STAR Businessweek - 21 April 2018

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INVESTING FOR GROWTH

LOW LEVELS OF INVESTMENT ARE HOLDING THE CARIBBEAN BACK FROM ACHIEVING ITS FULL ECONOMIC POTENTIAL

BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT

Commonwealth dreams refuse to become reality Unfurl the flags, dig out the bunting, the Commonwealth is in town. This is one of those weeks when London likes to see itself as the centre of the world — or at least the good chunk of it represented by the Commonwealth Heads of Government Meeting.

Page 3

May says sorry to Caribbean leaders over Windrush scandal Theresa May told Caribbean leaders face to face on Tuesday that she was “genuinely sorry” for the harassment of up to 50,000 British people of Caribbean origin, who have been asked to prove they have the right to stay in the UK. Page 7

When it comes to public investment, governments across the Caribbean are not getting enough bang for their bucks - and it’s hurting the region’s growth rate.

Continued on page 4

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VIRTUALLY HOPELESS? The Rise of Virtual Reality in Caribbean Tourism

BY ED KENNEDY, STAR BUSINESSWEEK CORRESPONDENT

The STAR Businessweek

BY CHRISTIAN WAYNE – EDITOR AT LARGE

STAR Businessweek correspondent Ed Kennedy may still be reeling from his recent experimentations with the emergent technology of virtual reality – read more about its implications on the tourism industry in ‘Virtually Hopeless? The Rise of Virtual Reality in Caribbean Tourism’.

But this week’s top stories arrive to us all the way from the City of London.

The Age of Discovery saw a British Empire of global, hegemonic proportion – as history’s narrators wrote, it was the empire on which the sun never set. The City of London, at that time, was unarguably a truly global city, but ignoring the pesky historical footnotes like genocides, slavery, and colonialism for a moment, I can’t help but wonder if it’s that Global Britain the Brexit Leavers want a beckoning back to.

If it is, Theresa May’s Home Office hasn’t received the memo. Earlier this week, leaders of Caribbean governments (and the rest of the Commonwealth) descended upon London for the Commonwealth Heads of Government Meeting – the first time in 20 years the meeting has been held in the UK (thanks less to May’s hospitality and more to a tropical cyclone that rendered the original host, Vanuatu, incapable).

Having originally rebuffed the group’s request for Ms. May’s attendance at the London meetings, the UK prime minister quickly back-peddled once enough Britons grew publicly incensed at her dismissal of Commonwealth leaders in the wake of what has become the Windrush Immigration issue.

Many people, rightly so, are closely studying the fate of the Windrush generation as they believe it is potentially indicative of the fate of the hundreds of thousands of EU citizens living in a post-Brexit UK. “Genuine apologies” were expressed by May and Home Secretary Amber Rudd, reported Caribbean government press secretaries from around the region. May’s “hostile environment” immigration policy, however, remains in effect.

The STAR Businessweek Nothing Personal. It’s Just Business.

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The next chapter of tourism will be more digital and interactive than ever before

By many measures Virtual Reality (VR) is the sleeping giant of today’s tech world. Sure, there are numerous forms of emerging tech that are set to change the way we live, work, and have fun.

But none come with the potential that VR does to fundamentally alter how we go about our daily lives. Like any form of growing technology, there can be pros and cons in this change.

This applies to our world as a whole, but also to the Caribbean on a local level. Within our region VR is set to drive a new conversation in a variety of sectors from tech and tourism, to education and media. And understanding the issues posed by this new tech will be essential to seizing its opportunities.

A LONG TIME COMING

Some cutting edge technology on the tip of our tongues right now has emerged out of nowhere. Blockchain is a solid example of this, coming into being less than 10 years ago with the advent of Bitcoin. Other technology, like the electric car, has long been at the edges of our pop culture consciousness and, in recent years, has been brought to the centre with the success of Tesla and Co. The present era of the VR industry is one that mixes equally history and new innovation. As a sci-fi trope and beacon for future tech, VR had long been forecast as something human beings would use more widely in an undefined future. In the 1990s, the thenVR industry sought to make a splash in our daily lives, doing so alongside the rise of home video games consoles.

Ultimately this push wasn’t successful and, though it owed to a variety of reasons, the limitation of technology at the time was a huge factor. Dreamers envisioned a VR world that was truly vivid and immersive. Instead they were offered choppy, blocky graphics. Fun, sure, but nothing that held a serious ambition to transport you from your daily life to another world. And so, after some big noise and hype, the VR industry of the 1990s ultimately withdrew to the shadows.

While VR didn’t take off in the 1990s, recent years have seen

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it re-emerge, and this time with staying power. The strong support from major software companies, the advance of capability, and the ubiquity of smartphones have all altered the landscape to create favourable conditions for strong and enduring growth of the VR industry.

But while growth is usually a great thing, the rise of VR will create new issues in our region.

THE EMERGING CHALLENGES OF VR IN THE CARIBBEAN

In some respects we are at a “VR disadvantage” in the Caribbean. And we at The STAR Businessweek are not in the business of usually seeing this borne out. Because when you examine the future of cars, blockchain, and other innovations, it’s clear the story of emerging tech as a whole is one of immense promise for our region. But it’s because of our existing strengths that VR is a challenge.

To many people around the world, lying on a Caribbean beach is a vision of perfect bliss. It’s understandable then why many developers saw the value in trying to replicate this experience within the VR universe. As well as VR apps offering the opportunity to enjoy the likes of Maho Beach in Saint Maarten via VR, cruise liners like the Royal Caribbean are also getting in on the act.

In one respect it’s easy to recognise the possibility for these VR ventures to be a real asset for Caribbean tourism. After all, ‘nothing is as good as the real thing,’ right? But it’s also easy to understand how the rise of VR in this sphere could be risky, especially when local tourism providers have little-to-no input on what’s showcased in the digital dimension.

For though nobody would suggest a few minutes in a VR headset would fairly replicate the joys and experience of a Continued on page 5

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COMMONWEALTH DREAMS REFUSE TO BECOME REALITY

An event meant as a celebration started with an anguished Windrush apology

BY FT CORRESPONDENT

empire. Now, an event that was meant to be a confident celebration ended up kicking off with an anguished apology.

The Commonwealth’s Brexit prospectus is not without appeal. In terms of geographical range, size, demographics, diversity and economic growth prospects, the 53-nation grouping packs a punch. It spans six continents, and with 2.4bn members it makes that other great global institution, the Catholic church with its flock of about 1.3bn, look a tad short-staffed. There are similarities within its political and legal systems; it brims with soft power and networks. Add a splash of regal glamour — the Queen heads the organisation and her son Prince Charles might well be tapped this week as her successor — and it is quite a show.

The Commonwealth is also not without achievements. It was a forum in the fight The Commonwealth Heads of Government Meeting in Malta in 2015 © AFP

Unfurl the flags, dig out the bunting, the Commonwealth is in town. This is one of those weeks when London likes to see itself as the centre of the world — or at least the good chunk of it represented by the Commonwealth Heads of Government Meeting.

The timing could not be better. As Britain progresses towards the selfinflicted deadline of Brexit — 49 weeks and counting — the Commonwealth is being heralded as the stage on which the next act, Global Britain, will play out.

If only political reality would play ball. Just as the marketing initiative for CHOGM — as the jargon has it — went into overdrive, the UK government had to acknowledge its “appalling” treatment of part of the “Windrush generation” of

Commonwealth citizens who had lived and worked in Britain for decades and yet were subject to official harassment and the threat of deportation. Initially the government declined a request for Theresa May to meet Commonwealth leaders in town for CHOGM, only to beat a hasty retreat after a public outcry.

For an outfit where the rhetoric and mood music is all about shared values and dialogue, this looks distinctly odd. It suggests that, for all the talk of a community that has overcome the difficulties of a complex past, the reality remains harder still.

It also somewhat takes the wind out of the sails of ministers, officials and Brexiter cheerleaders, who have all been busy talking up the prospects of an enhanced trading system among the Commonwealth’s members, most of which were once part of the British

The Commonwealth’s Brexit prospectus is not without appeal. In terms of geographical range, size, demographics, diversity and economic growth prospects, the 53-nation grouping packs a punch

against apartheid. It provided technical expertise to smaller nations. Yet, in the telling phrase of Philip Murphy, author of The Empire’s New Clothes about the Commonwealth, the grouping has also been something of a “grandfather clock”: a nicely veneered hand-medown that has slightly lost its sense of time and works only if not too much is asked of it.

Members have very different views about its character and purpose. A visit a few years ago to Marlborough House, the elegant central London mansion that the Queen made available to the organisation, left an impression of a well-meaning but slightly aimless place. Even its cheerleaders have had their doubts. A 2010 survey by the Royal Commonwealth Society found that many people living in member countries knew little of its existence.

Meanwhile, it noted, the flotilla of Commonwealth civil society and professional organisations were “too aged, too male and too white”.

And then came Brexit. The possibilities of the Commonwealth had long been identified by those who would go on to become leading figures in the Leave campaign.

As well as reclaiming past glories, it offered a modern, upbeat alternative to the hated and moribund EU. Look to the glorious past to describe a brighter future and all that. Once again, Britain would take to the high seas in a great adventure that would see every hardpressed sales rep recast as a latter day Sir Francis Drake. There was even overexcited talk of the US coming on board. (They could have a tea party to celebrate; a nice waterside location might serve as a suitable venue.)

There are no doubt some gains to be had by improved business ties with the Commonwealth. But there are limits to what one can expect. But, as the Windrush case shows, converting the lofty ambition associated with the Commonwealth into practical effect will always be a challenge.

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PPPs help the public sector share the risk, and the cost, of infrastructure investment.

INVESTING FOR GROWTH

Low levels of investment are holding the Caribbean back from achieving its full economic potential

Continued from page 1

With forecasted GDP growth of just 1.9 per cent in the coming year, Latin America and the Caribbean is trailing the rest of the world’s economies. Why is the Caribbean falling behind? The Inter-American Development Bank (IDB) suggests two reasons: the region is investing less, and producing less. And the Caribbean doesn’t just invest less than faster-growing regions, it also invests poorly - choosing areas that are rife with inefficiencies and don’t contribute to island economies in any meaningful way.

“Most of the region is back on the growth path,” said IDB Chief Economist José Juan Ruiz. “However, growth is too slow to satisfy the desires of the region’s expanding middle class. The single, biggest challenge is increasing the levels and efficiency of investments to make the region more productive, make growth

faster, more stable and shield the region more from external shocks.”

LOW INVESTMENT

Public investment in Caribbean states has been trending downwards for many years, averaging around 5 per cent of GDP since 2001. This can be attributed to a number of factors including dwindling public savings, a lack of good investment opportunities and prohibitive interest rates. Countries with low levels of domestic savings often turn to foreign lenders to cover their investment shortfall, which can start a cycle of indebtedness that leads to one financial crisis after another. Crime, corruption and general bureaucratic inefficiency have also stifled the market and given rise to a system of public spending that’s beset by leakages.

When public investment does occur, it

often fails to get the best value for its dollar.

This is partly due to a deeper problem in island economies - lack of productivity. The region’s business landscape is dominated by Small- and Medium-sized Enterprises (SMEs) with limited resources and low output. These tiny firms are also more reluctant or unable to embrace new technologies, hampering their ability to scale up and contribute more.

The knock-on effect of low productivity is an inefficient economy which, in turn, has a dampening effect on investment.

GETTING CREATIVE

In his budget address, delivered earlier this month, Prime Minister Chastanet outlined his government’s plans for public expenditure.

These included investment in education, agriculture, tourism, sports facilities and local government community projects. The

government also intends to invest around $70m in infrastructure over the next four years, focusing on the road network and improving climate resilience. The Hewanorra Airport will also be redeveloped in a phased expansion and the Pointe Seraphine cruise ship terminal will be revamped and modernised.

In total, Saint Lucia’s government has a budget of almost $1.5bn for the coming financial year (19.2 per cent or $284.63m of that is allocated to capital expenditure).

Finding the funds for public investment is a longstanding challenge for every Caribbean nation. Covering the investment gap requires striking a delicate balance between looting the public treasury and recouping that revenue through taxes or other punitive measures. Governments have to get creative if they are to funnel money into services and infrastructure in a way that will spur growth,

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rather than fall through the cracks.

Two sources of revenue that can increase investment without building debt are grants and Public-Private Partnerships (PPPs). The former must be distinguished from loans, which are often offered at high interest rates and can worsen the public debt in the long term. Grants, on the other hand, are a lowrisk solution for targeting specific needs. In 2018, Saint Lucia is set to receive $69.69m in loans from institutions and governments around the world. These include the World Bank, the Japan International Cooperation Agency and the United Nations Environmental Programme.

PPPs help the public sector share the risk, and the cost, of infrastructure investment.

Countries in Latin America and the Caribbean have been using PPPs since the late 1980s, with varying degrees of success. Saint Lucia formally adopted its own PPP policy framework in 2015. The potential benefits of PPPs are high, with the private sector not only providing funding but also skills and experience. However, if private firms are to be tempted into the public sphere, there needs to be a high level of investor confidence.

According to the IDB, 90 per cent of investors in Latin America and the Caribbean believe institutional weaknesses are a barrier to increasing infrastructure investment. Better planning to avoid waste, cost overruns and delays is necessary, and this can be achieved through more streamlined government.

BECOMING GROWTH-FRIENDLY

Investments funded by the public purse need to be carefully selected, and backed by thoughtful cost-benefit analysis. Where private sector partners are chosen to share the burden, these too must be subjected to a thorough vetting process to ensure they have the appropriate skills, experience and resources.

In boosting investment, policymakers should note that both quantity and quality are important. Increased expenditure would be welcome, but only if it flows into areas that will deliver significant returns. Investment in the right niche can spur productivity - enhancing the development of new technology, products and markets.

At present, the world economy is strengthening with global growth on the rise. Commodity prices are stabilizing and central banks around the world continue to recover from the recession. But no-one knows what’s around the corner. There will always be risk, particularly given the move towards protectionist policies in some parts of the globe.

To hedge against any upheaval, the Caribbean has to look inward, developing policies that focus on increasing both investment and productivity. Ruiz says: “Regardless of developments in the world economy, crafting and implementing the right domestic policies will allow countries to achieve more rapid growth.”

Washington D.C. — Inter-American Development Bank headquarters

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VIRTUALLY HOPELESS? The Rise of Virtual Reality in Caribbean Tourism Continued from page 2

Virtual reality is a broad category of underlying technologies such as mixed reality and augmented reality

trip to a Caribbean nation, there is also the cost-benefit ratio. A prospective tourist in a US home or European apartment won’t think a VR trip compares to a real visit to our region but they may be more reluctant to spend $1,000 on the journey here once they’ve had a VR experience.

A VIRTUAL VISION Ultimately, local providers can’t control VR growth abroad, but by seeking to seize upon its benefits at home they can counterbalance the potential negatives of greater VR use. However you look at it, the next chapter of tourism will be more digital and interactive than ever before.

This applies not only to bookings done via AirBnB but ‘pre-experiences’ of activities by tourists.

And it’s here that Caribbean tourism can make real inroads, locally and face-to-face with the customer. Sure, a VR app, like Ocean Rift, that allows for cage diving with sharks would be fun to have in use in the hotel games room but what about trying the real

thing later that afternoon?

And OK, a VR ride down one of Saint Lucia’s great mountain biking trails could be kinda cool but could some graphics inside a digital headset ever really hope to replicate the rush of your pulse or the feeling of the wind in your hair as you careen down a path? VR is certainly a space of much potential and excitement but it has a long way to go before it can hope to replicate reality.

If VR is used as a tool to market tourism activities more dynamically, it’s an asset instead of a liability.

True, this may not deliver a reluctant tourist, who has had a VR Caribbean experience at home, on to a plane to our region but it would mean that once a tourist has arrived, VR offers the capacity to showcase in a new way all the activities and experiences on offer beyond the brochures and social media happy snaps.

And given that Millenials are increasingly seeking shorter and more potent trips over longer and more relaxed stints - with 83%

saying they’d prefer multiple short trips instead of a single long vacation each year VR provides a new road for local tourism to really sell the ‘enjoy it all while you’re here’ package.

THE REALITY OF IT

While VR is rapidly growing, it also still has a big development path ahead of it. A number of VR apps are wonderful and pioneering but others are gimmicky and offer only quick fix fun.

These offerings are nothing to sneer at but they do signify that it will be a long while before tourists begin seriously viewing a few hours in a VR headset as a real alternative to a weekend in the Caribbean, if they ever do at all.

And in the meantime there is the chance for the Caribbean tourism industry to have the conversation about how VR could be utilised as a vehicle to enhance instead of hinder our local businesses.

And the prospect of not only embracing VR, but combining its implementation with the greater adoption of other new tech like blockchain, is surely a key point for discussion going forward.

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CORPORATE

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HANDS

600 ST. LUCIANS RECEIVE FREE HEARING AIDS FROM STARKEY HEARING FOUNDATION Hundreds turned out at the National Cultural Centre last week to be fitted with hearing aids from the Starkey Hearing Foundation. The smiles on the faces of recipients and their family members who accompanied them was overwhelming.

The Ministry of Health and Wellness worked hand in hand with the Starkey Hearing Foundation to bring the gift of hearing to many Saint Lucians with hearing difficulty.

Foundation and Health officials were pleased with the huge response by the public to receive their free hearing aids. Assistant Principal Nursing Officer Tecla Jn Baptiste said it was a joy to see the smiles on the faces of recipients.

“It’s really a pleasure collaborating with Starkey Hearing Foundation for this mission to bring the gift of hearing to our people in Saint Lucia. I feel so overwhelmed today to see persons who have had hearing difficulties and persons who are hearing impaired walk out here and say to me, ‘Nurse, I feel so good today. I mean I could hear and I don’t know how much I could thank you all for this.’ But it’s really been a great day. It’s been a lot of effort into this and, of course, it won’t just stop after this mission.”

Minister for Health and Wellness, Sen. Hon. Mary Isaac was impressed with the number of persons who turned up to get their hearing improved.

“A lot of people who are here have had trouble hearing. They have never enjoyed the sounds that most of us enjoy hearing. The sound of their loved one’s voice, the sound of their children, and just to be given such a precious gift for free, I believe this is just tremendous.”

One recipient, Mr. John D’Auvergne, gave the Starkey Hearing Foundation high praise for the quality of the devices and the aftercare service they will provide: “Excellent!

In fact I have gone to my ear specialist and the hearing aids that were suggested were in the region of almost $3,000. Such a thing by Starkey Foundation, I think, is humanitarian because I am receiving two hearing aids which would have cost me almost $6,000 and that is for free; added to that, free batteries for a lifetime!”

Founder of the Starkey Hearing Foundation, Dr. William F. Austen, was on island and personally fitted hearing aids for clients. He talked of the joy he gets in doing

Starkey Hearing Foundation is the philanthropic arm of Starkey Hearing Technologies which employs over 5,000 people worldwide

this line of work.

“So, it’s wonderful to be able to connect someone to life and let them be part of life again and that’s the great joy we get in our work. I’ve done it for 57 years. I’ve never killed a patient and I have helped almost all of them and so it’s a good job.

I like my job and I’ll keep doing it as long as I can.”

Prime Minister Hon. Allen Chastanet applauded the high level of organisation and planning which went into this event and for the Starkey team choosing Saint Lucia as one of the beneficiary countries:

“And it’s so great to see a person as successful as Dr. Austen putting together this programme.

I understand it’s in over 60 countries through his foundation and I am very proud of the staff, the Ministry of Health, our nurses, doctors and everyone who embraced it. Because, it’s about the people, and so to impact 600 people’s lives just this year alone. And what I am even more impressed with is the facilities they have put in for the follow-up.”

Persons were not only fitted with hearing aids but received counselling on what to expect with the new hearing aids including how to operate and care for the device.

The Saint Lucia Government Gazette Company Registration Name: Vive Foods Inc.

Name: The Kronos Too Corporation

Description: Restaurant and

Description: Land holding

health product retail

Directors: Turkessa Marcia; Marsha Benjamin

Directors: Sancha Isidore

Date Incorporated: 6-Apr-18

Date Incorporated: 6-Apr-18 Chamber: Pierre, Mondesir & Associates, Saint Lucia

Chamber: TM Antoine Partners Chambers, Saint Lucia

Name: Excellent Stores (Saint Lucia) Ltd.

Name: Chestertons Ltd.

Description: General convenience store

Description: Real estate agency

Directors: Franco Siu Chong; Richalene Siu

Directors: Mark Maragh

Chong; Alexis Siu Chong; Lisa Siu Chong

Date Incorporated: 6-Apr-18

Date Incorporated: 6-Apr-18

Chamber: Amicus Legal, Saint Lucia

Chamber: RDM Chambers, Saint Lucia Name: Excellent Lendings Ltd.

Name: La Lune Couchant Inc.

Description: Property holding company

Description: Property holding company

Directors: Franco Siu Chong; Richalene Siu

Directors: Niameki Charles

Chong; Alexis Siu Chong; Lisa Siu Chong

Date Incorporated: 9-Apr-18

Date Incorporated: 6-Apr-18

Chamber: Brickstone Law, Saint Lucia

Chamber: RDM Chambers, Saint Lucia Name: The Kronos Corporation Description: Land holding

Name: Greenidge Holdings Ltd. Description: Property holding company

Directors: Thaddeus Marc Antoine

Directors: Amanda King-Greenidge;

Date Incorporated: 6-Apr-18

Charles Greenidge

Chamber: TM Antoine Partners Chambers,

Date Incorporated: 9-Apr-18

Saint Lucia

Chamber: Brickstone Law, Saint Lucia

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MAY SAYS SORRY TO CARIBBEAN LEADERS OVER WINDRUSH SCANDAL Home Office will not deport 35-year-old Mozi Haynes to St Vincent

BY FT CORRESPONDENT

Jamaica prime minister Andrew Holness (centre), Saint Lucian prime minister Allen Chastanet (left of centre) with other members of the Commonwealth delegation in Downing Street © PA

Theresa May told Caribbean leaders face to face on Tuesday that she was “genuinely sorry” for the harassment of up to 50,000 British people of Caribbean origin, who have been asked to prove they have the right to stay in the UK. “I want to dispel any impression that my government is in some sense clamping down on Commonwealth citizens, particularly those from the Caribbean,” said the British prime minister.

Her words failed to placate campaigners for the so-called “Windrush” generation, who arrived in the UK before 1971.

Since 2014, an approach known as “hostile environment”, introduced when Mrs May was home secretary, has instructed employers, hospitals and other public services to ask people to show proof of their right to live in the UK, which members of the Windrush generation often lack.

The Joint Council for the Welfare of

Immigrants, which has helped to bring the scandal to light, said Mrs May’s apology to heads of state from the Caribbean was “insulting” and said that people’s lives “have actually been ruined by her hostile environment policy, and which she knew about since 2014”.

As Mrs May spoke, the Home Office said it would review the case of Mozi Haynes, 35, the son of a Windrush generation immigrant, who was due to be deported to St Vincent on Wednesday according to David Lammy, the Labour MP for Tottenham.

The Home Office said it knows of no deportations or detentions of people affected by the Windrush furore and that Mr Haynes would not be made to leave the country.

It also admitted on Tuesday, following reports in the Guardian newspaper, that in 2010 it destroyed an archive of old landing slips cataloguing many older arrivals in the UK, including those of many of the

Windrush generation.

But the Home Office said the slips did not provide reliable evidence of continuing residence in the UK and it was therefore “misleading and inaccurate” to suggest they might have had a bearing on current immigration cases.

Diane Abbott, shadow home secretary, said the revelation the landing cards had been destroyed was “truly shocking”.

The Home Office also said it had received 49 calls on Tuesday from people saying they were members of the Windrush generation seeking help in establishing their UK immigration status.

Windrush has shone fresh light on the culture of the Home Office, which devised the hostile environment policy and has been the subject of repeated political controversies under both Labour and Conservative home secretaries.

Tom Gash, a former adviser to the prime minister’s strategy unit who now advises on crime and policing, said the affair was

an indictment of the policymaking process in Whitehall and Westminster.

Those problems were particularly acute at the Home Office because it dealt with rights and liberties that were particularly critical to the people concerned.

“The broad-brush policy that sounds good in a political speech or is rules-based or principlesbased isn’t always very well tested against the operational and human realities of implementing what looks like a theoretically sound idea,” Mr Gash said.

The Windrush outcry is leading to fresh questions about whether the hostile environment approach was ever appropriate. There are also questions about how such an approach might affect the 3m EU citizens resident in the UK after Brexit.

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INVITATION FOR EXPRESSIONS OF INTEREST

Assignment Title: Development of Model Legislation on Child Prostitution, Pornography and Trafficking The Organisation of Eastern Caribbean States (OECS) Commission invites interested eligible Individual Consultants to submit Expressions of Interest for the provision of consultancy services for Development of Model Legislation on Child Prostitution, Pornography and Trafficking.

Scope of Services The consultant is expected to: 1. Draft model legislation based on the recommendations made in the Final Report on the Consultancy To Prepare Register Of Laws To Facilitate Development Of Legislation On Child Prostitution, Pornography And Trafficking 2. Facilitate two consultations with stakeholders 3. Review current legislation in nine Member

States (Anguilla, Antigua and Barbuda, British Virgin Islands, Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines) as it pertains to the relevant areas with a view to identifying, updating and amalgamating the areas which touch on child prostitution, pornography and trafficking 4. Produce updated, harmonized draft model bill consistent with regional and international laws and conventions on human and child rights.

Expected Deliverables

1. An inception report and work plan detailing all activities, methodological approaches, and tools associated with undertaking the consultancy 2. Review the existing register of identified laws per Member State which is to be used to develop the Model Bill 3. Report on consultation with Member States 4. Draft Model Bill on child prostitution, pornography and trafficking

Timeframe The project will have a life cycle of sixty (60) calendar days, from May 21, 2018 to September 30, 2018

Guidelines for Submission of Expressions of Interest: Consultants wishing to signify their interest in undertaking the prescribed services are to submit an Expression of Interest (EOI) to include: 1. Information on the Consultant’s qualifications and technical competence relevant to the assignment, experience in undertaking similar assignments, including Curriculum Vitae of the Individual Consultant proposed for the assignment; 2. A concept note on the planned framework for undertaking the assignment and a breakdown of the number of days required for each task.

Consultants shall bear all costs associated with the preparation and submission of their Expressions of Interest.

The OECS is not bound to accept any Expression of Interest, and reserves the right to annul the selection process at any time prior to contract award, without thereby incurring any liability to the Consultants.

For more information please contact: Dr Grace-Ann Cornwall Head Social Development Unit Organisation of Eastern Caribbean States Morne Fortune P.O. Box 1383 Castries ST LUCIA Fax: 758 452 2194 Phone: 758 455 6370 At the following email address: graceann.cornwall@oecs.int Copied to: procurement@oecs.int and Yoshabel.durand@oecs.int Procurement Officer Email: procurement@oecs.int The email submissions should include the name and address of the Individual Consultant and shall be clearly marked in the subject line as “Expression of Interest – Consultancy on the Development of Model Legislation on Child Prostitution, Pornography and Trafficking”.

FINANCIALLY SPEAKING Financial Literacy 101 presented by Bank of Saint Lucia

ESSENTIAL TIPS FOR YOUNG PROFESSIONALS The month of April has been designated as Youth Month, and in keeping with this observance, the following tips are being recirculated.

An essential part of financial planning is recognizing that our financial needs, goals and priorities will change over time. While no two people share the same situation financially, all of us go through the person financial life stages. These stages include pursuing education; entering the work force; building your career; starting a family and retirement. If you are a young professional, relatively fresh in the workforce and seeking to build your career, the following tips should help: BUDGET, BUDGET, BUDGET Create a budget for yourself to effectively manage your money. Tracking how much you spend weekly and monthly shows you where your money goes and how you can save more. Identify and classify your expenses – fixed and variable. This in turn affords you the opportunity to place excess funds into savings or investments or work on eliminating any debt. There are a number of budget apps available to track your use of funds automatically or manually. Take your pick!

LEARN MORE ABOUT INVESTING Fear not! It’s not as daunting as you think. Some simple things to remember:

1. Figure out what you want or expect from you investment; 2. Seek help by speaking to an advisor who can put those fears to rest; 3. Research and read up on instruments that you are interested in investing in; 4. Consider diversification to reduce risk; and 5. Invest within your means.

loans and credit cards can assist in building good credit. Ensure that your monthly obligations are met as per your budget.

SET LONG TERM GOALS Once you have budgeted and organized your finances, one of the first things to start saving for is retirement. Yes, the best time to start saving is as soon as you receive your very first salary. Ensure that all savings goals set are realistic and within your means.

To assist with your goals, consider setting up a standing order to transfer funds from your salary account to your savings account automatically every month.

THE UNEXPECTED HAPPENS: CONSIDER A CONTINGENCY FUND It is important to be financially prepared from as early as possible. Life comes at you quickly, and so do unexpected surprises – like medical emergencies and unexpected job loss. These can temporarily or seriously throw us off the path to achieving our financial goals. The contingency fund should be built to sufficiently cover expenses over a period of at least 3 months.

ESTABLISHING & BUILDING GOOD CREDIT Having a good credit record demonstrates your responsibility and credit worthiness and can assist you later down the line when it comes to home ownership and future borrowing. If you are fresh out of university then you are likely to have a student loan. Student

Budget wisely and set realistic goals, make sound financial decisions from an early stage. Build credit and start saving early to be ready for bigger financial decisions in the future. When in doubt, consult your preferred financial services provider.

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