By: Staff Writer
October 24, 2023
The Caribbean Investment Forum is being held at the Atlantis, Paradise Island resort in The Bahamas and is hosting investors from around the world in an effort to pair them up with Caribbean businesses.
Deodat Maharaj, executive director of the Caribbean Export Development Agency (CEDA), said at Monday’s opening ceremony that they are committed to forging a new Caribbean and focusing on pairing up Caribbean businesses with investors from all over the world. “We have institutional investors and businesses from India, Ghana, Kenya, across the Caribbean, North America, and Europe. So I mean, it’s a good sign.”
Mr Maharaj also said: “When I joined the agency (CEDA), and we wanted to do this Caribbean investment forum, the norm has been to promote the Caribbean as a destination in New York and London, and Toronto, and Ottawa and I think that’s good. But we have pro Caribbean people and the place talk about investment and trade is actually right here in the Caribbean.”
This second annual CIF is off to a great start as there is a host of events over the next three days from Investment Villages to Caribbean showcases and the whole gamut of activities for businesses and investors alike.
Mr Maharaj also said: “Essentially, we are a regional organization with a responsibility to support businesses to export their goods and services, and to bring investment to the region. How do we do this? We do this by working with businesses, with matters on the ground, so they can trade more, they can build strong businesses and generate growth and jobs for our people and for our region. I think that our mission must be to advance a transformational agenda for our region and we do this by building business to transform lives by offering innovation and creating new frontiers.”
Philip Davis, KC, Prime Minister of The Bahamas also said: “Our region is so much more than Sun, Sand, and Sea. Even within tourism, there are many avenues for innovation and diversification that remain untapped.
“In sectors such as tourism, energy, logistics, agriculture, and financial services, new possibilities are emerging as we speak. Each of these sectors holds transformative potential, ready to be tapped into and amplified.”
Dr Carla Barnett, secretary general of CARICOM, also noted that the regional body is pleased to partner with CEDA on the CIF because it is a chance to develop meaningful relationships business-to-business.
Dr Barnett also said: “With this second staging, we are reaffirming our commitment to drive targeted investment into priority sectors throughout our entire community. Clearly, the Caribbean is open for business, sustainable, innovative businesses that can propel us to further economic transformation, resilience building and a bold new Caribbean in keeping with the theme of this forum.”