NASSAU, Bahamas, CMC – Prime Minister Phillip Davis says that the Caribbean should be viewed as much more than sea, sun and sand telling investors that even within the tourism sector, “there are many avenues for innovation and diversification that remain untapped.”
“New possibilities are emerging in tourism, energy, logistics, agriculture, and financial services. Each of these sectors holds transformative potential, ready to be tapped into and amplified,” Phillips told the Caribbean Investment Forum (CIF), which ends here on Wednesday.
The Barbados-based Caribbean Export Development Agency (Caribbean Export), in collaboration with the European Union, the Bahamas government, and the Guyana-based Caribbean Community (CARICOM) Secretariat, is hosting the CIF.
The organizers said the CIF would provide delegates to hear from industry experts on opportunities available in key sectors of the Caribbean’s transition to a GREEN-er, SMART-er, more vital region: Agri-Tech, Renewable Energy, ICT, FinTech & Digital Business, Infrastructure, and more.
Davis told the audience that his administration has begun revamping its investment policies and promotional strategies while engaging foreign and domestic investors to bring billions of dollars in new investments into our investment pipeline.
“We maintain that we are a top contender, providing fertile ground for profitable ventures.
We pride ourselves on being a preferred investment jurisdiction. At our core lies a passionate and skilled workforce striving for excellence.
“In financial services, for example, we have among the highest rates of per capita expertise in the world – an educated, talented, and innovative workforce providing services at the highest standards. This fuels our innovative financial services and wealth management offerings and has driven innovations like our digital assets and registered exchanges regulations,” he said. The country’s “strategic proximity to the United States and our tax-neutral status makes us an ideal locale for savvy investors.”
He acknowledged that each Caribbean country has its unique selling points and strengths.
“A significant factor that makes investing in the Caribbean so intriguing is the wide range of possibilities inherent to our geographically, culturally, and economically diverse nations.
“While common ties bind us, each nation’s different developmental and economic realities inform investment goals in each jurisdiction. Today, we have come together in the spirit of CARICOM to champion the Caribbean as a haven for investments and develop integrated regional strategies that align with our developmental goals.”
Davis said such integration is a philosophical concept and a tangible goal that necessitates investment across all sectors.
He said that by creating sustainable energy solutions that empower communities to build resilient agricultural systems and fostering regional tourism synergies, the regional countries are committed to building up a CARICOM community through strategic investments to uplift our people and elevate our business environment.
Davis told the audience that the CIF should be viewed as more than a meeting of mind, adding, “it is a launching pad for regional partnerships, a cornerstone for economic innovation, and a foundation for a brighter and more prosperous Caribbean future.
“Together, we can unlock the limitless potential in our region,” he added.
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