SVG returns to board of regional investment promotion agency

St Vincent and the Grenadines through Invest SVG has once again been chosen to serve on the board of directors of the Caribbean Association of Investment Promotion Agencies (CAIPA).

SVG was chosen during CAIPA’s General Assembly meeting (CAIPA AGM){{more}} which is the annual meeting of the investment promotion agencies (IPAs) in the region who are members of CAIPA.

The AGM was held in Santo Domingo, Dominican Republic from November 17 to 18.

The CAIPA AGM was attended by executive director of Invest SVG Bernadette Ambrose-Black and Invest SVG’s Export Development manager Shanna Browne.

Ambrose-Black said that the AGM is the highest policy setting body of CAIPA and it is convened each year in November or December.

The executive director said that the hosting of the CAIPA General Elections to choose the Board of Directors was a special feature of this year’s General Assembly.

She noted that elections are held every two years and this year, the proceedings was guided by the CAIPA Nominations advisor Babs Adenaike, who is also head of the Centre for the Development of Enterprise (CDE) Caribbean Regional Field Office.

Ambrose-Black made a case for SVG to be a Board Director and was successful.

“I highlighted the importance of SVG being part of the Board and what SVG can meaningfully contribute to the development of investment promotions in the region. I stated that Invest SVG has enjoyed a mutually beneficial and long standing relationship with CAIPA since its inception in 2007,” said Ambrose-Black, while noting that Invest SVG and by extension the local Government are strong proponents or advocates of regional integration.

Ambrose-Black noted that she also spoke about, “the respect and distinguished roles” accorded to Prime Minister Dr Ralph Gonsalves and his efforts at regional harmonization. She noted the PM’s strategic position at the regional level, serving in the capacity of spokesperson for Air Transportation, Chair of CARICOM, and the Chair of the OECS Monetary Council.

“Invest SVG could leverage on this position to assist with the development efforts of CAIPA by seeking inclusion on regional agendas for example at the Council for Trade and Economic Development (COTED) meetings. Our PM is one of, if not the most accessible in the region in terms of having time for everyone and taking a keen interest in the social and economic development of not just SVG, but of the region,” Ambrose-Black said.

Meanwhile, she said that CAIPA’s AGM also focussed on a number of other issues, which included, providing a report and update to the membership on the implementation of programme activities and achievements for the year and planning the work programme for the upcoming year.

Discussions were also held on building and expanding the CAIPA network and increasing the Association’s visibility.

Ambrose-Black said that she is of the view that it is important and imperative that CAIPA is formally accepted at the regional level and that a presentation should be made to Heads of Governments and efforts made to build awareness and ensure buy in to the mandate of CAIPA.

“It’s the only way to ensure that we are all speaking in one accord and that we support the ultimate sustainability of CAIPA. It is also important that the various Ministers who sit on the Caribbean Export Board and has responsibilities for CAIPA should be aptly and adequately briefed on CAIPA.”

She added that during the meeting, the Regional Investment Promotion Strategy was discussed and once again, she reminded the participants that steps should be taken to ensure that the strategy does not conflict with but rather complement various national strategies.