United Workers Party (UWP) Leader Dr. Thomson Fontaine says a future UWP administration would pursue a gradual phase-out of Dominica’s Citizenship by Investment (CBI) Programme, arguing that the country must reduce its heavy dependence on revenues generated by the initiative.
Speaking at a recent press conference, Fontaine acknowledged the significant contribution the programme currently makes to government finances but maintained that it is no longer sustainable as the country’s principal source of revenue. According to Fontaine, the CBI programme now accounts for approximately 60 percent of government revenues, a level of dependence he believes poses long-term risks to the country’s economic stability.
Fontaine said the UWP’s recently unveiled “10 Pillars to Shared Prosperity” development plan does not place reliance on CBI revenues at its centre because the party believes the programme faces increasing international and regulatory challenges.
“It is clear that this programme is not sustainable,” Fontaine stated, adding that while the programme may have served the country well in the past, changing international circumstances require Dominica to begin preparing for a different economic future.
The UWP leader stressed, however, that his party would not abruptly terminate the programme. Instead, he said any transition would be managed responsibly and implemented gradually to avoid economic disruption.
Fontaine explained that a UWP government would seek to diversify the economy by placing greater emphasis on sectors such as agriculture, manufacturing, renewable energy, artificial intelligence and water-based industries. He argued that these sectors have the potential to generate sustainable employment and long-term economic growth while reducing the country’s vulnerability to external shocks.
He also suggested that economic policy should focus on expanding opportunities for Dominicans to participate directly in wealth creation through productive industries rather than relying heavily on revenues generated through the sale of citizenship.
The comments come at a time when regional governments are facing increasing international scrutiny of CBI programmes and are moving to strengthen regulatory oversight. Organisation of Eastern Caribbean States (OECS) member states are currently advancing plans to establish an independent regional regulatory authority to enhance transparency, credibility and harmonisation across participating programmes.
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