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Don’t allow outside investors to seize ‘green’ opportunities

Don’t allow outside investors to seize ‘green’ opportunities

With some ‘go green’ legislation and renewable energy initiatives already in place, Premier Andrew Fahie has suggested that outsiders should not be able to seize opportunities that are readily available for locals.
The Premier, speaking at a press conference recently, encouraged persons to be ready to make necessary adjustments when there is a paradigm shift towards green energy.

He further suggested that green opportunities may not seem popular right now because there are not many alternative sources of energy around at this time.

“We have to look ahead and stay ahead of the curve and not let persons come from the outside and start investing in these things and then we start to say ‘well, how come they are coming in and being allowed to do that?’”

“The law is already passed, nearly everything dealing with renewable energy is duty-free at this time. There are very few [items] that may have some duty on it, but it’s very low — [perhaps] two percent. We’re looking at [this Customs duties exemption for] the first two years and it may call for us to extend it even more,” he added.

He urged persons to take advantage of available initiatives when they come forward.

“Those are some of the areas I want the people of the Virgin Islands to start to think about, research because the vehicle to get it done has already been done through legislation,” the Premier said.

“There’s a new industry there to be had by our people and we just want to get these technical expertise on how to train our people and advance them much faster into these areas and open their minds to the possibilities of the future which is right now,” he added.

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