The imperative of foreign direct investment for Caribbean countries – MENAFN.COM

The imperative of foreign direct investment for Caribbean countries – MENAFN.COM

Citizens of the Caribbean are fully aware of the challenges we face. They know that governments across the Region are financially stretched which has been further accentuated by the COVID-19 pandemic. Our citizens also know that we have limited access to either Overseas Development Assistance or concessional financing from global financial institutions and that our options are limited in accessing finance for business development. Our people are clear on what they want - a brighter future for themselves and their children. More specifically, those with whom I speak have an overwhelming interest in either getting jobs or preserving the ones they have so they can take care of themselves and their families. We, at the Caribbean Export Development Agency (Caribbean Export) also recognize these constraints and hear the voices of our Caribbean people. The question is how as a Region, can we emerge from this stranglehold. For us, the solution is obvious - attracting increased levels of local investment and foreign direct investment (FDI). Governments and other stakeholders across the Caribbean must have a singular focus on steering investment our way. To achieve resilience and economic transformation we need to significantly ramp-up and draw investment to our shores. But first,