INVEST SAINT LUCIA HOSTS MAJOR CONSULTATIONS ON MEDICAL RESEARCH AND DEVELOPMENT INITIATIVE FOR SAINT LUCIA

Castries, Saint Lucia, Tuesday May 26th, 2015. Invest Saint Lucia will this week host a series of consultations with relevant stakeholders to determine the way forward for establishing Saint Lucia as a preferred location for investments in medical research and education, with downstream opportunities for health tourism and other economic activities.

As cited in the 2015 Throne Speech by Her Excellency Dame Pearlette Louisy, the Government has engaged the eminent British law firm of Clifford Chance LLP to review the legislative and regulatory framework needed to transform Saint Lucia into a world class medical research centre.

Accordingly, a number of local stakeholders including relevant government officials and interests in the local health sector, are expected to meet with the representatives of Clifford Chance LLP over the next few days to present their respective inputs into the consultative process designed to facilitate the regulatory framework for developing Saint Lucia as a preferred location for medical research.

Speaking at the first in a series of meetings Friday, Minister responsible for Commerce, Business Development, Investment and Consumer Affairs, “Investment Never Looked Better”
Emma Hippolyte, explained the rationale behind this consultative process. “The ultimate goal of this venture is to support the development of a clinical research environment in Saint Lucia through modular steps, and to establish clinical research in line with high legal and ethical international standards and benchmarks, in order to further develop the island as a recognized location for medical research.” “In so doing,” she continued, “it is our hope that this would enhance Saint Lucia’s attractiveness for foreign investments in the medical sector.”

It is anticipated that the outcome of this initiative will help develop a clinical research environment that would attract international research institutions and researchers, thus promoting subsequent economic benefits for Saint Lucia through additional demand for goods and services such as real estate, food & beverage, office space, skilled labour and transportation.

The meetings with representatives from Clifford Chance are all taking place at the offices of Invest Saint Lucia (ISL) on the Waterfront in Castries.