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CEO of Invest Durban, Russell Curtis has seen business confidence soar since the new Government of National Unity (GNU) assumed the reins of power in South Africa in 2024. The new political dawn has introduced an enhanced enabling environment in Durban, helping to usher in the present improved political reality.

Out with the old
The African National Congress (ANC) had ruled South Africa largely unopposed for decades. Frustratingly, for those keen to see the country’s economic potential fulfilled, this unchecked authority saw inefficiencies embedded, divisive policies implemented, and corruption became pervasive and endemic. Cumulatively, this acted to discourage much needed foreign direct investment.

In this  interview, Octavian Charles, CEO of Invest Saint Lucia, shares insights into the island nation’s unique investment landscape, growth potential, and strategic initiatives aimed at attracting and supporting global investors

Henry Martin: What unique incentives and opportunities does St Lucia offer to attract new investors, particularly from which regions is the country actively seeking investment?

Octavian Charles: In promoting Saint Lucia as an ideal investment location, Invest Saint Lucia does not practice an over-reliance on incentives. What we have found is that our unique product has been our primary selling point. Saint Lucia offers an inviting mix of an agreeable climate, warm people and a welcoming culture which makes investors fall in love with the island and the lifestyle it promises. This, coupled with the available incentives of VAT exemption, duty free importation, free repatriation of profits and income tax exemptions, positions Saint Lucia as a leading investment location.Our main markets have been USA and UK but in recent years the agency has witnessed an uptick in investment from the Asian and European markets and is currently exploring avenues to attract interest from new regions such as Africa.