The Caribbean Export Development Agency (Caribbean Export) is to support the development of a Joint Investment Promotions Strategy (JIPS) for Haiti and the Dominican Republic that will focus on the mutual development of opportunities that will attract foreign direct investment (FDI). This was announced by Deputy Executive Director for Caribbean Export, Mr. Escipion Oliveira at the inaugural “Invest in the DR” summit hosted by the Export and Investment Centre of the Dominican Republic (CEI-RD) on September 4-5, 2014 at the JW Marriott Hotel in Santo Domingo.
Attracting some 250 investors from over 40 countries and 400 local investors, the Invest in the DR Summit is the first and most important investment event held in the country. It provided an excellent opportunity to generate important business contacts at both a local and international level, while acquiring key insights on industry trends and strategies through various conferences and dissertations for those in attendance. In addition a great wealth of knowledge was shared on how to carry out successful investment projects in the Dominican Republic.
Within the framework of “Invest in the DR”, Caribbean Export in cooperation with CEI-RD organized a conference on the “Binational Strategy of Investment Promotion”, with the participation of Ms. Norma Powell, General Director of the Center for Facilitation of Investment of Haiti (CFI), Mr. Juan Vicini and Mr. Fernando Capellan, representatives of the private sector of the Dominican Republic, Ms. Florance Van Houtte, representative of the European Union Delegation in the DR and Ms. Lidia Encarnación, representative of the National Authority of the European Development Funds in the Dominican Republic (DIGECOOM).
The conference sought to promote the border zone of Haiti and the Dominican Republic as an additional destination to invest in the region, contributing to benefit national economic development and generate decent jobs in both countries, with special focus on the agribusiness, infrastructure (renewable energy, transport and logistics), manufacturing, and the eco-tourism sectors. It is hoped that the JIPS will mutually reinforce the attractiveness, performance and potential as competitive FDI locations for both countries.
Juan Vicini, member of the Vicini Group of the Dominican Republic, stressed the importance of investing in the border zone as a means to guarantee the development and sustainability of both countries, “a border zone with a dynamic economic activity will encourage the population of both countries who are seeking employment to look towards the border zone as a source of work”.
This event welcomed the active participation of Mr. Claude Duncan, Vice President of JAMPRO in representation of the Caribbean Association of Investment Promotion Agencies (CAIPA). Mr. Duncan’s participation was supported by Caribbean Export as part of the 10th European Development Fund (EDF) Regional Private Sector Development Programme and reinforces the integration of regional IPAs and strengthens their capacity to increase FDI.
The development of the JIPS falls within the framework of the Binational Haiti/Dominican Republic Programme that speaks to strengthening the capacity to develop, enforce and implement trade policies and regulations and support investment promotion.