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Business Profile
Economy: The island is still recovering from the volcanic explosion of January 1997 which destroyed much of the island’s productive capacity. Previously, Montserrat had a diverse economy. The agricultural sector produced vegetables, cotton and livestock. The industrial sector, which employed one-third of the workforce and earned the bulk of Montserrat’s export income, was concentrated in food processing and the assembly of electronic components. In the service sector, data processing and financial services were two important growth areas.
For the time being the economic priorities for the island are reconstruction and improvement of the basic living conditions for those islanders who remained during the eruption or have since returned. However, there is now a limited amount of land that can be used for either agriculture or reconstruction. Foreign aid – principally a US$125 million package from the UK which came on stream in 1999 – has been essential.
Business: A short- or long-sleeved shirt or safari suit is suitable for most business visits. Office hours: Mon-Fri 0800-1600.
Commercial Information: The following organisation can offer advice: Development Unit, PO Box 292, Brades (tel: 491 2066; fax: 491 4632; e-mail: devunit@candw.ag; website: www.mninet.com/devunit).
Conferences/Conventions: Contact Montserrat Tourist Board for further details (see Contact Addresses section).
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