Haiti and the Dominican Republic to Pool Resources to Attract Foreign Direct Investment

The Caribbean Export Development Agency (Caribbean Export) in collaboration with the Centre for Facilitation of Investments of Haiti (CFI) and the Export and Investment Centre of the Dominican Republic (CEI-RD), conducted a workshop on Foreign Direct Investment (FDI) lead generation, in Santo Domingo, Dominican Republic from March 15-17, 2016.

CFI’s General Director, Ms. Norma Powell, opened the session welcoming participants to the event, expressing that “we are happy to work together with the Dominican Republic and other CAIPA (Caribbean Association of Investment Promotion Agencies) members in order to foster a spirit of cooperation in working to improve the investment promotion efforts in the region”.

Echoing her sentiments, Ms. Florence Van Houtte, representative of the Delegation of the European Union (EU) in the Dominican Republic, explained that the workshop “is a concrete step in the right direction, to achieve both countries’ mutual objectives of enhancing their capacity and improving their cooperation in the field of trade and investment promotion”. The EU representative additionally underscored the importance of supporting economic cooperation between Haiti and the Dominican Republic with a view to harmonising their economic relations and strengthening their socio-economic development at regional and international levels.

Ms. Mildred Santos, FDI Market Intelligence Manager of CEI-RD, stated that “the success of our regional and national investment promotion strategies can only be achieved with the strengthening of our agencies and the capacity building to our regional promoters. That is the value proposition of this training and the importance of regional integration for the economic and social development of all Caribbean countries”.

The workshop helped the participants to garner new FDI techniques through the use of good practice methods such as the development of an interactive, hands-on approach that is grounded in accepted adult learning theory.  In addition how case studies can be used as a mechanism to attract investment together with the involvement of best practice investment promotion intermediaries and external experts.  The facilitator of the training was the consultant Mr. Francisco Alvarez Roca, Investment Promotion Advisor and expert on investment attraction and facilitation services.  The sessions brought together 19 representatives from CFI and CEI-RD, as well as other CAIPA members, such as Belize Trade and Investment Development Service (BELTRAIDE); Invest St. Lucia and Invest Turks & Caicos.

Ms. Ileana Tejada, Investment Promotion Expert of the Haiti-DR Bi-National Programme explained that “this project falls within the purview of activities related to the support provided by Caribbean Export for the strengthening the institutional capacity of Haiti and the DR with a focus on supporting investment promotion and strengthening the intraregional ties with the rest of the Caribbean.” The workshop was undertaken within the framework of the Haiti-DR Bi-National Programme, Trade Component, implemented by Caribbean Export and funded by the European Union under the 10th European Development Fund (EDF).

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