25 Jul, 2019Closed.
Caribbean Export is seeking the professional services of a consultant whose primary goal will be to provide support to Anguilla, Sint Maarten and Montserrat through the development of strategic and operational plans for the establishment of investment promotion intermediary (IPI) functions in these countries, as well as operational and stakeholder management and engagement plans for the IPI.
In 2001, UNCTAD reported that there were about 164 national Investment Promotion Agencies (IPAs) and well over 250 sub-national ones, with continued growth expected, as countries improved on their strategies to attract the foreign direct investment (FDI) needed to grow their economies. IPAs have become increasingly sophisticated, given the dynamic and competitive global environment in which they must operate. Investor targeting, providing advice to potential investors and policy advocacy to improve the business environment are key objectives that countries are now placing focused attention on, in order to distinguish themselves to investors. IPAs are usually charged with these tasks – investor targeting, investor aftercare and policy advocacy.
In the Caribbean, support to investment promotion has been provided by Caribbean Export through its work with the Caribbean Association of Investment Promotion Agencies (CAIPA). CAIPA is an umbrella association of IPAs in the Caribbean that seeks to increase the capacity of the region’s investment promotion professionals to target and attract FDI and assist the IPAs to execute their investment promotion mandate. The Association also seeks to promote the Caribbean as a location for investment, noting that investors tend to think regionally first before identifying national territory for their investment. The Association’s philosophy is that promoting the Caribbean as a destination, presenting the region’s value proposition, increases the likelihood that any one territory in the region will attract the investment over competing regions like Central America. Since its inception, the Association has grown from 7 investment promotion members to 23 members.
The support provided by Caribbean Export through CAIPA has included (1) capacity building, to ensure that CAIPA members have the human capital, and are properly equipped to compete for FDI; (2) Caribbean investment brand development and promotion, to ensure that the Caribbean Region is recognized as a preferred location for investment; (3) research and data gathering, to ensure the development of a bank of relevant, timely and accurate data, and information management tools to support the work of national IPAs; and (4) policy advocacy, to ensure an improved and more competitive operating environment for investment generation in the Caribbean. This support has primarily benefitted the members of CAIPA who have existing IPAs or investment promotion intermediaries (IPIs) acting as CAIPA focal points and beneficiaries of the CAIPA support.
There are, however, relatively new CAIPA members who do not currently have an IPA nor a functioning IPI. Given the high dependence of Caribbean states on FDI, it was deemed necessary in 2018, that CAIPA focus attention on providing support to these members through the establishment of a CAIPA Overseas Countries and Territories (OCTs) Helpdesk. The CAIPA Executives agreed that the CAIPA Secretariat would provide the personalized approach needed in the short to medium term to focus attention within the OCTs on investment promotion, enhancing the OCTs´ ability to attract and retain much needed foreign direct investment and increasing the rate of integration of these CAIPA members into the wider Caribbean and CAIPA.
This initiative will seek to accomplish these objectives through the provision of technical assistance to 3 CAIPA OCTs members, namely, the Ministry of Finance, Economic Development, Commerce, Land & Physical Planning and Tourism in Anguilla, the Office of the Premier in Montserrat and the Department of Economy, Transportation & Telecommunication, within the Ministry of Tourism, Economic Affairs, Transport and Telecommunication in Sint Maarten. These entities do not currently have an operational IPA but have indicated a willingness and a desire to establish and provide investment promotion services through existing bodies. They, however, require support to enhance their capacity to undertake these duties.
Funding for this initiative will be provided by the European Union (EU), within the framework of the 11th European Development Fund Regional Private Sector Development Programme.
Interested parties are required to download the full terms of reference and submit a technical and financial proposal to Damie Sinanan, Manager, Competitiveness and Export Promotion, at [email protected] , copied to Suzette Hudson, Snr. Advisor, Investment Promotion at [email protected]
The deadline for submissions has been extended to 4:30 p.m. Barbados Time on 12 August 2019.