Prime Minister Dr. The Honourable Ralph Gonsalves emphasized that, under the US$100 Million agreement for the Palm Island resort must give first preference to Vincentians for employment, procurement, and service contracts, while providing training, internships, and professional development for nationals.
Prime Minister Gonsalves reaffirmed the project’s long-term national benefits: “This investment will revitalize the economy of the Southern Grenadines and deliver ripple effects across the entire country.
The resort is required to procure agricultural produce, seafood, and other supplies locally, strengthening incomes and supporting our farmers, fisherfolk, and businesses.
These are the practical linkages that uplift communities and grow our domestic economy.
” Government concessions under the Hotel Aids Act such as duty-free concessions and a tax holiday are essential tools used across the Caribbean to attract major tourism investments. Without these incentives, we would not have the 200 jobs, the construction employment, or the significant spin-offs to local sectors. This is how responsible governments encourage growth and create opportunity.”
Representing Limestone & Palm Island Resorts Ltd., the company’s spokesperson Zachary Bayman reaffirmed their commitment to rebuilding with environmental care, local partnerships, and respect for the island’s legacy.
“Palm Island has long been a jewel in the crown of the Grenadines, and we are deeply humbled to be entrusted with bringing new life to this extraordinary place,” Bayman said.
“It’s renewal will extend far beyond its shores, delivering lasting benefits to the surrounding communities and to the entire region.”
Zachary Bayman noted that the new Vuara Resort will be a globally recognized five-star destination, joining its award-winning sister property in Madagascar.
“We will source local produce from Vincentian farmers and fishermen, populate the island with plants grown in local nurseries, and encourage our guests to explore local restaurants and attractions. This project is about partnership, sustainability, and long-term prosperity.”
The company expressed appreciation for the collaborative support from SVG’s government ministries and agencies, highlighting the leadership shown in national recovery efforts.
“This remarkable recovery across the region from critical infrastructure to homes and livelihoods is a true reflection of your leadership, Prime Minister. We are honored to contribute to the rebuilding journey of the Grenadines and St. Vincent.”
He confirmed that Phase 1 of Vuara Resort is expected to welcome guests within one year.
