STRENGTHENING OUR FOUNDATION, EXPANDING OUR REACH
As a result of the global financial crisis, the competition for scarce foreign direct investment has intensified significantly. Several countries have sought to address the challenges by implementing innovative approaches to the attraction of investment. Among the strategic approaches being explored by the Investment Promotion Agencies (IPAs) of the Caribbean is increased collaboration in investment promotion within the framework of a Caribbean Association of Investment Promotion Agencies (IPAs).
Site selection firms have noted that investors view the Caribbean region as a whole, prior to fine-tuning their selection processes to a single territory. Therefore, in the promotion of the region, the objectives of integration can be enhanced, by strengthening of the Caribbean as an economic bloc. This will increase the attractiveness of the investment proposition and the likelihood of attracting investments to any single territory. For the IPAs that are members of CAIPA, economies of scale in the utilization of scarce resources for investment promotion can also be realized with their capacity enhanced to attract investment to their countries.
It is against this background that the annual CAIPA General Assembly 2012 is being convened under the theme “Strengthening our Foundation, Expanding our Reach”. Through the hosting of this Conference, CAIPA will seek to:
- Reinforce the relevance and importance of a regional association of investment promotion agencies, thereby strengthening the regional integration objective;
- Facilitate the networking of its members, with a view to increasing understanding and engendering an exchange of information on regional best practices;
- Dialogue with its members towards the development of a work programme for 2013 that positions the Caribbean for investments and creates economies of scale in the utilization of scarce investment promotion resources; and
- Strengthen partnerships with international stakeholders.
Regional IPAs that are not members of CAIPA are also invited to the General Assembly, with a view to widening the Association’s reach, scope and ultimate impact.