Investment Climate in the Caribbean Main Challenges and Policy Solutions identified by the CGF national chapters Caribbean Growth Forum Regional Workshop.

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Presentation transcript:

Investment Climate in the Caribbean Main Challenges and Policy Solutions identified by the CGF national chapters Caribbean Growth Forum Regional Workshop June 24-25, 2013 Nassau, The Bahamas

A Snapshot of Key Investment Climate Challenges 1. Access to Capital BH, BL, DO, DR, JA, SU, SVG, TT Concerns about SME/start-upsBL, DO, DR, GR, JA, SU, SVG 2. Better Investment PromotionAB, BH, BL, GR, SL, SU, SVG, TT Investment Policy/Legislative ReformAB, BH, DO, GR, SL, SU Investment Agency Institutional ReformAB, BL, SL Tax Incentive ReformBL, DO, GR, SVG 3. Land Use/Ownership/AccessBH, DO, DR, JA, SL, SU Property registrationDR, SKN 4. Utility Cost ReductionBH, BL, DO, DR, SKN 5. Business registrationAB, DR, GR, SVG, SL Judicial ReformBH, DO, DR, JA Collecting/paying taxesBL, DR, JA

Doing Business

A Snapshot of Key Investment Climate Proposals across CGF action plans Caribbean Growth Forum Regional Workshop June 24-25, 2013 Nassau, The Bahamas ProblemMost common proposed solutions Enhanced Access to Finance – SMEs -Moveable collateral framework and registry -Credit bureau/sharing of credit info. -Stimulate venture capital Enhanced investment promotion -Review investment legislation efficient, equitable, transparent -Specific instruments to support SME development -Tourism: instruments that would stimulate linkages to SMEs -Targeted policies for promising growth sectors Business and property registration -One stop shops + simplified procedures -E-government Energy costs-Energy commission -Fraction cost of linking to the utilities -Incentives to use renewable energy and increase efficiency

Policy that reduces the cost of DB Sharing best regional practice Cooperation to bring best international practice & set regional goals (APEC-style) Implementing regional efforts (investment promotion, access to finance) Regional Opportunities for policy reform provided by the Caribbean Growth Forum

Our Distinguished Investment Climate Panelists Mr. Michael Singh Chief Executive Officer Ministry of Investment, Economic Development and Trade of Belize Mr. Jeffrey Hall Chief Executive Officer Jamaica Producers Group Ltd. Mr. John Williams Chief Executive Officer Cave Shepherd & Co. Ltd. Mr. Alvin Wint Chairman Regional Investment Promotion Steering Committee Mr. Rod Pennycook Chairman Royal Bank of Canada Financial (Caribbean) Ltd. Hon. Khaalis E. Rolle Minister of State for Investment Office of the Prime Minister The Bahamas