Joachim: St.Vincent and the Grenadines progressing well

As Executive Director of NIPI, Suzanne Joachim provides overall leadership and vision for the company.

She envisages the NIPI evolving into a truly best practice investment promotions agency that promotes collective investment for St.Vincent and the Grenadines and in so doing increasing the flow of Foreign Direct Investment (FDI). In some instances, the NIPI is already operating according to international best practice, as the company, through its Board of Directors, reports to the Office of the Prime Minister.{{more}} This ensures that the NIPI gets the full weight of the Prime Minister on multi-sectoral issues. Joachim also sees the NIPI operating in the frontline of the battle to improve the society by promoting competitiveness and growth. She said that investment promotions agencies are key drivers of pro-Corporate Social Responsibility (CSR) initiatives for private / public sector agencies in developing countries.

She stated: I envision that NIPI will assist in ensuring that there is “sense and sensitivity” regarding development / investment. She was referring specifically to the creation of a policy where environmental issues are properly addressed, heritage features are not destroyed, cultural traditions and norms are respected; and as far as possible, without disruption of the developers’ business, the local supply chain is utilised. Caveats, she insists, must be written into development agreements.

In assessing the NIPI’s progress she commented: “I would have to conclude that we are progressing really well. The Commonwealth Secretariat assessed the NIPI as recently as July 2006, when they visited St.Vincent and the Grenadines for the sole purpose of monitoring and assessing the Company. They expressed enthusiastic praise for the Company, particularly regarding our achievements including, but not limited to, the development of the institutional infrastructure, investor database and undoubtedly the number of Active and Pipeline FDI projects, given the fact that the NIPI has only been in operation from October 2003”.