Invest SVG woos Mexican investors

Invest SVG’s Executive director Bernadette Ambrose-Black and Business Facilitation manager Nadine Agard-Juillerat recently returned to the state from Merida, Yucatan, Mexico,{{more}} where they were part of this country’s delegation to the Third Ministerial Meeting for CARICOM and the Sixth Summit of the Association of Caribbean States (ACS).

In a release, Ambrose-Black expressed her enthusiasm at the fact that finally there will be economic cooperation between the countries of the Greater Caribbean Region (Latin America and the Caribbean).

She noted that the Summit was timely and necessary, not just for our individual economic survival in this ever changing global environment, but also for the viability of the region as a whole. According to Ambrose-Black, “a pessimist is an uninformed optimist; as such, the main problem vis-à-vis lack of economic cooperation within Latin America and the Caribbean is that we do not know each other. The time for action and change has come.”

Invest SVG was particularly honoured to have a speaking opportunity at the meeting entitled: “Mexico and the Caribbean in search of new opportunities for trade and investment,” which was held in Merida, Yucatan, Mexico, on April 28.

At this meeting the Agency delivered individual presentations on four thematic and economic focus sectors: Agriculture, Infrastructure, Tourism, and Renewable Energy. By way of visual depictions, investment opportunities in each area were highlighted.

“In so doing, the formidable team of Ambrose-Black and Agard-Juillerat were able to solicit investments in Infrastructure (various aspects of airport management and seaports), as well as the area of Renewable Energy (solar PV and wind),” the release from Invest SVG said.

According to the release, discussions are also already under way with Mesoamerican Integration and Development Fund (Ministry of Foreign Affairs, Mexico), for accessing grant funding for the establishment of a central agricultural food processing HACCP compliant facility that promises to meet international standards such as proper packaging, handling, labelling, Sanitary and Phyto-Sanitary measures, that will assist our SMEs in reaching greater export potential and that will lead to a rise in GDP.

“Invest SVG put forward the fact the Government of St. Vincent and the Grenadines is interested in strategic Public Private Partnerships (PPPs) with investors with the willingness and vision. One of the areas recommended for a PPP is the re-development of the waterfront area in Kingstown and the establishment of a regional cargo hub at the Argyle International Airport, seeing that cargo is one of the more profitable aspects of an airport.

“As one of the advocates leading the cause for further regional integration, the Investment Agency also engaged the Assistant Representative of CARICOM in informative and lucrative discussions regarding the role of the Caribbean Association of Investment Promotions Agencies (CAIPA) in the Greater Caribbean Region and ways and means in which formal and official ministerial validation of the regional promotions agency can be obtained, as well as facilitate the inclusion of the entity on regional ministerial agendas,” the release said.

Additionally, Invest SVG supports the view that Caribbean SMEs have become somewhat of a flawed denomination and as such steps need to be taken to ensure their survival and ability to compete in the current globalized environment. As such, emanating from this meeting, and as a show of our comrade and advocacy, Invest SVG will actively seek to take up the gauntlet to lead the next forum for SMEs in the Greater Caribbean region and this will be the new growth platform fostering a different kind of trade and investment with the region.

The meeting was attended by Mexican public officials and more than 70 representatives of Mexican private sector companies.