Invest Dominica Authority (IDA) has successfully concluded outside of the Caribbean region, two targeted market outreach programs, to increase Foreign Direct Investment. In April and June of this year, representatives of the Authority met with several companies most of which are US owned.
The outreach programs were part of a comprehensive project fully sponsored by Compete Caribbean and which included various other elements: staff training, sector development, technical support, and design of new promotional brochures. These road shows covered companies located in Jamaica, Florida, Maryland, New York, New Jersey and Connecticut. The main sectors being targeted for investment are tourism and BPO/call centres.
The approach executed at the meetings allowed for both sharing of information and statistics and presentation of various slides to help understand the industries in Dominica and what opportunities are available, which may be of interest to these companies as they consider expanding in the Caribbean. It is expected that at least two site visits from each sector will be facilitated over the coming months as a direct result of the meetings held in April and June. The IDA also anticipates at least one decision to invest will be confirmed by one of these companies within the next fiscal year.
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 facilitating this market outreach as this is the first of its kind for Dominica. Additionally, projects in the OECS are implemented in partnership with the Caribbean Development Bank.
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