Bahamian Prime Minister Phillip Davis says 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”.
“In sectors such as tourism, energy, logistics, agriculture, and financial services, new possibilities are emerging as we speak. Each of these sectors holds transformative potential, ready to be tapped into and amplified,” Phillips told the Caribbean Investment Forum (CIF) which ends in Nassau, Bahamas on Wednesday.
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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 are hosting the CIF.
The organizers said the CIF will provide delegates to hear from industry experts on opportunities available in key sectors of the Caribbean’s transition to a GREEN-er, SMART-er, stronger, region: Agri-Tech, renewable energy, Information and Communications Technology, FinTech and 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,” he said.
“We pride ourselves on being a preferred investment jurisdiction. At our core lies a passionate and skilled workforce, always 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 is what fuels our innovative financial services and wealth management offerings and has driven innovations like our digital assets and registered exchange regulations. The country’s “strategic proximity to the United States and our tax-neutral status, makes us an ideal locale for savvy investors,” Davis added.
He acknowledged that each Caribbean country has its own unique selling points and strengths.
“A major factor that makes the prospect of investing in the Caribbean so intriguing is the wide range of possibilities inherent to our geographically, culturally, and economically diverse nations,” he pointed out.
“While we are bound by common ties, investment goals in each jurisdiction are informed by the different developmental and economic realities of each nation. 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,” he said.
Davis said that such integration is not just a philosophical concept but a tangible goal that necessitates investment across all sectors.
He said that from 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 that will uplift our people and elevate our business environment.
Davis told the audience that the CIF should be viewed as so much 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. CMC
