As a tourism based economy, the Government of Grenada (GOG) continues to pursue investments that would create sustainable development and employment for its citizens. As a consequence, the GoG continues to attract the interest of regional and international investors, quite a few of whom seek to engage in discussions and negotiations towards securing large scale development projects and loans to finance the guarantee of those proposed investments.
In the past errors were made that caused additional challenges and costs to the Government of Grenada. Invariably, investors approached the Government with attractive proposals. Prepared plans, agreements, MOUs and contracts were presented to the Government and on face value, most were accepted, albeit without in-depth analysis or legal due-diligence. Being cognisant of past problems, the current administration has taken a cautious approach to entering into commercial investment agreements.
The work of the Attorney General’s Office involves the provision of advice and representation in complex legal matters. Some examples of these include: cross border transactions usually requiring negotiations between the government and foreign investors; negotiating terms of investment and advising on large scale commercial transactions; property transactions; the examination of trademarks which need to be re-registered in Grenada; and, the drafting of legislation on behalf of governments.
The challenges that the Government of Grenada and specifically, the Attorney General’s Office faced were:
This project will build the institutional capacity within the Attorney General's (AG) Office to effectively lead and manage current and future investment initiatives, and enable GoG to be better positioned to negotiate and conclude development proposals which foster greater economic growth and development for the country.
This project directly benefitted the Attorney General’s Office as outstanding legal cases were settled and capacity was built amount the legal and technical staff, which resulted in positive effects on the tourism industry, construction and other related sectors.
Ultimately the government, private sector and people of Grenada as a whole will continue to benefit from the project given the anticipated positive impact in the tourism industry, leading to employment opportunities across all sectors and ultimate poverty reduction.
The objectives of this project have been fully achieved.