CAIPA Participates in the World Investment Forum (WIF) 2014
October 13-16, 2014
Photo 1 - CAIPA booth at the WIF in the Investment Village
Photo 2 - Ms. Racquel Moses, President of invesTT (second from left) accepts UNCTAD Investment Promotion Award for Excellence in Promoting FDI for Sustainable Development
Photo 3 - The Caribbean Investment Forum at the WIF 2014: On the podium from left: Dr. Jean Alain Rodriguez, Executive Director, CEI-RD; H.E. Ambassador Dr. Marion Williams, Permanent Mission of Barbados to the United Nations, Barbados; H.E. Mr Khaalis Rolle, Minister of State for Investments in the Bahamas; H.E. Mr. Stanley Palm, Minister of Economic Affairs and Tourism of Curaçao; and Mr. Escipion Oliveira, Deputy Executive Director, Caribbean Export Development Agency.
Article: Caribbean Association of Investment Promotion Agencies (CAIPA) in collaboration with the Caribbean Export Development Agency, led a strong contingent of Caribbean representatives to the World Investment Forum 2014 (WIF2014), that was held in Geneva, Switzerland during the period 13-16 October 2014.
The Caribbean’s participation in the WIF2014 was with a view to promoting the Caribbean as an ideal investment destination and increasing awareness of CAIPA. Against this vein, the Caribbean delegation participated in the Investment Village with a CAIPA booth that allowed all the investment promotion agencies from the region to display their collateral material and engage in discussions with other delegates to the WIF2014 on their investment opportunities. Coffee and other products from the Caribbean were displayed and also served to visitors to the booth.
The WIF2014 began on a good footing for the Caribbean with the announcement on day 1 of the event of invesTT (the Investment Promotion Agency of Trinidad & Tobago) as one of the 4 winners of the prestigious UNCTAD Investment Promotion Award for Excellence in Promoting FDI for Sustainable Development. InvesTT’s submission was based on Gravita India Ltd. a publicly held entity and investor from Jaipur, India which specializes in the recycling and trade of lead internationally. The award follows those won by other regional IPAs such as the Grenada Industrial Development Corporation in 2012 and Jamaica Promotions Corporation (Jampro) in 2013.
On the final day of the WIF2014, a Talking Business Caribbean Forum was also held in collaboration with UNCTAD to draw attention to the investment opportunities in the region. UNCTAD’s Deputy Secretary-General, Mr. Petko Draganov, opened the session welcoming participants to the event and noting the strong performance of the Caribbean in FDI attraction over the years. Mr. Escipion Oliveira, Deputy Executive Director to Caribbean Export and Mr. Ronald Theodore, President of CAIPA, spoke on the contribution of Caribbean Export and CAIPA to promoting investment in the region. These discussions were followed by each investment promotion agency highlighting the investment opportunities in each territory.
Eight Caribbean countries participated in the WIF2014 including, the Bahamas, Barbados, Curaçao, the Dominican Republic, Grenada, Haiti, Jamaica, Saint Lucia and Trinidad & Tobago. The Caribbean’s overseas permanent missions to the United Nations, resident in Geneva and Berne also lent strong support to the event.
Also participating in the WIF and the Caribbean events were 3 Ministers of Government from the region, namely, H.E. Mr. Stanley Palm, Minister of Economic Affairs and Tourism of Curaçao, H.E. Mr. Khaalis Rolle, Minister of State for Investments in the Bahamas and Dr. Jean Alain Rodriguez, Secretary of State, Executive Director of the Centre for Export and Investment (CEI-RD) of the Dominican Republic.
The World Investment Forum (WIF) is a high-level, biennial, multi-stakeholder meeting that is designed to facilitate dialogue and action on the world’s key emerging investment-related challenges. The event sought to provide a platform where a debate on “investment for development” can take place, in order to promote investment flows that contribute to sustainable and inclusive development. The event was heralded as its biggest yet, with more than 2,500 participants to working meetings including the World Leaders Investment Summit, a global thought leaders dialogue, a Ministerial Round Table, the International Investments Agreement Conference, the Sustainable Stock Exchanges dialogue, the Investment Promotion Conference and award ceremonies, among others.
The participation of Caribbean representatives was in part supported by the European Union under the 10th Regional Private Sector Development Programme and the Haiti-Dominican Republic Bi-national Programmes, managed by Caribbean Export.