 2023 was one of the best years for job creation in St. Lucia in 16 years. Under the stewardship of Prime Minister Hon. Philip J. Peer, last year's hiring surge significantly reduced the unemployment rate to a record low of 14% nationally. Prime Minister Peer's leadership has inspired confidence in the local economy. His policies stimulate economic activity and connect ordinary St. Lucia's with new job opportunities. The government was able to finalize numerous foreign investment projects, building on the economic momentum from 2022. Small businesses are vital for our economic development and the government, under the Prime Minister's leadership, is investing heavily in the micro, small and medium enterprise sector. The youth economy agency and the MSME loan grant facility are breaking down with the youth economy agency and the MSME loan grant facility are breaking down barriers for our youth and local entrepreneurs by connecting them with resources, training, soft loans and grants to fund their ideas and fuel their aspirations. Local businesses are also benefiting from the encouraging economic comeback post COVID-19. The St. Lucia Chamber of Commerce has confirmed that its members hired more workers and reported increased profitability in 2023. The Prime Minister leads a cabinet of ministers and heads a government that will continue implementing the right mix of economic policies to attract foreign investment, stimulate wealth creation and encourage economic growth in the local economy to drive unemployment down into single digits.