Investing in the Caribbean, Commonwealth
of Dominica
I. COUNTRY INFORMATION
A. Demographics
1. Population: 69,625 (2001) growth rate: -0.2%
2. Literacy: 95%+
3. Unemployment: 15.7%
4. Workforce: 33,228
5. Language: English is the official language
B. Geographic
1. Land Mass: 289 square miles (750 square kilometers)
2. Location: Caribbean Sea, 1400 miles south of Miami
3. Capital City: Roseau 4. Other principal urban centres:
Portsmouth
Grand Bay
Marigot
5. Sea Ports:
a. Woodbridge Bay, Roseau (40 ft draught, with roll on/roll
off facilities)
b. Portsmouth
c. Roseau Bayfront Cruise Ship Berth
d. Cabrits Cruise Ship Berth
6. Airports:
Melville Hall Airport, Marigot
Canefield Airport, Roseau
7. Temperature: 80 degrees Fahrenheit (annual average)
8. Time Zone: GMT - 4; EST +1
9. Phone Codes: Country Code (767), plus seven (7) digit
number
C. Economic and Financial
Gross Domestic Product (factor cost): US$184.94 million (2002)
Per Capita GDP: US$3,570 (2002)
Growth Rate: 4.67% (2002)
Imports: US$116.32million (2002) CIF
Exports: US$41.99million (2002) FOB
Foreign Debt: US$129.17million (2001)
Inflation Rate: 0.18% (2001)
Currency Exchange Rate: US$1.00 = EC$2.70
Tourist Arrivals: 2002: Stayovers: 69,193 Cruise visitors: 136,859
2003: Stayovers: 72,948 Cruise visitors: 177,044
Tourism Expenditure: 2002: US$52.2 million
D. Contribution to GDP (2002):
Agriculture: 18.25%
Manufacturing: 6.5%
Tourism (hotels & restaurants): 2.45%
Banks and Insurance: 13.88%
Construction, Real Estate, &Housing: 6.68%
II. LABOR INFORMATION
A. Labor Profile
1. Labor turnover: 5 - 10%
2. Absenteeism: 3 - 5%
3. Education: Formal education is available up to secondary level. Most high
schools have a vocational/technical department, as well as an academic
department. There is a technical college and a teachers training college in
Dominica. The University of the West Indies has an extra-mural department in
Dominica.
4. Productivity: 80%
B. Training
1. Training incentives:
During the training and probationary period (a maximum of six (6) months), 75% of wages is allowed to be paid.
2. Training facilities:
a skills training programme through the Government of Dominica assists in organising and conducting training programmes together with the company;
the Clifton Dupigny Community College offers training programmes in many technical and vocational areas;
National Development Foundation of Dominica: - business related training for specific needs.
3. Training support:
the skills training programme of the Government of Dominica can assist in the financing of training programmes including the part payment of stipends to trainees, and fees of instructors. This facility is negotiable, and depends upon the specific training needs of the company.
C. Wage Information
1. Minimum wage: US$0.75 per hour (industry minimum averages US$1.201.50 per hour)
2. Normal working hours: maximum 8 hours per day, or 40 hours a week.
3. Overtime:
In general, overtime remuneration is one and a half times the hourly pay for time
normally worked in excess of 8 hours on normal working days; two times hourly
pay for time worked on Sundays and on public holidays.
4. Fringe benefits: Social Security payments:
Employee: 3% of wage to maximum of EC$150.00/(US$55.56)/month
Employer: 7% of wage to maximum of EC$350.00/(US$129.63)/month
5. No. of public holidays: 12
6. Vacation leave entitlement:
less than five (5) years service - at least two (2) weeks/year
five (5) or more years service - at least three (3) weeks/year
7. Hiring rates: Depending upon qualification, experience, and classification
- Administrative salaries: US$300.00 - US$700.00 per month.
- Professionals: US$1,000 1,800 per month
- Skilled labour: US$5.00 7.50 per hour
- Semi-skilled labour: US$2.50 3.00 per day
- Unskilled labour: US$1.20 1.50 per hour
- Farm labour: US$1.20 1.50 per hour / US$10.00 15.00 per DAY
- Shop Assistant (retail): US$1.15 2.30 per hour
III. FACILITIES
A. Industrial Estates
1. Canefield Industrial Estate:
approximately 2 miles from Woodbridge Bay Port
next to Canefield Airport
30 miles from Melville Hall airport
Size: 14 acres
Ownership: Government of Dominica
2. Picard Industrial Estate:
Location: Portsmouth
27 miles from Woodbridge Bay Port
25 miles from Canefield Airport
25 miles from Melville Hall Airport
next to Portsmouth Harbour
Size: 33.596 acres
Ownership: Government of Dominica
3. Hertford Industrial Estate
Location: Jimmit
6 miles from Woodbridge Bay Port
4 miles from Canefield Airport
24 miles from Melville Hall Airport
Size: 12.413 acres
Ownership: Government of Dominica
4. Other industrial area to be developed:
Geneva Industrial Area: 19.2 acres
Melville Hall Industrial Area: 11.73 acres
B. Factory Space Profile
Percentage occupied: 80%
Square foot availability: 30,000 sq. ft. (approximate total)
Construction time: up to 18 months depending on type and size
Lease cost: from US$3.15 (approximate) per sq. ft/year
Purchase option: market value (on agreement with Government)
C. Tenant Services provided
1. Personnel recruitment: assistance available through:
National Development Corporation
Youth Development Division; Skills Training Programme
2. Management Recruitment: assistance available through:
National Development Corporation
3. Personnel Data Base: assistance available through:
Skills Training Programme
IV. INFRASTRUCTURE AVAILABILITY
A. Utilities
1. Electrical: industrial and hotel:
3 phase 50 cycles: 400 volts
single phase 50 cycles: 230 volts
cost: monthly service charge of US$1.60 per KVA of installed capacity, plus US$0.21 per unit, in addition to a fuel surcharge calculated monthly.
installed capacity: 13,500KW
When it is necessary to load shed, priority is given to maintaining electricity supply to the industrial and commercial areas.
2. Water supply: industrial and hotel rate:
fixed charge of US$7.41/month
US$4.37 per 1,000 gallon
B. Maintenance service availability:
Machinists: available
Mechanics: available
Electricians: available
Welders: available
Plumbers: available
V. TRANSPORTATION
A. Sea Freight
Dominica has regular and reliable shipping links in all major ports in the U.S, Canada, U.K, Europe, and Asia. Shipping lines and rates can be provided upon request.
B. Air Freight
Leeward Island Air Transport (LIAT)
Caribbean Star Airlines
Caribbean Air Cargo
Amerijet International
C. Inland Transportation cost (approximate average):
cab rental - US$56.00/hour
cab and trailer rental: US$70.00/hour
NOTE: All air carriers have easy connection arrangements with most major
airlines to all parts of the world.
VI. COMMUNICATIONS
Cable & Wireless (Dominica) Ltd., and Marpin Telecommunications and Broadcasting
Co. Ltd. provide telecommunications services in DOMINICA at the following rates:
Cable and Wireless (Dominica) Ltd.
Telephone and FAX Rates:
IDD to the US and Canada:
Weekdays: US$1.20 per minute.
Weekdays evening (reduced rate): $1.00: (before 8:00 a.m. and after 6:00 p.m.) per minute.
Weekends (Saturdays and Sundays) and public holidays: US$0.74
per minute.
IDD to Great Britain:
Weekdays: US$1.48 (reduced rate: US$1.24 per minute).
Weekdays evening (reduced rate): $1.24: (before 8:00 a.m. and after 6:00 p.m.) per minute.
Weekends (Saturdays and Sundays) and public holidays: US$0.99
per minute.
Satellite/digital microwave/fibre optic cable transmission of voice and data.
Bandwidth available: up to T1/E1 lines.
Leased circuit access is provided by Cable & Wireless (Dominica) Ltd. for information processing (informatics) businesses at the following rates;
64kbps: US$1,630.90 monthly
128kbps: US$2,904.05 monthly
256kbps: US$5,221.03 monthly
512kbps: US$8,359.90 monthly
1024kbps: US$12,540.03 monthly
T1: US$14,285.03 monthly
E1: US$16,352.83 monthly
Marpin Telecommunications and Broadcasting Co. Ltd
Telephone and Fax Rates:
Residential Line Rental: US$9.20 per month
Business Line Rental: US$14.72 per month
IDD to the US:
Weekdays: US$0.55 per minute.
Weekends (Midnight Friday to Midnight Sundays) and public
holidays: US$0.46 per minute.
IDD to Canada:
Weekdays: US$0.55 per minute
Weekends (Midnight Friday to Midnight Sundays) and public
holidays: US$0.37 per minute.
IDD to Great Britain:
Weekdays: US$0.74 per minute.
Weekends (Midnight Friday to Midnight Sundays) and public
holidays: US$0.55 per minute.
VII. INTERNET ACCESS;
Cable and Wireless (Dominica) Ltd.
Monthly Costs:
Dial-up access: From: US$16.56 for the first 20 hours; to US$33.13 for 60 hours
US$1.00 to US$1.50 per hour thereafter
Set up fee: US$10.00 (approximately)
Dedicated access: DSL 256kbps: US$170 monthly
DSL 512kbps: US$196.92 monthly
DSL 768kpbs: US$224.52 monthly
DSL 1MB: US$426.96 monthly
Installation fee: US$500.00 (approximately)
Marpin Telecommunications and Broadcasting Co. Ltd. www.marpin.dm
Bandwidth Available: Up to T1 (in the process of upgrading further)
US$18.40 for unlimited dial-up access
RISU packages (with one free Email address)
64k down x 32k up: US$27.60
128k down x 64k up: US$36.81
192k down x 64k up: US$64.41
Cable Modem packages (with five free Email addresses)
192k down x 192k up: US$101.22
256k down x 256k up: US$165.63
Fixed IP Address available at US$55.21
Other speeds are available upon request. Special arrangements can also be made
for private networks.
(These rates do not include the cost of Cable Modem of US$423.28 each and
installation charges of US$56.18).
NOTE: Special programs can be negotiated with the service
provider where feasible.
Postal Service
Dominica provides a comprehensive postal service. Express mail
and courier services are available. International companies such as DHL, UPS,
Federal Express, and LIAT Quikpak provide courier services. Post Boxes are
available at a rental rate of US$25.93 - US$55.56 annually, depending on the
location and size of the box. A deposit of US$22.23 is required.
VIII. ADMINISTRATIVE MATTERS
C. Incorporating Procedures:
One or more persons may incorporate a company in Dominica by signing and sending articles of incorporation to the Registrar of Companies. It is advisable to appoint a solicitor to handle the formation and registration of a company.
The following information will be required: -
registered office address;
names, occupation, nationality and address of all shareholders and directors;
proposed name of the company;
the classes of shares authorized;
maximum number of number of shares authorized to issue;
distribution of shares to each shareholder;
any restrictions on the business.
D. Regulations:
Income Tax Act;
Companies Act;
Alien Landholding Act.
E. Company Registration Fees: (certificate of incorporation): EC$750.00
Annual Renewal Fee (due by April 2 of the following year),
based on authorized Share Capital;
Share Capital EC$ Annual Fee EC$
$1.00 49,999 $200.00
$50,000 100,000 $500.00
$100,001 200,000 $700.00
Add EC$100 for every $100,000 Share Capital over and above $200,000, or part
thereof.
F. Registration of Business Name:
Registration Fee: EC$70.00
Annual Renewal Fee: EC$50.00 (due by April 2)
G. International Business Company:
Registration of incorporation fee; US$90.00
Annual renewal licence fee; US$150.00
H. Work/Residence Permit: this is required for all non-Dominican nationals
wishing to work or reside in Dominica. An application involves the submission of
two completed copies of the relevant form together with the following supporting
documents;
Medical certificate;
Two testimonials;
Banker's financial reference/statement;
Police record/statement;
Proof of return ticket;
Two (2) passport size photographs;
Marriage certificate (where applicable);
Letter stating duration and type of employment;
Application fee (non-refundable): US$185.18 non-CARICOM nationals; US$18.52 CARICOM nationals.
I. Work permit license fees:
Manager: US$185.19 plus a resident fee of US$129.63
Supervisor: US$37.04
Technician: US$37.04
An application for a work/residence permit is normally processed within a period of four (4) weeks. However, short delays are sometimes experienced.
IX. TAXES
Corporate Tax Rate: 30%
Personal Income Tax:
Income Tax Rate
On the first EC$15,000 0%
On the next EC$18,000 20%
On the next EC$30,000 30%
On all additional Income 40%
Consumption Tax: 20%
Sales Tax: 7.5%
Environmental Levy 1% or 1.5% (based on item)
Customs Service Charge 3%
Hotel Occupancy Tax: 5%
Withholding Tax Rate:
dividends: 15%
rental payment in respect of immovable property: 10%
rental payments in respect of movable property: 20%
fees payable to public entertainers: 30%
other payments: 25%
Land Transfer Tax:
Memorandum of Transfer (assurance fund): 1% of value
Judicial Fee: 2.5% of value
Stamp Duty (buyer): 4% of value
Stamp Duty: (vendor): 2.5% of value
Solicitors Fees: 3% of value
Alien Land Holding Licence Fee: 10% of value
Economic Stabilization Levy: (on gross personal income in excess of EC$9,000 annually): 3%
Property Transfer Tax:
A tax on the sale or disposition of any property (except stock and debentures).
Rate is 4% of the value of the property.
Capital Gains Tax:
There is no capital gains tax in Dominica.
Retirees
Persons who retire in Dominica are exempt from taxes on
income earned from a source outside Dominica, providing that such persons were
not resident in Dominica prior to retirement.
An Alien Landholding Licence is not required to purchase or
hold up to one acre of land for residential purposes, or up to 3 acres for
business purposes. Also, the Licence fee of 10% of the value of the land can be
waived on application, in respect of the purchase of land for certain
development projects or undertakings.
X. BANKING PROCEDURES
1. A foreign currency bank account can be allowed on application to the
Ministry of finance. The
2. major consideration is that the applicant must have a source of foreign earnings/income.
3. Repatriation of capital can be allowed, usually to the extent of the percentage of the foreign participation in the company.
4. Banking Regulation: Bank Act
5. Currency Exchange: US$1.00 = EC$2.70 (official rate, fixed)
6. Bank rates:
Selling: US$1.00 = EC$2.7169
Buying:
Notes: US$1.00 = EC$2.67
Drafts: US$1.00 = EC$2.6882
Wire transfer charge: US$16.67 - US$27.78 per transfer
depending on bank used.
List of commercial banks operating in Dominica
1. NATIONAL COMMERCIAL BANK
Hillsborough Street
Box 271, Roseau
COMMONWEALTH OF DOMINICA
Tel: 767- 448 4401
Fax: 767- 448 3982
2. ROYAL BANK OF CANADA
Bay Street
Box 19, Roseau
COMMONWEALTH OF DOMINICA
Tel: 767 448 2771
Fax: 767 448 5398
3. BARCLAYS BANK PLC
Old Street
Box 4, Roseau
COMMONWEALTH OF DOMINICA
Tel: 767 448 2571
Fax: 757 448 3471
4. BANK OF NOVA SCOTIA
Hillsborough Street
Box 520, Roseau
COMMONWEALTH OF DOMINICA
Tel: 767 448 5800
Fax: 767 448 5805
5. BANQUE FRANCAISE COMMERCIALE
Queen Mary Street
Box 166, Roseau
COMMONWEALTH OF DOMINICA
Tel: 767 448 4040
Fax: 767 448 5335
* Offshore banking regulations exist under the Offshore Banking Act No. 8 of
1996.
XI. INVESTMENT INCENTIVES
The National Development Corporation (NDC) will assist investors in applying for approval of investment incentives. Applications are submitted to the NDC, which makes recommendations to Government on the level and types of concessions that should be granted.
1. Incentives available:
a. tax holiday;
the Fiscal Incentives Act allows for the granting of a tax holiday of up to fifteen (15) years, for the manufacture of approved products by approved enterprises, as follows;
Group 1 enterprise: local value is 50 % or more of sales up to 15 years
Group 2 enterprise: local value is 25 50% of sales up to 12 years
Group 3 enterprise: local value is 10 25% of sales up to 10 years
Enclave enterprise: production exclusively for export up to 15 years
Capital Intensive Enterprise: investment not less than US$10m up to 15 years
the Hotels Aid Act and the Income Tax Act allows for the granting of a tax holiday of up to twenty (20) years for approved hotel and resort developments.
companies registered under the International Business Companies Act are exempt from the payment of taxes, duties, and similar charges for a period of twenty (20) years from the date of incorporation.
b. import duty and consumption tax exemptions (plant, machinery, equipment, spare parts, building materials, raw and packaging materials, and others as appropriate);
c. repatriation of profits;
foreign investors are allowed to repatriate 100% of profits.
d. withholding tax exemptions;
approved projects are allowed exemptions from payment of withholding taxes on dividends, interest payments, and other relevant external payments.
e. alien landholding licence fee exemption (the fee is 10% of the value of the land);
aliens wishing to purchase/hold land in Dominica must first apply for, and obtain an Alien Land Holding Licence under the Alien Land Holding Regulation Act No. 17 of 1995.
the Aliens Land Holding Act allows non-nationals to acquire and hold up to one (1) acre of land for residential purposes, and up to three (3) acres of land for commercial/business purposes, without obtaining a licence.
the Act also povides for exempting certain development projects or aliens from the provisions of the Act, such as housing, industry, tourism, agriculture, fisheries, and forestry, or where it is in the public interest to do so.
An application for a licence to hold land in Dominica must include;
i. particulars as to the ownership, location and consideration (price) proposed for the acquisition of the land;
ii. the purpose for which the land is to be utilized;
iii. a plan by a licensed surveyor delineating the land;
iv. a receipt for the payment of the relevant application fee (EC$150.00); and
v. any other information required by the Minister (for Agriculture/Lands).
f. factory building/workspace;
industrial and other forms of workspace are available on application to the Agricultural, Industrial, and Development (AID) Bank. The NDC will assist in this process.
g. residence/work permits;
all non-Dominicans require a resident/work permit to work in Dominica. Work permits will normally be granted to foreign directors, managers, supervisors, and instructors/trainers in respect of any development enterprise. The NDC will assist in this process.
h. economic citizenship;
the Government of Dominica can confer economic citizenship on any bona fide person who applies, and meets the established criteria. Details can be obtained from the NDC, or the International Business Unit of the Ministry of Finance.
i. others as appropriate.
2. Project approval process:
a. submission of an application to the NDC giving;
i. particulars as to the nature of the enterprise and the contribution which it is expected to make to the economy;
ii. the estimated amount and purpose of the capital to be expended initially and annually during the tax holiday period;
iii. particulars necessary to determine the local value added in respect of the enterprise;
iv. particulars necessary to determine the level of exports in connection with an application for export credits;
v. the number of persons to be employed, and the conditions of service;
vi. the date by which work on the enterprise will commence, and then date by which the enterprise will produce in marketable quantities the product approved for manufacture;
vii. information to satisfy the Minister that the enterprise is adequately financed and provided with effective and competent management;
viii. the area in which the enterprise will be located;
ix. such other information relating to the enterprise as the Minister may require.
b. application is reviewed by NDC staff, in consultation with the applicant where necessary;
c. appraisal of the proposal, with recommendations for consideration by Cabinet as prepared by the NDC;
d. project appraisal document is reviewed by a committee appointed by the NDC Board;
e. project appraisal document is submitted for review by the Minister in the form of a draft Cabinet Paper;
f. final Cabinet Paper is submitted for review by the Cabinet of the Government of Dominica;
g. Cabinet Decision is made, and is conveyed to the applicant through the NDC;
h. The Minister, through the NDC issues official licence
granting concessions.
3. Regulations:
a. Fiscal Incentives Act, Chapter 84:51
b. Hotels Aid Act, Chapter 85:04
c. Consumption Tax Order, Chapter 80:01
d. Alien Landholding Regulations Act No. 17 of 1995
e. Income Tax Act, Chapter 67:01
f. Customs (Control & Management) Act, Chapter 69:01
g. International Business Companies Act No. 10 of 1996
h. Offshore Banking Act No. 8 of 1996
i. Companies Act No. 21 of 1994
II. TRADE ARRANGEMENTS
1. Dominica is a member of the following trade organizations:
a. Organization of Eastern Caribbean States (OECS)
b. Caribbean Common Market (CARICOM)
c. Association of Caribbean States (ACS)
d. African Caribbean and Pacific States (ACP)
e. World Trade Organization (WTO)
2. Dominica has trade treaties and preferable market access with the following countries:
a. U.S.A.
b. Canada
c. Europe (EEC) and ACP countries
d. CARICOM Countries
e. OECS Territories
f. CARICOM/Republic of Venezuela Agreement
g. CARICOM/Republic of Colombia Agreement
h. CARICOM/Dominican Republic Agreement
3. Criteria to qualify for benefits under;
a. Caribbean Basin Initiative (CBI):
the country of origin of the articles must be designated a beneficiary country. (Dominica is a beneficiary country);
the article must be imported from a beneficiary country into the customs territory of the U.S;
the sum of the cost or value of the material produced in a beneficiary country, or two or more beneficiary countries, plus the direct cost of processing operations performed in a beneficiary country or countries is not less than 35% of the appraised value of such article at the time of entering into a U.S. customs territory;
the article must be an eligible article as proclaimed by the President of the United States;
the CBI law excludes the following articles from duty-free entry status;
certain garments, apparel, and sewn products;
footwear, except disposable items and footwear parts such as uppers;
certain leather and plastic gloves;
luggage, handbags, and flat goods;
certain leather wearing apparel;
watches and watch parts if any component originated in a Communist country;
canned tuna;
petroleum and petroleum products.
b. CARIBCAN
CARIBCAN is the programme of the Canadian government that provides duty-free access to the Canadian market for most Commonwealth Caribbean exports. The following products are excluded from the programme: textiles and apparel, footwear, luggage and handbags, leather garments, lubricating oils and methanol.
the goods must be grown, produced, or manufactured in the Commonwealth Caribbean, but may incorporate materials or components from outside the area if they meet certain conditions;
a minimum of 60% of the ex-factory price of the goods must originate in any of the beneficiary countries or in Canada. This includes production costs, overheads, profits , and export packaging;
the goods must be imported directly from the exporting country, or pass in transit through the territory of an intermediate country with or without trans-shipment or temporary storage;
An original Certificate of Origin Form A must accompany the goods.
c. COTONOU
The COTONOU Convention extends preferential treatment to many products from African, Caribbean, and Pacific (ACP) countries allowing them to enter the European Community duty-free and without quota restrictions. Only products originating in ACP countries qualify for this preferential status.
Dominica goods can access European markets free of duties providing
that inputs originate in EEC or ACP countries.
Products are eligible for LOME status if the following rules of origin
requirements are met:-
products must be wholly obtained in one or more ACP states. Included
in this classification are materials resulting from manufacturing
operations conducted in the ACP nations;
products must have undergone sufficient working or processing during manufacturing in one or more ACP nations, by resulting in a complete change of a tariff heading, with few exceptions.
d. CARICOM
Dominican products can enter the CARICOM market duty-free
providing that the Rules of Origin criteria (local value added of 30%) are met.
Some exceptions apply, particularly as regards the source of
materials/components, etc. The rules make provision for the waiver of any such
exemption on application to CARICOM.
e. CARICOM/ Republic of Venezuela Agreement
The main objective of this agreement is to strengthen the economic and trade relations between CARICOM and Venezuela through;
the promotion and expansion of the sale of goods originating in CARICOM through, inter alia, one-way duty-free access to the Venezuela market;
the stimulation of investments aimed at taking advantage of the markets of the CARICOM and Venezuelan markets and strengthening their competitiveness in world trade;
the facilitation of the creation and operation of regional joint ventures; and
the encouragement of mechanisms for the promotion and protection of investments by CARICOM and Venezuelan nationals.
Venezuela has agreed to grant products originating in CARICOM
free access to its markets by means of the implementation of programs of tariff
reduction and the elimination of non-tariff barriers according to detailed
schedules in the agreement, with the exception of certain items including but
not limited to, beef, certain milk products, coffee and cocoa beans, vegetable
oils and fats, orange juices, oxygen, carbon dioxide, nitrous oxides, anhydrous
ammonia, aluminum sulphate, other carboxylic acids, medicaments constituted by a
mixture of products prepared for therapeutic or prophylactic use, urea, paints
and varnishes based on modified synthetic or natural polymers, dissolved in an
aqueous or non-aqueous medium, insecticides, disinfectants, and a variety of
iron and steel products.
f. CARICOM/Republic of Colombia Agreement
The main objective of this agreement is to strengthen the economic and trade relations, and technical cooperation between CARICOM and Colombia through;
the promotion and expansion of the sale of goods originating in CARICOM and Colombia with particular emphasis on exports from CARICOM States in the early stages of the implementation of the agreement;
the promotion and protection of investments aimed at taking advantage of the opportunities offered by the markets of CARICOM and Colombia and strengthening their competitiveness in the international market;
the facilitation of the creation and operation of regional joint ventures;
the development of technical and scientific cooperation activities;
the promotion of private sector activities, including business exchanges.
The agreement includes a programme of trade liberalization considering the difference in the levels of development between Colombia and CARICOM, and in particular the Less Developed Countries (LDCs) of CARICOM.
Colombia has agreed to grant products originating in CARICOM,
free access to its markets by means of the implementation of programmes for the
elimination of tariff and non-tariff barriers according to detailed schedules in
the agreement.
g. CARICOM/Dominican Republic Agreement
The agreement establishing a free trade area between CARICOM
and the Dominican Republic was signed in Santo Domingo on August 22, 1998. The
objective of the Agreement shall be to strengthen the commercial and economic
relations between the two parties through, inter alia, the establishment of a
Free Trade Area between the parties consistent with WTO rules, the promotion and
expansion of the sale of goods originating in the parties through free access to
the markets of the parties, elimination of non-tariff barriers to trade, the
progressive liberalization of trade in services, and liberalization of the
movement of capital.
XIII. GOVERNMENT RELATIONS
1. Government ministries to which investors must relate:
Ministry of Tourism, and Industry, Enterprise Development;
Ministry of Finance and Planning;
Ministry of Foreign Affairs, Trade, and Marketing;
Ministry of Communications and Works;
Ministry of Legal Affairs, Labour and Immigration;
Any other in respect to specifics of the enterprise/operation;
2. Trade and Industry organizations to which the investors/company should relate:
National Development Corporation (NDC);
Dominica Export/Import Agency (DEXIA);
Dominica Bureau of Standards (DBOS);
Dominica Association of Industry and Commerce (DAIC);
Dominica Employers Federation (DEF);
Dominica Hotel and Tourism Association (DHTA);
any other in respect to specifics of the enterprise/operation.
3. Relevant Trade Regulations:-
Statutory Rules and Ordinances (SR&O) governing and restricting imports of specific items listed.
4. Governments attitude and policy towards private investment seeks to encourage the private sector to undertake direct investment, through broad policy guidelines, legislation and various development assistance initiatives.
5. Governments attitude and policy towards foreign direct investment:-
Government promotes foreign direct investment, particularly
for purposes of employment creation, export earnings, and human resource
development. Foreign investors can hold up to 100% of a locally registered
company, and repatriate 100% of profits.
XIV. LABOUR ENVIRONMENT
1. Labour laws impacting on foreign investors:
Labour Contract Act;
Labour Standard Act;
Protection of Employment Act.
2. Labour unions and their effect on foreign investment: Good. The Government has reached an understanding with the local unions that companies will be allowed to be reasonably established before unions seek worker representation.
3. Dominica has a good labour relations record.
4. The Dominica Employers Federation can represent and assist
its members in any negotiations with unions.
For additional information contact:
General Manager
National Development Corporation
P.O. Box 293
Valley Road
Roseau
Commonwealth of DOMINICA
Tel: 767 448 2045
Fax: 767 448 5840
Email: industry@ndcdominica.dm
Web site: www.ndcdominica.dm
