The
Development Planning Unit
Government of the British Virgin Islands

SOCIAL WELFARE POLICY 
In
The British Virgin Islands.

INTRODUCTION
Economic development is measured by the sustained growth of productive resources as well as the rapid and large-scale improvements in the levels of living for the masses. In order for development to occur rapid structural and institutional transformation of economies and societies to efficiently deliver the fruits of economic progress to the entire population must take place (Todaro 8). In this respect, “Construction” plays a significant role in the economic development of the British Virgin Islands (BVI), for it is the main determinant of the BVI’s infra structural development. Infra structural development results from the physical development of the country such as roads, ports, businesses, as well as homes.

Construction includes general construction for buildings, special trade construction, construction completion, as well as repair. General construction involve the construction of entire dwellings, office buildings, stores and other public utility buildings, or the construction of heavy construction such as highways , streets, bridges, tunnels, railways, airfield, and habours. Special trade construction include the preparation and construction of the above mentioned works. This include activities such as pile-driving, foundation work, water well drilling, carcass work, concrete work, brick laying, stone setting, scaffolding, roof covering, and the erection of steel structures. Construction completion includes many different activities that contribute to the completion of a construction. This includes glazing, plastering, painting and decorating, floor and wall tiling, finishing carpentry, acoustical work, cleaning of the exterior, etc (International Standard International Classification of All Economic Activities (ISIC) 1990 109).

Also included in the definition of the construction sector is “installation” which covers “the installation of all kinds of utilities that do the construction function as such”. This includes activities carried out at the site of construction as well as in special shops. This category covers plumbing, installation and repair of heating and air conditioning systems, antennas, alarm systems, elevators and escalators, insulation work (water, heat, sound), sheet metal work, industrial process piping work, commercial refrigerating work, the installation of illuminating and signaling system, and the installation of certain plants such as electric power (ISIC 1990 109).
The Government of the BVI realizes the importance of construction to the economic development of the BVI because of its socio-economic impact. In the BVI, construction has created physical structures such as roads, ports, schools, businesses, as well as homes. In addition, some of these physical development have a direct impact on the structural orientation of markets and the economy, enabling the BVI’s economy to be linked both internally and externally. The basic needs of shelter, and the creation of school that promote self enrichment and education are also the direct result of construction.


CONSTRUCTION AND THE ECONOMIC DEVELOPMENT OF THE BVI
The BVI’s economy is highly dependent on construction, for it is the mainstay for economic growth. Tourism, Financial and Business Services, and Distribution Sectors, mainly responsible for the growth and development of the BVI, rely on construction for their development. To accommodate the increasing number of overnight visitors over the years, numerous hotels have undergone expansion, constructing additional rooms. The financial services and business sector is the faster growing sectors in the BVI. To facilitate this expansion additional office spaces must be created. The distribution sector’s growth relies on an efficient internal and external linkage such as roads and ports for their development. Construction, therefore, has transformed the economy of the BVI. This can be seen through the infra structural and physical development of the BVI, especially over the last decade, which allows expansion an growth in various markets and sectors. 

The BVI’s tourism, financial services, and distribution markets growth are dependent on construction. In fact, investment in infrastructure to cope with growth in these markets is paramount. See Table 1 below for the growth in various sectors from 1984 to 1994.


Table 1: Growth in various sector, 1984-1994.

                                                Source: DPU

In 1994, there were 328,525 holiday visitors, a 103.3% increase over the 1984 figure. Imports for the same period was $123,345, 59.6% above the 1984 figure of $77,306. The cumulative number of International Business Companies (IBC) registered as of December 31st 1994 was 136,208, a 578.6% increase over the December 31st 1984 figure of 235. Construction activity has had a positive impact on these spectacular rates of increase, for it is through construction that additional hotel rooms were built, additional offices spaces provided, and imports increased partly because of demand for construction material.


CONSTRUCTION CONTRIBUTION TO THE GROSS DOMESTIC PRODUCT 
The 1992 National Accounts figures show that the construction sector contributed $16,195,925 to the gross domestic product (GDP), or 4.7% of the total GDP of $344,612,096. Looking at the period 1990 to 1992, the construction sector’s contribution to GDP rose 9.4% from 1990 to 1991, from $16,331,305 to $17,862,015, and fell 9.3% from 1991 to 1992, from $17,862,015 to $16,195,928 in 1992. This resulted in a decline of 0.8% for the period 1990 to 1992. 


Table 2: GDP Contribution by Industry 1990 to 1992 US$

                                                              Source: National Accounts Statistics 1992

Although the construction sector’s contribution to GDP declined over the period, sectors such as hotel and restaurants and financial intermediation, that have strong linkages to the construction sector, contributions to GDP grew significantly because they were able to accommodate a growing number of tourists because of the construction of additional rooms and additional office space accommodated foreign financial institutions. A further analysis of the construction sector’s GDP contribution shows that building of complete construction is the largest contributor to construction’s GDP contribution. From 1990 to 1992, building of complete construction contributed 70.8%, 66,7%, and 63.5% respectively to construction’s GDP. Building completion had the second largest contribution to construction’s GDP with 18%, 19.9%, and 21.8% respectively from 1990 to 1991. Building installation was third with 7.9 %, 10.2% and 11% respectively of construction’s GDP for the same period. Renting of construction equipment with operator and construction site preparation contributed 2.1%, 1.7%, 2.5%, and 1.1%, 1.4%, and 1.2% respectively from 1990 to 1992.

Table 3: GDP Contribution by Construction Sub-group, 1990 - 1992

                                                Source: National Accounts Statistics 1992


EMPLOYMENT AND EARNINGS
In 1994, there were 10,869 employee in the labour force, a 4.5% increase from the previous year’s figure of 10,396. The construction sector employed 1,088 of the 10,869, or 10% of the work force. The construction sector actually employ the fourth largest number of employee behind the hotel and restaurant sector which employed 2,539 employees (23.4%), the public administration and social security sector’s 2,318 employees (21.3%), and the wholesale and retail trade sector’s 1,469 employees (13.5%) (See Table 4). Comparing construction workers employed between 1990 and 1994, showed an increase from 1,080 employees in 1990 to 1,345 employees in 1992 and a decrease to 1,088 employee in 1994. The average growth for the period 1990 to 1994 was 0.2%. Employment in the construction sector is not stable, for employment for projects last from a few months to a few years. Thus, the level of employment depends on level of construction activity. In years where there is high construction activity, like 1992, employment will be greater than years with relatively lower construction activity , like 1994.


In 1994 the gross earnings of the BVI’s work force from employment, the wage bill, was US$ 118,638,953, with the construction sector contributing $9,242,965 or 7.8% (See Table 4). This was only the sixth largest contributor to the BVI’s wage bill; however, the construction sector has positive linkages with other sectors which contribute to increased employment and earnings in those sectors.


Table 4: Number of employee by sector, 1992 to 1994, and 1994 Wages (US$)

                                        Source: Employment and Earnings Statistics 1994

A further analysis into the construction workers, see table 5, shows that 937 workers or 86.1% of the aggregate was employed in building of complete construction namely general construction which involves the building of complete buildings and heavy construction projects such as highways. Workers in this sub-group also contributed significantly to the total construction sector wages, $ 7,971,217 or 86.2% of the aggregate. The second largest sub-group of construction workers was building installation with 83 workers or 7.6% of the aggregate. This includes the installation of utilities. Building installation was also the second largest contributor to the construction wage bill, contributing $686,009 or 7.4% of the construction wage bill.

Table 5: Breakdown of Construction Workers Employment by Sub-groups in 1994

                                                     Source: BVI Employment and Earnings Statistics

In 1994, the average annual earnings per employee in the construction sector was $8,495. This was well below the economy’s average annual earnings per person of $10,915. The average annual earning per employee in the construction sector was derived using Social Security Board’s information; however, this figure is understated since there are a number of construction workers who are involved in the informal construction sector. The informal construction sector is described as work outside the formal structure such as independent work on weekends and after-hours on which no social security and income taxes are paid. Estimates from the Development Planning Unit (DPU) for the informal construction sector was $3,285,100 in 1992. The addition of the earnings in the informal sector will therefore cause the actual annual earnings per employee (formal and informal) to be higher that the average for the formal sector given above. This issue of informal workers is of great concern to the BVI and should be looked into, for it costs the government in terms of lost taxes. 


A further analysis of the construction sector shows that, in 1994, 677 workers (62.2%) were employed in elementary occupations earning $7,572 annually; 38 construction workers (3.5%) were service workers and shop and market sales workers earning $5,784 annually; and 6 workers (0.6%) were skilled agricultural and fishery workers earning $7,275 annually. Thus, 66.3% of construction workers worked in low income jobs earning less that $8,000 annually in 1994. 


Bringing up the average were managers, professionals, technician and associate professional, plant machine operators and assemblers, clerks, and craft and related trade workers with annual incomes of $10,637, $17,593, $13,003, $10,684, $14,389, and $9,086 respectively. See table 6. 

Table 6: Employment and Earnings in the Construction Sector by Occupation, 1994 

                                                Source: BVI Earnings and Employment Statistics


The information below given in table 7, which was acquired during the 1991 Census when employees were asked their income, supports the argument that the annual earnings per employees in the construction sector is above $8,495. Looking at the grouped monthly income below, 503 construction workers earned more than $1,000 a month while 650 workers earned less $1,000 with 200 workers being not stated. A weighted average of this information gives a monthly income of approximately $980. Assuming that workers worked ten month which is an under estimate gave an average annual income of $9800 in 1991. This figure was expected to be even higher in 1994. The importance of the informal sector’s information is, therefore, highlighted. Without this information no one know the actual wage bill of the economy, or the income in various sectors such as construction. 

Table 7: Construction Worker by Grouped Monthly Income, 1991

                           Source: BVI 1991 Population and Housing Census

The majority of construction workers are foreign workers. As seen below in Table 8, production, construction and transportation classification had the largest allocation of work permits in 1993, 1575 or 38.2% of the 1993 total of 4,127. Within this category of production, construction, and transportation, the majority of these workers are construction workers. From the figures given in Table 3, there were 1,147 construction workers, 323 manufacturing or production workers, and 617 transportation, storage and communication workers of which some 314 workers were employed in transportation in 1993. Out of the 1,784 worker in production, construction and transportation, 1,575 workers had work permits with construction workers having the largest proportion. Table 13 shows that, according to the 1991 census, 990 foreign workers were employed in construction. This figure was expected to increase in 1993. The issue of importing workers especially construction workers is of great concern and should be studied.

Table 8: Work Permit Issued by Occupation, 1990 to 1993

Source: Labour Department

Table 9 shows the education level of construction workers in 1991. Looking at there figures closely one can see that 91.7% or 1,241 of the 1353 construction workers had either no education, a primary education or a secondary education in 1991. In fact, the primary and secondary education levels were the largest categories with 737 workers or 54.5% and 498 workers or 36.8% of the aggregate respectively. Formal training in construction, from a few weeks to a few years, will be beneficial to those workers productivity, for they have no formal training. In fact, the only form of training for most of these workers is on the job training. 

Table 9: Education Level of Construction Workers in 1991

 Source: BVI 1991 Population and Housing Census

According to the latest figure from the trade department, there were 1,817 businesses licensed in 1994 (See Table 10). The main industries with respect to businesses were real estate, renting and other businesses with 404 businesses, 22.2%; wholesale and retail trade with 397 businesses, 21.8%; transportation, storage, and communication with 311 businesses, 17.1%; hotel and restaurants with 207 businesses, 11.4%, and construction with 185 businesses, 10.2%.

A further analysis of table 10 shows that the majority of businesses in the BVI in 1994 were locally owned, 1,574 businesses or 86.6% of the aggregate. Wholesale and retail trade had the largest number of locally owned businesses with 370 businesses, 23.5%; the transportation, storage, and communication sector had the second largest number of locally owned businesses with 297, 18.9%; the real estate, renting, and business activities sector was third with 286, 18.2%; and the hotel and restaurant sector and the construction sector were fourth and fifth with 171 and 166 local businesses respectively, 10.9% and 10.5%. The real estate, renting and business activity sector had the largest number of foreign owned businesses in 1994 with 118 businesses or 48.6% of the 243 foreign owned companies; the hotel and restaurant sector was second with 36 foreign owned businesses, 14.8%; wholesale and retail trade was third with 27 foreign owned businesses, 11.1%; and the construction sector was fourth with 19 foreign owned businesses, 7.8%.

Table 10: Businesses by Industry 1994 US$

Source: Trade Department
*Not included in table 7 were fishermen who are exempt form trade licenses and trust companies who deal directly with the financial services department concerning their operations.

A breakdown of construction businesses in 1994, in table 11, shows that the majority of construction businesses were under building of complete construction or parts thereof, 123 businesses or 66.5% of aggregate. Building of complete construction and parts thereof also had the largest number of both local and foreign firms 110 and 131 respectively, attributing 66.2% and 68.4% to local construction firms and foreign construction firms figures respectively. Building installation had the second largest number of construction businesses with 30, 16.2%. 28 of these businesses were local and 2 were foreign accounting for 16.9% and 10.5% of local and foreign construction businesses respectively. Building completion had the third largest number of construction firms with 25 firms, 13.5%; 23 of these firms were local and 2 were foreign, accounting for 13.9% and 10.5% of the local and foreign firms respectively. Renting of construction and demolition equipment had the smallest number of construction businesses, 7. Of the 7 businesses, 5 were local and 2 were foreign accounting for 3% and 10.5% of the local and foreign construction businesses respectively. 

Table 11: Construction related businesses in 1994

Source: Trade Department

CAPITAL INVESTMENT IN CONSTRUCTION
As stated above, capital investment, in the form of construction projects, is paramount to the social and economic development of the British Virgin Islands (BVI). Both the public and private sectors have undertaken substantial investments in this form that have enabled the BVI to grow socially and economically.

In 1994, the government's capital expenditure was $21,323,266 of which $14,259,233 was construction expenditure with buildings and roads being the largest categories with $10,201,058 and $3,010,957 respectively. Looking at the period 1991 to 1994, shows the volatility of construction expenditure, see table 12. While construction expenditure increased 53.7% from 1991 to 1994, expenditure in 1992 was 136.6% above the 1991 figure.

As stated above government has invested and continues to invest in construction projects. These projects include buildings (schools and administrative), road improvement and highway construction, and port facilities (new cruise ship dock, passenger terminal, and renovations of docks and jetties). Public expenditure in construction as a percentage of total capital expenditure increased from 72.6% in 1991 to 84.7% in 1992 and fell to 66.8% in 1994. This declining trend is slight and has relatively little negative externalities. With the construction of the dual carriage way stated to begin this year (1996) and the construction of a new airport terminal and expansion of the airport runway stated to begin within the next two years; construction projects will continue to make up the bulk of the capital expenditure.

Table 12: Capital Investments (Public Construction) 1991 – 1994 US$

 Source: Management Accounts

Table 13 gives a clear comparative picture of government’s expenditure from 1991 - 1994. Total public sector construction expenditure which is a component of government’s capital expenditure increased and decreased uniformly with capital expenditure during the period. From 1991 to 1992 construction expenditure and capital expenditure increased 136.6% and 102.7% respectively; from 1992 to 1993 - 45.3% and - 30.6% respectively; and 18.8% and 18.6% respectively from 1993 to 1995. The average annual growth rates for construction expenditure and capital expenditure for the three year period 1991 to 1994, however, were 17.9% and 22.3% respectively.

Table 13: BVI Government’s Expenditures, 1991 to 1994

 Source: BVI Budget 1996 and the Management’s Accounts


Unlike public construction expenditure and capital expenditure, current expenditure grew constantly from 1991 to 1994, 9.9% from 1991 to 1992, 18.3% from 1992 to 1993, and 15.3% from 1993 to 1994.The average annual growth rate for the three year period 1991 to 1994 was 16.7%. Total government expenditure, the sum of capital and current expenditure also grew from 1991 t 1994, but the growth rates varied significantly. Total expenditure growth rates for the period 1991 to 1994 were 28.5%, 2.9%, and 16.0% respectively. The average annual growth rate for total expenditure from 1991 to 1994 was 17.8%.


Plans Approved:
The enormous amount of public sector expenditure on construction mentioned above, did not crowd out private investments in construction since a large portion of government’s funding for construction projects was from foreign sources. While there was a decline in the number of building plans approved from 1991 to 1992, there was a constant increase in the number of plans approved from 1992 to 1995 see Table 14. In fact, the number of building plans approved from 1991 to 1995 increased by 5.6% from 186 to 302. The value of these plans, however, grew by 33.6% from 1991 to 1994, from $50,691,000 in 1991 to $67,710,000 in 1994, see table 15.

Table 14: Building Plans Approved, 1991 to 1995

Source: Town and Country Planning

Table 15: Estimated Cost of Building Plans Approved ,1991 to 1994 US$

 Source: Town and Country Planning 


Housing Starts and Completions
The number of housing starts and completions also give an indication of the private investment. Building plans approved gives proposed development while housing starts and completions gives actual construction starts and completion. Tables 16 and 17 show that the total number of housing starts and completions from 1991 to 1994 increased 4.3% and 26.4% respectively. The large increase in completions over this period resulted from the completion of recent housing starts as well as completion of housing starts from the late eighties since the economic situation of the territory was much improved. Looking at these figures one can see that there increases in government expenditure, described above, did not crowd out private investment. The declining trend in commercial, industrial, and institutional starts, although small, must be monitored. 

Table 16: Housing Starts, 1991-1994

Source: Town and Country Planning


Table 17: Housing Completions, 1991- 1994

Source: Town and Country Planning


Financing:
Additional evidence to support the no crowding out assertion is given in table 18 which gives a detailed breakdown of government’s financing. Table 18 shows that domestic financing and financing abroad were negative except for domestic financing in 1992 and foreign financing in 1991. Negative financing means that a surplus accumulated by the public sector is being allocated to financial institutions, households, businesses or other monetary or financial institutions or markets. Positive financing, on the other hand, means that the public sector is taking in or absorbing resources (money) from either the banking or the international community, households or the other areas of the non-financial private sector.

Table 18: Financing by type of debt holder (US$ 000's)

 Source: Development Planning Unit


Domestic financing includes all government financial transactions with resident individuals, enterprises, governments, and all other entities resident in the British Virgin Islands. During the period 1991 to 1994 a total of $14,779,000 surplus balance was returned to the economy through financial transactions while $7,617,000 was taken out to meet an overall deficit.

Financing abroad for the period 1991 to 1994 suggests that our net position, the difference between acquisition of resources and the provisions of surpluses, is one of allocating surpluses for overseas investment. In 1991, net financing amounted to inflows of $6,234,000 in contrast to outflows of $14,836,000 from 1992 to 1994. This data further indicates that during the period 1991 to 1994, international agencies provided net resources of $5,125,000 as a result of $5,618,000 in disbursements and $493,000 in amortization of loans respectively. Changes in cash, deposits and securities held for liquidity purposes during this same period amounted to outflows of $14,046,000 as a result of outflows of $17,818,000 and inflows $3,772,000.

On March 31, 1995, loans and advances outstanding from the commercial banks stood at $268,214,000, a 14.1% over the previous quarter’s, December 31, 1994, figure of 234,968,000. Private household with employed persons, the largest category, had loans and advances outstanding amounting to $89,722,000 or 33.5% of total loans and advances outstanding. Real estate, renting and business activities had the second largest figure with $51,678,000 or 19.3% of the aggregate. Hotel, guest house and restaurant, wholesale and retail trade, transport, storage and communication, and construction followed with $33,768,000 (12.6%), $33,363,000 (12.4%), 20,001,000 (7.5%), and $15,721,000 (5.9%) respectively. 

Private construction financing includes the categories or economic sectors construction and private household with employed persons. Construction includes construction industries while private household with employed persons includes individual construction loans or mortgages. Thus, the majority of loans and advances outstanding on March 31, 1995, $105,443,000 or 39.3% of the loans and advances outstanding, were construction financing. This was 13.2% lower than the previous quarter’s figure of $121,449,000. This was mainly due to a fall in the loans and advances outstanding by private household with employed persons. However, this trend is not expected to continue in the future.

Table 19 : Outstanding Loans and Advances by Economic Sector (US Thousands of Dollars)

 Source: Financial Statistics

Construction Material:
According to preliminary figures, 120,443 cubic yds. of construction or building materials were produced in the territory in 1994, a 32.8% increase over the previous years figure. The average growth rate for the three year period 1991 to 1994 was 11.2%. Ready mix concrete produced in 1994 amounted to 54,937 cubic yds. or 45.6% of the aggregate. The production of crush stone and sand for the same period was 43, 184 and 22,322 cubic yds. respectively contributing 35.9% and 18.5% respectively to the total local production of building material. The increase in the BVI’s construction activity has resulted in an overall increase in the local production of construction material from 1991 to 1994. 

Table 20: Local production of construction material from 1991 - 1994

Source: Social and Economic Review (SAER) 1992

Local construction material produced in 1994 valued $7,084,516, a 21.2% in from the previous year’s figure. The average growth rate for the value of locally produced building material for the three year period 1991 to 1994 was 13.9%. The value of ready mix concrete produced in 1994 was $5,493,700 or 77.5% of the aggregate. Crush stone and sand, whose production and thus value fluctuated from 1991 to 1994, attributed $1,144,376 (16.2%) and $446,440 (6.3%) respectively to the value of locally produced building material in 1994. 

Table 21: Value of Local Construction Material from 1991 to 1994 US $

 Source: DPU

Since the BVI only produces ready mix concrete, crush stone and sand to a certain degree, the remainder of the building materials demanded in the BVI have to be imported. Thus, construction material is a large component of capital goods imports as well as total imports. In 1994, $20,494,000 in construction material were imported accounting for 38% of capital goods imports and 16% of total imports. In fact, construction material import was the third largest component of total imports in 1994 after food’s (consumer goods and raw material) $35,013,000 (27.2%) and transportation equipment $24,151,000 (18.8%). Between 1991 to 1993, however, construction material was second only to food. The drop in the 1994 construction material figure does not raise significant alarm for, as stated above, 1994 was a relatively low construction activity year. With numerous construction projects in the pipeline, the level of construction activity is expected to increase in the near future. The increase in construction material imports has resulted in positive linkages throughout the economy from the transportation sector to the wholesale retail sector.

Table 22: Imports by End use classification, 1991 – 1994 US$ 000's

Source: Development Planning Unit 

CONSTRUCTION POLICIES AND STRATEGIES
The government’s objective with respect to the construction sector over the last five years, 1990 -1995, included:

1. The provision of quality physical infrastructure such as ports, roads, schools, and administrative buildings.
   
2. Vastly increasing investment in physical infrastructure.
   
3. The provision of housing by purchasing and preparing land for private house holders to purchase and develop for homes.

POLICIES:
During the last five years the following policies were undertaken to achieve the above objectives.

1. Rehabilitation and improvement of the BVI’s physical infrastructure.
   
2. The continual extension and creation of physical infrastructure in the BVI.
   
3. Undertaken an aggressive borrowing campaign.
   
4. The sale of land to individuals at a reduced prices as well as the provision of the necessary infrastructure such as roads.

STRATEGIES:
To implement the policies stated above, a number of strategies were enacted.

1. In order to rehabilitate and improve the conditions of the BVI’s physical infrastructure.

                a. Infrastructure rehabilitation programmes and projects were formulated and implemented.
                b. Maintenance programmes were established.

2. The continual extension and creation of physical infrastructure was a result of:

                a. Infrastructure programmes and projects being formulated and implemented over the last five years.

3. An aggressive borrowing campaign was the result of:

            a. Government's policies towards economic development.
            b.The identification of projects and programmes (infrastructure) (I and ii above). 
            c.Proper formulation of projects and programmes.
            d.A comprehensive search for donor agencies.

4. Finally, the provision of land to private individuals at reduced prices was a result of:

    a. Government’s policy to assist young and less fortunate persons as well as civil servants to build their own homes.

SECTOR PROJECTS
In order to promote economic growth and development, a number of projects and programmes were undertaken under the Public Sector Investment Programme (PSIP) in accordance with the above stated policies. In fact, capital investment for the period 1990 to 1994 totaled $88,510,063. Some of the notable construction programmes and projects included renovations and construction of government administration buildings, namely the Central Administration Complex and the Anegada Administration Building, relating to the executive and legislative organs of government which accounted for $19,853,515 or 22.4% of the aggregate; education affairs, additional classrooms, school rehabilitation and construction for which the BVI Senior School accounted for a significant portion of the total figure of $12,591,173 or 14.2% of capital investment from 1990 to 1994; housing and community development affairs, construction and renovations of community centers, accounted for $1,603,422 or 1.8% of the aggregate; highway construction affairs or the road improvement projects accounted for $12,230,535 or 13.8% of the aggregate; and water transport facilities construction, jetties, passenger terminals and port development projects amounted to $15,064,256 or 17.1% of the capital investment from 1990 to 1994. Construction related capital investment, therefore, accounted for 69.3% of the capital investment for the period 1990 to 1994. 
Other programme and projects contributed $27,167,162 or 30.7% to capital investment for the period 1990 to 1994. This figure includes equipment, training, and the acquisition of land. 


Table 23: Public Sector Investment Programme (PSIP) 1990 – 1994 US$

Source: PSIP 1994

The PSIP for the period 1990 to 1995 has been an overall success for significant results have been seen from PSIP investments over that short period of time. The water transport facility or ports development project namely the new cruise ship dock, which was completed in November 1