Implementation of the 10th EDF Regional Provate Sector Programme

Under Component 1 of the 10th

EDF RPSDP, Caribbean Export has

successfully developed the Regional

Investment Promotion Strategy (RIPS),

with continued work on the promotion

and implementation of the instrument.

Key activities in the development of

the strategy included the convening

of eight RIPS Steering Committee

meetings, nine RIPS consultations

with 174 regional stakeholders, and

a validation of the RIPS among all 19

investment promotion agencies (IPAs)

and eight other industry stakeholders.

As follow-on to the process, the RIPS

handbook has been developed for

implementation among regional IPAs.

The Agency has also worked to

strengthen the capacity of regional

IPAs and the Caribbean Association of

InvestmentPromotionAgencies(CAIPA)

to attract foreign direct investment.

This was achieved through the

delivery of training and certification to

members, facilitating the participation

of IPAs in outward and inward-bound

investment missions, hosting Foreign

Direct Investment (FDI) related events,

and supporting the brand optimisation

and positioning of CAIPA.

A principal area of development under

Component 1 relates to the provision

of financial assistance to export-ready

and exporting CARIFORUM firms.

This was primarily achieved through

the Direct Assistance Grant Scheme

(DAGS), as well as other financing

programmes. As it relates to the DAGS,

Caribbean Export has awarded 282

grant contracts to regional firms during 2011-2015 with a combined value of €5.8

million. Further, 22 firms have received some €197,000 under the Special Call

for Proposals - Food Safety, and eight SMEs have been awarded €76,660, within

the In- Firm Design and Branding Project. Collectively, these grants have not only

provided access to finance, but also contributed to an increase in exports and

additional employment within beneficiary firms.

Caribbean Export also continued development work in the area of strengthening

high potential niche sectors to benefit from EPA provisions. Activities under this

area involved the delivery of training and certification to 3827 beneficiaries, the

undertaking of eight studies on the needs of these sectors, the convening of 31

meetings/clusters to support firms and associations within the various sectors,

and the support and execution of export promotion activities and platforms for

firms to capitalise on opportunities within the regional, European and wider

international markets.

REGIONAL INVESTMENT PROMOTION STRATEGY

aribbean Export’s work in the area of investment promotion is guided by the

conveyed needs of the 19 IPAs who are members of the CAIPA

, independent

studies of the needs of regional IPAs

, and global assessments undertaken by

organisations such as the World Bank

. During the first year of the 10th EDF

RPSDP implementation, the Agency initiated the proactive engagement of,

and collaboration with, regional stakeholders for the promotion of investment

opportunities for the Caribbean, with the aimof realising the result of developing,

promoting and implementing an investment promotion strategy for the region.

Achieving this result was first dependent on the finalisation of discussions at the

level of the CARICOM Secretariat surrounding the treatment of investments from

regional and third party countries. Against this background, the Secretariat’s

Office of Trade Negotiations (OTN) commenced the development of a CARICOM

Investment Code (CIC), which was designed to provide a framework for the

protection and promotion of intraregional and extra-regional investments,

through the development of a Model Investment Chapter in Free Trade

Agreements (FTAs) for CARICOM.

In 2012, following development of the draft CIC, Caribbean Export commissioned

an international legal expert to review the document. Subsequently, a

meeting of regional stakeholders was convened in Saint Lucia to examine the

recommendations provided by consultant, as well as to discuss improvements to

the Code and to proffer suggestions for the advancement of regional investment

policymaking. Another step towards development of the RIPS was the drafting

IPAs share and document these needs during CAIPA’s Annual General Assembly.

For example, the development of the CAIPA Strategic Plan of 2014 was based on the review of the needs of the Association’s members

Namely the Global Investment Promotion Best Practices Benchmarking Assessment of 2012.

ENHANCING COMPETITIVENESS

AND PROMOTING INNOVATION