SVG Investment Promotion Strategy

St.Vincent and the Grenadines emerged joint runner up in the Best FDI promotion category in the fDi Magazine’s Caribbean Countries of the Future Competition. fDi Magazine is published by the Financial Times Newspaper of the UK.

St.Vincent and the Grenadines was assessed on promotion strategy, incentives, FDI attractions, infrastructure and urban planning projects.{{more}}

It was noted that St.Vincent and the Grenadines’ investment promotions agency NIPI has worked closely alongside the Mustique Company Ltd to build links between domestic and international companies.

Mustique Company (based on the Grenadine island of Mustique) is the oldest, most successful private investment project in the Caribbean.

The fDi Magazine further reported that Government has also led successful public and private sector development including the proposed international airport development cruise ship terminal which has encouraged private inward investment in the islands.

The publication also stated that St.Vincent and the Grenadines’ NIPI has been a strong policy advocate of legislation, to enable higher levels of investment, particularly in the context of the Caribbean Community’s (CARICOM) Single Market and Economy.

Executive Director of NIPI Suzanne Joachim said that she was pleased that existing investors were able to help validate St.Vincent and the Grenadines. She noted that the Mustique Company was one of the investors to actually speak about the investment climate, and about doing business in St.Vincent and the Grenadines at the NIPI-organised London Investment Forum in 2004. Joachim feels that Mustique Company’s endorsement may have helped to clinch the Quatre Island Development.

She also noted that linkages were developed and promoted in areas such as tourism and agriculture in the country and believes that this was another factor which earned NIPI the runner up title.

Joachim said “For an organisation which was launched in 2004, the award is a milestone achievement. It has validated the organisation.” She noted that the NIPI is structured and well organised. She praised the hard-working staff for their commitment.

fDi’s panel of Judges assessed 13 Caribbean countries in 7 categories using 26 criteria to judge which locations offer investors the best deal. The categories were Economic Potential, Cost Effectiveness, Human Resources, Transport, IT and Telecommunications, Quality of Life and Best FDI Promotion Strategy.