INVEST TCI TO SIT ON CAIPA BOARD OF DIRECTORS FOR 2023-2024

Providenciales, Turks and Caicos Islands, January 18^th, 2023 – In a year-end meeting of the members of the Caribbean Association of Investment Promotion Agencies (CAIPA), held on December 19th, 2022, the members elected a new president, Mr. Ronald Theodore, CEO of the Grenada Investment Development Corporation, along with a new Board of Directors for 2 years 2023-2024.

Mr. Theodore, no stranger to CAIPA, worked with the organization when the Association began in 2007 and served as the President of CAIPA from 2013-2014.

Members of the CAIPA Board of Directors were also elected to their posts on December 19th: 1^st Vice President, Ms. Diane Edwards, President of JAMPRO (Jamaica), 2^nd Vice President, Dr. Leroy Almendarez, Executive Director of BELTRAIDE (Belize), Director 1, Mr. Sekou Alleyne, President of InvesTT (Trinidad and Tobago), Director 2, Ms. Rhoda Josephs, Executive Director of IDA (Dominica), Director 3, Ms. Jeanette Bonet, Executive Director of CINEX (Curacao) and Director 4, Mrs. Angela Musgrove, CEO of Invest TCI (Turks and Caicos Islands). The outgoing President, Ms. Annette Mark, Executive Director of InvestSVG, will also support the Board in an ex-officio role.

In her appointment as a Director of CAIPA, Angela Musgrove stated, “Invest TCI has been a strong partner of CAIPA from the Agency’s inception. We are delighted to have a representative on the Board of Directors and will do our part to ensure representation and visibility for the Turks and Caicos and the Caribbean. I look forward to working with my colleagues from around the region to ensure the success of CAIPA.”

In speaking about his vision for the Caribbean and CAIPA, Mr. Theodore noted, “I intend to help position CAIPA as a contributor to the integration process in the Caribbean, pulling the Caribbean together. We are at a crucial point in our history. Investment promotion funding is scarce, investor confidence is low, and the Caribbean is highly dependent on investment to move our economies forward. This is not a time for us to work on our own. We must work together to position the Caribbean as a destination for investment. A rising tide will float all boats. All our countries will benefit if we push a Caribbean brand.” Mr. Theodore also noted that for the period of his tenure, his focus will be on building strategic partnerships.

Mr. Theodore will be supported by members of the CAIPA Board of Directors.

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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 local businesses’ growth, including managing and delivering the Micro Small and Medium Enterprise programme, which provides concessions and relief to locally owned businesses.