Implementation of the 10th EDF Regional Provate Sector Programme

ENHANCING COMPETITIVENESS AND PROMOTING INNOVATION

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FDI Databases: Seven licenses were purchased by Caribbean export for access to fDiMarkets, one of the largest databases of investors in the world. The database is owned by the Financial Times and all CAIPA members had access to the software for a period of 12 months so that information on strategy investors could be downloaded and assist in the targeting efforts. The subscription was discontinued due to its high cost.

• An Investor Perception Survey: This was undertaken in 2013

and formed the basis for the development of the RIPS. The survey was undertaken by the Financial Times and studied 100 investors’ perceptions of the Caribbean. Individual country perception studies were also undertaken as a part of this work and the information was shared with each IPA. • Incentives Benchmarking Study: This study was undertaken in 2013 as well with a view to increasing understanding about the region’s incentives used to attract investors. The study highlighted that the Caribbean has some of the highest incentives in the world and it recommended the use of performance based incentives and claw-back mechanisms grounded in a programme of monitoring the performance of investors. programme with the IDB under the Regional Public Goods Programme. The overall objective of the study was to develop a reinvestment programme the Caribbean given that approximately 50% of FDI in developing countries is taking place as reinvestment, according to UNCTAD, and with the opportunity to develop and share best practices in reinvestment across the region. A very positive finding from the survey is that 81% of investors are considering expansion in the host country and a further 61% of investors are considering expansion in other countries in the Caribbean. 71% of investors would be likely or very likely to recommend the host country business climate. These really positive messages show the great potential for IPAs from the region to work with existing investors to secure more FDI. The survey also highlighted the areas in which investors need support from the IPAs and action plans were developed to increase the IPAs capacity to meet these needs and target re-investors. • Virtual Meetings: Each year, Caribbean Export purchases a license for GoToWebinar and GoToMeeting allowing CAIPA members to host virtual meetings as an Association but the IPAs also use the tool to host meetings with investors. The tool offers a cost-effective means of reaching stakeholders and to date CAIPA has hosted 2 webinars, one with a group of Chinese investors and another with business process outsourcing (BPO stakeholders in the region. Another is being planned as a follow-up to the mission to Mexico – with Mexican investors for 2016. • Reinvestment Study: This study was undertaken in 2015 with a survey of 54 regional investors. This activity forms a part of the work

REGIONAL INVESTOR OF THE YEAR AWARD

The inaugural Regional Investor of the Year Award (RIYA) was held in Belize on November 22, 2013 as part of the 4th CAIPA General Assembly. The award is a collaborative initiative between CAIPA and Caribbean Export through funding under the 10th EDF RPSDP. It recognises and promotes the contribution of regional, foreign and local investors to the Caribbean economy, their ability to create new jobs, and adherence to high standards of corporate social responsibility. The award also recognises investors in strategic niche areas of importance to the region, e.g. green energy, research and development and those that involve a high degree of innovation and creativity or are championed by women.

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