11TH European Development Fund Implementation Report 2017- 2023

ii. Strengthened IPAs’ capacity to increase FDI flows During the 10th EDF RPSDP implementation, the programme’s focus in investment promotion was on capacity building, brand development and promotion, research and information, advocacy, and supporting the sustainability of the Caribbean Association of Investment Promotion Agencies (CAIPA). Under the 11th EDF implementation, the support to CAIPA and regional Investment Promotion Agencies (IPAs) continued with a range of interventions implemented to support IPAs and their ability to attract FDI including study tours and conferences. (1) CINDE Study Tour The programme supported the training of twenty (20) CAIPA members from CARIFORUM and the Overseas Countries and Territories (OCTs) at the Costa Rica Investment Promotion Agency (CINDE) Study Tour, which took place June 28-30, 2017. This support is consistent with CAIPA’s Strategic Plan of building its own capacity in areas of best practices and study tours. The main objective in facilitating the study tour was to provide CAIPA members with the opportunity to learn about good practices in investment promotion, including areas such as establishing an IPA, self-financing, nation branding, investment climate reforms, and investor targeting in the outsourcing sector. This exercise was also intended to widen and strengthen CAIPA’s network reach and connection with new partners in Latin America, and to bring greater awareness and understanding of Caribbean Export’s work in investment promotion. The CINDE Study Tour was successfully executed. From those who provided feedback, 100% confirmed that the workshop met their expectations. Participants gave high ratings for the courses namely the Investment Climate Department, Investment Intelligence Department, Marketing Department and Country Brand & Communications Department. Each IPA committed to an action plan to improve the practices within their agency, guided by the lessons learnt during the study tour. Most participants highlighted that the best practices shared; learning about the Costa Rica’s country brand development; and the overall high quality of information and exchanges shared were among the best takeaways. Persons were eager to apply what they have learnt to their own promotion agencies and were also interested in doing similar study tours in the Caribbean, namely to Jamaica. Others were interested in looking at countries outside the region, such as Singapore and Rwanda to get different perspectives on investment promotions; and some would like to learn more about IPAs in other Latin American countries, namely Nicaragua and Chile. It was evident that based on the assessment of the Study Tour exercise, CAIPA members have a healthy appetite for best practices forums where they can obtain benefits on multiple levels. (2) CANCUN Forum From September 27-29, 2017, Caribbean Export participated in the Cancun Forum which was held in Cancun, Mexico funded by the 11th EDF. The Agency’s participation was part of a strategic partnership with ProMexico, emanating from an MOU that was signed in 2015 to increase trade and investment linkages between Mexico and the Caribbean. At the event, the focus was on investment promotion. The specific objective was to increase awareness among Mexican firms and investors of investment opportunities in the Caribbean; and to increase awareness of CAIPA and Caribbean Export. CAIPA hosted a booth at the event providing exposure for the Association’s investment opportunities catalogue. Three CAIPA members also participated namely, BELTRAIDE from Belize, CFI-Haiti and the CEI-RD from the Dominican Republic. Thirty-six (36) enquiries were registered and of these, 5 investment leads were generated, exceeding the 2 leads expected. There were three strategic meetings convened during the forum: Cancun and Puerto Morelos Association of Hotels; Council of Chambers of Cancun and IberoNet. Coming out of the meetings, it was agreed that CAIPA’s investment catalogue would be further disseminated throughout networks in Mexico; and a signed MOU with IberoNet would allow for increased linkages with Latin American investment promotion agencies. (3) Building CAIPA’s Online Capacity to Attract FDI On April 24, 2020, the programme, in collaboration with the CAIPA and Conway Inc., hosted a webinar for CAIPA members entitled: “Online Marketing in the Age of COVID-19.” The webinar was critical for one hundred and eighty-three (183) representatives from CAIPA members that attended, specifically for the members who were unable to conduct inward and outward missions to attract investors because of the pandemic. The training focused on online marketing techniques and introduction to online investor-lead generation tools. After the training, a “CAIPA LinkedIn Challenge” was held, which was a training and competition that introduced CAIPA members to the LinkedIn platform; the challenge was also a lead generation and networking tool. The

Implementation of the 11th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP)

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