The United Kingdom has provided funding for a new initiative aimed at stimulating private sector development in Montserrat. While the exact amount of funding remains undisclosed, this project is designed to strengthen trade and investment ties between the UK and Montserrat.
According to a joint press statement from the offices of the Governor and Premier, the initiative follows Montserrat’s participation in the UK-Antigua Trade and Investment Summit earlier this year, where Premier Joseph E. Farrell sought support for enhancing the island’s business environment. The Governor’s Office successfully secured the funding, which will be used to address local barriers to investment, create a more business-friendly environment, and connect UK businesses with opportunities in Montserrat.
Key components of the project include a sector and gap analysis to identify legal and regulatory obstacles, the development of an “Invest in Montserrat” website, and the creation of a renewable energy roadmap. Additionally, the initiative will facilitate Montserrat’s participation in the UK-Caribbean Trade and Investment Forum and host a five-day UK-Montserrat Trade and Investment Forum on the island.
The project, supported by the UK Government’s Green and Inclusive Growth Centre of Expertise, is expected to result in at least two formal investment agreements and several long-term sustainable investments within the next two years. The Governor’s Office will lead the initiative in collaboration with Montserrat’s Ministry of Finance and other key stakeholders.
