JAN 17

Governor General Sir. Daniel Williams has described as "unpatriotic" attempts by certain persons in the country to slander and falsely accuse bonafide investors of wrong-doing.
He made the statement while delivering the Throne Speech last Friday on the occasion of the Ceremonial State Opening of the First Session of the Seventh Parliament at York House in St. George's.

During the ceremony, Clerk of Parliament Kenneth Hobson administered the Oaths of Allegiance and Office to the President of the Senate, Leslie-Ann Seon and Speaker of the House, former Labour Minister Lawrence Joseph.

The Clerk also sworn in the fifteen elected members of the House of Representatives and the twelve persons who were selected to serve in the Upper House.

Sir. Daniel told the gathering that irresponsible behaviour by nationals against foreigners only serves to frighten away other potential investors. His remarks were apparently aimed at addressing an issue involving French investor Georges Cohen and Anslem Clouden, one of the island's leading criminal defense lawyers.

Cohen told reporters at a January 2 press conference that he has instructed his local Lawyer Michael Sylvester to file law suit against Clouden and the GRENADA TODAY newspaper for defamation of character.

In addressing news reporters late last year, Clouden, a former Senator in the last parliament, called on Prime Minister and Minister of National Security, Dr. Keith Mitchell, to inform the nation on the whereabouts of the French investor following widespread rumours in the country that the multi-millionaire was the subject of a probe by foreign law enforcement officers.
According to the Governor General, government recognises that foreign investments are necessary if the country is to develop at an acceptable pace.

"Such investments are needed to provide jobs for our citizens and sustainable projects that contribute to the further modernisation of our society", he said.

Sir Daniel told parliament that in order for this to be ensured, and in keeping with the deepening of the consultative process, government intends to establish a multi-disciplinary Investment Committee.

The Committee he said will comprise professional persons who will be charged with the responsibility of assessing all proposals from foreign investors.

"Responsibilities of the Committee would include conducting back ground checks on potential investors, examining the technical and financial feasibility of proposed investments and evaluating the economic benefits", he added.

The Governor-General pointed out that the members of the committee will look to see whether or not the proposed business has opportunities that would accrue to the citizens, the local business community, and its environmental implications. Sir Daniel said that just as all citizens are expected and required to respect the laws of the country, so too are foreign investors.

"Similarly, when respected investors select our country as the location for major projects, in which millions of dollars are invested and many jobs are created for Grenadians, it is important that our citizens demonstrate respect toward such investors", he added.

Since coming to power in June 1995, the Keith Mitchell-led New National Party (NNP) administration has been under fire for bringing into the country a number of controversial and questionable foreign businessmen.

Only last Tuesday, five former officers, directors or promoters of the collapsed First International Bank of Grenada (FIBG) were criminally indicted in the United States.

The five - Van Arthur Brink, Douglas Ferguson, Laurent Barnabe, Rita Regale and Robert Skirving - face multiple counts of mail fraud, wire fraud, conspiracy and money laundering at a Federal Court in Portland, Oregon.

Barnabe, Regale and Skirving are presently in custody while Brink and Ferguson are still at large. First Bank collapsed in 2001 in Grenada, allegedly fleecing its depositors of over 200 million U.S dollars.

The Mitchell government which had given the offshore bank a license to operate in Grenada, reportedly benefitted from millions of dollars in campaign funds from FIBG to contest the 1999 general election.