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BRIDGETOWN, Barbados, CMC – The Caribbean Association of Investment Promotion Agencies (CAIPA) has been awarded US$ one million by the Inter-America Development Bank (IDB) to execute several projects over the next two years geared towards increasing Foreign Direct Investment (FDI) into the Caribbean.
The development of a Caribbean database on FDI projects was one of the main items on the agenda of a recently concluded meeting in Trinidad with representatives from Investment Promotion Agencies (IPAS) in the Caribbean.
The IPA representatives met to discuss and agree on a methodology for the development of a Caribbean database on FDI projects
The creation of a FDI projects database is a response to the need for increased access to information on FDI flows into the region and more specifically data on jobs created, the sectors.
“Given the extensive use of FDI incentives in the region, the establishment of reliable and adequate sources of information on FDI will contribute to the debate on the effectiveness of these incentives,” said Diane Quarless Director of ECLAC’s (Economic Commission for Latin America and the Caribbean) Subregional Headquarters for the Caribbean
Participants were also advised of the support services offered by the Caribbean Regional Technical Assistance Centre (CARTAC) to members seeking to improve their external statistics and were made aware of the current aggregate data published by the CARICOM Secretariat’s Regional Statistics Unit.
The meeting was convened by the Caribbean Export Development Agency (Caribbean Export), which is also the Secretariat for CAIPA and UN ECLAC.
