Caribbean Association of Investment Promotion Agencies (CAIPA) to Build Capacity and Strengthen IPA’s Regionally
The 4th Annual Caribbean Association of Investment Promotion Agencies (CAIPA) General Assembly, held under the theme ‘Towards an Enhanced Foreign Direct Investment Strategy: Strengthening our Foundation and Honouring Regional Excellence‘, was a successful conference with heavy participation from Investment Promotion Agencies (IPAs) across the Caribbean. Addressing the gathering was a panel of IPA officials, including Michael Singh, Chief Executive Officer in the Ministry of Trade and Investment for the Government of Belize.
During his brief and spirited remarks, Singh emphasized a need for more to be done regionally by way of promoting the Caribbean as a trade and investment destination. Ronald Theodore, President of the CAIPA, also echoed that sentiment. “The shared objective”, said Theodore, “can be achieved by member countries working together to build capacity through training and research development”.
This goal falls under CAIPA’s Strategic and Sustainability Plan, a four-year course of action to strengthen information gathering and information monitoring systems, as well as actively promotes information exchange amongst its nineteen affiliates. Additionally, the two-day AGM focused on several laudable accomplishments over the past year, including the procurement of an investment software, as well as attendance at a recent hotel investment conference in Miami.
The Caribbean Export Development Agency (Caribbean Export) plays an integral role in utilising donor funding in aiding the growth of the private sector within the region and was represented at the meeting by Christopher McNair, Manager Competitiveness and Innovation. According to McNair, CAIPA has to take a critical look at its future since its financial resources, supported under the 10th Economic Development Fund (EDF) by the European Union, comes to an end in 2015. “Members of the organization“, he said, “need to strategically figure out what is CAIPA, what is the vision and how they are going to sustain that idea as a long-term objective“.