On January 25, FIPCOM, chaired by Michel Vogel, organized its first breakfast of exchanges of 1 bringing together key players from the economic and institutional world of Saint-Martin, in the presence of Hervé Mariton, President of the FEDOM, Senator Annick Pétrus, Prefect Vincent Berton accompanied by Chief of Staff Marie-Hildegarde Chauveau, 3rd VP of the COM Dominque Louisy and Laurent Renouf, general delegate of FEDOM.
Hervé Mariton stressed the need to preserve social exemptions in the Overseas Territories, which are crucial for economic dynamism in the face of high unemployment. He also warned of the low level of investment in Saint-Martin and the impact of ongoing tax reforms: “When we look at the different overseas territories, the share of market production is quite low compared to the development of the public sector, there is still a lot of work to be done”. He also stressed the need to extend tax exemption schemes to sectors such as hotel renovation and the digital economy, which are essential for the sustainable development of Saint-Martin. Annick Pétrus highlighted the central role of local representatives and organizations such as MEDEF in defending the interests of businesses, welcoming their efforts to alert and mobilize parliamentarians and national institutions. Security challenges and insufficient infrastructure are holding back the local economy, as noted by Prefect Vincent Berton. However, he expressed optimism about the island's potential, particularly through regional cooperation and increased state support.
URSSAF recovery: a peaceful dialogue
The director of MICOR (Mission de coordination Sécurité sociale Outre-mer), Jean-Yves Casano, announced a temporary freeze on forced actions for the recovery of social security contributions. Recognizing internal dysfunctions, he emphasized strengthening dialogue with companies, in particular via a toll-free number for emergencies by July 2025, in order to facilitate deadlines and prioritize amicable recovery.
Banking sector: a key role in economic support
Local banks, although stable, must strengthen their support for companies in difficulty. While investment credits remain stable, operating credits are experiencing a decline, a sign of a slight improvement in cash flow. However, the speakers called for pre-financing mechanisms for European funds, in order to compensate for payment delays. Angèle Dormoy, President of the CCISM, was keen to add a positive touch, recalling the great progress in terms of synergy and financing: “I was the first a few years ago to say that banks are not playing the game, today this is no longer the case, they are there for companies”.
A call for collective action
The debates, moderated by Melinda Jerco and Sandrine Jabouley, highlighted the urgency of action on several fronts: reducing social security contributions, simplifying access to European funding, reducing insurance costs for the construction industry and promoting appropriate tax incentives. While much work remains to be done, with increased coordination between public and private stakeholders, Saint-Martin could overcome its structural challenges and revive its economy.
A nod to the young people of the Daniella Jeffry vocational high school
Once again, a big thank you and congratulations to the young people and teachers of the hotel/restaurant section of the Daniella Jeffry vocational school which hosts the Entrepreneur's Breakfasts. Magnificent buffet and quality service provided by our talented Saint-Martin youth. _Vx
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