UNIDO helps improve quality of investment projects in the Caribbean

UNIDO helps improve quality of investment projects in the Caribbean

ROAD TOWN, BRITISH VIRGIN ISLANDS (BVI), 8 November 2019 – The United Nations Industrial Development Organization (UNIDO), the Caribbean Association of Investment Promotion Agencies (CAIPA) and the Caribbean Export Development Agency (Caribbean Export) organized a five-day workshop to improve the quality of investment projects presented by investment promotion agencies (IPAs) in the Caribbean to potential investors; it was attended by 22 investment promotion officers from Anguilla, Antigua and Barbuda, Barbados, Belize, the British Virgin Islands, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Trinidad and Tobago and the Turks and Caicos Islands.

The workshop focused on UNIDO’s methodology for the identification of investment opportunities and the formulation and appraisal of investment projects based on UNIDO’s Computer Model for Feasibility Analysis and Reporting (COMFAR). COMFAR facilitates the fast computation of financial statements needed for financial and economic appraisal of investment projects; the software can be used for small- to large-scale projects, expansion, rehabilitation and modernization of existing enterprises and joint ventures.

“The workshop is taking place at an important juncture for our country given the policy imperative of our Government, which is to develop a core group of professionals able to leverage the technical knowledge and expertise brought about by such collaboration”, said BVI Junior Minister for Trade and Economic Development of the British Virgin Islands Sharie DeCastro. “Countries in the region stand to benefit a lot from similar training activities primarily in the adoption of best practices in the formulation and promotion of investment opportunities”.

The workshop, which was funded by the European Union under its 11th European Development Fund, is part of a broader collaborative framework between CAIPA, Caribbean Export and UNIDO to provide investment monitoring and promotion support to IPAs in the region and to strengthen regional investment promotion efforts, under the UNIDO project ‘Support to Business Friendly and inclusive national and regional policies, strengthening productive capabilities and value chains’ that is being implemented in collaboration with the ACP Secretariat, the World Bank Group (WBG) and the International Trade Centre (ITC).

UNIDO’s interventions will focus on institutional capacity building of national and regional IPAs and will be implemented in Cameroon, Dominican Republic, Ethiopia, Ghana, Kenya, Papua New Guinea, Senegal and Zambia. Beyond the interventions in the above-listed countries, regional best practice sharing activities − such as this workshop − will also be an integral part of the project.

For more information, please contact:

Stefan Kratzsch

Industrial Development Officer, Investment Promotion Division

Department of Trade, Investment and Innovation