St Lucia Chamber of Commerce pressed to address CIP and transparency concerns
CASTRIES, St Lucia — Concerned citizen James Stanislas has written an open letter to theSt Lucia Chamber, calling on its leadership and membership to break their silence on pressing issues surrounding the country’s Citizenship by Investment Programme (CIP), stalled development projects, and major infrastructure agreements.
In the letter, Stanislas argues that the St Lucia Chamber, which has long positioned itself as the voice of the private sector, has a responsibility to speak out on matters of national accountability and transparency. He highlighted controversies tied to Caribbean Galaxy’s Canelles hotel project, the company’s CIP infrastructure deal, and Global Ports Holdings’ (GPH) agreement, all of which, he said, raise serious questions about public finance management and investor confidence.
The concerns raised by Stanislas echo broader national debates, including the St Lucia passport refund debacle tied to Caribbean Galaxy, where thousands of citizenship applications were reversed after an OECS rejection of the deal. Questions of legality and transparency have also surrounded the government’s handling of CIP funds, with critics highlighting investigations abroad, such as the Hilaire CIP scandal and potential U.S. DOJ scrutiny.
Stanislas further pointed to ongoing unease surrounding Global Ports Holdings’ involvement in St Lucia’s port management. Concerns have been voiced in several quarters, including alarm over the Saint Lucia port lease deal and its long-term implications for national sovereignty. Recent measures linked to the GPH arrangement, such as the SLASPA parking fee hike that locals say unfairly targets citizens, have only fueled public discontent and sharpened calls for greater transparency.
Stanislas said the St Lucia Chamber’s silence undermines its credibility at a time when the nation’s economic integrity is at stake. “The time to move beyond silence is now,” he declared, urging fellow members of the Chamber to join him in demanding oversight, audits, and open dialogue on issues impacting St Lucia’s investment climate.
Below is the open letter in full:
Open Letter to the Board and Membership of the St Lucia Chamber of Commerce
Dear Members of the Board and Membership of the St Lucia Chamber of Commerce,
I write as a deeply concerned observer about the Chamber’s ongoing silence on critical issues threatening our economic future and community well-being. The Chamber’s role as the private sector’s voice and a promoter of transparency uniquely positions it to lead on these matters, yet it remains quiet.
Among our greatest concerns is the Citizenship by Investment Program (CIP), which continues to be clouded by serious allegations of mismanagement and legal non-compliance. Of particular note is the stalled Canelles hotel project in Vieux-Fort, linked to Caribbean Galaxy, where, reportedly, over 5,000 citizenship files sold at US$200,000 each have generated more than US$1 billion. Yet, after nearly six years, the project remains less than 20 percent complete, and the government refuses to account for the proceeds from the sales, raising serious questions about accountability and investor protection.
Similarly, the CIP infrastructure program with Caribbean Galaxy involves an exchange of US$100 million in infrastructure for 6,000 citizenship files valued at over US$600 million. This arrangement effectively places a substantial financial obligation on the government while bypassing the parliamentary oversight required under our Public Finance Management Act (PFMA).
Our concerns also extend to the Global Ports Holdings (GPH) arrangement, which, like the others, raises questions about transparency and adherence to financial and legal controls critical for protecting public resources.
The PFMA requires parliamentary approval for all government borrowing and significant financial commitments to ensure accountability and fiscal prudence. Circumventing this oversight framework threatens fiscal stability and undermines public and investor confidence in St. Lucia’s governance and economic future.
It is deeply troubling that the Chamber, entrusted with championing sound governance and protecting the investment climate, has yet to publicly address these critical matters. I urge the Chamber’s leadership and membership to demand comprehensive parliamentary oversight of all CIP-related financial commitments, call for transparent audits of stalled projects like Canelles, and encourage open dialogue among government, private sector stakeholders, and civil society.
The time to move beyond silence is now. I call on fellow Chamber members who share these concerns to join this urgent call for accountability and integrity. Together, the Chamber can reclaim its rightful role as a fearless guardian of our nation’s prosperity.
In solidarity,
James Stanislas
The publication of Stanislas’ open letter places renewed pressure on the St Lucia Chamber to clarify its stance on the future of the CIP, transparency in large-scale deals, and the country’s governance standards. Whether the Chamber responds publicly or maintains its silence will be closely watched by private sector leaders, civil society, and international observers alike.
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