Kingstown, St Vincent.
Prime Minister Dr. Ralph Gonsalves says implementing a fast ferry service in the Southern Caribbean is a risk the private sector must take, with government assistanc
“This is not as easy as some people think. It is a lot of money which is involved. In fact, the reason why you haven’t had it, despite all sort of efforts, is because it is a difficult proposition,” Gonsalves said at the 43rd special meeting of the Council for Trade and Economic Development (COTED) that ended in St Vincent late yesterday.
But Gonsalves, who has lead responsibility for transportation in the Caribbean Community (CARICOM), said that regional governments can help private investors by offering them various concessions.
“These are easy things for us to do. We do that in St. Vincent and the Grenadines,” he said, adding that ferries registered and operating here are imported tax-free, pay no tax on their earning, and there is not value-added tax on the service.
He said that when a ferry operator imports a vessel, they are only required to pay a four per cent Customs Service charge.
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