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Caribbean investment promotion agencies to meet in Bahamas
Published on November 23, 2012 Email To Friend    Print Version

BRIDGETOWN, Barbados -- A meeting of the Caribbean’s investment promotion agencies (IPAs) is scheduled to take place on November 27 and 28, 2012, in The Bahamas.

Entitled “Strengthening our Foundation, Expanding our Reach”, the two-day conference will explore strategic approaches for increased collaboration between investment promotion agencies within the framework of a Caribbean Association of Investment Promotions Agencies (CAIPA).

Site selection firms have noted that investors view the Caribbean region as a whole, prior to fine-tuning their selection processes to a single territory. Therefore, in the promotion of the region, the objectives of integration can be enhanced, by the strengthening of the Caribbean as an economic bloc. This will increase the attractiveness of the investment proposition and the likelihood of securing investments to any single territory.

In light of the global financial crisis, that has resulted in a scarcity of direct foreign investment and where competition has intensified, the development of a work programme for 2013 that positions the Caribbean for investments and creates economies of scale in the utilization of scarce investment promotion resources is a key outcome of the event.

The conference also seeks to reinforce the relevance and importance of a regional association of investment promotion agencies, thereby strengthening the regional integration objective. Moreover through the networking of attendees there will be an increased understanding and exchange of information on regional best practices, thus naturally strengthening partnerships with international stakeholders.

The conference will be attended by the heads of agencies and senior staff members of the investment promotion agencies within the Caribbean who are members of CAIPA. Speaking at the event will be Perry Christie, prime minister of the Bahamas and Paul Wessendorp, chief, Investment Promotion Section, Division on Investment and Enterprise, UNCTAD. Representatives from the World Bank and a key investment promotion partner in South America, ProNicaragua, will also be in attendance.

There will also be panel discussions on the development of a regional investment promotion strategy and an investor roundtable that seeks to distill the challenges being faced by regional investors and the opportunities in the Caribbean that are available to existing investors for expansion and re-investment.

The CAIPA Annual General Assembly is hosted by Caribbean Export Development Agency in its role as the CAIPA Secretariat and forms a part of the Regional Private Sector Programme funded by the European Union under the 10th EDF.
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