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World Bank Group Provides Training to Help Caribbean Nations Attract More Foreign Investment


In Lima, Peru
Clara Ugarte Perrin, IFC
Phone: +511 611 2501
E-mail:
Cugarteperrin@ifc.org


Lima, Peru, September 13, 2011—The Investment Climate Advisory Services of the World Bank Group is providing training that will help Caribbean investment promotion intermediaries attract more foreign direct investment.
 
The Investment Climate Advisory Services of the World Bank Group is hosting a seminar in Miami on Sept. 13-15 that will bring together about twenty individuals who will learn how to help public institutions provide quality information and service to investors during the site selection process. The participating consultants, non-profit organization representatives, and public officials were picked for their investment promotion experience.

Coming in advance of a report finding that 67 percent of Caribbean IPIs are missing opportunities to attract foreign investment, the workshop is envisioned as a step toward establishing a permanent regional training capacity.

The Global Investment Promotion Benchmarking 2012: Eyes on ACP report assesses the investment facilitation of 77 countries in Africa, the Caribbean, and the Pacific (ACP) by assessing their IPIs' websites and responses to two information requests by potential investors in the tourism and agribusiness sectors. Early results of the report, due to be released next February, show that only five of 15 Caribbean IPIs provided information in both cases.    

“If country information is hard to obtain, foreign investors will simply go elsewhere. In the global slowdown, foreign investment offers a rare prospect for growth and employment,” said Alvaro Quijandria, Regional Manager for Latin America and the Caribbean in the World Bank Group’s Investment Climate Advisory Services.

Based on the report’s rankings, the Grenada Industrial Development Corporation was number one in the Caribbean. The agencies of the Dominican Republic and St Kitts and Nevis were among the most improved since the last report in 2009.

About the Investment Climate Advisory Services of the World Bank Group

The Investment Climate Advisory Services of the World Bank Group helps governments implement reforms to improve their business environment, and encourage and retain investment, thus fostering competitive markets, growth and job creation. Funding is provided by the World Bank Group (IFC, MIGA, and the World Bank) and over fifteen donor partners working through the multi-donor FIAS platform.

About the Global Investment Promotion Benchmarking 2012: Eyes on ACP Report

Is a region-specific report coming out of the Global Investment Promotion Benchmarking report, which assesses 189 national investment promotion intermediaries. The report is produced by the World Bank Group's Investment Climate Advisory Services and sponsored by ProInvest, a partnership program developed and undertaken by the European Commission on behalf of several ACP countries.

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