Like most of the Caribbean, Grenada’s region has suffered a considerable strike to their economy in 2020 as tourism, the main source of income, disappears. Since ever Grenada was almost totally reliant on tourism, with segment sales for nearly 50 per cent of the region’s gross domestic product (GDP).
Grenada also faces a poor company environment and work market, just as much of the area general public lack access to education. Recently, unemployment reached nearly 25 per cent – before the attack of the COVID-19. Due to environment adjustment, the country also faces fast-changing climate situations, affecting agriculture in addition to tourism.
Not only that, but Grenada has fought to cope with financial struggles, from hurricanes to COVID-19, due to problems with sustaining investment. In order to avoid a recurrence of 2013, Grenada’s minister, Keith Mitchell called for a suspension on debt obligations for the state’s private creditors. While the pandemic has caused Grenada’s dreadful situation to be apparent, responsible, progressive entrepreneurs and investors seek to help convert both the economy and culture.
But the country was able to attract a few key supporters who begin to realize Grenada’s potential and are committed to supplying local communities the tools to better their incomes.
One of them could be the “angels” behind Grenada Sustainable Aquaculture, led by business developer and tycoon Soren Dawody.
The project is a private-public combined venture under the State’s Citizenship by Expense program, which allows for big international opportunities to skyrocket the local economy and grant citizenship to investors in exchange.
Solving the Large-Scale Crisis of a Vulnerable Economy
The project’s main goal is a sustainable shrimp farming initiative that seeks to equip local communities with sustainable job opportunities centred on an invaluable market that’s set for export. The project supporter with Grenada’s government in addition to local communities to focus on sustainability, both for a normal environment and a booming economy.
Not only the project is believed profitable, but their diminished footprint entails local citizens aren’t relocated or adversely affected – that is often the case with large-scale programs in contexts like Grenada.
To sum it up, the aquaculture challenge, especially, proves the kind of sustainable growth necessary in the country due to its leadership. Soren Dawody is a skilled entrepreneur and philanthrope functioning at the junction of environmental sustainability and cultural influence. As of Grenada Sustainable Aquaculture, his latest challenge, reveals charitable and impact-centred authority, in addition to an altruistic approach to responsible investment.
While real estate and tourism are the main drivers of Grenada’s economy, Dawody considers that aquaculture is the key to expanding the state’s revenue and aid resources while improving Grenada’s status as a safe and sustainable food exporter. As an alternative, Dawody’s program contains key jobs for local workers in engineering, biology, and operations – set to lift the common wage in Grenada, while also guaranteeing their investors are committed for their local aficionados by granting them citizenship.
Sujan Pariyar is the founder of Think 7 Figures magazine.