(Press Release) – The People’s Democratic Movement (PDM), led by Paul Lewis, on Wednesday, September 24th, announced a bold new initiative designed to transform Montserrat’s economy and secure a prosperous future for its people. The proposal for the establishment of a Special Economic Zone (SEZ) is at the core of PDM’s economic growth strategy, aiming to create high-paying jobs, attract new businesses, and stimulate population growth on the island.
“The creation of a Special Economic Zone is a game changer for Montserrat. This initiative will allow us to diversify our economy, offer high-paying jobs to our citizens, and attract investment from around the world,” said Paul Lewis, Leader of the People’s Democratic Movement. “We see this as a vital step in securing a brighter future for Montserrat, providing opportunities for both our current citizens and the returning diaspora.”
The proposed SEZ will focus on creating a business-friendly environment, complete with a comprehensive legal framework and a suite of attractive incentives. The Montserrat Special Economic Zone Act will serve as the foundation, outlining tax benefits, investment protections, and reduced bureaucracy. These include reduced corporate tax rates, import/export duty exemptions, and tax holidays to attract global and regional companies to Montserrat.
The SEZ will focus on key sectors such as technology, shipping, intellectual property, FinTech, and sustainable tourism, paving the way for economic diversification.
Hon Paul Lewis emphasized that “this Special Economic Zone is not just about business—it’s about empowering our people. It will help return skilled Montserratians to the island, provide job opportunities for our young people and build a stronger economy for future generations.”
Benefits of the Montserrat SEZ Include:
Job Creation: Higher-paying jobs in growing industries.
Economic Diversification: Growth beyond traditional sectors.
Population Growth: Attracting both Montserratians and skilled professionals from abroad.
Increased Government Revenue: Long-term growth in revenue through sustainable economic expansion.
Implementation Strategy will focus on
1. Draft and pass the Montserrat Special Economic Zone Act.
2. Establish a dedicated SEZ Authority to manage development.
3. Invest in key infrastructure projects to support businesses in the zone.
4. Launch a global marketing campaign to attract investors.
5. Implement specialized skills development programs for local talent.
6. Monitor and evaluate the zone’s performance for continuous improvement.
“We are committed to making Montserrat a premier destination for investment in the Caribbean, while ensuring our citizens benefit directly from the economic opportunities this will create,” concluded Paul Lewis. “We already have interest from potential investors, and with the SEZ in place, Montserrat will be open for business on a global scale.”
This innovative economic policy will transform Montserrat into a hub for investment, job creation, and sustainable development, ensuring a prosperous future for all Montserratians.
