INVEST TURKS AND CAICOS HOST 3RD ANNUAL ECONOMIC CONFERENCE

Providenciales, Turks and Caicos Islands, May 24^th, 2022 – Invest Turks and Caicos Agency (Invest TCI) is proud to host its 3^rd Annual Economic Conference on Tuesday, May 24^th, at Beaches Turks & Caicos Resort Village and Spa. Under the theme “Strengthening Our Domestic Investment Landscape,” the one-day conference brought the Government, the business community, and other stakeholders together to discuss the future of investments in the Turks and Caicos Islands, TCIG’s proposed policy changes, and economic trends and their impact on the Islands and all stakeholders.

The key area of focus of this year’s conference was the development of a roadmap for investments in the Turks and Caicos Islands, including the Government’s vision, policy changes, and investment opportunities that benefit Turks and Caicos Islanders. The conference highlighted the strategic focus for Invest Turks and Caicos, examining the path towards economic resilience for the Turks and Caicos Islands.

The conference saw just over 100 in attendance, with opening and welcome remarks by the Deputy Governor, Her Excellency Anya Williams, The Honourable Premier, Charles Washington Misick, and Alvin Hegner, Chairman of Invest TCI. The Honourable E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade, presented on The Role of the Government: Creating the enabling environment. Angela Musgrove, Acting CEO of Invest TCI, spoke on the Strategic Outlook for Invest TCI. The Keynote Address: Exploring/Exploiting new and existing opportunities for economic growth was made by Mrs. Carolyn McDonald Riley, Director, Tourism Linkages Network, Tourism Enhancement Fund, an agency of the Ministry of Tourism (Jamaica) who provided an in-debt overview of the many programmes developed in Jamaica to provide support to and enhance micro small medium enterprises.

The afternoon sessions of the conference took on a more engaging and interactive approach. Attendees were divided into three breakout sessions to debate and discuss various topics such as “Creating and deepening linkages, creating a platform for domestic businesses to leverage FDI,” “Beyond Tourism: Expanding the scope of investment opportunities in sectors other than tourism,” and “Creating the enabling environment.” Each breakout session reported to the broader audience on the group’s views on the topics discussed. Key points of the discussion were recorded and will lead to developing an action plan.

Commenting on the event, Acting CEO Angela Musgrove stated, “Firstly, congratulations to the team at Invest TCI on a successfully executed conference. The conference underscored the need to have a more proactive, strategic and deliberate approach to investment that is inclusive and not disenfranchising. As we move forward with a sharpened focus, Invest Turks and Caicos will ensure its activities are realigned to more strategically welcome foreign direct investment with deliberate efforts to place a greater emphasis on attracting and supporting domestic investment and local investors so that Turks and Caicos Islanders are empowered entrepreneurs and contributors to the TCI economy. The Agency’s focus will be to advocate for and create a more investor-friendly environment where local people are direct and equal benefactors of economic growth and development.”

Honourable E. Jay Saunders focused on the role of TCIG in setting the vision for investment growth and sustainability in the TCI as we forge ahead. He noted that emphasis must be placed on expanding the competitive advantage within all the islands, particularly the family islands. The vision extends to stimulating growth across sectors including renewable energy, housing, healthcare, waste management, food security and financial services. He also stressed the level of priority the government is placing on increasing access to capital and credit facilities. 

The event closed with a round-up of the action going forward and Invest TCI’s commitment to chart the path towards economic resilience for the Turks and Caicos Islands.

For updates on Invest TCI events, visit our website at www.investturksandcaicos.tc or our social media pages at @investtci.

End.

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.