In a recent release by the Financial Times, the Commonwealth of Dominica has ranked #8 in “Foreign Direct Investment (FDI) Strategy” and #6 in “Cost Effectiveness” in the Caribbean and Central American Countries of the Future 2015/16 report. The Financial Times in its FDI Magazine, August Edition presented the full report which highlighted the top countries in various categories as well as the overall countries of the future for that region. The anticipated report was welcomed in the Caribbean but more so by the countries which were selected in the top rankings by the Financial Times, a leader in financial and economic news and statistics.
This achievement for Dominica with the FDI Strategy is linked to the recent collaboration of Compete Caribbean where support was provided to Invest Dominica Authority for a project designed to strengthen investment promotion in the Nature Island. The strategy which included building the Authority’s capacity, staff training and market outreach is currently being executed by the Authority. Part of the program included sector development and identifying key benefits to be attained if Dominica is selected as the investment location. Dominica ranked in the top ten for cost effectiveness.
The Authority is grateful to Compete Caribbean and its donors: The Inter-American Development Bank (IDB), the United Kingdom Department for International Development (DFID) and the Government of Canada for providing the financial resources to develop the strategy, identifying consultants to work with the Authority and ensuring the action plan was executed. Additionally, projects in the OECS are implemented in partnership with the Caribbean Development Bank.
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