tidings
Narissa Fraser
Trade Minister Paula Gopee-Scoon has said that this country not only has “a strong drive” to advance renewable energy, but is also “taking important steps to diversify and digitize our economy”.
She was speaking at the virtual launch of the 2022 Caribbean Investment Forum on Tuesday morning.
The event will be held from November 8 to 11 at the Hyatt Regency, Port of Spain under the theme “Building a Smarter and Greener Caribbean”.
It is a collaboration between the Ministry of Trade and Industry, the Caribbean Export Development Agency, the EU, Caricom and the Caribbean Development Bank.
A press release states that the event is “designed to give investors from all corners of the globe the opportunity to explore the range of investment banking projects available across the Caribbean.
“(It) serves as a platform for attracting investments, providing opportunities for delegates to make contacts, create partnerships, deepen relationships and collaborate on various projects.
Gopee-Scoon said that while the region faces a “unique set of challenges”, there are “numerous opportunities to create new avenues for growth”.
The region’s location, accessibility, openness, stability, and linguistic and cultural diversity, she said, have attracted people from all over the world.
In addition, she said, the inclusion of competitive rates and incentives, along with a well-educated population “are important for those looking for a healthy return on any investment.
“The Caribbean Investment Forum is our window to the world and we look forward to welcoming investors and business leaders who wish to strengthen and diversify their products in the fields.
Despite the “troubled past and, to some extent, the present,” she said the world is recovering, adding that the global flow of FDI (foreign direct investment) continues an upward trajectory.
“There are signs of change: companies and governments across the Caribbean are improving and digitizing their services and processes – firms of all sizes have moved their businesses to the region.”
As for TT, she said, a digital society is the government’s “top priority”.
Caribbean Export Development Agency executive director Deodat Maharaj said the forum is an “exciting initiative” and will be the largest gathering of businesses since March 2019, “And as far as I can remember, the largest gathering of businesses in the Caribbean for a very long time”.
He said the forum’s partners “provide eloquent evidence of the innovations leading our way to create jobs and opportunity.
“We at Caribbean Export clearly understand that given the challenges we face as a region, from high debt burdens to declining fragility, that business and investment have an absolutely critical role to play in driving transformation of our region.”
He said the past two years have shown economies the importance of building resilience.
“Covid has put great stress on our economies.
“Businesses and investment have a vital role to play in creating much-needed jobs and opportunities.”
He also talked about “entering the digital world” through e-commerce, technology and digitization.
