Caribbean Investment Forum to focus on three platforms

Last Updated on Wednesday, 3 April 2024, 15:54 by Denis Chabrol

The Caribbean Export Development Agency (Caribbean Export) has crafted a strategy to attract investment in three key areas at the Caribbean Investment Forum (CIF) to be held in Guyana later this year, a top official said Wednesday.

Caribbean Export’s Executive Director, Deodat Maharaj said the event slated for July 10-12, 2024 at the Arthur Chung Conference Centre, Liliendaal, Greater Georgetown would be focussing on the green economy transition,

“We believe that it is pointless for us to exist as Caribbean Export unless we drive an agenda that’s transformational in nature so we are keen to focus on sectors that can really drive transformation for our region,” he said at the CIF’s media launch at the Georgetown Marriott.

He identified the three sectors as a green economy transition, agriculture technology, and Information, Digitalisation and Technology.

Mr Maharaj explained that the green economy transition would generate 400,000 additional “high-paying” jobs in the Caribbean, while recognising “our climate vulnerability.” He said the focus would be on focussing on harnessing technology for agriculture in countries such as Guyana, Belize, Suriname, Trinidad and Tobago, and Jamaica. “Leveraging technology in agriculture is critical and we are committed to getting investors in this particular sector,” the Caribbean Export official said. He said Information, Digitalisation and Technology is aimed at leveraging technology and innovation to create well-paid jobs in the services sector.

According to the Caribbean Export official, CIF would be having a “forensic focus on getting the right people at the table”  to have “less talk and more business.”

The European Union (EU), Guyana government, Caribbean Community (CARICOM) Secretariat, Republic Bank and the Export-Import Bank of Trinidad and Tobago are supporting CIF.

First Counselor – Head of Cooperation at EU Delegation to Guyana, Surinam and Caribbean Overseas Countries Territories, Joan Nadal Sastre said the EU was eager to forge greater business ties with the Caribbean. “One thing is clear: The European Union wants to do more business with the Caribbean and more EU companies sh0uld see the Caribbean as an investment opportunity. We want to be a key business partner for you and we have a lot to put on the table,” he said. Mr Nadal noted that the EU has offered to reconnect Europe with the world including the Caribbean to boost innovative, sustainable and transformative investment by leveraging private capital with EU public financing.

Guyana’s Tourism, Industry and Commerce Minister, Oneidge Walrond urged the region to “innovate” to address challenges and opportunities in the areas of of food security, renewable energy, and forest climate services.

Previous CIFs had been held in Dubai (2022) and The Bahamas (2023).