Port Au Prince, Haiti, September 21,
2010—IFC, a member of the World Bank Group, is working with the government
of Haiti to foster a national initiative to promote the implementation
of special economic zones in the country.
Representatives from IFC have presented preliminary findings on the development
of special economic zones in the country as a possible catalyst for reconstruction,
economic growth and job generation in the short term. Specifically, IFC
shared its estimation of market demand for special economic zones, evaluation
of 20 sites from a long list of about 75 proposed by the public and private
sectors, and legal, regulatory, or institutional reforms that would promote
investment and job creation.
Madame Josseline C. Fethiere, Haiti’s, Minister of Commerce and Industry,
said: “Sustainable job creation is a key priority for the Government of
Haiti. We are committed to joining efforts with the private sector
and the international community to develop serviced land that can attract
IFC representatives presented their findings at a meeting attended by high-level
representatives from the Presidency, Prime Minister, and the Ministries
of Finance, Interior, Labor, Tourism, Agriculture, and Public Works. Representatives
from the private sector, civil society and the international community,
including the Korean Ambassador; joined the meeting to discuss one of the
main constraints to new investments and jobs in Haiti—the lack of serviced
“This meeting is an important milestone to help the Government of Haiti
strategically address the local economy’s need for serviced industrial
land,” said Ary Naim, IFC Country Head for Haiti and the Dominican Republic.
“Successful implementation will be directly measured in terms of investments
attracted and jobs created”.
In October, the Government of Haiti and IFC will hold broader consultations
that will focus on the necessary reforms to foster the establishment of
special economic zones in Haiti.
IFC responded swiftly in the aftermath of the earthquake that struck Haiti
last January. Since then, IFC has made available $49.6 million for nine
projects. IFC is focused on helping rebuild Haiti and reactivate growth
through investment and advisory services, in priority sectors such as garments,
infrastructure, telecommunications, tourism, and finance.
IFC’s Haiti Investment Generation Strategy seeks to generate new employment
in the country by attracting investment and the implementing special economic
zones to accommodate a pipeline of investments amounting to $51 million.
The strategy has three pillars: investment promotion, special economic
zones, and public-private dialogue.
IFC, a member of the World Bank Group, is the largest development institution
focused on the private sector in developing countries. We create opportunity
for people to escape poverty and improve their lives—by providing financing
to help businesses employ more people and provide essential services, mobilizing
capital from others, and delivering advisory and risk-management services
to ensure sustainable development. In a time of global economic uncertainty,
our new investments climbed to a record $18 billion in fiscal 2010. For
more information, visit www.ifc.org/lac.