortune, breaking free of its dependence on agriculture, the country has reformed its economic structure. With its tourism industry now constituting 65% of its GDP, it has also become a preferred destination for foreign investors. The industrial setup in Saint Lucia is far easier to navigate than many other countries.

The Government does not limit the amount of foreign ownership or control in the establishment of a business in Saint Lucia, allowing 100 percent foreign ownership of companies in any sector.  Currently, there are no restrictions on foreign investors investing in military or security-related businesses or natural resources.  Trade licenses and other approvals/licenses may be required prior establishment.

The island has long been considered a top honeymoon destination, but tourism has grown substantially in recent years, with the country attracting approximately 900,000 tourists per year. Investors have therefore generally looked towards the accommodation and hospitality industry. Developing tourist sites and catering to the needs of its large number of visitors, investors have discovered major opportunities for gaining prominent returns on minimal risk investments.

The country will welcome a 345-room Grand Hyatt luxury Hotel in Sabwisha in 2023. The economic boost offered by such large-scale projects is substantial. At least 2,000 Saint Lucians are expected to gain employment through the hotel’s operations and management.

But Saint Lucia isn’t only a hub for tourism. The country is abundant in natural resources, with great scope for developing these in sustainable and eco-friendly ways. In 2021, the World Bank approved a $21.9 million (USD) loan for developing the renewable energy sector in Saint Lucia.

With the loan, the country aims to increase its geothermal and hydroelectric capacity. These plans respond to the call for governments worldwide to transition to and establish socially and environmentally responsible business environments. Additionally, the scheme will reduce the cost of energy on the island, lowering financial stress on businesses. Drawing on renewable energy sources, the country will also be able to facilitate and improve support for energy-intensive industries.

In a move to boost manufacturing and exports, Saint Lucia has also introduced tax holidays for manufacturing units. This is one way in which the government aims to widen its manufacturing base and increase its exports while also encouraging the use of local materials and labour. Approved manufacturing enterprises are entitled to a tax holiday for up to 15 years, depending on the local value provided by approved products.

Businesses also receive income tax incentives as well as other fiscal concessions. These are regulated through the Fiscal Incentives Act, Tourism Incentives Act, Special Development Areas Act and varied concessions granted by the Cabinet of Ministers. Alongside these incentives, the government also allows for the duty-free import of raw materials, machinery, components and equipment. It also offers income tax waivers for up to 100% of companies engaged in manufacturing, tourism and agriculture.

In addition to the above, Saint Lucia hosts a dynamic and steady workforce, from varied professionals to highly-skilled tradesmen and labourers. This budding workforce is available to plan, organise, execute and control business undertakings, supporting new businesses on the island.

In these ways Saint Lucia offers a highly conducive business environment which has been drawing investors from all over the world. Many High Net Worth Individuals (HNWIs) have shown a keen interest in becoming citizens of Saint Lucia, an opportunity provided for by the country’s prestigious Citizenship by Investment Programme (CIP).

SAINT LUCIA: CITIZENSHIP BY INVESTMENT PROGRAMME (CIP)

Saint Lucia is the latest Caribbean country to open its borders to Citizenship by Investment. Although the programme was launched just six years ago, it is already considered one of the top three countries for Citizenship by Investment, according to the CBI Index of 2022. The CIP of Saint Lucia provides numerous benefits such as:

1: Providing investors with global citizenship

2: Delivering opportunities for diversifying investors’ portfolios

3: Planning wealth and business expansion overseas

4: Gaining a citizenship that can be passed down to future generations.

Saint Lucia’s Citizenship by Investment programme is also notable for the ease of its application process. This includes five steps:

Step 1: Completion of the application by applicants.

Step 2: Submission of the application via the CIP Portal.

Step 3: Document verification by the CIP Unit and stringent due-diligence checks.

Step 4: The selection or rejection of the application by the board.

Step 5: The provision of certification, subject to selection.Contact
St Lucia PR
pr@csglobalpartners.com
T: +44 (0)20 7318 4343