Invest TCI Strengthens Strategic Alliances at NABHOOD 28th Annual Summit

Providenciales, Turks and Caicos Islands – August 29th, 2024— Invest Turks and Caicos (Invest TCI) proudly participated in the 28th Annual International African American Hotel Ownership and Investment Summit, held from July 24th to 26th at the Miami Marriott Biscayne Bay Hotel, Florida. This prestigious event, hosted by the National Association of Black Hotel Owners, Operators, and Developers (NABHOOD), is a leading platform advocating for minority ownership and development within the hotel and hospitality industry.

The summit brought together a diverse group of industry professionals, including hotel owners, investors, developers, and operators, creating a fertile ground for knowledge exchange and networking. As a proud sponsor of the summit, Invest TCI not only elevated its brand visibility but also gained critical market insights and forged valuable connections with industry leaders. Representing Invest TCI were Senior Vice President of Investment Services, Mr. Keno Forbes, and Investment Executive, Mr. Salik Garland, who both played pivotal roles in the event’s proceedings.

Mr. Keno Forbes, Senior Vice President of Investment Services, contributed his expertise in two key plenary sessions. The first, titled “Capital Forum,” delved into attracting investors, securing capital funding, and exploring joint ventures and strategic methods for deploying funds in various projects. His second session, “Growing the Caribbean Investment Market: Working with Governments,” focused on strategies to enhance the Caribbean’s investment appeal by fostering stronger collaborations with governments.

Reflecting on the summit, Mr. Forbes stated, “The sessions were both enlightening and insightful. The Turks and Caicos Islands, recognized as one of the fastest-growing economies in the region, offered a unique combination of fiscal and political stability. These attributes are highly attractive to serious investors, and our presence at the summit allowed us to effectively promote the country’s lucrative investment opportunities in the hotel sector.”

Invest TCI’s active involvement extended beyond these sessions, with further participation in strategic discussions throughout the summit. Mr. Salik Garland, Investment Executive, participated in the “Caribbean Investment and Development Forum – Rebounding” plenary session. This discussion centered on emerging opportunities for investment and development within the Caribbean, with a focus on factors critical to success.

During the session, Mr. Garland articulated the top reasons to invest in the Turks and Caicos Islands, emphasizing the significance of sustainable and equitable investments. “Attending the 2024 NABHOOD Summit in Miami was an invaluable experience,” Mr. Garland remarked. “It offered numerous opportunities to engage with industry stakeholders, network with leading brands, and connect with our counterparts from the Bahamas and other Caribbean islands. This summit significantly enhanced the visibility of the Agency and the islands, fostering strategic partnerships that will drive future investments in our country.”

As Invest TCI continues its mission to create an enabling environment for businesses and investors to capitalize on sectoral opportunities, participation in such high-caliber summits is crucial. The connections and collaborations forged at the NABHOOD Summit are expected to pave the way for meaningful partnerships, further solidifying the Turks and Caicos Islands as a prime destination for investment in the hotel and hospitality sector.

Invest TCI remains committed to its role as a catalyst for growth, ensuring that the Turks and Caicos Islands remain at the forefront of global investment opportunities.

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About Invest Turks and Caicos

Invest Turks and Caicos is the Islands’ Investment Promotion Agency, responsible for enhancing the economy through the attraction, growth and retention of overseas investment; and supporting the growth of local businesses.

We provide a free and confidential service to overseas businesses looking to expand and will work with a company project team throughout the investment process, providing advice and support. This can include:

– Information on the local business climate;

– facilitating contact with relevant Government Departments throughout the investment  process;

– advice on Government incentives and concessions to investors;

– introductions to local service providers/suppliers;

– advice on work permits and permanent residency procedures;

– ongoing support following set up.

We also work actively to support the growth of local businesses, including the management and delivery of the Micro Small and Medium Enterprise programme which provides concessions and reliefs to locally owned businesses.