OECS Business Focus 9 by AMS St. Lucia

Caribbean Alliance Insurance

OECSBusinessFocus Jun / Aug | 1 OECSBusinessFocus Jun / Aug | 1

No. 9

O E C S

Jun/Aug 2018

CONTENTS FEATURE 38. Regional Governments Commit To Establishing 21st Century Governments 39. CDB Adds Electric Vehicle to Transportation Fleet 40. Caribbean Must Strengthen Its Internet Infrastructure 41. ICANN Spearheads Initiative to Build Internet Economy in the Caribbean 42. Digital Transformation for the Caribbean 44. Data Privacy Tops Caribbean Internet Governance Agenda 45. Spike in Cyber Attacks on Regional Companies and Organizations 46. Strengthening the Caribbean Internet Resilience 47. St Kitts and Nevis Government First to Get Unique Internet Identity 48. Silicon Dadli Promoting Tech Entrepreneurship and Innovation in Antigua and Barbuda 49. IICA Contributes To The Introduction Of Technology In St. Kitts And Nevis To Help Nations Recover From Maria And Irma 50. OECS/USAID Early Learners Programme Undertakes Pilot Study On Virtual Coaching Method 52. ARIN Launches Caribbean Forum 54. A Climate of Change for the Caribbean Internet at CaribNOG 15 56. CTU’s 14Th Caribbean Internet Governance Forum Addresses Data Protection And The Impact Of Social Media 57. Caribbean Girls “Hacking” For a Safe Future 58. ARIN and Antigua & Barbuda Government Host Workshop on Internet Resilience 59. CANTO Reaffirms Commitment to Engage Regional Policymakers to Develop ICT Policies 60. Montserrat To Try Digital Eastern Caribbean Dollars With Blockchain Start-Up Bitt 61. Saving Caribbean Coral Reef With A High-Tech Hand 62. Infusing Techonology Into Road Repair 63. CDB Adds Electric Vehicle to Transportation Fleet 64. Embracing E-Learning: OECS Commission and CXC Continue Collaboration Using New Educational Technology 65. Haiti To Bring Augmented Reality And Virtual Tours To Tourist Sites 66. ARIN and BVI Collaborate to Strengthen Internet Resilience 66. CTU Reboots Its Caribbean ICT Roadshow 67. RBC Becomes The First Bank To Launch Contactless Payment Technology Across The Caribbean 67. CDB Adds Electric Vehicle to Transportation Fleet

4. Editors Focus 6. OECS Briefs OECS Commission 8. OECS Foreign Ministers Conclude Successful Fourth Meeting of Council of Ministers - Foreign Affairs (COMFA) 10. Advancing The Availability Of And Access To Poverty And Living Standards Statistics 14. Statement by Premier and Minister of Finance Dr. the hon. Orlando Smith on UK Sanctions and Anti-Money Laundering Bill OECSBusinessFocus Jun/Aug | 2

15. Statement: Premier Donaldson Romeo of Montserrat on the UK’s Public Registers Legislation 16. Mobilizing Against Plastic Pollution In Saint Lucia 17. Eastern Caribbean Regional Climate Change Implementation Plan launched 17. Get Creative with Climate Change & Sustainable Land Management 18. AnguillaN Civil Servants Receive Training to initiate National Energy Efficiency Strategy 18. Facilitating access to health services for persons with disabilities in Saint Lucia 19. Sensitizing high-risk community on Tuberculosis and HIV 19. Regional Debt Coordinating Committee Takes Steps to Improve Transparency on Regional Government Securities Market (RGSM)

78. Economists Urge the Caribbean to Dive Into the “Blue Economy” Wave 79. Bermuda Insurer Acquires Stake in Beacon 79. CDB Allocates US$1 Million to Support CARTAC Programmes in the Region 80. Red Stripe on Track with Cassava Production 81. Moodys Says T&T Outlook Stable 82. IDB: Single Latin America and Caribbean Free Trade Agreement Would Reap US$11 Billion Windfall 83. Staying Financially Liquid During Emergencies 84. KPMG Releases 2018 Caribbean Hospitality Financing Survey 84. Barbados Calls in the IMF to Manage Debt Crisis 85. Cemex Supports Caribbean Cement with US$102 Million Loan For Asset Purchase 85. St. Kitts Passports Sales to Impact More Communities

Governance Guru 20. The CEO & Board Chair Relationship: Colleagues or Combatants?

Tourism 86. CTO and CDB Partner to Double the Number of Hospitality Assured Certified Businesses 87. Copa Airlines to Expand Service to Trinidad and the Caribbean 88. Sandals Expands in Saint Lucia 89. Sagicor Group Jamaica Closes J$39 Billion Deal with Playa Hotels and Resorts 90. interCaribbean Airways: Where It All Began! 91. Bay Gardens Resorts Acquires Fourth Property in St. Lucia 91. Grenada’s Spice Island Beach Resort Bestowed Prestigious Six Star Diamond Award for 5th Year

Money Matters 22. EU Unveils 12 Million Euro Security Programme for the Caribbean 24. Sagicor Group Reports Increases in Revenue, Income and Equity for 2017 24. Republic Bank Ltd’s $1b Debt Ratings Reaffirmed by CariCRIS 26. ANSA MCAL Declares $648m After Tax Profit for 2017 26. Caricom Concerned Over Money Laundering Law 28. CDB Records Strong Growth in 2017 30. Anguilla Programme Board Discusses Recovery Project Aid of 60 Million Pounds 31. Anguilla to Get US$5.6 Million CDB Loan to Meet Debt Obligations 31. CDB Renews Programme of Support for IMFOperated Technical Assistance Centre 32. NCB Bid for GHL Goes Before TTSEC 32. Sagicor Profits Up 44 Per Cent 33. Bank of Montserrat Issues APO of Shares 33. Caribbean Airlines Revenue Up 21% 34. Clearer Skies Ahead, The Future of interCaribbean Airways Economy & Trade 68. WIOC Celebrating The Completion of Phase 1 of WIOC’s Tank Expansion 70. Caribbean Export & CDB Partner to Launch WE-Xport 71. New IDB Report Finds Investment Shortfalls, Inefficiencies Limiting Caribbean Growth 72. CSME is a ‘Work in Progress’ 73. Trinidad’s NGC Signs Major Energy Agreement with Grenada’s GPG 73. St Kitts & Nevis Gets 1,200+ CBI Applications Via Hurricane Relief Fund 74. Regional Economy Rising, but Key Sector Investment Needed 75. IDB: Caribbean requires Ambitious Growth Agenda 76. Joint Responses to International Matters Show Citizen Investment Programmes Can Be Harmonized 77. Department of Commerce Conducts Investment Climate Assessment Survey

Environmental Focus 92. Disaster Preparedness - How Insured Are You 93. Putting The Wrap On Plastics and Styrofoam 94. Lesser Fussing Over Fossil Fuel 95. Work on Antigua Solar Energy Plant to Resume In The Know 96. Caribbean Governance Training Institute - There Is No Better Time For Good Governance 98. Latest Regional Elections Produce Landslide Wins 99. CARICOM Head Welcomes PM Mottley 100. Sandals Resorts Signs ‘Long-Term Sponsorship Contract’ with Cricket West Indies 101. The Road to Success’ Design Highly Acclaimed by Judges 101. Three More Member States Sign On to the Caricom Arrest Warrant Treaty 102. IICA Promotes Root Crop Biofortification for CARICOM 103. American Airlines to Fly to Guyana 103. Arawak Cement Expands Its Product Range Health & Wellness 104. Seven Engage in Prosthetic Limb Production Training in Saint Lucia 104. Raising Awareness On Access To Radiation Treatment 105. Grenada and India Set to Kick-Off Fresh Round of Cooperation 105. Sagicor Calls on Private Sector to Combat NCDs 106. MAJOR MOVES 109. Events 110. Advertiser’s Index www.oecsbusinessfocus.com

THE NEW

S AG I C O R 1 7 5

ENDOWMENT PLAN II

IN 10, 15 AND 20 YEARS

3 NEW Sagicor ENDOWMENT PLANS

175% OF SUM ASSURED The Sagicor 175 Endowment Plan II is a suite of endowment plans which provide life insurance coverage for periods of 10, 15 or 20 years. Let the Sagicor 175 Endowment Plan II be your pathway to a more comfortable and secure future. In addition, to providing you with life insurance, at maturity, the plan pays a lump sum benefit and a bonus that are together equivalent to 175% of the Sum Assured. Contact your local Sagicor Advisor for more details or visit www.sagicorlife.com The Sagicor 175 Endowment Plan II is sold by Sagicor Life Inc, a member of the Sagicor Group of Companies. This product suite provides endowment policies of varying terms with bonuses that are payable at maturity. Where there is no indebtedness on the policy at maturity, the total lump sum payment (inclusive of the maturity bonus) will be 175% of the Sum Assured.

Sagicor Life Inc is rated â&#x20AC;&#x153;A-â&#x20AC;? (Excellent) by A.M. Best Rating Company.

Technology – Presenting New and Exciting Possibilities! power with a clean sweep of all seats resulting in her being elected as Barbados’ first female Prime Minister and now the only female Head of Government in the region. We wish all newly elected Leaders every success as they face the challenges ahead and work towards improving the economic development and prosperity of their respective islands and the well-being of their people.

Lokesh Singh

Publisher / Managing Director

We are almost at the end of the first half of 2018 and what a ride it has been for us all. With three national elections having been held in the region, we have seen unprecedented results with the electorate sending very strong messages. In the case of Grenada, we had a second consecutive clean sweep with Dr Keith Mitchell and his NNP being given a resounding mandate in winning all seats. In Antigua & Barbuda, Prime Minister Gaston Browne’s snap elections saw his ALP being returned to power for a second term with an almost clean sweep of seats. Finally, in Barbados, we saw the election of the Barbados Labour Party led by Mia Mottley elected to

The 2018 Hurricane Season is upon us and the impact of the 2017 season is still fresh in our minds. We urge all to follow the guidance of the authorities and take the necessary precautions to protect themselves and their communities. Our Special Feature in this issue is a Focus on Technology. This emerging sector is the fastest growing industry across the region impacting all spheres of life and persons of all ages in almost every environment. It has the capacity to emerge as a major economic sector harnessing the talent in the region and creating new wealth and a new breed of regional entrepreneurs who can compete globally with the export of their skills and services. The efforts of the region’s current technology

OECS Business Focus Magazine is published Quarterly by Advertising & Marketing Services Limited (AMS), Saint Lucia, in association with the Organisation of Eastern Caribbean States (OECS). Publisher / Managing Director: Lokesh Singh - lokesh@amscaribbean.com Editorial Management Team: Lokesh Singh | Dr. Didacus Jules | Tahira Carter

Graphic Design: Tannel George | Carlisle Searles Advertising Sales: Cennette Flavien - cennette@amscaribbean.com Cleopatra Jules - cleopatra@amscaribbean.com Webmaster: Advertising & Marketing Services

Jun/Aug

Governments have accepted the positive impact of the technology revolution and are forging ahead with e-governance initiatives to improve governance and delivery of services to the public. This sector has also allowed Governments to embrace the BPO (Business Process Outsourcing) industry which has helped to create employment for large numbers of people across the region. We trust that you will be stimulated with the content of our Special Feature and other sections of the Magazine. We urge you to prepare and stay safe during this Hurricane Season and wish you well with professional and personal endeavours. Let’s play our part in helping the region and our people to grow and prosper.

Happy Reading. Lokesh Singh Managing Editor / Publisher

www.oecsbusinessfocus.com OECS Business Focus welcomes contributions from professionals or writers in specialized fields or areas of interest. Reproduction of any material contained herein without written approval, constitutes a violation of copyright. OECS Business Focus reserves the right to determine the content of the publication.

Project Manager: Ashwini Singh - ashwini@amscaribbean.com

OECSBusinessFocus

leaders in forging ahead with the development of this exciting sector needs to be applauded.

Editorial, Advertising, Design & Production: Advertising & Marketing Services P.O. Box 2003, Castries, Saint Lucia Tel: (758) 453-1149; Fax: (758) 453-1290 email: ams@candw.lc www.amsstlucia.com

On The Cover: Technology In Focus

www.oecsbusinessfocus.com

Delta Petroleum

OECSBusinessFocus Jun / Aug

OECS BRIEFS BUSINESS FOCUS

New $150K CIP Option for Antigua & Barbuda Soon

The Antigua Barbuda Labour Party Cabinet on May 15 announced a new option through which investors can obtain an Antigua and Barbuda passport. According to a release from the government, the new option would be made available as soon as legislative changes are made before September. Notes from Cabinet indicate, “Cabinet decided to create a fourth option under the CIP for the sum of US$150,000 per file. The innovative legislative change to the CIP law will be used to fund Antigua’s university at Five Islands.” It continued, “The Cabinet agreed that a university system present on Antigua and Barbuda’s soil will inspire many youth to pursue tertiary education. By securing funding through the CIP mechanism, tertiary education will be made more accessible, less costly, trigger many spinoffs by way of collaboration with other universities, and generate even a greater demand for tertiary education. The proposal will go before the parliament in due course, but before September 2018.”

OECS Briefs

Revenue for the period climbed by 15.5%, from $112.1 million in first quarter 2017 to $129.5 in first quarter 2018. The Group also recorded a 77% improvement in results from operating activities.

“We have to close Diamond, like we have done to Brighton. And we have come up with a beach in Rabacca called ‘Drip’,” he said, adding that excavators have to go closer and closer to the water’s edge to mine sand in Diamond.

Angostura chairman, Dr. Rolph Balgobin, credited the better performance to improved operational efficiency, stringent management of production costs and operating expenses in addition to sales growth efforts.

The situation is exacerbating the environmental hazard associated with sand mining on beaches, the minister said, adding that the government will push ahead towards a total ban of sand mining on the nation’s beaches.

He said all segments of branded business experienced revenue growth over the prior year, led by Bitters in export markets.

Hotel Group Advises Government Against New Room Tax

He noted that the Group’s cost of goods sold, critical for a manufacturing environment, benefitted from improved and aggressive management and were down 10%. “While we are encouraged by the turnaround performance, there remains much work to be done in a challenging economic environment, and our Group will be focusing on efficient and profitable growth and the achievement of targets for 2018,” he said in a statement accompanying the financial results.

Sand Prices Increase As Vincentian Mine Closes

Angostura Profits Up By 77%

Consumers in St. Vincent and the Grenadines will see the price of sand in some parts of the country increase as a result of higher trucking costs

Spirits producers, Angostura Holdings Limited, has reported a 76% increase in profits for the first quarter of 2018. OECSBusinessFocus

Jun/Aug

for about three months. Sand mining at Diamond Beach ended on May 27.

Minister of Works, Julian Francis, made the announcement at a press conference in Kingstown on May 22, where he said a new mining site will open on the seashore at Rabacca and will operate

The St. Vincent and the Grenadines Hotel and Tourism Association in February wrote to Minister of Finance Camillo Gonsalves expressing concern about the Climate Resilience Levy, which would be passed into law on May 3. However, notwithstanding the group’s concerns about the potential negative impact of imposing a tax of US$3 per night on land-based visitor accommodation, the government went ahead and passed the levy into law and has set June 1 as the date when it takes effect. The government says that the money generated by the levy would help the country respond more swiftly to climate change-related events and their impact on public infrastructure and the natural environment. However, in the February 15 letter to the finance minister, head of the SVG Hotel and Tourism Association, Fitzroy O. Glasgow, asked the government to reconsider the tax or to delay its implementation until January 2019.

www.oecsbusinessfocus.com

OECS BRIEFS In making his organisation’s case, Glasgow noted that during the budget consultation, tourism stakeholders had expressed concern about the implementation of the tax in the middle of the year “after our rooms rates have been published, rooms pre-booked and new deals negotiated with our partners in various marketplaces”.

Government Explores Ways To Provide Full Internet Access To Antiguan Schools

Jamaica Activates New Area Code & 10-digit area calling

In the letter, which was copied to Minister of Tourism Cecil “Ces” McKie and Chief Executive Officer of the Tourism Authority, Glen Beache, Glasgow that the SVG visitor accommodation sector experienced in 2017 a lower occupancy level than in 2016.

Grenada to offer e-Passports effective July 2018

As of July 2018, Grenada will officially roll out its e-Passport, putting the country on par with the rest of the region, and making the Machine Readable Passport in use since 2001 a thing of the past. An e-passport is an enhanced secured passport with an embedded electronic chip. Head of the Immigration Department of the Royal Grenada Police Force, Superintendent Esau Pierre and Inspector Leroy Joseph told reporters in late May that it became necessary for the country to move in this direction as an upgraded security measure. Joseph said the security feature of the passport is designed “to increase our security features and security at the border, making it more difficult to change data recording on a passport and, therefore, eliminating some of the fraud which may appear on a passport”. Pierre said all passports issued by the passport office in Grenada would be the Machine Readable e-Passport by 2023.

Antigua & Barbuda government’s chief of staff, Lionel “Max” Hurst, indicated that Cabinet has asked the Antigua Public Utilities Authority (APUA) to come up with a solution to providing consistent and reliable Internet service to the nation’s schools.

Jamaica activated on Thursday 7 June 2018 - 10-digit area calling for local calls as the country put into service the new 658 area code to guarantee number availability.

Giving one example, Hurst noted that the cost of supplying Princess Margaret School with Internet service each month would be in the range of $100,000 to $200,000 per year.

The move comes after the current 876 area code became exhausted, regulator OUR said on its website. Previously, Jamaicans dialed only their assigned seven digits for calls.

Hurst wrote that given the number of secondary schools that would be provided with fully accessible Internet services, the annual bill would exceed several million dollars.

During a “permissive” period until October 30 users will get a phone message reminding them of the new dialing format if they dial seven digits.

He said Cabinet hopes that APUA will find alternative options to allow schools to have full Internet access daily. Representatives from APUA were asked to report back to the Cabinet with proposals in two weeks. Poor and unreliable Internet connectivity were blamed for the country’s inability to allow Caribbean Secondary Examination Council (CSEC) students from taking their exams online. Recently, Ashworth Azille, president of the Antigua and Barbuda Union of Teachers, harshly criticised the education ministry about the absence of reliable Internet in schools.

The original 876 area code was assigned to the Caribbean country in 1996, with the expectation that it would provide sufficient numbers for 20 years. But Jamaica had to consider a second area code in 2009 already, OUR said in a statement. The new code, which will replicate existing local numbers, will be used right after the 876-related numbers end. Jamaica has recommended corporate users and merchants to alter their printing materials and systems to suit the new 10-digit format and avoid confusion. Last year, Jamaica’s mobile subscriptions declined 5.4%, according to the latest official data, while fixed line subscriptions fell by 4.3%.

Additionally, the project leader for the “Computers for the World” initiative, a partnership of the Rotary Club of Antigua, the Bellevue Breakfast Rotary Club of Washington State and the Mill Reef Fund, said poor Internet connectivity in schools could halt the programme. OECSBusinessFocus Jun / Aug

OECS COMMISSION

OECS Foreign Ministers Conclude Successful Fourth Meeting of Council of Ministers - Foreign Affairs (COMFA)

OECS Foreign Ministers Conclude Successful Fourth Meeting of Council of Ministers - Foreign Affairs (COMFA) On May 06, 2017 OECS Ministers of Foreign Affairs concluded yet another successful meeting of the Council of Ministers - Foreign affairs. The meeting was held in Nassau, the Bahamas under the Chairmanship of Senator the Hon. Francine Baron, Minister for Foreign Affairs of the Commonwealth of Dominica, and involved ministerial representation by all members of the Council save represented at the level of Ambassador/Commissioner. The meeting addressed a number of issues of critical concern to OECS Member States including (inter alia) threats to multilateralism posed by developments at the global and hemispheric levels; an examination of the implications for the OECS of the withdrawal of the United Kingdom from the European Union; key developments in the European theatre including the preparations for negotiations between the grouping of African Caribbean and Pacific states (ACP) and the European Union (EU) on relations post Cotonou, as well as the blacklisting of OECS Member States (and others) by the EU as “non-cooperative tax jurisdictions”; the progressive enlargement of the OECS; and joint overseas representation in specified jurisdictions. In welcoming participants to the meeting, the Commission’s Head of International Relations, Ambassador Anthony Severin urged the Council to remain engaged on the key issues of international import, and to strengthen the culture of engagement that existed within the COMFA at all levels. He also encouraged the Council to continue to build, to define and to articulate the OECS perspective of the world and of its place within it. He posited the view that this OECS perspective would serve to guide and better equip the Organisation and its Member States to protect and to promote OECSBusinessFocus

Jun/Aug

the interests and collective welfare of the citizens of the OECS region. Representing the Outgoing Chair, Antigua and Barbuda, Ambassador Anthony Liverpool referred to the severe difficulties experienced by the region through the passage of Hurricanes Irma and Maria in 2017 and pointed to the remarkable example of resilience presented by Member States to the rest of the world in response to those crises. He called for a unified and integrated approach to the challenges faced by Member States, whether in respect of the negative impacts of climate change, or direct negative impacts on the financial services sectors through financial de-risking, loss of correspondent banking services, or blacklisting as non-cooperative tax jurisdictions. The incoming Chair of the Council, Senator the Honourable Francine Baron pointed to the unprecedented challenges facing the region in many spheres, and the necessity for strengthening regional institutions, and developing the processes and protocols to adequately respond to emerging crises. She urged that resilience building be placed at the heart of policy making in the region and pointed to the necessity for re-orienting the region’s citizens to the imperative of mitigation and resilience as two sides of an integrated approach to climate change. The Fourth Meeting of the Council of Ministers - Foreign Affairs reaffirmed its commitment to advancing the purposes, functions and objectives of the OECS Economic Union, and undertook to remain continually engaged toward that end. ¤ www.oecsbusinessfocus.com

PRABHA International Inc

Prabha International Inc 2053 Williams Pkwy, Brampton, ON L6S 5T4, Canada

Tel: 905 -791- 3883

www.qualite.com email: rajneshwalia70@hotmail.com

Pioneers in LED Ligthing for Public and Sporting Areas in the Caribbean High performance sports lighting system designed for all sports venues, from youth to professional sports stadiums with a focus on great connectivity and functionality at affordable pricing.

GAMECHANGER Q-LED Designed for Stadium Lighting, HDTV Broadcasting, Digital Photography and Slow-Motion Recording of fast paced sports lighting venues from professional to recreational levels. With Enhanced Glare Mitigation and Specialized Beam Shapes we are able to paint the playing surface with Smooth Light and keep your neighbors dark and happy. The proprietary optics produce the ideal distribution and beam angles for LED stadium lighting, while saving you up to 70% or more in energy use when compared to traditional stadium lighting. The durable housing, protective lens, and remote driver technology is engineered for stadium lighting applications with the ability to withstand extreme outdoor conditions. GameChanger Q-LED The Most Revolutionary, AWARD WINNING, LED Stadium Lighting Technology On The Market Today!!! LED Lights at Dennery Playing Field Saint Lucia

OECSBusinessFocus Jun / Aug

OECS COMMISSION

Advancing The Availability Of And Access To Poverty And Living Standards Statistics

Advancing the availability of and access to poverty and living standards statistics On 17 and 18 April 2018, the Eleventh Living Standard Measurement Committee (LSMC) meeting was convened at the Radisson Hotel in St. George’s, Grenada. As the steering body for the Caribbean Development Bank (CDB)-funded Enhanced Country Poverty Assessment (CPA) Project, this group meets bi-annually to discuss issues, take decisions and recommend actions to advance availability of and access to poverty and living standards statistics for the OECS region. The objectives of the meeting were, inter alia, to: • Provide an update on the project activities implemented post the Tenth LSMC Meeting;

In his opening remarks Mr. Elbert Ellis, Operations Officer (Social Analyst) at the CDB and the Project Supervisor of the Enhanced CPA Project, commended the OECS Commission for the coordination and quality of the LSMC meetings. He also recognised development partners’ collaborative work to support the OECS Member States to address poverty reduction Mr. Ellis emphasised the importance of collecting data on persons living with disabilities to ensure they are not left out of development projects and programmes. He reiterated CDB’s commitment to bridge financial gaps in Member States to implement the Enhanced CPA.

• Inform on the revised Sustainable Household Data Collection Programme (SDP) matrix;

Project Coordinator for the Enhanced CPA Project at the Commission, Ms. Geraldine St. Croix, updated the meeting on project activities since the last meeting of the LSMC. Members States also provided updates on their progress to support the SDP.

• Adopt the Enhanced CPA bi-annual progress report for JulyDecember 2017 and approve the quarterly financial report for the period ending December 2017;

The highlight of the meeting was Grenada’s launch of their Enhanced CPA, making it the third OECS Member State to achieve this milestone.

• Present for approval the project’s Annual Work Programme and Budget (AWPB) for January-December 2018; and

The meeting was organised by the OECS Commission’s Statistical Services Unit and funded by the CDB. It was attended by Directors and Chief Statisticians of the OECS national statistics offices, social and or economic planners and policy analysts, and representatives from the United Nations Children Fund (UNICEF) and the United Nations Development Programme (UNDP)..

• Discuss the OECS Multi-Dimensional Poverty (MPI) methodological expansion Dr. Gale Archibald, Head of the Statistical Services Unit (SSU) stated this LSMC meeting is notable since it marked the third meeting since the focus is now on matters related to the Enhanced CPA project, marking sustained implementation effort. She also noted that two Member States have already launched their Enhanced CPA. OECSBusinessFocus

Jun/Aug

The meeting was chaired by Ms. Shervonne Alexander, Senior Statistician, St. Vincent and the Grenadines Statistical Office. ¤

www.oecsbusinessfocus.com

Caribbean Awnings

OECSBusinessFocus Jun / Aug

OECS COMMISSION

Re-engineering Teacher Education in the Eastern Caribbean Approximately 100 Education professionals of the 10 OECS Member States participated in the OECS Teacher Education and Professional Development Conference under the theme, “One Voice in ReEngineering OECS Teacher Education”. The two-day event aimed at building a collective response to challenges in the education system in the OECS. Chief Education Officers, Directors of Education, Principals and Deans of the National Colleges, Teacher Educators, Curriculum Officers and teachers all collaborated to identify actions which should be taken to enhance teacher education and professional development and essentially teacher quality. The conference was also geared towards establishing mechanisms for developing evidence-based approaches to teacher education and professional development in the OECS. Sisera Simon, Head of the Education Development Management Unit (EDMU) at the OECS Commission stated: The conference made tremendous strides towards establishing the environment that will boost teacher quality. The discussions and decisions surrounded arrangements with the Eastern Caribbean Joint Board of Teacher Education and the need for it to be responsive to the needs of the Member States. A call was also made to improve on the partnership and networking between Ministries OECSBusinessFocus

Jun/Aug

of Education, Teachers’ Colleges and Schools.” Mrs Simon further elaborated that the EDMU will continue to serve as facilitator and enabler to the networking required to achieve one voice in reengineering OECS Teacher Education and Professional Development. Participants had the opportunity to critically analyze reports on the current situation to determine possible actions towards developing a sustainable in-service professional development programme led by the Teachers’ Colleges of the OECS. I appreciated the collaborative approach to the conference from two different levels. Each Member State was represented as well as the diversity of education professionals who took part in the discussions. We hope to build a plan of actions owned by all of us and that we are all committed to implement. Chief Education Officer for Anguilla Mrs Rhonda Connor said. The quality of teaching is not just about the initial preparation of the teachers but also about the continuing development of the teachers and we were exposed to a number of models which we can try when we get back to our various territories. Vice Principal of Antigua State College Dr. Patricia Benn stated. This conference enabled us to have a deeper mutual understanding of the challenges that we are facing despite

the differences between the education system in Martinique and the other OECS Member States. We have to share more experiences to be able to create synergies and use our limited resources wisely. Ghislaine Shuller, Educative Cooperation Officer at the Academy of Martinique said. Several actions were agreed as the first step in achieving a re-engineered teacher education and professional development environment. These actions will be accomplished through specific activities that will be designed to meet specific and overall objectives related to teacher education and professional development. Some of the major actions include: • Restructuring the Eastern Caribbean Joint Board of Teacher’s Education to be more responsive to the needs of the member states • Enhancing continuing professional development of teachers • Increasing actions research implemented by teachers educators in national colleges. • Creating a structure to facilitate discussions between demand and supply related to education (e.g: increase cooperation between Ministries of Education and teachers’ colleges). The conference which was deemed a success by the organizers and participants was supported by UNICEF, USAID and the Global Partnership for Education. ¤ www.oecsbusinessfocus.com

Going Places

5 Reasons to Use a Travel Advisor for Your Business

1 2 3 4 5

Account Management - We offer you a dedicated Account Manager and support team to service your account. Your Account Manager/Travel Advisor will be responsible for ongoing, effective management of the relationship and serve as the primary liaison with responsibility for client satisfaction. Your Account Manager will monitor your supplier agreements and provide recommendations on how to improve your travel policy. Unmatched Reporting - Travel Advisors work closely with our central accounting office to produce customised reports based on your organisation as a unified client, by department or by the actual traveller. These reports help to support your company’s cost saving initiatives and is proven to reduce travel costs. We provide your company with detailed travel management information on spend, destination and supplier trends. Managed Travel Policy - We work with your company to develop an internal corporate travel policy which reflects what you want to achieve for your business’s budget. We ensure that there is strict adherence from employees to the travel policy. Disaster Management - Our companies can continue to handle business for travellers out of the country following a natural disaster, by utilising the services of our various locations. All travel data is backed up on servers in Dallas, Texas and can be accessed by any Going Places Travel office. Around-the-clock support - Our experienced professionals are available for your team 24/7 via a call centre, emergency hotline and dedicated 1-800 number.

Additionally our corporate booking tool offers modern interfaces, fast response times and innovative features. If your business is looking to offer staff the most advanced tools to make reservations, we can offer the Sabre GetThere product which manages your travel policies. This is for the business which is looking for a one-stop shop for travellers. Work with our team to design a site which meets your business’s needs, by tailoring the site to meet and maintain your travel policies.

Please contact Fernando at fernando.silas@goingplacestravel.com or give us a call for more information goingplacestravel.com

Antigua

(268) 481-2700

Barbados

(246) 431-2430

Dominica

(767) 448-2550

Grenada

St. Lucia

St. Vincent

(473) 440-2945 (758) 452-3282 Jan (748) 457-1841 OECSBusinessFocus / Mar | 13

between the United Kingdom and the Virgin Islands nurtured over the past ½ century. This relationship evolved from direct colonial rule to a progressive constitutional partnership, where the democratically elected Government of the Virgin Islands has clear responsibility for some matters and the United Kingdom has theirs. These responsibilities are spelt out in the Virgin Islands Constitutional Order, 2007 and while it may be that this relationship allows for certain decisions to be made on behalf of the Territory by the United Kingdom, the decision the United Kingdom Parliament seemed to make on 1stMay is not one of them. I maintain that that decision is fundamentally flawed and we will address this unjustified and discriminatory action in every possible and available forum.

Statement by Premier and Minister of Finance Dr. the hon. Orlando Smith on UK Sanctions and Anti-Money Laundering Bill

Naturally, we will also continue to engage directly with the United Kingdom Government in the hope that right and reason can prevail. There is no international standard requiring public registers of beneficial ownership and the BVI continues to meet our information exchange and international cooperation obligations to the United Kingdom and other countries and to meet international standards throughout our international business industry.

Statement by Premier and Minister of Finance Dr. the hon. Orlando Smith on UK Sanctions and Anti-Money Laundering Bill Good Afternoon Ladies and Gentlemen: It is now just over a week since the UK Parliament accepted an amendment to impose public registers of beneficial ownership on the Virgin Islands and other Overseas Territories. My Government continues to consider this a top priority for the Territory and to actively evaluate the implications of that decision and explore all available options. Ladies and Gentlemen we have two principal matters before us. The first of these is what we have recognised as a fundamental breach in the constitutional relationship and modern partnership OECSBusinessFocus

Jun/Aug

Secondly Ladies and Gentlemen, we cannot avoid the fact that this decision poses a significant reputational and economic threat to these Islands and its financial services industry. The BVI has consistently stated that it will not introduce public registers of company beneficial ownership until it is a global standard. I want to assure you that nothing that has happened in the last two weeks changes this position. If a global standard is ever adopted, any public register of beneficial ownership must respect and protect fundamental rights: that is non-negotiable. I encourage all of you to remain as engaged and inquisitive as you have been in the issues surrounding last week’s events. Significantly, this heightened level of unity and engagement is manifesting itself in the community with the organisation of a public non-partisan march on 24th May. Having led the constitutional delegation in 2007 and also as Premier, I fully support the right of the people in this Territory to freedom of expression and freedom of peaceful assembly and association. I fully endorse this march which from all indications will be a seminal event for reflection and solidarity. I also call on all participants to maintain a peaceful albeit resolute posture throughout all events.

I have witnessed and received tremendous support and empathy for our position from persons from all walks of life and from all corners of the globe. I say thank you again to all our supporters, well-wishers and clients for your continued confidence in these Islands. Finally, Ladies and Gentlemen, the Virgin Islands will remain an international standard bearer for financial services. We will stand unified as a Territory and fight the United Kingdom Parliament’s decision for all the violations and injustices that it represents. ¤

www.oecsbusinessfocus.com

By this, the Government of Montserrat confirms to the international community, of which the UK is a part, that: 1) Montserrat does already have a Public Registry of legal entities and 2) had already begun the further legislative process to make beneficial ownership of companies registered in Montserrat, public.

Statement: Premier Donaldson Romeo of Montserrat on the UK’s Public Registers Legislation

Statement: Premier Donaldson Romeo of Montserrat on the UK’s Public Registers Legislation Following the decision by Britain’s House of Commons, to pass the amendments to the Sanctions and Anti-Money Laundering Bill 2017-2019, which now mandates Montserrat and other British Overseas Territories to introduce public registers of beneficial ownership of companies by 2020, I think it is necessary to state, up front, my concern that this may very well set in motion a worrying precedent for future legislative changes in Montserrat and other British Overseas Territories. Despite recent pronouncements by the UK of a renewed partnership with the Overseas Territories, this action was certainly to the contrary as it shows a lack of trust and disregard for the Montserrat Constitution. Especially since the UK Crown Dependencies Guernsey, Jersey and the Isle of Man (which are significant offshore financial services centres) are exempted from the requirement. This has already led to concerns about doublestandards. I must make it very clear, that even without the UK’s legislative intervention, Montserrat has been governing its financial affairs in accordance with international standards and we will continue to do so. In simple terms, we did not need legislation from the UK to mandate us to comply with international standards for our financial affairs, as we have been adapting and complying to these standards for a number of years. In response to the call by the global community, in 2013 Montserrat published its Action Plan to implement Financial Action Task Force (FATF) Recommendations to prevent the misuse of companies and legal entities. The Government of Montserrat, in honouring our commitment, has confirmed to the international community that it already has a public registry of legal entities and has taken steps to ensure that legislative provisions are introduced to obtain the beneficial owners of all registered companies. The requirement for companies to provide beneficial ownership information is already provided for in our Companies Bill 2018, which had its first reading in the Montserrat Legislative Assembly in January 2018, with the second and third readings to follow. With this Bill enacted, Montserrat will be fully compliant with FATF Recommendations 23 and 24.

So, even without this legislation, the Government of Montserrat has been working to ensure that we operate in a sound and transparent manner. Additionally, the commitments Montserrat made exceed current Financial Action Task Force standards for combating money laundering and countering the funding of terrorists and terrorist organisations. These bilateral arrangements put us ahead of most jurisdictions, including many of the G20 countries and some states in the United States of America. Moreover, Montserrat is also compliant with the international standard which is set out in the Organisation for Economic Cooperation and Development (OECD) Global Forum’s Terms of Reference for the implementation of the standard of transparency and exchange of information for tax purposes. To this end, Montserrat is an Early Adoptor of the Automatic Exchange of Information of the Common Reporting Standard and has entered into Tax Information Exchange Agreements (TIEAs) with 11 countries and Double Taxation Agreements (DTAs) with two (2) countries. Consequently, there would be no need for the U.K. to apply Orders in Council to mandate that Montserrat establish a Public register of beneficial owners of legal entities. I wish to strongly affirm that Montserrat’s implementation of the international standards for combatting money laundering and countering terrorism financing gives Montserrat a level of transparency and openness, which puts us in an ideal position to attract investors to our Financial Services sector. So rather than seeking to legislate for the Overseas Territories and risk damaging the longstanding constitutional arrangements with respect to our autonomy, especially since Montserrat is already compliant with international standards, the UK should choose instead to continue to partner with Montserrat and the OTs, in the spirit of our bilateral arrangements and legislative efforts as they relate to openness and transparency in our Financial Services sector. It is important to note that the imposition of this legislation was not supported by many UK Members of Parliament, who spoke very passionately against the bill. For example, the Hon Lord Ahmad (who is the FCO Minister for the British Overseas Territories) led the House of Lords debate in defeating the imposition of the very same Bill on BoTs. However, once there was sufficient support for the bill among backbenchers in the House of Commons, the UK Governing Majority – facing defeat – withdrew from opposing the Bill. Clearly, I have shown that Montserrat, even without the UK’s legislative intervention, has been governing its financial affairs in accordance with international standards and we will continue to do so. As such, we are demonstrably capable of enacting our own legislation in accordance with our constitutional and democratic right, to make laws for the peace, order and good governance of Montserrat. Thank You. ¤ OECSBusinessFocus Jun / Aug

OECS COMMISSION

Mobilizing Against Plastic Pollution In Saint Lucia

Mobilizing against plastic pollution in saint lucia Over 100 volunteers gathered in the community of Anse-la-Raye, Saint-Lucia, on April 20 to participate in a major cleanup activity. The initiative was held in observance of World Earth Day celebrated on April 22 under the theme “a World Without Plastic”. The cleaning activity was organised by the Anse-la-Raye Disaster Committee in collaboration with the OECS Environmental Sustainability Cluster, the New Zealand High Commission, the European Union, the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) and the Saint Lucia Solid Waste Management Authority. Students from five different schools participated in the initiative. Young volunteers marched in the street of Ansela-Raye to encourage residents to join the cleanup campaign and to raise awareness about plastic pollution. Following the march, participants formed several groups spread over different sectors to collect litter from the streets and the drains of the community. Josette Edward-Charlemagne, Programme Officer in the OECS Environment OECSBusinessFocus

Jun/Aug

Sustainability Cluster, who coordinated the initiative with other stakeholders, explained that Anse-la-Raye is very strategic as to raising public awareness on environmental issues and noted that the community, which is traversed by two rivers, is heavily impacted by plastic pollution and a growing number of illegal dump sites.

response matters.

We are currently undertaking two projects involving the two rivers in Anse-la-Raye. The first is a mangrove restoration project, funded by CCRIF SPC while the second involves stabilisation of the river bank, funded by the Government of New Zealand. While implementing the mangrove project, we observed the level of pollution in the area which is why we chose to support the cleanup initiative in that particular community.

According to the United Nations 8 million tonnes of plastic waste end up polluting the oceans each year. If no urgent action is taken, the oceans could contain more plastic than fish by 2050. ¤

addressing

environmental

Plastic waste is a critical problem which poses many problems and contributes to flooding in our small communities. We are working with our Member States to ensure that measures are put in place towards its elimination.

Mrs. Edward-Charlemagne also underlined the close collaboration between the OECS Commission and the Member States with respect to a collective www.oecsbusinessfocus.com

Eastern Caribbean Regional Climate Change Implementation Plan launched continue to realise the regional plan. Ultimately, the Plan itself is expected to assist the region to:

Get Creative with Climate Change & Sustainable Land Management Eastern Caribbean Regional Climate Change Implementation Plan launched

Tuesday 8th May saw the launch of the Eastern Caribbean Regional Climate Change Implementation Plan. The Plan is the final output of the Eastern Caribbean Regional Climate Change Implementation Project which was funded by the UK Foreign & Commonwealth Office and executed by Carbon Trust Advisory Ltd. and Climate Analytics in partnership with the OECS Commission. The aim of the project was to provide strategic support to the OECS to help develop, prepare to implement, and finance an Eastern Caribbean Climate Change Implementation Plan. This initial project was seen as the first building block in the path to developing such a plan, and was to recommend follow-on steps to

I. Deliver large scale emission reductions; II. Accelerate green growth in the region; III. Deliver development co-benefits; and IV. Improve resilience to climate change impacts.

The project was largely based on, and drew from, the Nationally Determined Contributions (NDCs) submitted by OECS Member States Party to the United Nations Framework Convention on Climate Change (UNFCCC) in fulfillment of the historic Paris Agreement. It had its origins in the concept of a “Regionally Determined Contribution” which would serve to promote collective action in support of NDC implementation. The resulting Plan focuses on the Water and Transport sectors. It is intended to be aspirational and not legally binding, in the first instance. This would allow the non-independent Member States of the OECS, that are not separately Party to the UNFCCC, to be fully involved in its implementation. The Eastern Caribbean Regional Climate Change Implementation Plan was launched at a short ceremony hosted by His Excellency, Steve McCready, Resident British Commissioner to Saint Lucia. Remarks were also delivered by Dr. Didacus Jules, OECS DirectorGeneral and Honourable Allen Chastanet, Prime Minister of Saint Lucia. ¤

Get Creative with Climate Change & Sustainable Land Management The OECS/GCCA ILAND Resilience Project is launching a major Climate Change and Sustainable Land Management awareness initiative in the form of whiteboard animations. Climate Change is one of the most topical issues globally and it is a major concern for Small Island Developing States like the OECS Region. The 2017 Hurricane season was, unfortunately, a wakeup call for the region and because of this the need to educate the general population is of utmost importance. The ILAND Resilience Project states that the video animations creatively break down and explain the technical and sometimes difficult to understand the terminology of Climate Change and Sustainable Land Management. Officials attached to the project say that the whiteboard animations aim to reach a wide spectrum of the population, in particular, the young and active audience. “ A part of the GCCA project is a public awareness campaign; it is important to the OECS and also our donors the EU. Often times we take for granted what climate change is; we often think that it’s only when there is flooding and events of that nature. But there are a lot of other variables to Climate Change and we wanted to show the different areas the project is seeking to highlight when we talk about Climate Change and Sustainable

Land Management,” explains Procurement Officer of the OECS/ GCCA iLAND Resilience Project- Tanya Wright. A key component of the OECS/GCCA iLAND Resilience Project is education and changing the way we think about the environment. The whiteboard animation zooms in on issues of food security, water security, and national land instruments like building codes. “Critical for us is making the themes very simple. Even though the aim is for public awareness and visibility, at the same time a key factor is seeing if there has been any change in habits and attitudes towards Climate Change and Sustainable Land Management, and whether or not we truly understand what it is. So we figured whiteboard animations would be a very unique and simple way of breaking down the technical areas so people could understand what we mean when we talk about water harvesting, legislative policy , frameworks and what exactly these are doing to affect change in their communities, lives and for future generations.” continued Wright. The Climate Change and Sustainable Land Management whiteboard animations are being aired on media outlets across the region. They can also we be viewed at www.ilandresilience. org. ¤ OECSBusinessFocus Jun / Aug

OECS COMMISSION

AnguillaN Civil Servants Facilitating access to Receive Training to initiate health services for National Energy Efficiency persons with disabilities in Strategy Saint Lucia AnguillaN Civil Servants Receive Training to initiate National Energy Efficiency Strategy

Programme Officer Judith Ephraim introducing the workshop agenda to the participants Member States of the OECS are pursuing efforts towards energy efficiency which is a major driver of economic development in the region. Hence, civil servants participated in a two and a half day training held in Anguilla under the theme “Zero Investment & Revenue Generating Energy Management Program”. Participants to the workshop included policemen, teachers, firefighters, and government officers. The group has been trained to frame a collective strategy aiming at achieving building energy consumption management in their workplace but also at the national level through a government driven plan of action. The training was organised by Programme Coordinator Judith Ephraim and Programme Officer Martin Rufenach of the OECS Sustainable Energy Unit. Both shared their experience regarding the energy efficiency strategy implemented at the OECS Headquarters in St. Lucia since 2014. We have put in place an energy management programme at the OECS Commission in Saint-Lucia two years ago that includes incentives for employees which resulted in a 20% decrease in our electricity consumption. Mrs. Judith Ephraim affirmed. Through this successful programme, both environmental specialists attested that energy savings are achievable by the implementation of zero cost measures combined with a sensitisation campaign to foster engagement of employees. The programme has also been promoted in Antigua and Montserrat. ¤

Facilitating access to health services for persons with disabilities in Saint Lucia

The OECS and the National Council of and for Persons with Disabilities (NCPD), with support from the UNDP, recently concluded a training session on the production of basic prosthetic limbs. The training provided capacity building for income generation among the participants, while also enhancing quality of life of Persons with disabilities through the provision of prosthetic limbs. Trainees will be earning a living by making limbs for sale. Prosthetic limbs are vital to many citizens including persons who have been confronted with an unavoidable amputation. However, patients are often required to seek health assistance overseas which represented a major financial obstacle. The two-week workshop was funded by the United Nations Development Programme (UNDP) in collaboration with the OECS Commission and hosted at the NCPD Rehabilitation and Repairs Center in Vieux Fort under the coordination of NCPD’s prosthetic technician Mr. Andrew Collymore. The medical specialist completed a certification in Prosthetic Limb and Caliper Fabrication at the MUKTI Artificial Limb Center in India. Dr. Grace-Ann Cornwall, Head of the Social Development Unit and Ms. Sharon Jacob, Administrative Assistant represented the OECS Commission at the event organised for the closure of the training session. The workshop enabled 7 participants to manage the production process of basic prosthetic limbs and learn technical and professional terminologies related to that particular medical area. Participants were grateful for the training which now provides them with an opportunity for self-employment as they are now able to respond to a critical need within the local market. All participants were awarded with certificates attesting the successful completion of the programme. ¤

OECSBusinessFocus

Jun/Aug

www.oecsbusinessfocus.com

Regional Debt Coordinating Sensitizing highCommittee Takes Steps to risk community on Improve Transparency Tuberculosis and HIV on Regional Government Securities Market (RGSM)

Sensitizing high-risk community on Tuberculosis and HIV

Regional Debt Coordinating Committee Takes Steps to Improve Transparency on Regional Government Securities Market (RGSM)

Within the framework of the World Tuberculosis Day celebrated on March 24, the coordination team of the Tuberculosis / HIV Elimination Project conducted a one day sensitization campaign targeting the community of Anse-La-Raye in Saint-Lucia.

The Regional Debt Coordinating Committee (RDCC) has advanced its efforts to increase transparency and improve relationship among the stakeholders of the Regional Government Securities Market (RGSM).

Over 50 inhabitants of Anse-La-Raye have been sensitized to the Tuberculosis and HIV Elimination Project starting with presentations to the nursing service of the community along with testimonials from patients affected by Tuberculosis.

The RDCC, which comprises the financial secretaries of the eight ECCU countries and the Governor of the ECCB, has direct oversight of the RGSM. The RGSM is a regional market for the issuance of debt instruments of the member states of the ECCU. Currently, five ECCU governments issue Treasury-bills and bonds with varying maturities on the market.

“This is a direct investment of health education and promotion in at risk communities as part of the corporate social responsibility of the OECS Commission. The public was very receptive and appreciated our initiative, especially men who are more at risk than women.” Dr. Cleophas d’Auvergne, Project Coordinator of the HIV/TB Elimination Project stated. The coordination team of the Tuberculosis / HIV Elimination Project concluded the community visit by implementing a questions and answers session to enhance public awareness and deepen the understanding of participants about both diseases. This targeted initiative forms part of a regional campaign undertaken in partnership with the Pan American Health Organization and the Global Fund. The US $5 million Tuberculosis and HIV Elimination Project which aims at preventing and controlling the diseases in the Eastern Caribbean operates in six participating OECS Member States: Saint-Vincent and the Grenadines, Saint-Lucia, Antigua, Dominica, St. Kitts and Nevis and Grenada. ¤

At its meeting held on 13 April, the RDCC approved a work programme for 2018/2019, which focuses on the development of an Investor Relations Programme (IRP) for the participating governments on the RGSM. The programme will facilitate dialogue between the governments, licensed brokers and investors on a continuous basis. The objective of the IRP is to expand the number of persons participating in the RGSM thereby enhancing the efficiency of the operations of the markets for government securities. The RDCC, with the support of the ECCB, also committed to the development of an ECCU public debt webpage, which will provide timely pertinent information to market participants. The webpage is scheduled to be launched by December and is aimed at tracking member governments fiscal and debt sustainability and sharing information with the public under its strategic plan. Dr Aidan Harrigan, Permanent Secretary in the Ministry of Finance of Anguilla, is the current chair of the RDCC. ¤

OECSBusinessFocus Jun / Aug

Governance Guru BUSINESS FOCUS

A Wish List for Caribbean Directors

The CEO & Board Chair Relationship: Colleagues or Combatants?

The CEO & Board Chair Relationship:

Colleagues or Combatants? Dr. Chris Bart, FCPA, FCIoD – Chairman, Caribbean Governance Training Institute RELATIONSHIP: “The way in which two or more people regard and behave toward each other.” Source: Mirriam-Webster Of all the interpersonal relationships that exist within a modern organization, one of the most important – and complex – is the one between the independent non-executive Chairman of the Board of Directors (“Board Chair”) and the Chief Executive Officer (“CEO”). The quality of this relationship can make or break the success of an enterprise. Technically and legally speaking, the relationship is a classic “master-servant” one. The Board of Directors hires the CEO thereby making him/her an employee of the enterprise (“the servant”). And the Board Chair is seen as the primary contact and overseer or supervisor of the CEO on behalf of the board. The “master” role. Ahh, but only if it were this simple. And thank goodness it’s not. That’s because both the Board Chair and the CEO have unique and distinctive roles to play. Yes, the master-servant relationship is always there. But the Board Chair and the CEO also need to see that their relationship is much more than that. They are each the “lead” players for the two teams that co-exist in their organization: the Board and Management. It is this second role which complicates the first. The Board and Management are jointly responsible for the success of their organization which, in this context, means both the protection of the organization’s assets and the quality of the OECSBusinessFocus

Jun/Aug

Dr. Chris Bart, FCPA, F.CIoD is a recognized global governance authority and Co-Founder of the Caribbean Governance Training Institute. The Institute is the first to offer throughout the Caribbean an intensive 3 day governance program leading to the prestigious and internationally recognized Chartered Director (C.Dir.) designation. For more information visit CGTI’s website: http://www.caribbeangovernancetraininginstitute.com/ or phone Lisa at 758 451 2500 major decisions that lead to that success. Accordingly, it is the relationship between the Board Chair and the CEO where these two “shared responsibilities” flourish or collide. When everything goes right, and the Board Chair-CEO relationship is a good one, the enterprise benefits immensely. Why? Because two heads are better than one especially when it comes to making high quality decisions. However, if the relationship is a poor one, the organization will inevitably suffer. What can go wrong? Because of the built-in tension and fragility of the Board Chair and CEO relationship, it’s important to understand and recognize the www.oecsbusinessfocus.com

major impediments and causes that can lead to a breakdown in their interactions. Topping the list is having a Board Chair and/or CEO who does not understand the distinctive governance roles that each is expected to play vis a vis one another. In fact, ‘not knowing what to do’ is the number one cause (among four others) of relationship failures world wide. There are several tell tale signs to indicate that this ‘not-knowing’ is happening. One is a passive and weak Board Chair who acquiesces to all of the CEO’s recommendations and demands and who prefers status and popularity over results and accountability. The other is a dominant and/or bully Board Chair who routinely oversteps the management role of the CEO and who requires the CEO’s complete servitude. In either instance, the ‘information loss’ to the organization can be catastrophic with the each leader being deprived of the wise counsel of the other, thereby causing mis-informed decisions to be made. Another major contributor to failure in the Board Chair-CEO relationship is having a ‘governance literate’ Board Chair but one who lacks the skills and experience necessary to carryout his job responsibilities with finesse and aplomb. The job of Board Chair is exceptional in that the Chair is still just an ordinary director with special authority delegated to him/her from the Board. It can be taken away at any time. To do the job well then, a good Board Chair must have the requisite leadership experience and qualifications to skillfully manage the complex relationships that inevitably exist among the board members and between the Board and the CEO. A ‘must have list’ of personal traits would include: industry knowledge, strong communication skills, empathy, humility and the time necessary to prepare for and run the meetings. When these skills are lacking, it’s a telltale sign that there is a problem within the board in terms of recruiting and selecting its most senior leader. Getting the relationship right! After decades of governance consulting, I have found that two components are absolutely essential for the CEO and Chair to succeed in their respective relationship roles. First and foremost, the Board Chair and CEO must value, comprehend and appreciate each other’s jobs. Second, they must formally agree to act cooperatively, both privately and publicly, with one another.

including notes of their private meetings. The Chair should also keep notes of any in camera board discussions and reveal their contents, without attribution, to the CEO immediately after such meetings have terminated. Each should also graciously and publicly acknowledge the contributions of the other. 3. Accept that there is no such thing as perfect communication. No message is so simple that it cannot be misunderstood. So constantly ask for interpretations and explanations of what each other is saying. Above all, avoid saying: do you understand? Why? Because the one listening will usually say they do…or at least as they understand the meaning of the message in their own mind, but perhaps not as in the mind of the sender. For the really big issues, I prefer the phrase: Do you see what I mean? And when the listener responds in the affirmative, the message sender should immediately reply: So tell me what you see. Tell me how you understand what I meant in terms of what I have just told you. 4. Focus on the outcomes of the relationship. The Board Chair and CEO should seek performance feedback regularly (at least quarterly) from each other. Be blunt and don’t be afraid to say: Did I screw up? Or, how should I have done it differently? If things start to go bad, seek help immediately either from the Governance Committee or an outside executive coach/ facilitator. Do not allow anger or hurt feelings to fester and escalate. The relationship will only get worse. The way forward In conclusion, the way to build better boards is by having better informed Board Chairs and CEOs interacting in a cooperative and constructive manner. In this regard, creating an effective relationship between the Chair and the CEO requires that both their respective roles be clearly defined and that the rules of their engagement be unequivocally agreed upon. While getting the right governance structure in place to support these two vital roles is critical, in the end, it’s interpersonal behaviours which inevitably determine whether the organization is successful or not.

So here’s the big, uncomfortable question for Caribbean directors, Board Chairs and CEOs: how would you rate the quality of the relationship between your organization’s Board Chair and CEO? If you think that there is room for improvement in the way these two For these two conditions to occur, I have developed four simple important organizational leaders address their roles, you might ‘rules of engagement’ which both the CEO and Board Chair must want to suggest that they consider going to one of the corporate governance training programs currently available in the region – follow. like the extraordinarily unique 3 day Chartered Director Program 1. Have written job descriptions which clearly specify each (“C. Dir.”) currently being offered exclusively by The Caribbean others’ roles and which are mutually agreed upon. Unless Governance Training Institute. there are special or mitigating circumstances, the job descriptions should emphasize the Chair’s ‘strategic role’ Over 500 Caribbean directors have attended this program to versus the CEO’s ‘operational role’ as well as any specific areas date (including all the Governors of the ECCB and the entire of overlap. Doing so should aid tremendously in avoiding any Government of Saint Lucia!) interpersonal conflicts. Also, while these two documents should be Board approved, it is important to remember that By attending programs like this one, your organization’s they are not cast in stone and should be revisited annually to stakeholders would then know that their interests are being represented not just by individuals with successful track records in see if any changes are required. business, but also by men and women who have the governance 2. Communicate, communicate, communicate. Both individuals qualifications - and the certification - necessary for effective need to be completely transparent with each other with no board leadership and oversight of their organization’s strategic surprises or secrets. The CEO must accept that the Chair will activities. After all, it’s not education which is expensive, but tell the Board everything he or she discloses to the Chair, rather ignorance. ¤ OECSBusinessFocus Jun / Aug

EU Unveils 12 Million Euro Security Programme for the Caribbean

MONEY MATTERS

EU Unveils 12 Million Euro Security Programme for the Caribbean

The multi-million dollar Caribbean Forum (CARIFORUM) Crime and Security Programme was launched recently in Barbados, amidst concerns that Caribbean countries with relatively small populations are facing security challenges and the need for the region to adopt a multi-disciplined, multi-national approach to crime and security. Head of the European Union Delegation to Barbados, the Eastern Caribbean States, and CARICOM/CARIFORUM, Daniela Tramacere, said as a result, regional integration and collective security mechanism have really become imperatives. “Given the scarcity of resources required to address such a multiplicity of security issues, we the European Union, we share this philosophy in favour of regionalisation, we see actually regionalism as a stepping stone to a more effective way to global multilateralism. “We believe in the value of contributing our best resources and capabilities to alliances and partnerships and to enable others with fewer resources to assume responsibilities in their own region,”: she said, noting both regions share a commitment to global peace, progress, prosperity as well as to democracy, human rights and the rule of law. “The impact of crime on citizen security is of great concern to us as well and it is undermining substantially the sustainable development of the region,” Tramacere said, as she gave a rationale behind the EURO 12 million (One Euro =US$1.29) initiative being funded under the European Development Fund (EDF). She said the collateral damage of the drug trade is “huge and obviously takes an important toll on society, fuels corruption, undermines the rule of law and leads to more organised crime. “It is a truism that crime has a negative impact on legitimate business and investment and this is unfortunately all too true in the Caribbean where estimates suggest that reducing the homicide rate by one third only from its current level could more than double the region’s rate of per capita income and economic growth.” But she warned against ‘quick fixes” in dealing with the crime and security situation and urged the development of strong professional institutions that approach security challenges from an objective space, multi-dimensional and multi-stakeholder perspective. “This is why we prefer alternatives to traditional incarceration for non-violent drug offenders and put emphasis on a common sense approach to protecting public safety. So our strategy against drugs will only bear fruit unless it follows a balanced approach in which drug demand and supply are enforcing each other and we believe programmes like, for example, the drug treatment courts, should be a significant part of a security strategy that promotes better outcomes…. “The use of alternative sentencing …can help to address the issues of prison overcrowding as well as reduce the economic and social costs associated with incarceration. Most importantly, they can unite families, help communities feel safer and more secure and OECSBusinessFocus

Jun/Aug

make lives whole again. “We must break the vicious circle of arrest, trials and release (and) when people get out of prison, only to land back in court for repeated offences. We know that this path is not easy, it requires hard work,” she said.

Daniela Tramacere Head of the European Union Delegation to Barbados, the Eastern Caribbean States, and CARICOM/CARIFORUM

In his address to the launch, CARICOM Secretary General Irwin LaRocque said the initiative is an “important and timely programme” and was yet another manifestation of the relationship between Europe and the Caribbean to attain sustainable development. He described the crime situation as an issue that requires all member states to be involved in a regional programme and strategy to deal with and made reference to the efforts by CARICOM leaders to put in place various strategies so as to curb criminal activities in the region. LaRocque made reference to initiatives such as the CARICOM Arrest Warrant Treaty and plans for a counter-terrorism strategy, as he noted that regional countries were being “ravaged by this scourge” of crime, including drug trafficking. “This has led to a steady increase in the availability of illegal firearms. The reality is that neither the most trafficked illicit drug, cocaine, nor the firearms, is produced in our countries. Our region is a transitpoint for both. However, significant amounts of both remain on our shores, fueling extreme violence, institutionalized criminal behaviour and increased gang violence. “This threatens the security of citizens and visitors and has an impact on the safety of community life, as gun and gang violence become rife and create dysfunction in families through drug addiction and alcoholism. The greatest impact is on our human resources which we need to continue to build resilient, strong societies.” LaRocque said the programme being launched Wednesday focuses on reducing the demand for and dependence on illicit drugs on the one hand, and on crime prevention on the other. The project presents a diverse mix of interventions to buttress the challenges we are facing,” he said, noting, however, that whatever projects and programmes are put forward, the core of this battle must be fought in the home. “Families have a vital role to play in turning the tide of this struggle. The tried and tested values of love, hard work, honesty, character building, belief in self and self-respect are key weapons. The first intervention must be in the home.” “Our Region cannot afford complacency in the face of ever evolving threats to our safety and security. Beyond the toll taken on people and society, crime and violence have become very costly to the Region’s economy, and have an adverse impact on foreign investment and tourism. “More than ever, we need to remain united in our efforts to fight crime in all its dimensions. The onus is on us to provide a secure Community for all our people,” LaRocque added. (CMC) ¤ www.oecsbusinessfocus.com

Barbados Tourism Authority

OECSBusinessFocus Jun / Aug

MONEY MATTERS

Sagicor Group Reports Increases in Sagicor Group Reports Increases in Revenue, Income and Equity for 2017 Revenue, Income and Equity for 2017 Against a backdrop of contrasting regional and international economic conditions, the Sagicor Group achieved improvements in revenue, net income and equity for the 2017 financial year. In a report on the results which has been posted to the Trinidad &Tobago Stock Exchange, Chairman Stephen McNamara told shareholders: “Regionally, the Caribbean experienced modest economic growth, but continued to engage in fiscal consolidation through various measures of tax increases and public expenditure cuts to reduce high levels of public debt. Internationally, the USA experienced growth, increases in interest rates and a significant, but favourable change in its tax regime for business.” He said the Group’s net income increased by US$6 million from US$109.3 million in 2016, while Group equity was US$932.3 million, compared to US$795.4 million in the prior year, an increase of US$136.9 million. Net income attributable to shareholders was US$72.2 million, compared to US$61.7 million in the prior year, an increase of US $10.5 million. Earnings per common share was US 23.7¢—an annualised return on common shareholders’ equity of 13.3 per cent compared to 12.6 per cent for the prior year. Total revenue increased to US$1,220.9 million, compared to US $1,134.1 million the previous year, an increase of US$86.8 million or 7.7 per cent. Net premium revenue reached US$745.6 million,

compared to US$664 million, an improvement of US$81.6 million or 12.3 per cent. Premium income increased in all segments and benefited from the issuance of a single premium annuity relating to the Group’s Jamaica segment. McNamara said: “Exchange gains/(losses) also showed a loss of US$4.2 million, compared to gains of US$12.6 million in the prior year, a reduction of US$16.8 million. Foreign exchange movements were affected by a strengthening of the Jamaica dollar when compared to the United States dollar in 2016, resulting in foreign exchange declines in financial assets denominated in United States dollars in our Jamaica segment. “Overall, the company experienced a gain on translation of the Jamaica segment, which is reported in other comprehensive income. In addition, the prior year included exchange gains relating to declines in the Trinidad dollar, when compared to the United States dollar, there was no significant foreign exchange movement, relative to this currency in 2017.” As at December 31, 2017, Sagicor’s assets amounted to US $6.8 billion, up from US$6.5 billion in 2016 and liabilities closed at US$5.9 billion, compared to US$5.7 billion for the previous year. Sagicor is listed on the Barbados and Trinidad Stock Exchanges and the London Exchange. ¤

Republic Bank Ltd’s $1b Debt Ratings Reaffirmed by CariCRIS Republic Bank Ltd’s $1b Debt Ratings Reaffirmed by CariCRIS

of its gross loans, making RFHL’s performance highly linked to and influenced by that of RBL. The outlook for the ratings was revised from negative to stable based on expectations that over the next 12-15 months, RBL will continue to maintain its strong market position, good capitalization, healthy liquidity and remain profitable, despite the challenging economic conditions in Trinidad & Tobago. CariCRIS said in its report: “RBL’s ratings reflect the bank’s leading market share in the Trinidad and Tobago commercial banking industry as well as its good financial performance evidenced by profitability and asset growth.

Regional ratings agency Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the assigned ratings to the $1.0 billion debt issue of Republic Bank Limited (RBL) of CariAA+ on the regional rating scale and AA+ on the national scale. This means the level of creditworthiness of this debt obligation is high. In its assessment, CariCRIS noted that RBL accounts for approximately 64 per cent of its parent, Republic Financial Holdings Limited’s (RFHL), net interest income and 69.4 per cent OECSBusinessFocus

Jun/Aug

“The ratings also reflect the bank’s strong liquidity supported by a stable and diversified resource base as well as good capitalization reflected in high capital adequacy ratios. RBL’s good asset quality with a NPL ratio well below that of the local industry also supports the ratings. “These rating strengths are tempered by the persistent foreign exchange shortage and prevailing economic challenges that could drive a slowdown in loan origination and could lead to some deterioration in asset quality.” ¤ www.oecsbusinessfocus.com

A global vision and a local focus are not mutually exclusive. KPMG

Taking on today’s business complexities requires deep expertise, in your own back yard and around the world.

Antigua and Barbuda Lisa Brathwaite T: +1 268 725 6986 E: lmbrathwaite@kpmg.ag Saint Lucia Louisa Lewis-Ward T: +1 758 5764 E. louisaward@kpmg.lc St. Vincent and the Grenadines Brian Glasgow T: +1 784 451 1300 E: baglasgow@kpmg.vc

Anticipate tomorrow. Deliver today.

© 2018 KPMG, a Barbados and Eastern Caribbean partnership, registered in Barbados, Antigua and Barbuda, Saint Lucia and St. Vincent and the Grenadines, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity.

MONEY MATTERS

Caricom Concerned Over Money Laundering Law Caricom Concerned Over Money Laundering Law

The 15-member Caribbean Community (Caricom) grouping said it is “deeply concerned” about the potential impact on the economies of some of its associate members as Britain lawmakers get ready to debate new anti-money laundering legislation. “The Caribbean Community (CARICOM) recognises that global security and financial crime are increasingly intertwined and, therefore, supports the work of the FATF (Financial Action Task Force) and its regional bodies in developing international AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) standards to combat money laundering and terrorist financing,” the Guyana-based CARICOM Secretariat said in a statement. The UK Parliament on May 1 began debating the Sanctions and Anti-Money Laundering Bill which will have an effect on the financial services of the overseas countries and territories,

including Caricom member states such as Anguilla, Bermuda, British Virgin Islands, Cayman Islands and Turks & Caicos Islands. Caricom said its members, as well as associate members, had expended considerable resources towards achieving compliance with AML/CFT standards. “Countries in the region have also supported global initiatives led by the OECD Global Forum and have entered the necessary international agreements to facilitate the sharing of information on beneficial ownership. “Caricom Associate Members are an integral part of the Caribbean Community family whose circumstances, self-governance and democratic rights should not be disregarded. In that context, we are deeply concerned about the potential impact on their economies by any impositions that would go against the spirit of democracy and diminish their standard of living. “A number of our Associate Members have for some time run successful financial centres that meet the high standards of regulation set by international standard-setting bodies such as the Financial Action Task Force (FATF) and OECD Global Forum,” the statement noted. It said that as opposed to unilateral measures, Caricom believes it is desirable for members of the FATF and OECD Global Forum to work together to establish new international regulatory standards in areas such as beneficial ownership and tax information exchange. ¤

ANSA MCAL Declares $648m After Tax Profit for 2017 Automotive, Trading and Distribution were the highest revenue earners for the Ansa McAL Group which recorded an after tax profitMCAL of $648 million for the period ended December 2017. ANSA Declares $648m

After Tax Profit for 2017 The Group’s total assets increased to $14.3 billion from $13.9 billion for the previous year and it achieved $2 billion in cash and cash equivalent compared to $1.7 billion in 2016.

The highest revenue earning sectors reported $2.5 million for the period, while Manufacturing, Packaging and Brewing, the second highest, ended the year at $2.4 million. At a stockbrokers’ meeting at Kam Wah Conference Room on Maraval Road, Port-of-Spain, Trinidad, where the results were announced, Group Chairman Norman Sabga said there were strong operational results across the region despite sluggish economies in Trinidad &Tobago and Barbados. Among the highlights of the year was acquisition of the Berger Paints. Group, CEO Andrew Sabga said Ansa’s Paint portfolio expanded when it acquired 100 per cent of the issued share capital of Lewis Berger (Overseas) Holdings (LBOH) Limited, a privately-owned UK domiciled company. He explained: “The LBOH owns the controlling interest in the Caribbean businesses of Berger Paints Trinidad and Tobago, Jamaica and Barbados. The company announced its intention to issue takeover bids in accordance with the regulations in the OECSBusinessFocus

Jun/Aug

respective jurisdictions by August 23, 2017, as a consequence of its ownership of the shares of Berger Paints Trinidad Limited and Berger Paints Jamaica Limited.” Sabga said the one-off cost involved in the Berger acquisition was about $10 million and the deal was good for the Group and following on that success another acquisition is being considered. Although he did not give details, Sabga told shareholders: “All the acquisitions we are looking at are US Dollar denominated transactions. We are trying to build in areas of expertise US-dollar earnings. It is too early to give you specific details.” With regards to Tobago operations, he advised that this is being affected by the inter-island ferry seabridge, and said: “Like everyone else we are having some difficulties with getting goods to Tobago. The big problem is that demand has significantly curved because people are having difficulty getting to and from Tobago. A large portion of the consumption is tourists and nonTobagonian arrivals, so we are seeing a drop in demand in Tobago since the problem started.” Sabga said difficulties in accessing US currency continue and the Group is satisfying its creditors by juggling its payments and had not defaulted on any bills. “If there was an evalution of the dollar all fixed costs would go down against foreign exchange. Our local costs would be cheaper versus local currency,” he said. ¤ By Nadaleen Singh www.oecsbusinessfocus.com

OECSBusinessFocus Jun / Aug

MONEY MATTERS

CDB Records Strong Growth in 2017

CDB Records Strong Growth in 2017 The Barbados-based Caribbean Development Bank (CDB) recorded strong growth and exceeded targets in approvals and disbursements in 2017. According to CDB President Dr Warren Smith, these were highlights in the Bank’s 2017 annual report. “The Bank was able to respond quickly and meaningfully to the various setbacks and the challenges that Borrowing Member Countries (BMCs) faced during the year. With this level of support, the CDB was able to maintain its position as a leading source of long-term development financing and capacity-building in the Caribbean,” Smith said. In 2017, the Bank approved capital loans and technical assistance interventions totaling US$364 million, an increase of 18 per cent compared with 2016. Disbursements to its Borrowing Member Countries rose by 13 per cent to US$233 million during the year. The report also details CDB’s economic outlook and review for the Caribbean. The Bank reports that in 2017, on average, there was an overall uptick in economic growth of 0.5 per cent in BMCs, led by a rebound in oil prices, and supported by buoyant tourism and construction activities. “Fiscal balances remained weak in most cases; and public sector debt continued to be worryingly high in many BMCs,” according to the review. The Bank forecasts that the regional economy will grow by 1.8 per cent in 2018 due to anticipated improvements in global economic growth, with risks tilted to the downside. “Mitigating these risks will require improved resilience on many levels. Macroeconomic stability, increased competitiveness, improved human development, and environmental preparedness OECSBusinessFocus

Jun/Aug

are conditions that are necessary to improve resilience, and ensure sustainable and inclusive growth and development,” the report notes. In the newly released publication, CDB also reports on its project performance across several sectors including environmental sustainability in which the institution provided Emergency Relief Dr Warren Smith Grants totaling US$800,000 to CDB President Anguilla, Antigua and Barbuda, The Bahamas, and the British Virgin Islands (BVI) following the passage of hurricanes Irma and Maria last year. In renewable energy and energy efficiency the report said the Bank continued to promote its streetlight retrofitting programme, encouraging BMCs to undertake network-wide replacement and sustainable disposal of inefficient high-pressure sodium lamps with LED lamps. In 2017, loans were approved for streetlight retrofitting in Jamaica and Suriname; and the implementation of similar projects in Antigua and Barbuda, St Kitts and Nevis, and St Vincent and the Grenadines advanced. When these projects are fully implemented, savings of at least 50 per cent in streetlight energy consumption, system-wide, are expected. Concerning regional cooperation and integration, the Bank completed the implementation of 28 projects under the Caricom Single Market and Economy and the Economic Partnership Agreement Standby Facilities. Total disbursements in 2017 were US$1.4 million. ¤ www.oecsbusinessfocus.com

ROSSCON

CARILEC

UPCOMING EVENTS 2018

- Chief Executive Ofﬁcers & Leadership Conference 20-23 May

Barbados

- Engineering Conference 22-26 July

Hilton,Trinidad & Tobago

- CARILEC Renewable Energy & Smart Grid Conference 23-27 September

Hilton, Miami

POWERING THE CARIBBEAN’S GROWTH THROUGH:

• Advocacy • Promoting the Use of Renewable Energy • Training & Conferencing • Benchmarking for Continuous Improvement • Building Sustainable Stakeholder Partnerships • Empowering Communities through Energy Security • Utility Disaster Restoration

758.452.0140/1 www.carilec.org marketing@carilec.org Desir Avenue, Sans Souci Castries, Saint. Lucia, W.I. P.O. Box CP5907

/community.carilec.org

/carilecpower

/carilec

CARILEC Secretariat

Y EARS

OECSBusinessFocus Jun / Aug

BUSINESS FOCUS

Anguilla Programme Board Discusses Recovery Project Aid of 60 Million Pounds

Anguilla Programme Board Discusses Recovery Project Aid of 60 Million Pounds Six priority recovery projects which form part of a larger programme being financed from the 60 million pounds in humanitarian aid recently released for hurricane-hit Anguilla by the United Kingdom Government, were the subject of discussions on May 8. The discussions on those and other projects were held at a meeting of the Anguilla Programme Board (APB) in the Executive Council Chambers. The Board was set up by the Governments of the UK and Anguilla to oversee and coordinate the preparation, management and delivery of the 60 million pounds CSSF (Conflict, Stability and Security Fund) recovery programme following Hurricane Irma in September 2017. The six priority projects are the badly damaged Adrian T. Hazell and The Valley Primary Schools; repairs to the Princess Alexandra Hospital; the roofs of Government buildings and hurricane shelters; extension of the Government’s telecommunications tower at Crocus Hill; and repairs to Police Headquarters in The Valley and the Marine Police Station at Sandy Ground. Various other recovery projects form part of a larger list to be funded from the 60 million pounds in due course. Meeting with the APB were two visiting technicians from WYG, a company based in the UK and funded by the Administration Costs element for the Anguilla Programme. They are and will continue to provide the relevant technical assistance (quantity surveying and structural engineering) to the team at MICUH, led by Chief Engineer Bancroft Battick. The APB will have delegated authority from ExCo to oversee and coordinate all activities and matters of relevance to the disbursement of the UK Government CSSF recovery programme OECSBusinessFocus

Jun/Aug

from April 2018 to March 2021. Its focus will include, but may not be limited to, the following: • Oversight of all CSSF hurricane recovery programmes administration on behalf of the Governor and the Chief Minister; • Compilation of a comprehensive hurricane recovery programme project list for submission to the Executive Council (ExCo) and any subsequent amendments to projects and estimated costs; • Appointment and monitoring of Senior Responsible Owners (SROs) for each individual project; • Oversight of preparation of all contract and tender documentation with MICUH leading and coordinating all GOA procurement activity in consultation with the GOA Procurement Office; • Ensuring close observance of all Anguillian procurement and contract administration legislation by officials, stakeholders and contractors – note all procurement will be under Anguillian laws; • Oversight and final approval of all statutory agencies’ project works (business case, justification, procurement documents) funded by the CSSF hurricane recovery programme – note under the terms of the UKG/GoA MoU for every project precludes that procurement will be under Anguillian laws’; • Production and regular maintenance of a comprehensive Risk Register for all CSSF programmes related projects; and • Compilation of monthly updates and progress reports, quarterly reports for the CSSF Regional Board incorporating Impact, Risk and Finance for submission to the Governor, the Chief Minister and the Executive Council (ExCo) and CSSF Regional Board as necessary. ¤ www.oecsbusinessfocus.com

CDB Renews Programme of Support for IMF-Operated Technical Assistance Centre CDB Renews Programme of Support for IMF-Operated Technical Assistance Centre

The Caribbean Development Bank (CDB) on May 28 announced that it will renew support for a programme designed to help countries in the region strengthen their human and institutional capacity to design and implement policies that promote growth and reduce poverty. The Bank’s Board of Directors approved US$1 million toward the International Monetary Fund’s (IMF) Caribbean Regional Technical Assistance Centre (CARTAC) programme until 2022. CARTAC is one of ten regional technical assistance centres operated by IMF around the world. In the Caribbean, the centre has supported capacity-building in public financial management, tax and customs policy and administration. It has also contributed to improving the quality of statistics in the real and external sectors to strengthen policymaking. “Since 2002, CDB has provided strong support to CARTAC’s operations, acknowledging the pressing need to foster sustainable growth and reduce poverty across our borrowing member countries,” said Dr. Justin Ram, director of economics, CDB. “The Bank is pleased to renew its support for the programme’s fifth phase, and looks forward to a continued partnership with IMF and other CARTAC development partners, who share a common goal of addressing skills gaps to improve institutional quality in our region.”

CARTAC has provided assistance with the implementation of value-added tax as a reliable and efficient revenue source in eight regional countries. Also, the centre has supported the development of modern revenue administrations, including large taxpayers units; efforts to cross-match data to enhance tax compliance; and the implementation of the Automated System for Customs Data Acquisition, post-clearance audits, and trade facilitation. All of these initiatives contribute to improved fiscal resilience in the recipient countries. CARTAC’s objectives include the following: • Strengthening fiscal administration, with specific attention to tax administration and budget management, in order to promote greater public sector savings; • Improving the scope, quality and timeliness of economic and social statistics, in order to enhance capacity for analysis, policy formulation, and for investment planning and implementation; and • Helping to bring accounting, regulatory and supervisory regimes in line with international practices, in order to facilitate continuing integration into a competitive, globalised trading and financial environment. CARTAC is guided by a steering committee comprising representatives from financial contributors to the centre, namely its 22 member countries; and development partners, including CDB and the IMF. ¤

Anguilla to Get US$5.6 Million CDB Loan to Meet Debt Obligations

Anguilla to Get US$5.6 Million CDB Loan to Meet Debt Obligations Dr. Justin Ram, Director of Economics at CDB

The Board of Directors of the Caribbean Development Bank (CDB), has approved a US$5.6 million loan to assist the Government of Anguilla in meeting its fiscal obligations after the destruction caused by Hurricane Irma in 2017. The funds will allow the Government to focus on its recovery priorities, without having to divert resources to meet financing needs. “Hurricane Irma resulted in a major economic setback for the island of Anguilla. The Government is now facing a financing gap, having had to meet increased spending needs, while at the same time facing a loss of revenue from a missed tourism season. This loan will provide a needed liquidity buffer for post-Irma

rehabilitation during 2018, allowing focus to be placed on the critical social and economic needs of the country,” said Dr. Justin Ram, Director of Economics at CDB. The loan is repayable over a period of 13 years, inclusive of a grace period of three years. Hurricane Irma caused approximately US$507 million in damage on Anguilla, including to much of the island’s physical infrastructure, air and sea ports. In addition, the tourism industry—the main driver of growth in the country— suffered significant losses. These factors are expected to have a major negative impact on Anguilla’s revenues during 2018. Irma’s impact further deepened socio-economic challenges in Anguilla as the Government worked toward recovery from a near decade-long fallout of the financial crisis, which threatened the island’s economic security due to contractions in the two main economic sectors—tourism and financial services. In December 2017, CDB approved a loan of US$5 million to assist in the restoration of electricity on Anguilla, and in the immediate aftermath of Hurricane Irma, the Bank provided an Emergency Relief Grant of US$200,000 to the Government. Since 2000, CDB has provided US$4.3 million in support for three disaster management projects in Anguilla. ¤

OECSBusinessFocus Jun / Aug

NCB Bid for GHL Goes Sagicor Profits Up 44 Before TTSEC Per Cent

MONEY MATTERS

NCB Bid for GHL Sagicor Profits Goes Before TTSEC Up 44 Per Cent

A May 15 date was set for the T&T Securities & Exchange Commission (TTSEC) to begin hearing a claim that the bid by Jamaica’s NCB Financial Group to acquire Guardian Holding Limited (GHL) breaches this country’s security laws. The TTSEC launched its investigation of the takeover bid in February following a written complaint by GHL minority shareholder, Peter Permell, filed on behalf of other shareholders, about the offer of US$2.35 per share from NCB. NCB’s acquisition of GHL shares first started in 2016, when the company acquired 29.99% equity interest. On December 8, 2017, through its whollyowned subsidiary, NCB Global Holdings Limited launched an offer and take-over bid to shareholders of GHL to acquire up to 74,230,750 ordinary shares. Full acceptance of the offer would result in a cash payment by NCB of up to approximately US$174,442,262 to GHL shareholders who accept the offer. Officials of the Jamaican firm said then that the planned acquisition is aligned with its vision to create a panCaribbean diversified financial services conglomerate. However, Permell and other minority shareholders claim it is illegal for any entity making a take-over bid to enter into any collateral agreement or commitment with some owners of GHL shares at the greater value of US$3.24 than that offered to other minority shareholders. “At the hearing, a panel established by the TTSEC will review our acquisition of a significant interest in Guardian Holdings Limited and steps to acquire a further interest,” said NCB Financial’s legal counsel, Dave Garcia, in a recent newspaper interview, adding that representatives from the banking group “are also likely to attend”. ¤ OECSBusinessFocus

Jun/Aug

Sagicor Financial Corporation Limited posted an overall group net income of US$38.9 million for the quarter ending March 31, 2018, a 44 per cent increase over the same period last year. The solid Q1 performance was boosted by improved total revenue over 2017. Shareholders saw increases in net income from US$16.7 million in Q1, 2017 to US$19.9 million in Q1, 2018. Total revenue was US$296.6 million from US$282.5 million, an increase of five per cent over the same period last year. Net premium increased from US$167.7 million to US$187.3 million, an increase of 12 per cent. Comprehensive income was less than the same period last year, mainly caused by market-to-market losses on its international bond portfolio. Group total equity increased by 13 per cent, from US$827.5 million to US$931.7 million. Shareholders’ equity increased from US$553.5 million to US$622.9 million, an increase of 13 per cent. Equity increased in all key segments in the Sagicor Group, with Sagicor Jamaica recording the highest percentage increase of 14 per cent, followed by Sagicor Life Inc. with an eight per cent increase over Q1, 2017. Group book value per share moved from US$1.82 to US$2.03. Dodridge Miller, Group President and CEO of Sagicor Financial Corporation Limited, said: “The Caribbean economy remains challenging; however, I am confident that Sagicor will continue to grow through innovation, efficiency, and continuous improvement in client service. Our results are based on the support of our customers, and the commitment and dedication from our board, management and team.” ¤ www.oecsbusinessfocus.com

Bank of Montserrat Issues APO of Shares

Bank of Montserrat issues APO of Shares The Bank of Montserrat Ltd. on April 2, 2018 announced the launch of its prospectus of yet another Rights Issue and Additional Public Offer (APO) of shares to both existing and potentially new shareholders. The Bank stated that the previous Rights Issue and APO was held in 2013, for the dual purpose of augmenting the bank’s capital and diversifying the ownership of the bank. It invited existing shareholders to exercise their pre-emptive rights and for new shareholders to take advantage of the offer to purchase BML shares made available in the APO. The Bank then invited existing and prospective shareholders to sessions where they were encouraged to purchase new shares. Following the sessions, one of the questions raised stemmed from the Bank issuing shares at $6.50 to new shareholders: who will receive an immediate gain on their investment at the cost of existing shareholders. However, Warren Cassell Jr., accountancy major at the George Washington University, is concerned that the figure quoted as the Bank’s book value per share could be misleading to potential investors. “It appears as though the prospectus states an inaccurate figure for the Bank’s book value per share. According to the most recently audited financial statements, the book value per share as at September 30, 2017 was $6.82. This is what is being quoted as the book value per share in the prospectus dated April 2, 2018,” he noted. “My concern about quoting this figure stems from the fact that in October 2017, a material change to shareholders’ equity occurred,” Cassell Jr. continued. He further explained that: “In October, 697,854 new shares were issued to existing shareholders. This action would have diluted the book value on a per share basis. In other words, using the $6.82 figure would essentially be misleading potential investors to think that the shares they are being offered to buy are worth more than they actually are.” He said book value per share is an accounting term used to measure the intrinsic value of a single share of a company. It is calculated by dividing a company’s total net assets by its total shares outstanding. Cassell argues that the issuance of bonus shares in October of last year would have resulted in a larger denominator in that formula which in turn would have reduced the bank’s book value per share. Meanwhile, the Bank’s Assistant General Manager, Sharmaine Francois, stated that subscribers to the APO would realize an immediate capital gain on their investment given that the book value per share was $6.82 and the price to purchase was only $6.50. ¤

Caribbean Airlines Revenue Up 21%

Caribbean Airlines Revenue Up 21% State-owned Caribbean Airlines has achieved a 21% increase in revenue for the first quarter of the financial year from strong passenger demand and increased cargo business together with enhanced cost management. Unaudited results show that revenues and earnings are both ahead of budget—a considerable improvement over 2017—with 64% in earnings year-on-year. There was a 7% increase in demand on passenger revenue and the airline also benefitted from revenue management initiatives and tighter control on costs, even with a 14% increase in fuel prices. Garvin Medera, Chief Executive Officer, said: “It’s been an excellent start to the year. In what has traditionally been our toughest quarter, we’ve seen increases in revenue on some of our top routes and made great strides on the development and implementation of our strategic plan. “This includes the technology improvement plan, which is focused on providing an award-winning and more enriching customer experience. For instance, in this quarter we initiated Webchat and WhatsApp for Business to enable a personalized digital option for our customers to chat with a call centre agent.” Other highlights for the quarter include: • Cargo has showed significant year-on-year growth of 21% increase in revenue and 41% on earnings. • Passenger revenue rose 22% year-on-year which was partially attributable to an increase in demand of 7%. • Domestic air-bridge provided 265,382 seats and carried 233,098 passengers, ensuring that passengers were serviced as required with adequate capacity. The On Time Performance (OTP) also averaged 85% within 15 minutes on the air-bridge for this period. “This quarter’s results have taken us a step further in achieving our goal of profitability for the airline by the end of 2019. I’d like to express my appreciation to the staff at CAL. The numbers are the results of their dedication and hard work over the past few quarters to keeping us on track with our people-centred and customer-focused strategy,” Medera said. CAL introduced new products and services during the quarter such as: • Implementation of new routes to Havana and St. Vincent and the Grenadines to JFK, New York • Launch of Caribbean Plus, a new option offering additional comfort with extra seat space and boarding benefits on economy fares • Launch of Caribbean Explorer which gives travelers the ability to go to several islands at one affordable fare. ¤ OECSBusinessFocus Jun / Aug

CLEARER SKIES AHEAD,

Clearer Skies Ahead, The Future of interCaribbean Airways

The Future of interCaribbean Airways Mr. Lyndon Gardiner founder and Chairman of interCaribbean Airways, attributes his success to the virtues instilled in him by his mother and grandparents throughout his childhood and later on, as a young adult living with his older brother. For Mr. Gardiner, his company is a trendsetter, and a service-oriented company. His company and life’s work, which started as a single plane operation, 26 years ago has quickly advanced into a dynamic, regional enterprise now serving 22 cities in 13 Caribbean countries. The company’s plan is to serve 20 countries by 2020. Despite an endless stream of challenges, the company prides itself on practicing good governance and always adhering to the country specific requirements for all of their destinations. For entry into Jamaica back in 2010, the company faced opposition from a local airline and had to wait two years to overcome that opposition, it was granted full access and now operates both domestic and regional flights out of this strategic hub. Similarly, in the Dominican Republic, the company ensured it had all the requisite documents and worked tirelessly to initiate service to that island despite some earlier setbacks. For interCaribbean Airways, the path to future success in the Caribbean requires two major developments that will give the region more visibility and relevance for tourists while easing connectivity issues between the island nations, thereby promoting economic growth for its people. The first major development the company sees as necessary is for the Caribbean to move toward cooperatively marketing itself as a single destination with its island nations offering different experiences of the region. This, when coupled with the creation of a “Caribbean Common Aviation Area - CCAA”, modeled like the European Common Aviation Area would work well to encourage growth and development of sustainable private airline alternatives to the Government owned airlines in the Caribbean that have challenges, whilst recognizing the need for, essential air services between the Caribbean, and the role various government plays in ensuring these services to otherwise stranded communities, Mr. Gardiner reasons that these funds can be better spent on education, healthcare and public infrastructure to better the lives of the region’s peoples. Chairman Gardiner advocates that the creation of a single market in aviation services in the Caribbean will radically liberalises the air transport industry by allowing any company from any CCAA member state to fly between any CCAA member airports, thereby allowing these companies OECSBusinessFocus

Jun/Aug

to overcome the antiquated protectionism policies of yesteryear which only serves to frustrate airline access to markets, its ability to create economies of scale in the region and its growth in today’s world. Doing business in the region currently, is not without its obstacles. There is a great need for governments in the region to encourage and facilitate development of regional enterprises where laws and policies should be to encourage such developments. The ease of doing business varies across the islands and in order to see maximum stimulation of the economies and realize positive growth patterns, a greater sense of “Caribbean Unity” is needed at the highest levels throughout the Caribbean region. After announcing its expansion into the Saint Lucian market offering three weekly flights from Tortola and Dominica, then routing the flights back to its hub in Tortola, where passengers have access via connecting flights to 20 other destinations, the airline says reception in the island has been very welcoming. Much like the newer locations in which interCaribbean Airways operates, and its great geographical location, Saint Lucia stands to benefit from an increase in flights, destinations and as part of this increase, more job opportunities for nationals. When asked about obstacles to growth for aspiring Caribbean entrepreneurs, the interCaribbean Airways team highlights a need for more support for them, specifically as it relates to financing for new enterprises. According to Chairman Gardiner, the company survived and grew primarily on cash flow but if funding opportunities were available at the early stages of development, its operations would undoubtedly have been more than double the size it is to date. In looking at the future of business in the region Chairman Gardiner suggests, there is also a need for the development of a forum which brings Caribbean persons together in their fields and generally to exchange ideas, offer mentoring opportunities and advisory programmes. He applauded such efforts put on by the “Caribbean Meetup” conference, now in its second year and the “IATA Caribbean Aviation Day” to be held early June in Barbados. Mr. Gardiner believes that many specialized areas like business planning, raising capital, marketing, accounting and such are often neglected as most entrepreneurs are not able to access them. However, according to Chairman, Lyndon Gardiner, ‘it is notable that some persons feel threatened at the prospect of assisting someone coming up in the same field, but it is upon all of us who have achieved some reasonable success to do our part and nurture the future generations for the betterment of us all.’ ¤ www.oecsbusinessfocus.com

interCaribbean Airways

OECSBusinessFocus Jun / Aug

Grenada Steel Works Ltd.

ALWAYSA Disaster BE PREPARED can strike at any time CONTACT US TODAY

State Insurance Corporation

(268) 481-7800-7804 OECSBusinessFocus

Jun/Aug

Fax: (268) 481-7860 www.oecsbusinessfocus.com

Special Feature Technology In Focus

FEATURE COVER

One Community Growing Together

OECSBusinessFocus Jun / Aug

st Regional Governments Commit To Establishing 21 Century Governments

Regional Governments Commit To Establishing 21st Century Governments

eads of Government and their representatives attending the 21st Century Government Summit in Antigua earlier this year endorsed and expressed their commitment to establishing 21st Century Government in their respective countries. The Government of Antigua and Barbuda and the Caribbean Telecommunications Union (CTU), in collaboration with the Caribbean Centre for Development Administration (CARICAD), hosted the Summit to present to regional Heads of Government the principles of 21st Century Government, the goal of which is to accelerate government and public service transformation and thereby strengthen economic competitiveness and promote sustainable development. A three-day Symposium, designed to prepare public sector practitioners for the work that has to be done to establish 21st Century Governments, followed the Summit. Delivering the feature address, and calling on his regional counterparts to take up the mantle to lead the transformation process, Dr. The Rt. Hon. Keith Mitchell stated, “As leaders, we must lead the process. That is our responsibility. We must use our power to make the paradigm shift to break from our traditional mindset, practices and methods of engaging our citizens. We must embrace information and communication technologies to transform and make the relationship with our government and citizens more effective and efficient.”

OECSBusinessFocus Jun / Aug

Prime Minister of Antigua and Barbuda, the Hon. Gaston Browne, in his welcome address to his fellow Heads indicated his full support for the 21st Century Government initiative. Prime Minister Browne stated “The Caribbean Telecommunication Union’s focus on 21st Century Government, starting with this Summit, is timely, welcomed and important. My government fully supports this initiative, as is evident by the work already being undertaken through the Ministry of Information, Broadcasting, Telecommunications and Information Technology in Antigua and Barbuda.” E-government services introduced in Antigua and Barbuda include border control and visa application systems, ASYCUDA World System, digitization

Official photo: 21st Century Government Summit L-R: Dr. The Hon Ubaldus Raymond, Minister in the Ministry of Finance, St. Lucia; Hon. Victor Banks, Chief Minister, Anguilla; Dr. The Hon Timothy Harris, Prime Minister, St. Kitts and Nevis; Bernadette Lewis, Secretary General CTU; Dr. The Right Honourable Keith Mitchell, Prime Minister, Grenada; Hon Gaston Browne, Prime Minister, Antigua and Barbuda; Hon Sean Astwood, Deputy Premier, Turks and Caicos; Hon Melford Nicholas, Minister of Information, Technology, Telecommunications and Broadcasting, Antigua and Barbuda; and Devon Rowe, Executive Director, Caribbean Centre for Development Administration www.oecsbusinessfocus.com

and automation of business registries, onshore and offshore, land registry system and the driver’s license renewal system. Calling on Caribbean Governments to support and transition to 21st Century Government, with urgency, Prime Minister Browne further stated, “For the entire CTU Member States and territories, our future will be a journey with many steps; our future requires us today to take steps that are definitely current and, I dare say, urgent.” “Antigua and Barbuda therefore re-iterates and endorses this initiative and I encourage all of my colleagues to avail themselves of the guidance and support of the CTU.” As she continued to sound the clarion call, Ms. Bernadette Lewis, Secretary General of the CTU, in her opening address, painted a picture of the current situation and state of technology in the region using the analogy of a horse-drawn carriage. “Imagine for a moment a horse-drawn carriage moving at 20km per hour on the busiest highway where the speed of the other vehicles is 100km an hour. Imagine the chaos and peril that would result. One horse-drawn carriage on the highway would snarl all traffic and bring it to a crawl. The horse-drawn carriage is anachronistic in the era of modern cars and smooth highways.”

She continued, “This is what many Caribbean governments seem to be doing, to the peril of their citizens, they are taking their countries on the information super highway using horse-drawn carriages.” She concluded by urging regional leaders to affirm their commitment to and adoption of 21st Century Government. “Heads of Government, at the end of this Summit, we would like to know that you are convinced in your mind of the need to embrace 21st Century Government. We would like to know that you are prepared to champion the move to 21st Century Government. We would like to be assured that you are prepared to collaborate and cooperate with your colleagues in the adoption of 21st Century Government.” The representatives of Estonia, former Minister of Foreign Affairs, Mr. Rein Lang, and of Georgia, Minister of Justice, Ms. Thea Tsulukiani, gave outstanding presentations on what has been achieved in e-Government in their respective countries, both of which are rated in the top e-government countries in the world. The Summit ended on a high note with a round-table discussion of Heads of Government who endorsed 21st Century Government. This set the stage for the three-day Symposium that followed. ¤

CDB Adds Electric Vehicle CDB Adds Electric Vehicle to Transportation Fleet to Transportation Fleet

he Caribbean Development Bank (CDB) has added an electric vehicle to its transportation fleet as part of its commitment to advance a clean energy agenda in the Region.

Energy security is a consideration integrated throughout CDB’s work—both within the organisation and throughout its Borrowing Member Countries, under the Bank’s 2015-2019 Strategic Plan. The vehicle, a Nissan Leaf Tekna purchased through the Barbados-based company, Megapower Ltd., produces zero emissions and will reduce the Bank’s carbon footprint as it transports packages and officials throughout the island.

(L to R) Tessa Williams Robertson, head, Renewable Energy and Energy Efficiency Unit; Monica La Bennett, vice-president (operations); Dr. William Warren Smith, president; Yvette Lemonias Seale, vice-president (corporate services) and bank secretary, during a photo opportunity at CDB’s headquarters in Barbados.

In 2015, CDB adopted an Energy Sector Policy and Strategy that set out the CDB’s approach for tackling the Region’s energy challenges, including emphasising energy security and access; prioritising renewable energy and energy efficiency; and promoting a holistic approach to energy sector transformation. ¤

OECSBusinessFocus Jun / Aug

Caribbean Must Strengthen Its Internet Infrastructure

Caribbean Must Strengthen Its Internet Infrastructure Internet Expert Calls For Greater Regional Network Resilience And Security.

he Caribbean will have to strengthen its critical Internet infrastructure if it is to defend against the growing threat of climate-change-driven natural disasters and if it is to keep up with the world’s growing digital economy.

Dr. Didacus Jules, Director General of the OECS Commission, shared that the devastating impact of the 2017 hurricane season on several Caribbean territories has put a spotlight on the importance of strengthening the resilience of the region’s communications network and infrastructure.

This view was expressed by Internet-expert, Bevil Wooding, the Caribbean Outreach Director at the American Registry for Internet Numbers, ARIN, a US-based non-profit organisation responsible for Internet number resource management.

“As a region, we must have a clear, strategic approach to building out Internet infrastructure to drive business innovation and economic development,” Dr. Jules said.

“In today’s world, the security, resilience and robustness of computer networks are critical to the development of the digital economy. The Caribbean can no longer afford to leave important decisions about network buildout, network resource management and network infrastructure spend only to commercial telecommunications providers. Those issues are now the concern and the responsibility of governments, private network operators and even end users,” he said. Wooding, who is also the Strategic ICT Advisor for the OECS Commission, was speaking in St Vincent and the Grenadines to officials at the 36th Executive Council meeting of the Caribbean Telecommunications Union (CTU), the body responsible for Information and Communications Technology (ICT) policy in the region.

OECSBusinessFocus Jun / Aug

He warned that the global economy will become increasingly unforgiving to regions with failing, outdated or unsecured technology infrastructure. “If we do not act with urgency to address this, the impact on our economic and social development can be more devastating than last season’s hurricanes.” According to Wooding, the CTU has also established a special commission to identify “actionable recommendations for improving Caribbean network resilience.” He also highlighted current efforts by regional and international non-profit organizations to address the issue, noting that the CTU, ARIN, the Caribbean Network Operators Group (CaribNOG), Packet Clearing House and others are already collaborating on initiatives “to develop greater awareness and technical capacity in computer network design, management and cybersecurity.” ¤ www.oecsbusinessfocus.com

ICANN Spearheads Initiative to Build Internet Economy in the Caribbean

ICANN Spearheads Initiative to Build Internet Economy in the Caribbean By Gerard Best

group of global and regional technology organizations are partnering to help Caribbean professionals get more out of the Internet economy.

The Internet Corporation for Assigned Names and Numbers (ICANN) spearheaded the recent launch in Trinidad of the Virtual DNS Entrepreneurship Centre of the Caribbean (VDECC) which aims to open up new money-making opportunities in the DNS industry for Internet businesses and entrepreneurs across the region, including Internet service providers, web hosting companies, top-level domain operators, domain name registrars and resellers, web developers, digital marketers, e-commerce start-ups and Internet legal experts. “With the right mindset, a wide range of Internet stakeholders can take advantage of emerging opportunities to offer their services. Entrepreneurs with the right vision taking the right action can create new and sustainable business ventures,” said Albert Daniels, Stakeholder Engagement Senior Manager for the Caribbean at ICANN. The initiative was launched in partnership with the Latin American and Caribbean Country Code Top-Level Domain Association (LACTLD), CANTO, the Caribbean Telecommunications Union (CTU), and the Caribbean Network Operators Group (CaribNOG), the volunteer-based community of computer network administrators from across the Caribbean. Daniels described VDECC as the fruit of ICANN’s collaboration with organizations such as CANTO, CTU and CaribNOG. Delivering opening remarks at the launch, representatives of those bodies also voiced a desire to build strategic partnerships with ICANN. “The VDECC initiative represents a new wave of possibility for

how the Caribbean region is represented on the global DNS marketplace. We have the chance to engage a new cadre of entrepreneurially minded computer engineers, who are interested in playing a part on the global scale but may not fully understand the pathway to getting there,” said Bevil Wooding, Caribbean Outreach Liaison at the American Registry for Internet Numbers (ARIN), and one of the founders of CaribNOG. Meeting sessions at the launch covered a range of topics, such as the domain name Aftermarket, and how to become an ICANNaccredited registrar. Plenary question-and-answer sessions peppered the agenda, creating a rich atmosphere of free-flowing dialogue among an audience that included a mix of technical, policy, legal and business interests. A number of online participants from across the Caribbean and Latin America also joined the dialogue through a live video stream. The open discussion identified a number of potentially lucrative business opportunities but also pinpointed specific hurdles that have to be overcome. “We have a long road ahead, and this is just the first step,” said Daniel Fink, Stakeholder Engagement Senior Manager for Brazil at ICANN. Upcoming events are being planned for Belize, Guyana and Jamaica later this year. ¤ Albert Daniels, Stakeholder Engagement Senior Manager for the Caribbean at the Internet Corporation of Assigned Names and Numbers (ICANN) speaks at the launch of the Virtual DNS Entrepreneurship Centre for the Caribbean. (Photo credit: Gerard Best) OECSBusinessFocus Jun / Aug

Digital Transformation for the Caribbean

Digital Transformation for the Caribbean The Guyana Government, impressed by Estonia’s digital Government, will tap into that country’s experience to leapfrog the provision of Government services online, Cathy Hughes, Guyana’s Minister of Public Telecommunications announced recently.

Conference in 2017. The conference was targeted at decision makers and strategists from countries implementing national e-Governance strategies.

“The Government has a very strong commitment and we’re actually going to do a consultancy with Estonia so that we can do and implement (an Information and Communications Technology) roadmap,” Hughes told the opening ceremony of the VIII Caribbean Annual Civil Society Dialogue organised by the Inter-American Development Bank (IDB). Estonia’s Parliament conducts its business on an electronic basis, and the President signs passed legislation electronically. Over the past decade, Estonians have been able to vote electronically. ICT is the fastest-growing industry in the European country and there is heavy demand for ICT workers in many sectors, including in medicine, education and agriculture. Hughes was one of the speakers at the Tallin e-Governance

OECSBusinessFocus Jun / Aug

Guyana’s Minister of Public Telecommunications, Cathy Hughes

www.oecsbusinessfocus.com

She told the IDB Civil Society Dialogue that the Government aims to make 200 government services accessible online by 2020. Currently, she suggested doing business in Guyana was a time-consuming cumbersome process that could be frustrating for businesses and investors. However, she said ICTs can change that. “As a Government, we are not interested in maintaining the development of the status quo; but we are interested, I am interested, in real transformation. This country will not transform on the strength of incremental growth, and that is why our discussion on exponential technologies is so important,” she stated. She noted that many countries in the East have changed their fortunes in a short space of time, and they are now exporting ICT equipment, ICT services, as well as their human capital. But that is not to discount the “amazing things” already happening in Guyana, with some local entrepreneurs making the leap to invest in ICTs. She noted that the current behemoths in the ICT sector started in bedrooms and garages and on university campuses and urged businesses and organisations to forget their limitations and envision how they can collaborate “to remove shackles” to competitiveness. The theme of this year’s IDB Dialogue is “Digital Transformation for the Caribbean: How technology and innovation are improving people’s lives” and the key topics to be covered will include digital transformation and industries for the future, innovation and the future of work, the use of innovative technology and data to assess the impact of climate change and the role of civil society in promoting digital economies.

Saint Lucia’s Prime Minister Hon Allen Chastanet with Estonia’s President Kersti Kaljulaid

The objective of the dialogs is to provide Caribbean Civil Society organizations including those that are members of the IDB Civil Society Consulting Groups (ConSOCs), an opportunity to exchange good practices and lessons learned on how the Caribbean can adapt to the new dynamics of the digital economy and exponential growth; explore potential areas for future partnership between the Bank and civil society to adopt innovative development solutions for the region. The IDB Representative to Guyana, Sophie Makonnen, also cited the example of Estonia as an example of how countries can promote “smarter, more rapid development.”

She said “the development of countries rests on how agile they are in promoting the exchange of ideas and experiences and solutions to problems should not arise out of chance but by development and that new technologies are critical to solving today’s development challenges. Promoting technology is no longer a luxury; it is one of the most important and main components of successful development.” A number of OECS and the wider Caricom Countries have been reviewing the e-Governance and ICT initiatives developed by Estonia and have traveled to the country to explore the possibilities of collaboration. The most recent regional leader to visit Estonia was Saint Lucia’s Prime Minister Allen M Chastanet. ¤

OECSBusinessFocus Jun / Aug

Data Privacy Tops Caribbean Internet Governance Agenda

ata privacy was among the items topping the agenda at the Caribbean Internet Governance Forum to be held by the Caribbean Telecommunications Union (CTU) in Suriname in May.

The meeting was part of an effort by several Caribbean countries to establish and strengthen policies to ensure that Internet users’ personal information is collected, shared and used in appropriate ways.

The meeting took place from May 21 to 23, days before the General Data Protection Regulation (GDPR) came into force in the European Union on May 25. The GDPR is a regulation on data protection and privacy for all individuals within the European Union. But Caribbean stakeholders are already preparing for the fallout across the region’s geopolitical space.

Nigel Cassimire, Telecommunications Specialist, Caribbean Telecommunications Union

“The onus is on European companies doing business with anyone in our region to ensure that whoever they do business with have measures in place that will enable them to remain compliant with the GDPR. For the Caribbean, it is urgent for us to understand what requirements will be placed on us,” Cassimire said. The forum was held in Suriname, a former colony of the Kingdom of the Netherlands which became an independent nation in 1975. The agenda included a range of issues, including service resiliency and network neutrality. The Caribbean Internet Governance Forum is a multistakeholder meeting initiated by the CTU and the Caribbean Community (CARICOM) Secretariat to coordinate a regional approach to Internet Governance.

“Although the GDPR comes into effect in Europe, its effect will be felt in the Caribbean, because the region includes Dutch, French and British territories, all of which fall under the EU jurisdiction, and will therefore have to comply with the GDPR from as early as May 25, 2018,” said Nigel Cassimire, Telecommunications Specialist at the CTU.

Since its inception in 2005, the forum has met annually and has focused on the formulation of a regional framework for Caribbean Internet governance policy, the proliferation of Internet exchange points, and the growth of Caribbean influence in the global Internet governance arena.

Because the GDPR has significant penalties for companies found in violation of its data privacy regulations, the law could adversely affect Caribbean companies doing business with European companies.

The forum was part of a series of ongoing policy development discussions across the region. Policy-makers met in Miami on April 19 to discuss Internet governance issues at a special Caribbean Forum hosted by the CTU and the American Registry for Internet Numbers. ¤

OECSBusinessFocus Jun / Aug

www.oecsbusinessfocus.com

Spike in Cyber Attacks on Regional Companies and Organizations

ith cyber-attacks on the rise across the Caribbean, Chief Executive Officer of the Caribbean Israel Centre for Cyber Defense (CICCD), Andre Thomas, has recommended that authorities in Barbados and the region make provision for enhanced legislation and law enforcement capacity, to counter the issue. “They’ve been major hacks recently,” he said in early May. “There was a major hack in St. Maarten, another one in Guyana….We’re aware of hacks taking place all over the region. And they’re mostly under-reported.” Thomas did not identify which entities came under attack. However, he noted that the region is viewed as an easy target by hackers, given its limited cyber-security infrastructure.

While expressing concern about the reluctance to report such incidents, the CICCD official maintained that insufficient training and legislative provisions were among some of the hindrances. “(Hacks) are under-reported because our law enforcement agencies, though very passionate and very willing to make a difference in this area, still have areas of development in terms of being able to deal with cyber-crime. “Most of the jurisdictions do not have cyber-crime legislation. Most of the police departments do not have forensic cyberdetection capacity. There’s so much that has to be done,” Thomas explained.

Andre Thomas Chief Executive Officer of the Caribbean Israel Centre for Cyber Defense (CICCD), He pledged the organization’s support to assist regional countries, particularly as the General Data Protection Regulation, introduced by the European Union, went into effect on May 25. Under the regulations, a company or organisation would be held liable for personal information belonging to an EU citizen or business stolen via a cyber-attack. Included in the stipulations would be a financial penalty, which means the entity would have to forfeit 4% of its global turnover, or be fined a maximum of 20 million Euros (US$23.6 million). ¤ OECSBusinessFocus Jun / Aug

Shernon Osepa, ISOC/Curacao; Stephen Lee, Arkitechs Inc/USA and John Huang, NetKing/Belize at CarPIF 2018 in Belize City, Belize

Strengthening the Caribbean Internet Resilience

4th Annual CarPIF Event Hosted in Belize

espite the growing regional Internet infrastructure, most Caribbean cross-border Internet traffic exchange is still exchanged in North America and Europe. Such routing practices reflect an expensive asymmetry that costs consumers, inhibits growth of indigenous Internet-based business and stymies local digital innovation.

This is where CarPIF, the Caribbean Peering and Interconnection Forum, delivers it main value. CarPIF provides a unique opportunity for the region’s Internet Service Providers and IXP participants to establish new peers, and extend existing peering arrangements, all while sharing knowledge and experience of benefit to the entire peering community. “The constantly increasing video and other rich media content delivered over the internet, is placing heavy demands on Internet Service Providers. Peering is now an essential component of most network strategies to improve their customer experience and cost efficiencies,” said Bevil Wooding, the co-founder and convener of the Forum, and a special advisor to the OECS Commission. The fourth annual Caribbean Peering and Interconnection Connection Forum (CarPIF), was held in Belize City, Belize from the 13 – 14 June. It is the only forum of its kind in the Caribbean organized to specifically encourage greater interconnection among providers delivering Internet content and services to Caribbean consumers. “CarPIF is one of the few meetings on the Caribbean calendar where the economic underpinnings of the peering arrangements that define the Internet, are discussed in such a context, using Caribbean data and Caribbean examples, to a Caribbean audience,” said Wooding. The functionality we enjoy when we view a photograph, watch a video posted by someone half-way around the world, or send an email to a friend in a distant land is brought about by the decision of network and cloud service providers to interconnect their OECSBusinessFocus Jun / Aug

network. The cost and quality of Internet services is dependent, among other things, on how far or near those interconnection points are from sender and the recipient. This is why peering forums are important. According to Wooding, interconnection of the computer networks on the Internet is dependent on not just on technical infrastructure. It requires human networking to establish those connections. “This Caribbean peering forum is a great opportunity to meet our customers in the region and establish important new connections. We are actively exploring options for putting our content at the internet exchange points that are being built in the Caribbean,” said Stephen Lee, CEO of US-based cloud services provider, ArkiTechs Inc. In the four years since it was launched in Barbados, the event has assisted peering coordinators from the Caribbean in building relationships directly with their international counterparts from major Internet companies such as Google, Facebook and Akamai. The events may not have the drama or visibility of a sporting event or political campaign; however, their outcomes directly influence the quality of internet services, and economic opportunities in the region. The CarPIF event is organized by the Caribbean Network Operators Group (CaribNOG), a volunteer-based community of Caribbean technology practitioners. The Forum is supported by non-profit internet organizations, including the Internet Society (ISOC), the Caribbean Telecommunications Union the American Registry for Internet Numbers (ARIN) and Packet Clearing House (PCH). This year’s agenda includes expert speakers from major internet organizations including Google, Akamai, the Internet Corporation for Assigned Names and Numbers (ICANN) and the Latin American Internet Registry (LACNIC). Photo courtesy: Caribbean Peering and Interconnection Forum www.oecsbusinessfocus.com

St Kitts and Nevis Government First to Get Unique Internet Identity

St Kitts and Nevis Government First to Get Unique Internet Identity Federation becomes first Caribbean government to acquire an Autonomous System Number for its computer networks The government of the Federation of St Kitts and Nevis has become the first in the Caribbean to have its unique identifier on the global Internet. An autonomous system number, called an ASN, was assigned to the Federation by the American Registry for Internet Numbers, ARIN, on March 7. An ASN is used to identify a computer network on the global Internet, and is an important part of the system used to exchange data between the thousands of networks that make up the Internet. Previously, the St Kitts and Nevis government network was connected to the Internet through a number assigned by a commercial Internet service provider. Now, with its own autonomous system number, the government joins the ranks of other independent network operators around the world that are identifiable by a unique number. “On September 19, 1983, the nation of St Kitts and Nevis achieved political independence. With this allocation of our very own autonomous system number, our government has taken an important step toward network independence. We see this as a critical element in our plans to build our government network and to provide our citizens and business community with the digital services they are demanding and deserve,” said Vincent Byron, Attorney General and government minister responsible for Justice, Legal Affairs and Communications.

As governments and businesses in the Caribbean rely increasingly on the Internet, more investment is being made in securing domestic infrastructure and developing local technical capacity. ARIN, as well as regional agencies like the Caribbean Telecommunications Union and the Caribbean Network Operators Group, has been working with the Federation to help build and secure government networks and digital services. “With autonomy comes greater responsibility,” said Bevil Wooding, Caribbean Outreach Liaison at ARIN, the nonprofit corporation that manages the distribution of Internet number resources in the Caribbean, as well as Canada and the United States. “Just as political independence entailed new levels of responsibility, so too does network autonomy. The government of St Kitts and Nevis has demonstrated its commitment and leadership to building the local digital economy by securing its own autonomous system number. Next, it must build on this by investing in technical training, policy development and service innovation necessary to foster innovation and new economic opportunity,” Wooding added. He was speaking at a training workshop held by ARIN in Basseterre, St Kitts, where the allocation of the ASN was announced last May. ARIN events in Grenada, Barbados, Saint Lucia and St Kitts and Nevis, Antigua and Barbuda and the Virgin Islands have sparked interest in increasing the number of autonomous networks in the Caribbean.

OECSBusinessFocus Jun / Aug

Silicon Dadli Promoting Tech Entrepreneurship and Innovation in Antigua and Barbuda

hat happens when a team of tech professionals and enthusiasts decide to partner, train and advocate with each other to address information communications technology (ICT) issues?

Some of the innovative ICT solutions and businesses within the Silicon Dadli’s community, include:

In the case of one pioneering group from Antigua and Barbuda, they formed an association named Silicon Dadli, that brings together some of the best in talent and technology that the Eastern Caribbean twin island nation has to offer.

Grid Shop (logo) – Buy and Sell New or Used Items from your Mobile Phone

Started in 2016, this growing community of over 100 members actively engages via mobile and social media platforms, in dialogues about opportunities and possible solutions for the local and even wider Caribbean ICT sectors. Silicon Dadli members comprise of key stakeholders in the industry ranging from Entrepreneurs, Senior IT Managers, IT Specialists and even App Developers.

Pocket Antigua (logo) – Access the Best of Antigua & Barbuda from Your Pocket

One of their top priorities is the promotion of Entrepreneurship, Development and Innovation within the local Antigua and Barbuda marketplace. The group has championed for closer ties between the public, government and business community, to better recognize and take advantage of the homegrown ICT solutions and talent available.

OECSBusinessFocus Jun / Aug

Ebuzzz Network (logo) – Get Personal Alerts about Events, Jobs, Sales and More

Pick Me Up (logo) – Need Transportation - Anytime and Anywhere in Antigua?

The LocaL App (logo) – Explore, Trade & Review Local Businesses, Events, Opportunities & More TickeTing Events (logo) – Save Time & Conveniently Purchase Event Tickets from Anywhere The association is also actively working to get more youth involved in the ICT sector, and is taking steps to become a strong advocate for technology issues in society. Silicon Dadli is open to interested persons members from all backgrounds and skill sets including students and even corporations. They can be contacted at: executive@silicondadli.com or (268) 772 0781 / (268) 772 8913

www.oecsbusinessfocus.com

IICA Contributes To The Introduction Of Technology In St. Kitts And Nevis To Help Nations Recover From Maria And Irma

ecognizing that small developing countries like St. Kitts and Nevis face enormous challenges following the passage of category 5 hurricanes Irma and Maria in 2017, the Inter-American Institute for Cooperation on Agriculture (IICA) and the Caribbean Agricultural Research and Development Institute (CARDI) has provided US$37,000 to rehabilitate the sector and to enhance food security on the islands. In doing so, both institutions were mindful of the fact that there was need to ensure greater resilience against climate change. They, therefore, collaborated with Garden Pool, a United States non-governmental organization (NGO), and the United Nations Food and Agriculture Organization (FAO) to construct an Aquaponics system. “Aquaponics is the combination of aquaculture (raising fish) and hydroponics (the soil-less growing of plants) into one integrated system,” explained IICA’s National Specialist, Augustine Merchant. Regarding this project, the Minister of Agriculture, Alexis Jeffers indicated that: “IICA is doing the right things at the right time to ensure that they assist us in securing our future.” The fish waste, explained Merchant, provides an organic food source for the plants, and the plants naturally filter the water for the fish. The microbes nitrify bacteria, and this bacteria converts ammonia from the fish waste firstly into nitrite, and then into nitrates. Nitrate is a form of nitrogen that plants can uptake and use to grow.

“As climate change increases variability in weather patterns, large aquaponics systems have the potential to increase food security by changing the way food is produced,” Merchant said. In addition, he stated that in areas with climate challenges such as limited water resources, hurricanes and flood, aquaponics can facilitate local food production and enhance food security. The aquaponics system is located at the Government Experimental Station at Prospect Estate, Nevis, and will be used by IICA for demonstration and training. Effects The natural disasters devastated the agricultural sector of the Federation. Greenhouses, standing tree crops, vegetables, livestock feed, poultry, small ruminants, and irrigation pipes were lost or damaged by the unprecedented high winds and flood waters. For a few weeks, there was a shortage of food on the island as some of the countries from which St. Kitts and Nevis import food were adversely affected by the hurricanes. Both institutions recognize the challenge to increase productivity in the agricultural sector, enhance food and nutrition security and understand the implications of climate change. ¤

OECSBusinessFocus Jun / Aug

OECS/USAID Early Learners Programme Undertakes Pilot Study On Virtual Coaching Method

ECS Member States participating in the United States Agency for International Development (USAID) supported Early Learners Programme (ELP) have embarked on a pilot study to determine if virtual coaching is a viable support to in-person professional development for teachers in implementing schools. While classroom-based teacher coaching is a key component of the ELP, the travel time and costs required to support face-to- face professional development can be somewhat prohibitive. The number of coaches that Ministries of Education can reasonably support is also limited due to cost implications. The study will explore the possibility of utilizing virtual support as a means of maintaining consistent job-embedded support and bypass budget constraints. This method could be especially useful in multi-island countries such as Antigua and Barbuda, Grenada with its two Grenadine islands, St. Kitts and Nevis and St. Vincent and the Grenadines. Virtual coaching can provide timely feedback that leads to the successful performance of newly-acquired skills, thereby positively shaping teaching. Research results have affirmed that virtual coaching is an effective and efficient way to support the professional development of teachers. Speaking about the innovative method being pioneered, Mr Rafer Gordon, Education Specialist of the Education Development Management Unit of the OECS Commission, explained:

OECSBusinessFocus Jun / Aug

“Virtual coaching allows teachers to receive the expert guidance they need within the convenience of their classrooms, in real time, without students even being aware. While virtual coaching does have associated costs, such as equipment and internet access, where not available, these costs are far lower than increased personnel, transportation and time costs for ELP Coordinators who have to consistently visit schools and teachers across the islands,” he maintained. The findings of the pilot study will decide whether virtual coaching is an approach that ensures the continued achievement of ELP objectives without compromising the quality of professional development which is a cornerstone of the program. ¤ About the OECS/USAID Early Learners Program (ELP) The OECS/USAID Early Learners Program (ELP) is a reading development programme administered by the OECS Commission and supported by the United States Government, through USAID. The ELP influences essential aspects of policy and practice to improve reading levels of all learners at the early primary level (Grade K to Grade 3) in the six OECS member states of Antigua and Barbuda; Dominica; Grenada; St. Kitts and Nevis; St. Lucia; and St. Vincent and the Grenadines. The ELP strengthens teacher skills through professional development opportunities; improves the quality of teaching through child-centered approaches, learning and assessment and by providing appropriate resources; and improves curricula and assessment strategies through curriculum reviews, assessment standards and guidelines and frameworks for teaching and learning standards www.oecsbusinessfocus.com

Greenscience has created the world's most sustainable, eco-friendly waste management methodology for organic waste materials, which are a major environmental, economic and social problem. It fundamentally addresses the issue, and has developed an environmentally sensitive solution that reduces greenhouse gas emissions associated with waste collection and disposal by 99%.

Typical GreenScience Processing Facility Process Flow Diagram (Not to scale)

RECEIVING

SHRED & PRESS

Digester 1-3TPD

SCREENING & BAGGING (Enclosed & Freestanding) (Tea Bags, 20 L or Super Sacks)

TEA BREWING 1200L

Casting Storage

Green Technology TEA BREWING 1200L

Shipping

Direction of Biomass & Castings Flow form Recipt to Shipping

Green Technology (BVI) Limited and GreenScience Technologies of Canada have joined forces to bring innovative industrial Vermiculture to the Caribbean Region. Taking organic, compostable and other waste and making them into a resource. The output of worm castings create nutrient rich soil highly beneďŹ cial agricultural yields. To ďŹ nd out more please visit www.greenscience.ca

Email: info@gtechbvi.com +1 (284) 340 1836

In addition to the GreenScience Pick-Up model, we offer customized solutions of scaled-down installations for customers who singly generate significant quantities of organic residuals, such as supermarkets, hospitals, hotels, large restaurants, food courts, military bases and correctional facilities. Customers producing less than one ton of organic residuals per day generally fit the GreenScience On-Site model. At the heart of the GreenScience model resides the GS Organic Residuals Digester. The technology employed in this device is unlike anything else on the market. Available in three sizes, the unit produces a highly valued natural soil-amendment from organic waste. OECSBusinessFocus Jun / Aug

• Strengthen Partnerships – We are strengthening existing relationships with our strategic partners in the Caribbean and forging new alliances with relevant entities. To fulfill these objectives, we have created a special Caribbean Forum which will serve as a single point of access for our Caribbean-related activities. The Forum will initially comprise of three streams, each with specific focus areas and objectives: 1. Public Policy Group: focusing on Public Policy in support of Internet development of interest to public sector ministers and technocrats in collaboration with the Caribbean Telecommunications Union (CTU).

ARIN Launches Caribbean Forum

ver the past year, ARIN has steadily increased outreach to the Caribbean, creating new avenues to encourage even more Caribbean participation in our community.

In the process, we have observed growing interest in and requests for Internet number resources. More organizations are inquiring about IPv6 and seeking support for planning and deploying IPv6-enabled networks. There is also an increased interest in creating more autonomous networks and strengthening technical capacity in the Caribbean due to a heightened focus on network resilience and security. These are all very positive developments and they align quite well with our four areas of strategic priority for the Caribbean: • Increase Stakeholder Awareness – We are deepening understanding of our mission and services. • Strengthen Community Participation – We are encouraging greater Caribbean involvement in ARIN policy development and supporting network resilience strengthening initiatives. • Deepen Government Engagement – We are providing targeted support for public sector network development and expanding our outreach to governments.

OECSBusinessFocus Jun / Aug

2. Justice Sector Group: focusing on Cybersecurity and Public Safety Support and Collaboration of interest to law enforcement officials in collaboration with CARICOM IMPACS and judicial and legal officers in collaboration with APEX, the Caribbean agency responsible for justice technology.

3. Network Operators Group: focusing on Internet Number Resource Management, Policy Development, and Technical Community Strengthening of interest to network administrators, IT managers, computer engineers and security professionals in collaboration with the Caribbean Network Operators Group (CaribNOG).

The Network Operators Group has already been activated through our ARIN in the Caribbean events to support network resilience and autonomy. These activities held in Grenada, Barbados, St Lucia, and St Kitts and Nevis have attracted over 250 participants. We are already seeing the fruit of this outreach. In March, the Government of St Kitts and Nevis became the first in the Caribbean to successfully request and be assigned an Autonomous System Number for its Government Wide Area Network Plans. Our Network Operators Group continued its support of CaribNOG at CaribNOG 15 from 18 – 20 April in Miami following ARIN 41. The Public Policy Group and Justice Sector Groups were officially activated on 19 April 2018 immediately following ARIN 41, which was held in Miami, Florida 15-18 April. Following the launch, initiatives will be staged across the Caribbean in collaboration with our partners and stakeholders in the region. We look forward to the work ahead as we grow our community and deepen our support of Internet development in the Caribbean. www.oecsbusinessfocus.com

Internet Organisations Boost Caribbean Networks to Curb Climate Impact on the Region A new initiative to make Caribbean Internet infrastructure less vulnerable to the impact of climate change and natural disasters is gaining momentum across the region. Several Internet organisations recently held talks in Puerto Rico to flesh out a more collaborative approach to boosting Caribbean communications network resilience. “Organisations with a responsibility for coordinating the development of the internet globally are committed to partnering with our stakeholders across the Caribbean to ensure that the region is better prepared for the expected increase in climate-change related events,” said Bevil Wooding, Director of Caribbean Outreach at the American Registry for Internet Numbers (ARIN). “We have a collective responsibility to ensure that our region is adequately prepared, resourced and secured to deal with threats in the physical and virtual world.” Wooding, who is also a Strategic Advisor to the Organisation of Eastern Caribbean States (OECS) Commission, co-chaired the meeting, which included representatives from the Internet Society, Caribbean Telecommunications Union (CTU), the Latin American and Caribbean Internet Registry (LACNIC), the Caribbean Network Operators Group (CaribNOG), the Caribbean Association of National Telecommunication Organisation (CANTO), and the Southern School of Internet Governance, among others. “It is clear that the region needs more robust electrical and telecommunications infrastructure. Without electricity, there is no Internet either,” said Shernon Osepa, meeting co-chair and Regional Affairs Manager for Latin America and the Caribbean at the Internet Society. “The Internet Society is developing a Disaster Relief Fund as part of our Beyond The Net funding program. This new program will enable Internet Society Chapters in affected regions after a natural disaster to apply for funds for projects that restore Internet connectivity,” he added. The latest talks were held parallel to a Community Forum hosted by the Internet Corporation for Assigned Names and Numbers, commonly called ICANN 61, which took place in San Juan, Puerto Rico from March 10 to 15. Puerto Rico is among several Caribbean islands still recovering from the unprecedented 2017 Atlantic Hurricane season. Sharing real-world stories and lessons learnt from lived experience was a major feature of the interactive and lively session. Dr. Oscar Moreno de Ayala, CEO of NIC .PR, shared perspectives from the ongoing recovery efforts in the aftermath of Hurricanes Irma and Maria in Puerto Rico. Lance Hinds, Special Advisor to the Minister of Public Telecommunications in Guyana, said that while the South American nation is not as susceptible to hurricanes as its island-neighbours, the rural and hinterland areas of Guyana are susceptible to flooding during the rainy season, and

there is no less urgency in the need to recover quickly after an adverse environmental event. Hinds explained that the indigenous communities in the hinterland are sometimes severely affected and difficult to assist because of challenges with terrain and distance. “As we consider our expanding communications sector, the Ministry of Public Telecommunications is looking for ways to increase the resilience of our networks to the impact of these kinds of extreme events. That involves engaging the major telcos and the smaller service providers operating in those locations to make sure that there is swift restoration of power and connectivity post-disaster,” Hinds said. Dr. Luis Martinez, President of the Mexico Chapter of the Internet Society, recounted some lessons learnt after a series of earthquakes and aftershocks struck Mexico in September 2017. “After a major earthquake, your best chance to carry out successful search and rescue operations to identify, locate and extract survivors is within the first 48 hours. That means that within two days, we had to set up low-bandwidth community networks to enable simple (SMS-based) communication.” The community of volunteers who were using the network had to learn some basic rules to minimise bandwidth use, prolong battery life, share mobile handsets, and avoid inadvertently hampering official rescue efforts, Martinez said. “Within two days, the way in which people started using the network fell into three basic categories.” He explained that there were fact-finders who were gathering and reporting fresh information, data publishers who were extracting the raw data from the reports and tabling them into open-source spreadsheets and databases, and data verifiers who were working to confirm, correct or debunk reports. “There are many important lessons to be drawn from the experience of the previous natural disasters across the region. We recognize that greater dialog and a more collaborative approach to disaster preparedness and response is key,” Wooding said. Significant attention has been paid over the past few months to the issue of strengthening the resilience of Caribbean networks and to the development of greater technical capacity in the region. Officials from Caribbean ministries with responsibility for Internet and telecommunications policy development recently discussed collaborative approaches to strengthening regional network security and resilience at the CTU’s Caribbean Internet Governance Forum, recently held in St Vincent and the Grenadines. The CTU has also formed a special commission to identify actionable recommendations for improving Caribbean network resilience. Also, CaribNOG will focus on building technical capacity for Caribbean Network engineers and administrators to design resilient networks. ¤

OECSBusinessFocus Jun / Aug

A Climate of Change for the A Climate of Change for the Caribbean Internet at CaribNOG 15 Caribbean Internet at CaribNOG 15 Spring storms with winter qualities clobbered North America recently, threatening Canada with slow-moving storms, and pounding the United States with near-record snowfall in the midwest, low temperatures in the south and tornadoes further east. You could say change was in the air. And although the unseasonable weather didn’t reach as far south as Florida, the climate of change still dominated the atmosphere at the fifteenth regional meeting of the Caribbean Network Operators Group (CaribNOG), held in downtown Miami from April 18 to 20. Network operator groups, or NOGs, are forums where the professionals who design, build, maintain and secure computer networks get together to discuss matters of mutual interest. CaribNOG is a volunteer-based and fastgrowing NOG serving the Caribbean region. The group’s latest meeting, CaribNOG 15, focused on improving the fundamental nature of the Caribbean Internet by strengthening the resilience of its infrastructure and harmonising the regional policies that determine its governance. Resilience refers to the ability of networks to maintain acceptable levels of service in the face of a range of challenges, including cyber-attacks and natural disasters, and even user-errors. OECSBusinessFocus Jun / Aug

The meeting was held at the Caribbean’s de facto gateway to the global Internet. Miami acts as the major hub of hosting and transit services for network traffic from the region. It is also a virtual extension of the Caribbean, acting as the transit point for air and sea cargo entering the region, and as a major destination for migrants of Caribbean background. In 2014, an estimated four million migrants from the Caribbean resided in the United States, with heavy concentrations in Florida, and Miami-Dade County specifically. But while Florida recovered quickly from the impacts of the 2017 Atlantic hurricane season, Puerto Rico, Dominica, Tortola, BVI and other Caribbean islands are still reeling from the devastation and again face a major threat to its already weakened infrastructure. Deficiencies in the region’s telecommunications infrastructure and preparedness were exposed with telling effect in 2017, as disaster response agencies struggled to coordinate relief efforts and citizens struggled to get information or communicate in the aftermath of the storms. The CaribNOG community took notice. Network disaster preparedness, risk mitigation, business continuity and recovery planning have taken top priority on the group’s 2018 agenda. “Resilient Caribbean communications infrastructure is www.oecsbusinessfocus.com

foundational to the region’s ability to effectively respond in times of crisis. Strengthening the technical capacity of the engineers and administrators who manage and safeguard networks in the Caribbean is, therefore, a major priority for CaribNOG,” said Bevil Wooding, a co-Founder of CaribNOG and the Caribbean Liaison at the American Registry for Internet Numbers (ARIN), one of five registries that coordinate Internet number resources worldwide. CaribNOG 15 was co-located with ARIN’s public policy and members meeting, called ARIN 41, held from April 15 to 18. On April 19, ARIN launched a Caribbean Forum, with special symposia focused on Public Policy and Justice. The Public Policy group will focus on a coordinated approach to policy that supports development of the internet at the national and regional levels. The Justice group will support collaboration among law enforcement agencies tackling Internet-related incidents in North America and the Caribbean. “With all the activity taking place at this event, in reality, only one thing is happening: the advance of the Caribbean Internet,” said Wooding. The co-location of CaribNOG 15 with ARIN 41 and the new Caribbean Forum created a lively environment for the discussion of a broad range of issues. One common theme was the need to support what is working and to help fix what is broken. “Sometimes our meetings focus primarily on technical matters, but CaribNOG 15 was different,” said Jamaican-born Stephen Lee, Program Director at CaribNOG and CEO of USbased technology services firm, Arkitechs.

The recently formed Commission on Caribbean Communications Resilience is expected to release a report soon that includes specific recommendations for Caribbean governments, regulators and communications ministries to strengthen regional communication network resilience and improve policy, infrastructure, regulation, technologies and systems. An upcoming Caribbean Peering and Interconnection Forum is set to bring together regional network operators to explore opportunities for strengthening Caribbean network resilience and Internet Exchange Point expansion. Not least of all, the broad-based support for CaribNOG 15 also made a telling statement. The meeting was held with the support of ARIN, Arkitechs, CTU, the Internet Corporation for Assigned Names and Numbers, the Internet Society, the Latin American and Caribbean Internet Registry and Packet Clearing House. The worst of this year’s hurricane season will have come and gone before the next CaribNOG regional meeting, which is set for November 14 to 16. But ongoing movements give reason to hope that the region will be better prepared for whatever this year’s season brings. ¤

RIMCO

“The resilience of the Internet in the Caribbean depends on and affects many other aspects of regional development. At CaribNOG 15, we set out to leverage the presence of a diverse range of stakeholders--including policymakers, law enforcement, and public sector--to create a special environment for technical discussions about the future of the Caribbean internet.” Melford Nicholas, Minister of Information, Broadcasting, Telecommunications and Information Technology for Antigua and Barbuda, and President of the Caribbean Telecommunications Union (CTU), delivered remarks at the event. “We all share one goal,” he said. “The region needs forums like CaribNOG to ensure that we are adequately prepared for the challenges of the digital era.” There are already some encouraging signs. The Internet Society is developing a Disaster Relief Fund as part of its Beyond The Net funding program. This new program will enable Internet Society Chapters in affected regions after a natural disaster to apply for funds for projects that restore Internet connectivity.

OECSBusinessFocus Jun / Aug

CTU’s 14Th Caribbean Internet Governance Forum Addresses Data Protection And The Impact Of Social Media

n keeping with its theme, “Promoting secure, resilient and effective data management in the age of social media,” the 14th CIGF also addressed the positive and negative impact of technology and the use of social media.

collaboration, and economic and political activity. The growth in social media is also raising issues relating to security – physical and digital; privacy; morality and ethics; psychology and the social construct. These issues are unfolding in our region and require appropriate responses.”

The GDPR gives European Union (EU) residents more control over their personal data, which includes the right to be informed, right of access, right of erasure, right of rectification, right to object and right of data portability. Simply put, if someone in the EU wants his or her data to be deleted or to be provided with copies of their data, or even wish to have personal data corrected, companies subject to the provisions of the EU statute have to comply.

Presenters warned of both the positive and negative impact of technology, including the risk of becoming addicted to the Internet, the importance of cyber security and the challenges and opportunities of everyone having a voice.

So how does this affect the Caribbean? Discussions at the 14th CIGF identified that British, Dutch and French overseas territories that fall under the EU jurisdiction must comply with EU regulations. The law could also affect Caribbean companies that provide goods and services to European companies, which is important to note because the GDPR has stiff penalties for persons found in violation of these regulations. According to CTU Secretary General, Bernadette Lewis, who discussed social media during welcome remarks at the Opening Ceremony of the 14th CIGF, “The revolution in information and communications technology (ICT) has given rise to a plethora of social media that have transformed human communications and interactions, the implications of which are only now unfolding and becoming apparent.” Concerned about ill effects that the growth in social media could potentially have on society, Ms. Lewis further cautioned, “The Social Media phenomenon has had many positive transformational benefits – giving a platform to the hitherto voiceless, increasing opportunities for debate,

OECSBusinessFocus Jun / Aug

In addition, in keeping with the capacity building and education objective of the CIGF, the CIGF Academy, i.e. the day 1 sessions oriented towards capacity building, provided an overview on Internet Governance in the Caribbean and globally. The Academy also addressed principles and mechanisms for data protection and, recognising the effects of climate change manifested in the violent impact of the 2017 hurricane season, it also raised awareness of and educated on the need for fostering service resiliency. Initiated by the CTU and the Caribbean Community (CARICOM) Secretariat in 2005, the CIGF is a regional, multi-stakeholder forum established to coordinate regional approaches to Internet Governance (IG). It has developed a Caribbean Internet Governance Policy Framework the current version of which is available at http://www.ctu.int/ projects/caribbean-internet-governance-forum-cigf/. ¤

Photo: Delegates at the 14th Caribbean Internet Governance Forum (CIGF) organised by the Caribbean Telecommunications Union and hosted in Paramaribo by the Telecommunications Authority Suriname (TAS), this Forum took place from 21st to 23rd May 2018.

www.oecsbusinessfocus.com

Caribbean Girls “Hacking” For a Safe Future

ver 800 girls across five Caribbean countries – Barbados, Jamaica, Trinidad and Tobago, Guyana and St Vincent and the Grenadines – came together for an immersive experience in technology in celebration of the International Telecommunication Union (ITU) Girls in ICT Day, April 26, 2018. Following the ground-breaking first Girls in ICT Day Caribbean Hackathon in 2017, woman-led SheLeadsIT and Change Makers Development Ltd. staged the second edition, under the theme #SafeGirlsSafeFuture. The hackathon is a technology for good initiative which provides high school and tertiary level students with an interactive and hands-on experience in the use of digital skills to solve social challenges. A day-long immersion in ICTs, the hackathon gave the girls and young women, an opportunity to envision themselves, not only as users of technology, but creators. The event was supported by several private and public sector entities which recognize the need for a technologically savvy, gender balanced workforce. “To produce a versatile Caribbean workforce capable of navigating the on-going digital revolution we must get more women involved. In the next 10 years, 80 per cent of jobs will require a blend of STEM. We believe it’s critical to engage women earlier in the pipeline to bridge the digital gender divide,” said Bridget Lewis, co-founder of SheLeadsIT. This year, with an increased focus on upskilling both the ‘hacker’ girls and the observers, a series of pre-event

webinars were hosted, focusing on the various ICT activities the girls will be participating in during the hackathon. “We are thrilled to have Google as our regional technical partner facilitating a number of our training webinars and providing mentorship support. In collaboration with local partners iCreate and GeoTech Vision we will be covering an exciting range of topics including, fundamentals of filmmaking, design thinking, web and mobile app development, geo-spatial (drone) technology, podcasting, gaming and animation” said Nicole Pitter Patterson, cofounder of SheLeadsIT. The hackathon was one of thousands of events which happened worldwide in celebration of Girls in ICT Day, which aims to create a global environment that encourages, educates and empowers girls to pursue studies in Science, Technology, Engineering and Mathematics (STEM) and ultimately launch their careers in ICT. “With this exciting hands-on event, where several local, regional and international role model tech speakers will give inspirational messages of support via video stream, we hope to inspire the girls with the confidence to chart their own course in a more dynamic and gender balanced technology sector,” said Samantha Chantrelle, Managing Director of Change Makers. With its target group being females between the ages of 15 and 22, the Girls in ICT Day Caribbean Hackathon is focused on ensuring that Caribbean girls and young women will be ready for a career in ICT long before they get to an office. ¤

OECSBusinessFocus Jun / Aug

ARIN and Antigua & Barbuda Government Host Workshop on Internet Resilience

ARIN and Antigua & Barbuda Government Host ARIN and Antigua & Barbuda workshop on Internet Resilience Government Host workshop on Internet Resilience

he American Registry for Internet Numbers (ARIN) is collaborating with the government of Antigua and Barbuda to strengthen the technical capacity of local network operators.

ARIN is one of five registries responsible for coordinating Internet number resources worldwide. Its service area includes Canada, the United States and several Caribbean countries. The collaboration with the Antigua and Barbuda government comes as part of a broader thrust by ARIN to support development of the Internet across the region. Among the factors that prompted ARIN to enhance its support for the development of stronger networks in the Caribbean is the growing number of reports of cyber-attacks and the increasing threat of climate-related weather events on communications infrastructure and Internet connectivity. Barbuda, Dominica, Puerto Rico, Tortola and other Caribbean islands are still reeling from the devastation of the 2017 Atlantic hurricane season. With the 2018 season soon to begin, the ARIN initiative in the region takes on an added significance, as Antigua, Barbuda and the rest of the region are once again bracing for a potential major threat to their already weakened Internet infrastructure.

OECSBusinessFocus Jun / Aug

Bevil Wooding, Caribbean Outreach Liaison at ARIN, confirmed that the registry has stepped up outreach activities in its Caribbean service area. “Through partnerships with the Organisation for Eastern Caribbean States (OECS), the Caribbean Telecommunications Union (CTU) and the Caribbean Network Operators Group (CaribNOG), ARIN has been working to ensure that the region’s internet infrastructure is strengthened, and the needs of the community of network operators are effectively met, particularly as it relates to Internet number resources and network resilience,” Wooding said. Dozens of Caribbean and international delegates gathered in Miami on April 19 for the launch of ARIN’s Caribbean Forum, an umbrella initiative covering several of the registry’s outreach projects across the region. Among the participants was Hon. Melford Nicholas, Minister of Information, Broadcasting, Telecommunications and Information Technology for Antigua and Barbuda, who is also the current President of the Caribbean Telecommunications Union. The Antigua and Barbuda workshop took place on May 8 at the Runway 10 Conference Centre in St John’s. The oneday meeting agenda included sessions on best practices for building resilient Caribbean networks, IPv6 deployment and an overview of ARIN’s technical services. ¤ www.oecsbusinessfocus.com

CANTO Reaffirms Commitment to Reaffirms Commitment to Engage Engage CANTO Regional Policymakers to Regional Policymakers to Develop ICT Policies Develop ICT Policies

t its recent the Annual General Meeting of CANTO held in Port of Spain Trinidad earlier this year, one of the major points for discussion among the delegates was the recent change of position by the Federal Communications Commission (‘FCC’) by removing ‘Net Neutrality’ rules, and restoring a light touch regulations approach to support internet freedom, ‘Open Internet’. The FCC shared with the meeting that investments by Internet Service Providers (ISPs) in the US had declined by US$3.6 Billion since the US “Open Internet Order” was implemented in 2015. The FCC found that this lack of network investment by ISPs threatened the US policy objectives, including, bridging the digital divide, promoting innovation and modernizing regulations. The FCC outlined that having reviewed the evidence and reassessed whether the 2015 Order supported US policy objectives, the FCC decided to revert to the less restrictive regime that underpinned the successful development of the on-line economy in the period up to 2015. CANTO notes that similar policy driven assessments have resulted in different approaches to internet regulation across the globe, from forbearance from any intervention in Australia to a broader policy approach in the EU which includes stricter rules on the on-line platforms in respect of data and consumer protection and separate investment incentives for networks.

dynamics when making rules can have serious adverse consequences on economies. Chairman of CANTO and Vice Chair of the Caribbean ICT Collaborative Committee (CICC), Mr Julian Wilkins, in his address to the meeting made the point that: “The Caribbean needs an evidence based approach to any new rules in order to support investment in networks and services for Caribbean people and not the simple importation of rules designed for larger economies with different market dynamics”. CANTO and its members support the concept of the Open Internet and the general principle that legal content, applications and services should not be blocked. Equally, CANTO and its members recognise the requirement of Operators to run their networks and their corresponding freedom to innovate and develop new services and business models. Effective evidence based regulations must strike this balance. The 2016 CANTO Code of Practice on Safeguarding Open Internet seeks to strike this balance. CANTO will continue to engage with regional and international policy makers to identify approaches towards the Open Internet which encourage investment in networks and services to connect the unconnected, make services relevant, foster local innovation and employment in the face of global competition and allow the widest participation in the on-line economy by the citizens of the region. ¤

The impact of the FCC 2015 Order on network investment acts as a reminder that failing to take account of local market OECSBusinessFocus Jun / Aug

Montserrat To Try Digital Eastern Caribbean Dollars With Blockchain Start-Up Bitt

remier Donaldson Romeo has signed a memorandum of understanding (MOU) with the Barbados based blockchain start-up Bitt to create a digital payments ecosystem.

According to an announcement posted on Facebook, the agreement has an initial period of three years and provides a framework for Bitt to collaborate with the government and other domestic stakeholders, such as the private sector, commercial banks, and the Eastern Caribbean Central Bank (ECCB). They will work towards developing a pilot programme, which includes a feasibility study to test the viability and functionality of Digital Eastern Caribbean Dollars (DXCD) in the financial ecosystem of Montserrat. The feasibility study in the pilot programme will also facilitate proof of concept experimentation and will use a phased approach within controlled environments to deploy, test and assess the effectiveness of suggested implementations. “The decision to move closer to a cashless society is in keeping with our overall development strategy, and also that of the ECCB,” said Romeo who is also Montserrat’s Finance Minister. “The use of cash, as we all know, has risks and costs

OECSBusinessFocus Jun / Aug

associated with it. It costs money to print money, and saving in cash ‘under the mattress’ and walking around with cash can be risky. The need for cash or for everyday transactions like purchases, or sending money locally to your loved ones, would be eliminated, as you would be able to use Bitt’s mMoney mobile wallet for free peer-topeer transfers of money using your smartphone, tablet or computer.” Once implemented, the digital payments ecosystem will include a number of free services, according to the announcement. Bitt’s mMoney mobile wallet users would be able to send money to loved ones locally or within the ECCU as well as make payments for goods and services for free. In addition, consumers would be able to add funds to their mMoney wallet at any of the Digital Wallet Merchants for free, and make local payments for free. Bitt’s mMoney would be available for free download at Google Playstore or Apple App Store. “Bitt congratulates the Government of Montserrat on this progressive move, and is honoured to assist the island in meeting its objective of boosting financial inclusion, while reducing reliance on cash, as together we build resilience and sustainable socio-economic progress,” said Rawdon Adams, CEO of Bitt. (CMC) ¤

www.oecsbusinessfocus.com

Saving Caribbean Coral Reef With A High-Tech Hand

Saving Caribbean Coral Reefs With A High-Tech Hand Researchers deployed the world’s most advanced Earth measurement system over the Caribbean Sea to chart coral reefs in unprecedented detail. The maps created will be used to develop marine conservation plans in a region devastated last year by back-to-back Category 5 hurricanes. The Carnegie Airborne Observatory spent 16 days flying over a region devastated by hurricanes, using advanced tools to discover the extent of coral reef cover and assess its condition. The data will help with coral restoration efforts. Operated by the Carnegie Airborne Observatory (CAO), the project will create the first high-resolution maps of the shallow waters off St. Croix, the United States Virgin Islands and the Dominican Republic. The information will help the Nature Conservancy environmental group, which organized the initiative, plan coral reef restoration and protection. After hurricanes Irma and Maria hit the Caribbean hard last year, its reefs sustained significant damage. But no one really knows how much because so few are mapped – reef extent worldwide is known at about 50 percent accuracy. “It’s like saying we don’t know where forests are,” says Greg Asner, the Carnegie Airborne Observatory’s founder and director. The work is geared toward searching for live coral refugia – spots where coral species persist despite dying off in surrounding areas – and identifying seafloor habitats with potential for accelerating restoration efforts, such as planting coral nurseries. “All those applications require high-tech imaging,” Asner says. So he built a lab inside a plane. Now in its third generation and known as CAO3, it holds five instruments that complement each other: a custom-built, high-powered, twin-laser Lidar device that sends 500,000 pulses of light per second at the ground to determine position, similar to the way sonar locates objects

using sound; cameras capable of collecting data to a resolution of 10cm (3.9in) from an altitude of 1,000m (3,300ft); and two hyperspectral imaging devices, which show light beyond the wavelengths visible to the human eye. Using “deep learning,” a form of artificial intelligence whose algorithms form a network that can make its own decisions, data scientists on Asner’s team can identify organisms in the hyperspectral images and whether they are alive, dead or under significant stress. Collecting the images from the sky is only part of Asner’s coralmapping effort. His scientists also take the hyperspectral cameras underwater to collect the spectral signatures of known coral species. The airborne observatory’s images are then matched to these libraries using deep learning techniques – essentially the same approach Google Photos uses for face recognition. The CAO’s work in the Caribbean is the middle layer of a threestep process scientists at the Nature Conservancy are undertaking to create scalable solutions for reef monitoring and protection. Monitoring images from Planet, a company that provides global satellite imagery that’s updated everywhere almost daily, the group can see where reefs are and detect change at a rough resolution. CAO then zooms in to show coral genera, bathymetric composition and coral stress based on chemical signatures visible in the spectroscopy. Scuba divers and drone operators then validate what CAO has picked up, which also helps Asner’s data scientists train their algorithms to more accurately assess habitats. “This type of effort is hugely necessary in the Caribbean,” says Battista. “While extensive work has been done in the U.S. Caribbean, reefs in the [Dominican Republic] are largely unmapped so it’s particularly needed.” Source: This article was originally published on Oceans Deeply.

OECSBusinessFocus Jun / Aug

Infusing Technology Into Road Repair By Stan Bishop infrastructure in support of social and economic development,” King said. “The Road Maintenance Management System and Road Asset Management System will play a major role in improving the island’s aging road assets and save the taxpayers of this country resources.” “This system is a collection of software tools which will provide us policymakers with an inventory of the country’s infrastructure assets and a comprehensive snapshot to guide investments in upgrades and routine maintenance,” King added.

Infusing Techonology Into Road Repair

Saint Lucia Unveils New Road Maintenance Management System

he Department of Infrastructure, Ports and Energy in Saint Lucia launched its Road Maintenance Management System (RMMS) in early May.

The Road Maintenance Management System will ensure standardized maintenance work where cost is defined based on economic indicators. The aim is to allow for preventative maintenance planning as opposed to reactive maintenance. Minister for Infrastructure, Ports, Energy and Labour, Stephenson King, said he welcomes the project as a defining moment for the ministry and citizens alike. “(This project) signals government’s commitment to the comprehensive and strategic development of our country’s OECSBusinessFocus Jun / Aug

Benefits from the new project include: • Credible, centralized, secured and readily accessible data • Improved maintenance decisions • A 15% cost savings in maintenance • A 10% lower road user cost and general enhancement in road safety Through competitive bidding, Sirway Limited, a firm from Finland, has been contracted to provide consultancy on the new project and will work alongside ministry officials towards delivering on the following objectives: • To provide a sustainable source of relevant and valid information for managing the road network through a system of strategic monitoring and a road maintenance database • To enhance the programming and budgeting of periodic maintenance and rehabilitation of roads using an economic efficiency criteria • To reduce economic challenges posed by natural disasters and climate change by using risk assessment data to prioritize public spending on infrastructure. King said Sirway Limited has already began its work and that upon completion of the company’s assessment, government will proceed to implement the recommendations made and activate the RMMS. According to Permanent Secretary in the Ministry of Infrastructure, Ports and Energy, Ivor Daniel, close to half a billion dollars will be needed to repair the poor state of the nation’s road network over the next four years. However, Daniel said government has for the past two years increased its allocation towards improving the island’s road network, the aim being making prevention the rule in curing the nation’s road network woes. Daniel was upbeat that the new project is a step in the right direction. “This system is transformational, this system is a game-changer (and) is expected to transform our culture in this Department,” Daniel said. “Inadequate investment in routine maintenance and periodic maintenance has led to significant deterioration of Saint Lucia’s road network over the years. “In addition to the frequency of bad weather conditions due to the impacts of climate change, this has further exacerbated the condition of our roads and created greater challenges for the Department.” ¤ www.oecsbusinessfocus.com

In order to mitigate that trend, Daniel said it was imperative that government invested heavily into the island’s road network maintenance programme. He said the Ministry has determined that nearly $450 million is needed to help stem the deterioration of the road network over the next four years. He said Prime Minister Allen Chastanet has signaled government’s commitment to ensuring that the resources and support are provided to realize that goal.

used to determine priority areas on which government would spend resources.

Daniel said the programme will also result in a more costeffective and comprehensive method by which Ministry officials can manage a road network that is becoming increasingly populated by an estimated 3,600 additional vehicles each year.

“It is, therefore, of utmost importance that those available funds are put to optimal use,” Jn. Baptiste said of the increased allocation from government for roads. “Road users need to understand that the level of intervention that they get in respect to the road network is based on the available fiscal resources.”

“The RMMS will provide scientific analysis and methods for preventative maintenance and planning of our infrastructure and maintenance works. Instead of having this reactive approach to road maintenance, we intend to be on top of our game. We intend to determine with this project the current conditions of the road (which) will be entered into the database,” Daniel explained. He added that the system will utilize internationally-established performance indicators, such as the International Roughness Index (used to define a characteristic of the longitudinal profile of a traveled wheeltrack and constitutes a standardized roughness measurement), to assess how road conditions deteriorate over time. That information, he said, would be

Meanwhile, Chief Engineer, Albert Jn. Baptiste, welcomes the RMMS project, as well as the increased funding the Ministry now receives. He, too, stated that the island’s road network has suffered over the years from inadequate funding being allocated for its upkeep.

Jn. Baptiste said the project will run from this year until 2022 and cover nearly 700 kilometres of the island’s nearly 1000-kilometre road network, 100 bridges and major culverts. Jn. Baptiste said the Ministry is moving away from the previous paradigm of road maintenance by infusing scientific data. In October 2010, the island’s road network suffered a severe blow when Hurricane Tomas caused millions of dollars in damages. Since then, road improvement has been one of the government’s top priorities. However, limited available finances has been a major setback for the island’s road recovery programme.

CDB Adds Electric VehicleWith to CCCR Meets FCC On Transportation Fleet Regional Resilience Members of the Commission on Caribbean Communications Resilience (CCCR) has met with United States Federal Communications Commission (FCC) representatives to discuss new ways to increase the resilience of regional communications infrastructure to extreme natural events.

the infrastructure and service failures and impacted recovery and relief efforts in 2017.

The CCCR was formed after the devastation of the 2017 Atlantic Bernadette Lewis hurricane season in the Caribbean, Chair of the CCCR to investigate the factors that led to connectivity outages, communications infrastructure failures and restoration delays in the Caribbean. It is made up of subject matter experts from internet, technical and academic bodies, as well as representatives from the Internet and telecommunications industry representatives.

“Both organisations are critically examining the region’s communications vulnerabilities, the FCC on behalf of Puerto Rico and the US Virgin Islands, and the CCCR on behalf of affected countries in the Eastern Caribbean. We both have the same goal, to improve the region’s resilience. We are focusing on identifying practical recommendations so that the region’s response can be triggered in a more proactive and meaningful way,” said Lewis, who is also Secretary General of the Caribbean Telecommunications Union.

With less than two months before the official start of the hurricane season on June 1, CCCR commissioners met with FCC officials to share lessons learnt and explore opportunities for collaboration. The meeting was part of the Commission’s ongoing efforts to assess vulnerabilities that contributed to

Among the FCC representatives were Brian Carter, Regional Specialist for Europe and the Caribbean, Anita J. Patankar-Stoll, Associate Chief, Public Safety & Homeland Security Bureau, and Chris Anderson, Chief, Operations and Emergency Management. Bernadette Lewis, Chair of the CCCR, pointed out that both commissions share a common broader objective.

The Commission is expected to share a draft report soon, with recommendations for Caribbean governments, regulators and communications ministries to strengthen regional communication network resilience and improve policy, infrastructure, regulation, technologies and systems. ¤

OECSBusinessFocus Jun / Aug

Embracing E-Learning: OECS Commission and CXC Continue Collaboration Using New Educational Technology

he OECS Commission’s Education Development Management Unit and the Caribbean Examinations Council (CXC) continue their collaboration to support Ministries of Education across the region in the development of existing ICT capacities and the creation of new digital resources. A collaborative approach has been adopted to build a knowledge-sharing community involving Ministries of Education throughout the OECS and wider Caribbean. This saw each member state choosing a set of subjects with the aim of increasing the repository of Open Educational Resources (OER) and giving teachers a greater appreciation of the many features available on the NotesMaster e-learning platform. NotesMaster, a custom built learning environment that allows students open access to knowledge and educational resources and to collaborate remotely while learning, was rolled out in the British Virgin Islands late last year in the wake of hurricanes Irma and Maria. The Ministry of Education in the Turks and Caicos Islands was the latest to benefit from this initiative where over 20 secondary school teachers in the areas of Mathematics, Information Technology, Social Studies and Food and Nutrition were introduced to the platform at the Long Bay High School from May 21 – 23, 2018.

OECSBusinessFocus Jun / Aug

Teachers were trained in the following areas to fully utilise the new technology: • Accessing the toolkits (Virtual Subject Associations) for all CPEA, CCSLC, CVQ, CSEC® & CAPE® subjects; • Creating and managing Virtual Classes complete with assignments, a full set of lesson plans and grading and reporting tools; • Creating and disseminating resources according to the syllabus objectives; • Creating high quality OERs containing text, video, animations, images, tables and sound clips; • Using screen readers for visually impaired students; • Tracking student performance using the Virtual Classes feature; • Engaging parents by showing them how to track their child’s performance and conduct in class; • Creating and posting assignments, handouts and other important information with students; • Utilising cloud storage to facilitate file management and reduce printing and photocopying; • Sharing of OERs with virtual classes which enable students to learn while on their mobile devices; and • Networking and sharing best practices with other teachers in the territory. Mr. Edgar Howell, Chief Education Officer/Director of Education in the Turks and Caicos Islands, welcomed the initiative which seeks to prepare students for the future. www.oecsbusinessfocus.com

“The NotesMaster platform can drive greater student productivity and achievement in all levels of the education system. I am confident it will be effective in preparing the children of the Turks and Caicos Islands for life in the 21st century and beyond,” Howell commented. Turks and Caicos Islands’ Deputy Director of Education Mr. Mark Garland also noted that the new technology perfectly represents the blueprint of the Ministry’s ICT Policy and urged teachers to use the innovative tool. In addition to the teachers, 25 students selected by principals and teachers of each high school were introduced to the NotesMaster toolkits and the variety of learning resources catering to their learning styles, SBA information as well as exam related information for each subject. The students were also introduced to the many ways in which they can take charge of their own learning experiences. Following the training, a teach-the-teacher approach has been adopted and a virtual support network has

been formed for all schools to ensure the full training of all members of staff in the use of the platform. The virtual nature of the training, through email, WhatsApp and Skype, will facilitate the timely communication of the curriculum changes by CXC and the many upgrades to be released later this year on the platform. Dr. Didacus Jules, Director General of the OECS; Mrs. Sisera Simon, Head of the Education Development Management Unit of the OECS; Mr. Edgar Howell, Chief Education Officer/Director of Education; Dr. Perle Brewster, Education Planner; Mr. Mark Garland, Deputy Director of Education; and Mrs. Talia Dara Thomas, Education Officer for Public Schools all contributed to the effective execution of this initiative. The OECS Education Development Management Unit continues to work with CXC to further advance NotesMaster across the region to elevate student educational outcomes. ¤

Haiti To Augmented BringReality Augmented Reality Haiti To Bring And Virtual Tours To Tourist Sites And Virtual Tours To Tourist Sites potential through new information and communication technologies. This project with an envelope of 3 million gourdes will begin during the first 6 months by the enhancement of the Citadelle Henri Christophe, before starting two other phases aimed at enhancing the tourist heritage of the territories, the creation of young jobs. The application will provide users with information in different languages on the history and geography of historical sites and places of interest, as well as a virtual tour in 3D with the ability to take pictures simultaneously to the visit, all from a mobile phone and without having to physically move.

The Ministry of Tourism and the École Supérieure d’Infotronique of the Government of Haiti signed a memorandum of understanding for the launch of an augmented reality program and virtual tour of tourist sites. The objective is to develop new strategies to highlight and promote our tourism

This new technology will enable Haiti to put itself in the forefront of the Caribbean tourism market, facilitate the lives of more than one and promote the country’s tourist sites on an international scale.

OECSBusinessFocus Jun / Aug

Reboots Its Caribbean ICT Roadshow CTU RebootsCTUIts Caribbean ICT Roadshow and communication technologies (ICT) can be used effectively to solve challenges in every aspect of Caribbean life and to support entrepreneurship. Since its inception in 2009, the CTU Roadshow has been held 23 times in 18 Caribbean territories. The Roadshow’s programmes extend to the entire national community, with activities that deliver a consistent message of ICT-enabled social and economic development. The new edition will place emphasis on what the CTU has termed “21st Century Government.” The Roadshow will facilitate this by laying the foundation for establishing Governments throughout the Caribbean, which are fit for purpose in the 21st century.

The Caribbean Telecommunications Union (CTU) has reformatted its pioneering Caribbean ICT Roadshow and is launching the first edition of the updated program in Guyana from 9th to 13th July 2018. The new program is designed create awareness among the public and private sector and civil society of how information

Secretary General of the CTU, Ms. Bernadette Lewis, explained that the goal is to foster the development of government services that are “citizen-centric, seamless and make effective use of ICT to deliver services to its citizens, internal and external clients.” Policymakers, technocrats, regulators, operators, private sector, civil society, academia and citizens are all seen as the target audience for the revised initiative.

ARIN BVI Collaborate to ARINand and BVI Collaborate to Strengthen Internet Resilience Strengthen Internet Resilience A main feature of the symposium was discussion around the relaunch of the BVI Internet Excvhange Point. The Caribbean Network Operators Group (CaribNOG) has pledged source equipment and work with local stakeholders to help raise awareness and increase understanding of the technical requirements and collaborative opportunities for the public and private sector. “We believe that participants left the workshop with a greater awareness and understanding of the role network autonomy plays in improving network resilience, reducing disaster risk reduction and improving disaster response capability,” said Bevil Wooding, Caribbean Outreach Manager for ARIN. The Telecommunications Regulatory Commission (TRC) of the BVI and the American Registry for Internet Numbers (ARIN) hosts a special stakeholders symposium on Strengthening Local Internet Resilience. The half-day event featured information on how ARIN can help individuals and organizations design, secure, and maintain more robust, more resilient networks in the BVI. The forum feature presentations, panel discussions and case studies on topics relevant to network operators, network engineers, policy specialists and leaders from the public sector, private sector and civil society. The program included presentations on topics such as network autonomy and design best practices, number resource acquisition and IPv6 deployment. In addition, members form the private sector and the Government presented plans for improving local infrastructure resilience. OECSBusinessFocus Jun / Aug

“The symposium highlighted the type of collaboration and capacity development activity that our internet service providers and technical community have to invest in at both the national and regional levels. It also underscored the need for government and the private sector to work together to develop and implement specific initiatives to build local network resiliency. Speakers at the symposium included Mr. Bevil Wooding, Caribbean Outreach Liaison, at ARIN and Mr. John Worley, Manager Technical Services at ARIN. The speakers shared that network autonomy is critical to strengthen the resilience of Internet services in the BVI. They encouraged participants to take steps to increase network autonomy and support development of local internet infrastructure. In attendance where representatives from the major service providers, technology solutions providers, government, regulator and civil society.

www.oecsbusinessfocus.com

RBC Becomes The First Bank To Launch Contactless Payment Technology Across The Caribbean

RBC Becomes The First Bank To Launch Contactless Payment Technology Across The Caribbean Customers will be able to use contactless-enabled payment cards from any issuer at RBC point-of-sale devices. Contactless payment technology is a secure method to purchase products or services via contactless-enabled payment cards, using Near Field Communication (NFC). It offers significant advantages to both merchants and their customers by improving the convenience and speed of smaller payment transactions. This new technology facilitates purchases with a contactless-enabled payment card by allowing our merchants’ customers to simply “Tap to Pay” for a purchase on RBC NFC-enabled point-of-sale devices.

RBC, which operates banking services in many countries across the Caribbean, will be enhancing its Merchant Services by enabling RBC point-of-sale devices with contactless payment acceptance, or “Tap” as it is more commonly referred to.

“RBC is serious about innovation and this investment is just one of the ways we are enhancing our digital capabilities across the Caribbean,” said Rob Johnston, Head, Caribbean Banking, RBC. RBC is the first bank in the Caribbean to offer this for merchants across the region.

Adds Electric Vehicle to Transportation FleetSupport Tech-Enabled CDBCDB US$1.5 million Grant to Climate Resilience in Caribbean LiDAR technology is capable of simultaneously gathering both topographic and bathymetric data, which are used to provide detailed information of land and ocean floors, and offer economies of scale. The grant provides resources for the preparation of an Intellectual Property Policy (IPP) and the creation of a product development and marketing strategy for the Centre, as well as the training of 38 end-users from the Bank’s Borrowing Member Countries (BMCs) in the applications of LiDAR data.

The Caribbean Development Bank has approved a project that aims to increase the use of technology to build greater climate resilience throughout the region. Funded through a grant of US$1.5 million and to be executed by the Caribbean Community Climate Change Centre (CCCCC) over a three-year period, the project approved on Monday will support flight-mapping services to collect Light Detection and Ranging (LiDAR) data for almost 10,000 square kilometres of vulnerable Caribbean coastal areas. LiDAR is a remote sensing technology used to obtain highly accurate elevation measurements of the earth’s surface.

“Generating quality scientific data and information products, data sharing, and ease of data access and transfer, are important aspects of building climate resilience across the region because they support an improved understanding of climate risks and impacts,” said Daniel Best, Director, Projects Department, CDB. The LiDAR project will enable CDB’s Borrowing Member Countries to acquire high-resolution coastal and bathymetry datasets at significantly reduced costs, compared with commercial sources. Currently, progress with these activities is being hampered by the absence of quality spatial datasets, which are often projectspecific and provide limited data documentation methodology. Moreover, the cost of acquiring high quality datasets is expensive—a factor that constrains routine updating. The project fills an important gap in efforts to design new climate-resilient investments, retrofit existing infrastructure, support coastal zone management, identify natural hazards and formulate disaster risk management strategies throughout the region. OECSBusinessFocus Jun / Aug

BUSINESS FOCUS

CELEBRATING THE COMPLETION OF PHASE 1 OF WIOC’S TANK EXPANSION The following in an excerpt from a speech at the tank opening ceremony. This ribbon cutting ceremony marks the Completion of Phase 1 of WIOC’s Tank Expansion – and what an incredible journey of growth and learning it has been so far. Our epic story of expansion and growth began on January 7, 2016, at the Tank Expansion Ground breaking ceremony, held right here on this compound. Those of you who were fortunate to be there may recall rusty tanks and vacant land. Less than two and a half years later, the tangible evidence is clear how this facility has been physically transformed.

WIOC Celebrating The Comple-

As you know an epic tale needs a quest – of Phase WIOC’s ation sacred mission.1Inof2016, we set Tank out on a Expansion mission to transform WIOC into a world-class petroleum terminal facility. We committed to invest in the expansion of WIOC’s terminal, the tank farm – our physical plant and our service offering. Specifically, we resolved to implement a four-pronged investment strategy to achieve this vision.

WIOC

First, people development and empowerment - we have invested in more training for our staff over the last two years than any other period in the past. Second, we redoubled our focus on safety and security. Our partners expect

(L to R) His Excellency Raul Licausi - Chairman, Ysmel Serrano - President, PDV Caribe. Gregory Georges - CEO, Sir Clare Roberts - Deputy Governor General, Hon. Melford Nicholas - Minister of Information and Technology, Hon. Maria Browne - Minister of Housing and Lands, Hon. Gaston Browne - Prime Minister

OECSBusinessFocus

Jun/Aug

the very best safety culture in our operations and the sustainability and reliability of our operations is dependent on a first-class safety environment. Third, Investment in our terminal and marine facilities - the spending of hard dollars to acquire new, more reliable and efficient equipment, as our plant facilities are critical to the safety and sustainability of our operations. Additionally, this established a platform for future growth and investment in new revenue generating assets. The new tanks and our bunkering business are manifestations of this fourth prong in our strategy. As in the best films and books – a successful mission is not possible without a band of heroes. Many of WIOC’s heroes – are here with us today and they deserve our heartfelt gratitude. They are champions of the cause who braved many challenges and overcame seemingly insurmountable obstacles with grit and persistence to help us achieve this momentous milestone. First, we must start with the shareholders, and the vision of the Hon. Prime Minister who spearheaded the effort to purchase the majority shares of the company. I have information that it was a tough negotiation but it was through the Prime Minister’s insistence that the GOAB held out to ensure that they held onto majority shares of the company. The purchase of the majority shares therefore set up the platform for significant investment to take place in this business as discussed earlier. Then there are CAPE Contractors, who constructed these tanks to world class standards. Other heroes include our customers and clients who are at the heart of what we do and we are proud to have as our partners www.oecsbusinessfocus.com

SOL and SHELL who are well known, respected and reliable international oil companies. And last but not least by any measure the big hero, my colleagues Team WIOC. I must express my gratitude to the shareholders and directors: They provided the strategic oversight, governance and encouragement which has cleared the way for WIOC’s management team to lead the operation and focus on building up our internal capability to deliver the goals and objectives of our business plan. Thank you to our core team of employees who embraced the changes that this mission demanded and worked diligently with WIOC’s management team to deliver outstanding results over the last 2 years. Your commitment to transforming WIOC into a modern business and work place we can all be proud of is an inspiration and fuels our ongoing transformation process. To put WIOC’s achievements into context I want to briefly touch on some of the challenges we faced and conquered together. Together we turned challenges into opportunities – showcasing dedication, skill, customer care, compassion and ingenuity. Some of these challenges included • Two major hurricanes. Our operations in Barbuda and Dominica were severely disrupted by hurricanes Irma and Maria. However, operations were restored quickly and efficiently as a result of the hard work, commitment and ingenuity of our Team members in Antigua and Dominica. • In Antigua, most of our Team members rallied to ensure our customers were not adversely affected when our operations were threatened by industrial action. • Ensuring that while construction ensued, we not only kept the country adequately supplied but also answered our external customers’ needs with the required stringent planning and focus on the part of the Team as well as making sure that the various construction crews adhered to WIOC’s safety policy. WIOC’s story therefore is one of human triumph. I now briefly highlight our triumphs since the beginning of our journey in January 2016.

• Three tank opening ceremonies commissioning an additional 600,000 barrels of storage • The introduction of a change management program and the launch of the WIOC VISION 2020 • More employee promotions in the last 3 years than in the previous 25 years put together! • Improved procurement processes • Introduction of bunkering services and an award from Shell for a successful incident free season Now it is time for us to write the next chapter of WIOC’s growth and expansion story – building on our achievements earned so far. We dare not rest on our laurels because standing still is the riskiest mind-set and action you can take in our rapidly changing world. With our collective optimism and determination to take the necessary action we will continue to build a successful and sustainable business – fit for the future. Outstanding results will be the natural result of this positive change in the way we do business. How will we proceed? Two words capture the spirit. BOLD AND PRUDENT! We will have to align our cost structure to a leaner operating environment, manage our exposure to risk, make prudent investments that will drive growth and turn a laser sharp focus on our people. People must be at the heart of all that we do. We MUST ensure that we always endeavor to exceed our customer’s expectations. So now that we have significantly enhanced our land side infrastructure as you can all see, it is now time to upgrade our seaside infrastructure to service what

we have on land. So here is our appetizer serving for 2018 projects: • The upgrade our sea-side infrastructure – the Conventional Buoy Mooring (CBM). This will add an additional berth to our facility. • Upgrades to our sea island jetty by retrofitting the jetty so tankers can also berth on the North side of the Jetty. We expect to install additional subsea pipelines which will result in enhanced pumping rates. • We therefore plan to triple our LPG storage within the year. • There will be continuous investment in our safety culture and upgrading our facility to world class standards. I always say my first priority as CEO is to do all I can to ensure that every single employee who walks through the gate on a daily basis to come to work returns home safely to their family. We are introducing an employee safety awards dinner this year to reward WIOC team members who displayed excellence in terms of our safety culture. • Naturally we will continue our programs of development and training of our people as we prepare the next generation of leaders for WIOC. I am proud to be your CEO. It is an honour to set out on the next stage of our quest with you as we push forward to conquer challenges and create opportunities for growth and expansion. I speak from my heart when I say that our citizens will be the ultimate beneficiaries of our continued collective efforts. Gregory Georges CEO – West Indies Oil Company Ltd

OECSBusinessFocus Jun / Aug

ECONOMY & TRADE

& Partner to Launch WE-Xport Project to Provide Greater Access to Finance for Women-owned Businesses Accessing finance to fund business ventures has long been an issue across the Caribbean, especially for women. Now that the Caribbean Export Development Agency and the Caribbean Development Bank (CDB) have joined forces to tackle this challenge, sourcing funds could become easier for women-owned businesses in the Region.

Caribbean Export & CDB Partner to Launch WE-Xport

The two organisations recently signed an agreement to collaborate on a new programme, Women Empowered through Export (WE-Xport), to support capacity-building for womenowned businesses to facilitate their access to finance. A key Caribbean Export & CDB Partner to Launch WE-Xport component of the new initiative which was launched in March 2018 by Caribbean Export will be “Access to Finance” and will include a two-day workshop that aims to increase participants’ constraints they face in applying for funding. The project which understanding of the requirements of financial institutions and we are collaborating on with the CDB will seek to increase the how best to meet them. capacity of women entrepreneurs to better prepare proposals Ongoing technical assistance through regional business support organisations will also be available to participating companies through the CDB-funded component. “CDB recognises the importance of micro, small and mediumsized enterprises as contributors to economic growth and development in our Region. We welcome the opportunity to partner with Caribbean Export to give women-owned businesses the support they need to gain better access to financing. We view WE-Xport as another opportunity for the Bank to directly advance women’s entrepreneurship, and help women business owners overcome one of the greatest obstacles they face when looking to grow their businesses—unlocking financing,” said CDB’s Director of Projects Daniel Best. During his statement at the signing of the agreement, Best noted that between 2013 and 2017, CDB provided lines of credit to micro, small and medium-sized enterprises (MSMEs) totaling approximately US$18 million and benefiting 974 MSMEs across the region. The Bank’s support for interventions targeting women business owners builds on research it commissioned in 2016, which identified gender disparities in access to credit across the Region. As part of its response, the Bank is also collaborating with regional development financial institutions to develop gender policies. Executive Director of Caribbean Export Pamela Coke Hamilton expressed her gratitude to CDB for catching the vision of WEXport during the project’s early stages and partnering on the critical access-to-finance pillar. “As we brainstormed ways of supporting women-owned businesses, we recognised that we needed to address the OECSBusinessFocus

Jun/Aug

to meet the requirements of the financial institutions,” she said. “Through your support we will be able to provide training and technical assistance (TA) to 10 women-owned MSMEs and 10 Business Support Organisations (BSOs).”

Caribbean Export works closely with the European Union to implement a range of activities that support the development of the region’s private sector. Their cooperation for the empowerment of women via WE-Xport is poised to be a game changer for women who participate in the upcoming programme. WE-Xport aims to strengthen and support women-owned enterprises to increase their access to finance, improve and build their capacity as entrepreneurs, increase access to markets (including networking and being integrated to value chains) and advocate on issues and public policies that negatively affect female entrepreneurs. At the signing, Luis Maia, Head of Co-operation at the EU Delegation to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM, reminded attendees that the EU Delegation and Caribbean Export have worked together for 20 years to achieve regional development. “Caribbean Export has been a valued partner in our cooperation with the region, and without their assistance we would not have been able to fulfill our mandate towards private sector development and otherwise. Currently the EU is contributing EUR24 million to increase employment creation, inclusiveness, particularly for youth, women and indigenous groups, and overall poverty reduction in CARIFORUM countries through targeted interventions that provide new and innovative frameworks for growth and development,” Maia told the attending audience. ¤ www.oecsbusinessfocus.com

New IDB Report Finds Investment Shortfalls, Inefficiencies Limiting Caribbean Growth

BUSINESS FOCUS

New IDB Report Finds Investment Shortfalls, Inefficiencies Limiting Caribbean Growth

A new Inter-American Development Bank (IDB) macroeconomic report, has found that investment shortfalls and inefficiencies are limiting growth in Latin America and the Caribbean.

“This combination may be neutral for the US economy that continues to grow strongly,” the IDB said, noting that the report argues it would be negative for Latin America and the Caribbean.

According to the IDB's 2018 Macroeconomic Report, 'A Mandate The report stated that the combined impact could trim the to Grow', which was released on the sidelines of the IDB's annual baseline scenario by 0.3 to 2.3 per cent growth for 2018-2020, New IDB Report Finds and Investment Shortfalls, with higher impacts onIneffiMexico and the Andean region. “The good meeting recently held in Mendoza, Argentina, Latin America is that most of the region is back on the growth path,” said the Caribbean should grow more strongly in the coming years news ciencies Limiting Caribbean Growth though the region will continue to underperform with regards to IDB Chief Economist José Juan Ruiz. the world economy, due to both low levels of and low- quality “However, growth is too slow to satisfy the desires of the region's investment. expanding middle class. The single biggest challenge is increasing The report said the region's gross domestic product (GDP) is the levels and efficiency of investments to make the region more expected to grow an average of 2.6 per cent in 2018-2020, “which productive, make growth faster, more stable, and shield the region is in line with historical growth rates (2.4 per cent is the average more from external shocks,” Ruiz added. growth rate from 1960-2017)”. But the report states this rate “lags behind regions such as emerging Asia and Europe, which The report noted, too, that one of the main reasons for the are expected to grow 6.5 per cent and 3.7 per cent respectively region's economic underperformance is low productivity growth. over the same period”. It also said even these moderate baseline It stated also that an innovative analysis of the region's growth performance, which considers the significant increase in labour growth projections may be at risk. skills, indicates that growth in productivity has been flat between The Washington-based financial institution said a negative global 1990 and 2017. asset price shock — perhaps triggered by faster than expected inflation — could shave off 0.7 per cent of regional growth per By contrast, emerging Asia registered a 0.22 per cent average annum (2.1 per cent of GDP over the next three years).The IDB annual productivity increase over the same period. Only subsaid an alternative scenario “sees higher-than-expected US Saharan Africa performed more poorly, the IDB said. ¤ growth coupled with somewhat higher interest rates and more action on trade policies.

GRENADA AIRPORTS AUTHORITY Grenada Airport Authority

• Passenger Handling • Refueling • Aircraft Catering • Ground Handling

Self-Service Kiosk

• Executive Lounge • FBO Facility • Freight Services • Duty Free Shopping

• Food & Beverage • Foreign Exchange • Self Service Kiosk • Connecting Flights

Connecting Flights

• Ground Transport • VIP Meet & Greet • Airport Tours

Duty Free Shopping

Executive Lounge

Maurice Bishop International Airport Tel: (473) 444-4555 / 4155 / 4101 Fax: (473) 444-4838

E-mail: gaa@mbiagrenada.com Website: www.mbiagrenada.com OECSBusinessFocus Jun / Aug

CSME is a ‘Work in Progress’

ECONOMY & TRADE

CSME is a ‘Work in Progress’ La Rocque said in that regard, Caricom has negotiated a number of Trade Agreements with countries such as Venezuela, Colombia, the Dominican Republic, Cuba and Costa Rica, as well as with the European Union. He predicted that the Caricom market will grow from approximately six to more than 16 million, as soon as Haiti puts the necessary requirements in place to participate in the CSME. La Rocque said Trinidad & Tobago has the largest share of the trade in goods within the Single Market. In 2016, the last year for which Caricom has released regional trade data, the country’s total exports to the rest of Caricom amounted to US734 million dollars, representing 32 per cent of Caricom’s intra-regional exports. The CSME allows for the free movement of goods, skills, services and labour across the 15-member grouping of CARICOM Countries and CARICOM Secretary-General Irwin La Rocque said that it still remains as relevant today as when the idea was first conceived in 1989 while addressing the members of the Trinidad and Tobago Manufacturers Association in Trinidad. “It represents tremendous potential to provide business opportunities for manufacturing, services and agriculture.

”

“It allows for expanding scope and scale of production, using the skills and capital available in our region, and allowing for cross-border production and production integration,” La Rocque told the annual general meeting of the Trinidad &Tobago Manufacturers Association (TTMA).

He said all of the basic elements of the CSME are mutually supportive, be it trade in goods, trade in services, movement of skills and capital and the right of establishment. “We therefore need to make advances on all elements simultaneously for us to be truly successful,” he said, adding that the CSME is a vehicle through which businesses, utilising the enlarged single space, can expand their horizons to enhance their competitiveness and so use the regional platform as a springboard into the global market. Jun/Aug

He said excluding petroleum and petroleum products, exports to Caricom totalled US567 million dollars or approximately 25 per cent of total intra-regional exports.

...excluding petroleum and petroleum products, exports to Caricom totalled US567 million dollars or approximately 25 per cent of total intra-regional exports.

The CSME has been fashioned to provide the opportunity for us to use our human, financial and natural resources to build a competitive economy.

OECSBusinessFocus

La Rocque said this was the lowest figure in 13 years, due primarily to the drop in energy prices. He said it also represented 10 per cent of Trinidad & Tobago’s global exports indicating that Caricom was the country’s second largest export market in 2017.

Further, non-petroleum exports to Caricom in 2016 represented 11 per cent of the country’s total global non-petroleum exports, La Rocque said, adding “it is clear, therefore, that the CSME provides an important market for Trinidad and Tobago’s manufacturers”. La Rocque said these figures do not include trade in services which is a significant aspect of Trinidad & Tobago’s trade with the region.

”

“While the CSME continues to be a work in progress, it is sufficiently advanced to be used more effectively by the private sector. There has been significant progress in several specific ways. There is free trade in goods and services, free movement of skills and capital, and the cross-border establishment of businesses. It is true that there have been some hitches but these are being addressed.” La Rocque said an important part of the CSME is a mechanism for resolving disputes arising out of rights and responsibilities emanating from the Revised Treaty and decisions of the Organs of the Community. (CMC) ¤

www.oecsbusinessfocus.com

St Kitts & Nevis Trinidad’s NGC Gets 1,200+ CBI Signs Major Energy Applications Via Agreement with Hurricane Relief Fund Grenada’s GPG

Trinidad’s NGC Signs Major Energy Agreement with Grenada’s GPG

St Kitts & Nevis Gets 1,200+ CBI Applications Via Hurricane Relief Fund

The National Gas Company (NGC) of Trinidad & Tobago has finalised a commercial agreement with the Global Petroleum Group (GPG) operating in Grenada. In a release, NGC said the agreement marks a major development in the collaboration and energy cooperation among Caricom countries and is an important pillar in growing and strengthening the region’s economies. “The relationship between the two companies is a result of the Energy Sector Development Framework Agreement signed between the Government of the Republic of T&T and the Government of Grenada. GPG is an oil and gas company currently undertaking exploration and appraisal activities off the south coast of Grenada, near the Patao/Dragon fields in Venezuela and North Coast Marine Area (NCMA) fields in Trinidad.” The release said NGC Chairman Gerry Brooks indicated that with the support of Government, the company will continue to work closely with GPG and the Grenada Government as the project progresses. “Brooks articulated his optimism that the framework agreement between the two Governments will foster a partnership of mutual benefit and growth opportunities for both countries. The agreement signals NGC’s unwavering resolve to meet the challenge of gas supply in Trinidad & Tobago by providing a ready market for the sale of natural gas and natural gas liquids (NGLs),” the release said.

More than 1,200 applications have been submitted for economic citizenship in St. Kitts and Nevis under the Hurricane Relief Fund, a temporary investment option introduced under the twinisland federation’s Citizenship by Investment (CBI) programme, in the midst of a destructive 2017 hurricane season. The disclosure came from Prime Minister and Minister of Finance, Dr. Timothy Harris, on May 30, as he reported on the success of the six-month fund and the overall strength of the country’s CBI programme. The Hurricane Relief Fund was established in September 2017 as a third investment option. The funds raised under this initiative will go towards the rehabilitation and reconstruction of key public infrastructure, such as roads and buildings, which suffered damage during the passage of two Category 5 hurricanes, Irma and Maria, in that month.

“To effectively monetise any gas reserves in the fastest possible time, NGC will utilise existing domestic infrastructure as well as leverage our four decades of experience and technical proficiency in pipeline construction and natural gas transportation.”

Prime Minister Harris said that over the next six months the applications will be processed and a determination made as to how many were successful.

NGC also added that in the fulfilment of its mandate to be “the prime mover in gas-based development,” it has forged strong linkages, both upstream and downstream, and established energy partnerships in foreign jurisdictions.

“Success occurs where an application succeeds at the vigorous multi-tiered due diligence process and the applicants and/or agents successfully wire payments to satisfy their obligations,” he said.

“The company has facilitated numerous early business development projects which have shaped the local natural gas landscape. It is these capabilities and expertise which NGC will utilise to assist GPG in developing Grenada’s natural gas-based energy sector.”

Dr. Harris said once the statistics are completed and available, the Government would provide that data to the public.

NGC President Mark Loquan added that NGC and GPG will continue joint studies to determine the best fit to provide natural gas-based fuel to meet Grenada’s domestic gas requirements as well as, any other areas of mutual benefit relative to the energy sector in the region. ¤

Shortly after the introduction of the Hurricane Relief Fund, St Kitts and Nevis was recognized internationally for offering the World’s Most Innovative Investment Immigration Programme at the 2017 Russian Global Citizen Awards ceremony held in Moscow. The annual event recognizes the best governments, companies and individuals who have excelled in investment, freedom of movement, and residence services. ¤ OECSBusinessFocus Jun / Aug

ECONOMY & TRADE

Regional Economy Rising, but Key Sector Investment Needed Regional Economy Rising, but Key Sector Investment Needed

Economic growth in Latin America and the Caribbean is picking up, thanks to stronger demand at home, and a favourable global environment helped also by rebounding commodity prices.

the world. In response to these challenges and to secure durable growth that benefits all, policymakers in the region will need to implement key reforms and policies that focus on:

But to secure more durable growth with widespread benefits, the region needs to invest more in key sectors, like infrastructure and education, to boost productivity over the longer-term, the IMF said in its latest regional assessment.

• Continuing to adjust to place debt ratios on a sustainable footing with a special attention to the quality of the adjustment;

The Regional Economic Outlook for the Western Hemisphere estimates growth for the region to increase from 1.3 percent in 2017 to 2 percent in 2018. For 2019, the report forecasts growth to continue to pick up to 2.8 percent. Following the recovery in private consumption in 2017, business investment is expected to rise and become the main driver of economic activity, after a three-year contraction. Despite this rebound, investment levels are expected to remain below the levels as seen in other regions, limiting the region’s growth potential, according to the report. But many challenges lie ahead for the region. According to the report, non-economic factors that could derail the region’s recent economic recovery include political uncertainty due to upcoming elections in several countries, geopolitical tensions, and extreme weather events. Heightened economic risks externally—notably, a shift towards more protectionist policies and a sudden tightening of global financial conditions—could also weigh heavily on growth prospects. Looking ahead, longer-term growth prospects for Latin America and the Caribbean remain subdued, suggesting that income levels in these countries are struggling to catch up to advanced economies. Despite recent gains in poverty and inequality reduction, Latin American and the Caribbean remains the most unequal region in OECSBusinessFocus

Jun/Aug

• Further improving central bank communication transparency to better deal with future shocks;

and

• Investing more in people through more efficient spending in education; • Improving infrastructure, which would also boost other investment in the region; • Tackling corruption by improving governance and the business climate; and • Opening up more to trade and financial markets, which can be seen as a step toward greater global integration; and protecting gains from social spending. Growth in South America is being led by the end of recessions in Argentina, Brazil, and Ecuador; higher commodity prices; and a moderation of inflation that has provided space for monetary easing. In the near term, Mexico, Central America, and parts of the Caribbean are benefiting from stronger growth in the United States. Nevertheless, potential implications of the U.S. tax reform and ongoing renegotiations of the North American Free Trade Agreement (NAFTA) are also creating uncertainties for the region. Specifically for the Caribbean, prospects are improving, with growth in both tourism-dependent economies and commodity exporters projected to be in the one to two per cent range for 2018 and 2019. ¤ www.oecsbusinessfocus.com

IDB: Caribbean requires Ambitious Growth Agenda Cover of the IDB’s 2018 Latin America and Caribbean Macroeconomic Report “While the global economy faces potential risks from higher interest rates and a correction to global asset prices, the region’s overall outlook is positive, with a 1.9 per cent growth rate expected this year.” The IDB noted however, this is “well below the growth rate expected for the world of 3.9 per cent and (the region) will continue to lag unless substantial policy changes are enacted on the economic front.” The report also found that past drivers of growth, such as positive demographic trends, increasing commodity prices and available fiscal stimulus space have either been “reversed or restricted.” IDB Vice-President for Sectors, Santiago Levy said, “For many decades now, Latin America has been accumulating a growth deficit.” “Macroeconomic stability is a good starting point to get an economy moving forward,” Levy added, “but to grow more vigorously, we need to invest more and more productively. And we need to tackle the bottlenecks that limit growth, which include the design of tax systems, low savings, credit constraints and the lack of competitive markets that reward high productivity.” Arguing that the Caribbean and Latin America “need more investments, particularly in infrastructure”, the report pointed out that investment rates for the 1990-2017 period averaged 17 per cent of gross domestic product (GDP) – well behind the 26 per cent rate for Emerging Asia. In addition, the report said the region is “40 per cent less effective than Emerging Asia in generating GDP growth for every additional invested dollar. Latin America’s economy would be three times larger today, if it had managed to match Emerging Asia’s investment rates and efficiency since 1990.”

IDB: Caribbean requires

ambitious growth agenda The Inter-American Development Bank (IDB) says an “ambitious growth agenda” is required by Caribbean and Latin American countries, if they are to catch up with investment and productivity levels in faster-growing regions such as Asia. This was the assessment coming out of part one of the IDB’s 2018 Macroeconomic Report, A Mandate to Grow, released during the Annual Meeting of the IDB Group’s Board of Governors in Argentina on March 23.

Challenges for the region include a low savings rates, small and inefficient financial systems, pension systems that have low coverage and on the fiscal front, low revenues and a bias against public investment relative to consumption, the IDB report stated. ¤

OECSBusinessFocus Jun / Aug

ECONOMY & TRADE

Joint Responses to International Matters Show Citizen Investment Programmes Can Be Harmonized

Joint Responses to International Matters Show Citizen Investment Programmes Can Be Harmonized Chief Executive Officer (CEO) of St. Kitts and Nevis’ Citizenship by Investment Unit (CIU), Les Khan, believes the strong level of unity that already exists within the Caribbean in dealing with international matters of common interests can be adopted to create a greater sense of unity among the five Citizenship by Investment (CBI) programmes that currently exist in the region. Khan, while presenting on the topic “The Caribbean Model for Unity” at the May 16-19, 2018 Caribbean Investment Summit in St. Kitts and Nevis, stated that there is no need to reinvent the wheel when there already exists a model for Caribbean unity from which best practices can be drawn. “One only needs to consider the unity across the region on matters of trade, for example, the joint response of disputes in the past about preferential trade access for banana exports, or the community of purpose on matters of tourism; for example the joint work of Caribbean governments and regional tourism organizations in response to levying of the air passenger duty by the UK and the inequity it provided for our small island economies,” he said. He added: “This unity was effective and it did not diminish our countries’ individual strength or their respective national best interest. In fact, coming together and standing and acting in unity are acts of self-preservation for the Caribbean and there is no reason why this model of unity cannot be equally applied to the OECSBusinessFocus

Jun/Aug

Citizenship by Investment industry across the region.” In strengthening his point, Khan, who also serves as chairman of the Citizenship by Investment Programmes Association (CIPA), noted that the region’s response to the recent report by the Organization for Economic Co-operation and Development (OECD) suggesting that CBI and residency by investment programmes be listed as “high-risk”, was a clear indication of regional CBI jurisdictions’ ability to operate in unison. “Over the last few months, we have heard media reports about a race to the bottom,” he said. “CIPA has had a strong discussion on the subject and while we publicly did not produce a statement, we strongly agreed that any reduction below the current levels is counterproductive and would undermine the integrity of the global brands that our respective CBIs have successfully built. This is the nature of the kind of unity to which the theme refers – a shared recognition that the viability and longevity of our programmes demand that on crucial issues we benefit from standing together.” Khan noted that the discussions on harmonizing the region’s CBI programmes will continue throughout the year, and noted that over the next few months, CIPA will lead dialogue on regulation of the industry, standardization of process, due diligence and sharing of information where possible. ¤ www.oecsbusinessfocus.com

Department of Commerce Conducts Investment Climate Assessment Survey

Department of Commerce Conducts Investment Climate Assessment Survey The St. Lucia Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs in May announced that it was soliciting information from 350 local businesses to better understand the existing business climate. The exercise forms the backbone of the Department’s 2018 Investment Climate Assessment Survey for Saint Lucia. Similar surveys were conducted in 2009 and 2013. The objectives of the assessment are to evaluate the investment climate in Saint Lucia in all its operational dimensions and to develop evidence-based policies and strategies to enhance the island’s investment and business climate over the next three years. The survey will capture data on firm productivity, the cost of doing business, the regulatory environment, the labour market, the financial sector, the trade regime, levels of investment, the impact of correspondence banking on the private sector, and the impact of the reduced Value Added Tax. The Department’s Director of Investment Coordination, Nancy Francis, said such surveys serve to place countries in a better position to make the requisite changes in systems that redound to more progressive and productive investment climates. As such, the findings of the survey will help Government shape policies and interventions to better meet the needs of the micro, small and medium enterprises. Francis urged firms shortlisted for the survey to take the survey seriously as Government seeks to develop a more diversified and competitive private sector aimed at increasing exports capacity and attracting foreign investment.

By Stan Bishop She said that while there were exogenous factors that affect investment flows, it was imperative that countries conduct periodic assessments of those factors that can potentially have a negative effect on the investment environment.

Research, she said, has shown that a stable, transparent and predictable business environment is one of the key conduits that drive investment and, ultimately, economic growth and development. “Research and lived experiences of investors have revealed that investors want to be assured that the business facilitation process is unambiguous and seamless,” she said at a press conference to announce the survey. “Given the global race to attract investment flows, this Investment Climate Assessment Survey is being undertaken as a scientific input into the development of investment/business environment reforms. These reforms are aimed at making Saint Lucia the best that it can be in attracting, encouraging and facilitating investments from both the foreign and domestic sectors.” Meanwhile, Preville and Associates Consulting Group has been contracted to undertake the survey and will work closely with the Central Statistics Office. The Group’s Managing Director, Dr. Claudius Preville, said the current survey is imperative since Saint Lucia has suffered from a shortfall in investment over the past years. The survey, he says, aims to identify challenges and address them. Citing data from the 2017 World Investment Report, published by the United Nations Conference on Trade and Development (UNCTAD), he said inward investment flows for Saint Lucia amounted

to US$95 million in 2016 and about US$93 million in 2015. Dr. Preville said the total stock of foreign direct investment (FDI) resident in Saint Lucia as of 2016 stood at US$2.6 billion, up from US$2.5 billion in 2015. However, Dr. Preville said that the period average prior to the economic crisis in 2008 showed that the annual average inflows were well above the US$100 million mark. “So it tells us that something is not quite right since the international economic crisis,” he said. “In spite of our Investment Climate Assessments in 2009 and 2013, we have not seen a noted improvement.” Dr. Preville said among the main factors that stood out in the previous two surveys were crime, tax rates, the cost of financing businesses, Customs and trade regulations, skills and education of available workers, and tax administration. Trade Advisor in the Department of Commerce, Dr. Thomas Samuel, said the survey is very essential in terms of changing the business climate for local industry and informing potential investors -- both local and foreign. While some businesses might be apprehensive about participating in the survey, he noted that the end-result benefits all stakeholders. “Sometimes you hear in the corridors people lamenting that their interests and concerns are not being heard,” Dr. Samuel said. “You have an opportunity here to shape the policies that will influence your success. It’s important that we do that. It’s been a challenge throughout the region to build a data culture, where we understand the importance of (this exercise). There’s still that sensitivity and skepticism.” ¤

OECSBusinessFocus Jun / Aug

Economists Urge the Caribbean to Dive Into the “Blue Economy” Wave

Economists Urge the Caribbean to Dive Into the “Blue Economy” Wave Caribbean countries should dive into the “blue economy” to exploit marine resources, giving their economies a much needed boost, while protecting coastal eco-systems, economists said. The island nations which have 80 times more sea than land, have been hampered by low growth and high debt, and they will need to attract financing to develop sectors like ocean renewable energy and marine biotechnology, they said. “We very much see the blue economy as fundamentally central for the Caribbean region’s economic growth,” said Tahseen Sayed, the World Bank Director for Caribbean countries, in a speech. The value of global oceans is estimated to be $24 trillion, the Caribbean Development Bank (CDB) said in its “Financing the Blue Economy” report, released recently at its annual Board of Governors meeting held in Grenada. That estimate was based on activities such as fishing, tourism, transport and carbon sequestration, which refers to the storage of carbon dioxide and other forms of carbon as a strategy to mitigate the effects of climate change. Capitalising on newer areas of the so-called blue economy, such as using the oceans to generate energy, could help drive economic growth in the region where one person in five lives in poverty, said the report. “We’ve been unable to fully harness the potential of these resources,” Roger McLeod, CDB Economist and report co-author, told the conference.

OECSBusinessFocus

Jun/Aug

Private investors would be willing to put money into wellstructured deals, but the region needs to create a unified policy to drive the sector and make it easier for people to invest, said speakers. The Nature Conservancy, a U.S.-based group, proposed that Caribbean nations negotiate debt-for-nature deals, as it has done with the Seychelles. The East African island nation designated a third of its marine area as “protected” in return for The Nature Conservancy agreeing to buy up nearly $22 million of its outstanding $406 million sovereign debt. Grenada, which has 26,000 sq kms (10,000 sq miles) of ocean within its territory, is one country now negotiating a debt-fornature swap as part of its Blue Growth Coastal Master Plan. Related projects could also involve funding to improve fisheries, and develop sustainable energy, said Rob Weary, a senior director at NatureVest, which funds deals for The Nature Conservancy. “The private sector capital is interested in the debt restructuring work because of the cash-flow it creates for conservation,” Weary told the Thomson Reuters Foundation. He said renewable energy projects would be likely to attract investors. “It’s a true impact,” said Weary. “They get their money back with a return and you generate all this cash for the environment.” ¤

www.oecsbusinessfocus.com

CDB Allocates US$1 Million to Support CARTAC Programmes in the Region Bermuda Insurer CDB Allocates US$1 Million Bermuda Insurer Acquires Stake in Beacon to Support CARTAC Acquires Stake in Beacon Programmes in the Region

Bermuda-based insurers Colonial Group International Limited has acquired a minority stake in the Beacon Insurance Company Limited. The partnership agreement, which is subject to regulatory approval by the Central Bank, is expected to generate significant growth opportunities for both insurers, the companies said in a joint statement on May 15. It will provide Colonial with access to additional Eastern Caribbean markets where Beacon is licensed to operate—T&T, Grenada, St. Vincent, St. Lucia, Dominica, St. Kitts and Nevis and Barbados— and enable it to expand its presence to 12 jurisdictions across the region and diversify its risk profile. Beacon will be able to leverage Colonial’s support to strengthen its product offerings in health and introduce new and innovative products related to life and pension services. Beacon’s CEO, Gerald Hadeed, said the Colonial-Beacon partnership is based on similar business cultures. “Our motto at Beacon sums up our approach to business: ‘Insurance is a promise to pay and at Beacon we keep our promises. “In Colonial, we see the same commitment, and their track record of being ‘first on the ground, first to settle’ proves it. We are delighted to join with them to continue serving our clients and growing our business through shared know-how, skills and resources,” he said. Colonial’s CEO, Naz Farrow, described the agreement as “perfect symmetry” for the two insurance groups: “We are thrilled to partner with Beacon. This partnership will bring together complementary qualities that will strengthen product lines and expand and deepen our market presence—all for the benefit of our existing clients and new customers. “Integral to this new partnership is a mutual people-first approach to service, in which the two companies take pride in promptly meeting our customer commitments. “We are particularly keen to be working with Beacon’s strong and experienced management group. They have shown across decades that you can build a successful business by putting people first, which is precisely the approach we take here at Colonial.” ¤

The Barbados-based Caribbean Development Bank (CDB) said during its Annual Conference in May in St Georges, Grenada, that it will renew support for a programme designed to help countries in the region strengthen their human and institutional capacity to design and implement policies which promote growth and reduce poverty. The CDB has since approved one million US dollars towards the International Monetary Fund’s (IMF) Caribbean Regional Technical Assistance Centre (CARTAC) programme until 2022. CARTAC is one of 10 regional technical assistance centres operated by IMF around the world. In the Caribbean region, the centre has supported capacity building in public financial management, tax and customs policy and administration. Also, it has contributed to improving the quality of statistics in the real and external sectors to strengthen policymaking. “Since 2002, the CDB has provided strong support to CARTAC’s operations, acknowledging the pressing need to foster sustainable growth and reduce poverty across our borrowing member countries. “The bank is pleased to renew its support for the programme’s fifth phase, and looks forward to a continued partnership with IMF and other CARTAC development partners who share a common goal of addressing skills gaps to improve institutional quality in our region,” said Dr Justin Ram, the Director of Economics at the CDB. The CDB said that CARTAC has provided assistance with the implementation of Value Added Tax (VAT) as a reliable and efficient revenue source in eight regional countries. “Also, the Centre has supported the development of modern revenue administrations, including large taxpayers units; efforts to cross-match data to enhance tax compliance; and the implementation of the Automated System for Customs Data Acquisition (ASYCUDA), post-clearance audits, and trade facilitation. All of these initiatives contribute to improved fiscal resilience in the recipient countries.” CARTAC’s objectives include: strengthening fiscal administration, with specific attention to tax administration and budget management, in order to promote greater public sector savings; improving the scope, quality and timeliness of economic and social statistics, in order to enhance capacity for analysis, policy formulation, and for investment planning and implementation and helping to bring accounting, regulatory and supervisory regimes in line with international practices, in order to facilitate continuing integration into a competitive, globalised trading and financial environment. ¤ OECSBusinessFocus Jun / Aug

ECONOMY & TRADE

Red Stripe on Track with Cassava Production

on Track with Cassava Production By Karena Bennett

Beer manufacturer Red Stripe Jamaica plans to have 40% volume of the locallygrown cassava in the production of its malt, beer and stout beverages by 2020 — but could find itself working overtime to reach the target after experiencing some setbacks on its pilot cassava farm in Bernard Lodge, St. Catherine. “It’s one of the most challenging farms to operate. We depend on the National Irrigation Commission for water and there are times when there is no water, the pressure in the system is low, there is a burst main pipe,” Production Supervisor, Narado Richards, said during a tour of the company’s cassava farms on May 14. Red Stripe was also faced with poor soil quality and wasted space as a result of the 36-acre property being leased from the Sugar Corporation of Jamaica, previously used for illegal sand mining activities. Richards noted that only 24 of the 36 acres had been identified as arable land with the remaining being used as green space. Last year, Bernard Lodge cassava farm produced the highest yield of 28 tonnes per hectare compared to 17 tonnes in previous years. Nonetheless, the beer company has been able to achieve 15% cassava in Red Stripe beer since the launch of the Project Grow OECSBusinessFocus

Jun/Aug

programme in 2013. Ultimately, Project Grow aims to replace imported high maltose corn syrup in the production of the beer. The programme also seeks to encourage the development of the agriculture sector, giving farmers the opportunity to earn. But the issues of Bernard Lodge, which became operational in 2014, have now forced Red Stripe to go back to the drawing board to determine whether it wants to keep cultivating the farm for production, or to use it as a testing ground for successful practices to be adopted on the other farms. “Possibly, we are going to use Bernard Lodge to test inter-cropping, inter-row, other crops. Crop rotation is also big on the agenda for this farm come next year, because we have repeatedly produced on the same plot of land so we need to rest it,” Richards told the Jamaica Observer. “Because of the size, we can set up a quarter acre trial plot here where the plots are designed in such a way where we have smaller plots within a plot. As opposed to Windsor, the smallest plot is eight acres, so we can’t really do a trial on a plot that large,” he continued.

Red Stripe has also partnered with the input suppliers, St. Jago Farm Supplies, to carry out trials on Bernard Lodge ranging from bio-stimulants, fungicide application, weed and pest management. In January, Red Stripe began cultivating at the Windsor, St. Catherine farm which currently employs 26 people. The farm, which is under a 25-year lease agreement with the SCJ, covers 600 acres of which 62 acres are being cultivated. But Red Stripe wants to increase cultivated acreage to 300 by August. “I believe we are up to 128 who have among them about 1,300 acres of land available but cultivating 560 acres and the plan is to increase that strategically. So it may seem like we are far away from the 40 per cent but rest assured we are still on track,” said Stacy-Ann Williams-Smith, brand and corporate public relations manager. She added that Red Stripe is also moving to expand its cassava starch processing plant, moving production from the current 20,000 tonnes per day to 100,000 tonnes. ¤

www.oecsbusinessfocus.com

Says T&T Outlook Stable

Moodys Says T&T Outlook Stable

capital revenue such as asset sales, which cannot be sustained over an extended period”. “On balance, the country’s rising debt burden is offset by low foreign-currency debt and moderate debt affordability indicators. “The Government has accumulated savings in the heritage and Stabilization Fund of around 27% of GDP, which it has used to help finance the Government deficit, limit the increase in debt and keep interest costs down,” Moody’s said. Moody’s said the country’s susceptibility to event risk is very low because of limited liquidity risk but said foreign exchange shortages and emergence of a parallel market for U.S. currency were indicators of downward pressure on the exchange rate. “External pressures, however, are contained given a robust international reserves position of nine months of imports and an External Vulnerability Indicator of 19%,” the agency added. ¤ Moody’s Investor Services has given the T&T Government a rating of BA 1 with a stable outlook. In a May 10 credit opinion, the rating agency cited “large financial buffers, high wealth levels and significant international reserves.” “Those credit features mitigate credit challenges related to a policy response that has been unable to offset the impact of low energy prices on the Government revenue. A steady rise in Government debt ratio has contributed to an erosion of sovereign creditworthiness,” the agency said. Moody’s said the stable outlook is based on the expectation that capital revenue related to asset sale will help reduce borrowing requirements and lead to relatively stable debt ratios of around 64% of GDP.

Grenada Tourism Authority

T&T could suffer a rating downgrade if limited fiscal consolidation leads to significantly higher deficits. A reduction in assets held in the Heritage and Stabilization Fund would undermine creditworthiness and lead to a downgrade. Economic strength was assessed as low because of the slow pace of growth and the economy’s relatively small size. However, this was partly offset by high income levels. “Growth prospects remain subdued given the sluggish recovery in the non-energy sector, while an increase in gas production and higher prices support activity in the energy sector,” Moody’s said. The score also reflected limited prospects of further economic diversification away from oil. Fiscal strength was rated as moderate because “debt burden and debt affordability indicators do not fully capture the heavy reliance of Government revenue on the energy sector and on

OECSBusinessFocus Jun / Aug

IDB: Single Latin America and Caribbean Free Trade Agreement Would Reap US$11 Billion Windfall

ECONOMY & TRADE

IDB: Single Latin America and Caribbean Free Trade Agreement Would Reap US$11 Billion Windfall The report looks at the trade impacts of a LAC-FTA under various international scenarios. In the prevailing environment, the agreement would produce average gains of 9% for intra-regional trade in intermediate goods used in exports from Latin America and the Caribbean, which would bolster the region’s underdeveloped value chains. Driven mostly by tariff elimination, a LAC-FTA would also increase intraregional trade in all goods by an average 3.5% or an additional US$11.3 billion, based on 2017 flows. The boost to specific exports would range from 1% in mining in the Andean countries to 8% in manufacturing in Mexico and 21% in agriculture in Central America. In a scenario of increasing trade frictions, the report argues that a region-wide agreement could prove to be an effective insurance policy against market losses. “A free trade agreement of this sort could mitigate the negative impacts of global trade frictions on LAC exports by as much as 40%,” added Estevadeordal. Latin America and the Caribbean could add an additional US$11 billion in annual trade flows by blending 33 separate agreements into a single regional free trade bloc, according to a study by the Inter-American Development Bank (IDB). ‘Connecting the Dots: A Road Map for a Better Integration of Latin America and the Caribbean’ charts a course for the region to attain the elusive goal of regional integration, noting that Argentina, Mexico and Brazil would be the key players in any meaningful integration effort. Trade in the region is a complicated patchwork of preferential trade agreements (PTAs), anchored by its two main blocs, the Pacific Alliance and MERCOSUR. The study notes that while these agreements have increased intra-regional trade by 64% on average since their inception, these gains fell well short of what a US$5 trillion market could offer. More worryingly, they have proved inadequate at making the region more competitive internationally. The report offers a roadmap toward maximizing these gains by promoting a path of convergence among the existing PTAs which would eventually lead to a Latin American and Caribbean Free Trade Agreement (LAC-FTA). “Convergence is the way to strengthen the economic relevance of the preferential trade agreements in our region,” said Antoni Estevadeordal, manager of the IDB’s Trade and Integration Sector. “Together, they could help improve the region’s competitiveness abroad, particularly in this increasingly challenging trade environment. Alone, and without a critical mass, these agreements face irrelevancy or even a slow death in the face of major deals already in place in Europe, Asia and North America.”

OECSBusinessFocus

Jun/Aug

The report acknowledges that this type of strategy is likely to be met with skepticism, given the difficulties faced by previous attempts to reach a single, regional free trade deal. It argues, however, that nearly 90 percent of intraregional trade is already duty-free, thus providing a solid platform for building a regional free trade area. Moreover, the region has never been closer to political consensus around the benefits of trade and integration. Drawing on the lessons of more than a quarter of a century of integration initiatives, the report recommends first creating a free trade zone focused on goods and services, with other issues such as labour, intellectual property and the environment to be added later. It should also include a chapter on trade facilitation, which would move beyond mere customs-related measures to include mechanisms that reduce transportation and transaction costs. According to the report, a critical mass of countries would be required to get the integration process moving. Argentina, Brazil and Mexico are uniquely positioned to bring together the region’s largest sub-regional blocs, the Pacific Alliance and MERCOSUR, whose combined US$4.3 trillion market accounts for 81% of the region’s GDP. Governments could opt for a cautious, step-by-step approach that extends cumulation of rules of origin and fills in gaps in relationships where needed. Despite the political advantages of such an approach, the study argues for a more aggressive undertaking, as the complexities of multiple product rules and intraregional PTAs will remain. “If governments in the region are really committed to strengthening both the political and the economic cases for integration,” said IDB trade research specialist and the study’s coordinator, Mauricio Moreira, “time, unfortunately, is not on their side.” ¤

www.oecsbusinessfocus.com

Staying Financially Liquid During Emergencies

Staying Financially Liquid

During Emergencies UNICEF, WFP strengthen region’s cash-based transfer programmes UNICEF and the World Food Programme (WFP) Regional Directors for Latin America and the Caribbean in May signed an agreement to support governments in the region to be better prepared and equipped to use cash transfer programmes to assist their population during emergencies. UNICEF’s Marita Perceval and WFP’s Miguel Barreto signed the agreement in Dominica at the start of a workshop to review the emergency cash-based transfer programme the two agencies supported in the Caribbean country, which was devastated by Hurricane Maria in 2017. In emergencies, transfers – either cash or vouchers – allow affected people to determine and prioritise their own needs and strengthen their autonomy and dignity. Additionally, they stimulate local economies and revitalise markets, thus promoting resilience in affected communities, as seen in Dominica. The three-month programme implemented by the Government of Dominica with the support of the two agencies in the aftermath of the Category 5 hurricane Maria, provided emergency cash transfers to 25,000 affected people, including 6,000 children. Payments helped families meet their basic needs, including food, clothes, hygiene items, school supplies and reconstruction materials.

“Emergency cash helped vulnerable Dominicans who had lost so much get back on their feet again. The cash was a lifeline for affected people but it also allowed them to regain priceless strength and hope,” Barreto said. “We know these programmes work and can be used effectively by Governments, with our joint UN support, to prepare for and respond to future emergencies.” UNICEF’s Perceval said: “When we take care of a child in an emergency, we are not only giving immediate protection, we are making sure that she can develop to her full potential. Dominica’s pioneering experience using cash transfers as a response to emergency breaks the barrier between humanitarian and development work, and is a testament to what the collaboration of UNICEF and WFP, under the Dominica’s government leadership, can accomplish for the region.” The two regional agencies agreed to collaborate in preparing feasibility assessments to determine if a cash-based response is useful in a given country or context, and co-financing cash-based transfer programmes. Both agencies will develop and/or strengthen key programme tools to implement cash-based transfer programmes in an emergency context; programme implementation and capacity strengthening of government partners; as well as monitoring and evaluation. ¤

OECSBusinessFocus Jun / Aug

ECONOMY & TRADE

KPMG Releases 2018 Barbados Calls in the Caribbean Hospitality IMF to Manage Debt Crisis Financing Survey KPMG Releases 2018 Caribbean Hospitality Financing Survey

KPMG released its 14th annual Caribbean Hospitality Financing Survey in May, which highlights financing trends in the region’s hospitality and tourism industry and the outlook for the future of the industry. The survey has been designed to provide banks, non-banks and financiers with a better understanding of the profile and recovery performance within the Caribbean region.

Barbados Calls in the IMF to Manage Debt Crisis

The major event since KPMG’s last survey was the catastrophic hurricane season last year which had a devastating impact on many countries in the region. It was, therefore, with some trepidation, that the professional service company approached financiers of tourism projects in the region. KPMG said it was pleasantly surprised, and relieved, to find remarkably high levels of confidence in Caribbean tourism amongst financiers. Confidence levels for banks increased for an astonishing ninth year in a row and the confidence levels of non-banks (private equity, family offices, etc.) were even higher. However, lessons have been learned, prompting financiers to scrutinize insurance coverage and quality of construction more intensely than they did prior to Irma and Maria. Some of the key findings of the survey include: • Confidence levels of banks and non-banks have increased despite the impact of hurricanes; • Financiers’ appetite for issuing senior debt not just for expansions and renovations but acquisitions; • The quality of construction will receive more attention and adherence to codes of construction will be non-negotiable; • An increasing number of financiers are willing to consider new builds; • Half of the banks and 57% of non-banks think the economy is approaching the peak; • The issue of insurance, the adequacy of coverage and the approach taken by insurers received a lot of attention; and • The critical issues impacting financing activity in the region. “It’s a positive sign to see financiers are willing to lend funds to assist the Caribbean with recovery,” said Christopher Brome, Partner, Advisory of KPMG in Barbados and the Eastern Caribbean. “Although cautious due to concerns surrounding adequate insurance coverage and the need for construction reform, it’s encouraging to see their confidence levels are high.” With tourism being a major industry in the region, financing becomes necessary as a push for expanding the tourism plant to meet the growing demands comes vis-à-vis the precarious nature of the region to catastrophic storms. For instance, several countries in the region, including Dominica, suffered severe damages to their national infrastructure during last year’s Atlantic hurricane season. ¤ OECSBusinessFocus

Jun/Aug

Barbados must prepare for a long and painful journey back to financial and economic health, after announcing a radical plan to tackle the fourth-biggest debt burden in the world, according to Prime Minister Mia Mottley. The island is still reeling from the Prime Minister’s revelation on Friday June 1 that it had discovered previously undisclosed financial liabilities, which lifted the country’s overall debt from 137 percent of gross domestic product to more than 175 percent. This is the fourth-highest debt-to-GDP ratio in the world after Japan, Greece and Sudan. Given the precarious fiscal situation, the central bank’s reserves are down to just $220m, or seven weeks worth of imports. With looming debt payments due for payment and the upcoming hurricane season, Prime Minister Mottley said she had no choice by calling in the International Monetary Fund and putting in place a debt restructuring programme for the island. “We needed to stabilise the country and stop the bleeding,” the new prime minister said in her first interview with international media. Ms. Mia Mottley, a lawyer, became Barbados’ first female Prime Minister with a landslide victory when her Barbados Labour Party won all 30 seats in recently held general elections. Barbados is the latest Caribbean country to face a major financial debt crisis which has been a long time coming. Barbados was long one of the better-run countries in the region, helping its GDP per capita grow to about $17,000 in 2016. But fiscal discipline started eroding after the global financial crisis when the economy was hit hard by the resulting tourism drought. (Financial Times) ¤ www.oecsbusinessfocus.com

Cemex Supports Caribbean Cement with US$102 Million Loan For Asset Purchase dated April 27. The remainder, if any, will be used for general corporate purposes, according to Caribbean Cement in a market filing.

Cemex Supports Caribbean Cement with US$102 Million Loan For Asset Purchase

Caribbean Cement Company Limited Operations at Rockfort, Kingston, Jamaica. Caribbean Cement Company Limited signed two loan agreements in late May valued at US$102 million for the repurchase of assets on its grounds at Rockfort in Kingston. The loans from Cemex, the group parent company allows for the unwinding of Caribbean Cement’s obligations to its immediate parent, Trinidad Cement Limited, and shifts its indebtedness to the Mexican construction powerhouse, Cemex. The loans will mainly pay for the acquisition of Kiln 5 and Mill 5, as initially laid out in an equipment sale and purchase agreement

The two loans were signed on May 28 with Cemex Espana, a subsidiary of Cemex SAB de CV. Cemex is majority owner of both Trinidad Cement and Caribbean Cement. The first loan agreement of US$50 million is repayable in seven years and bears interest at an annual rate of 7.25%. The second is a revolving loan agreement for US$52 million, priced at a variable rate of LIBOR plus 4.2%. That loan also matures in seven years. Caribbean Cement financials up to March show no long-term loans on its books. However, it holds $5.07 billion in preference shares. The company already reported a $1.3 billion payment towards the acquisition of the assets in the March quarter. The deal terminates an operating lease agreement originally dated July 2, 2010, and returns US$118 million of assets to the Jamaica-based operation, based on its disclosures in March. It also includes redemption of about 52 million preference shares issued by Caribbean Cement to Trinidad valued at US$40.5 million. The prefs will be repaid over nine years. ¤

St. Kitts Passports Sales to Impact More Communities

St. Kitts Passports Sales to Impact More Communities The Keith Mitchell-led New National Party (NNP) government has signaled its intention to use more of the monies from the programme of selling passports that ended up in a Transformation Fund to further develop the country. Minister of Foreign Affairs and Labour, Peter David, told reporters that the intention of government is to allow monies from the passport-selling scheme known as Citizenship By Investment (CBI) to impact more on people’s lives in communities. David said government was reviewing the effectiveness of the fund so that in the upcoming five years more and more areas can be targeted for positive impact. Pointing specifically at Youth Empowerment Programmes and other Skilled Programmes that are aimed at empowering young people especially in skills training, David said the plan is to focus on action plan for collaboration with the Ministry of Education to focus on training young people in particular skills. According to David, the establishing of small businesses will be one of the areas the Transformation Fund will be targeting as a means of promoting entrepreneurship in the country.

and find the job but they need to go create jobs but we can’t say that to them unless we create an environment where they can establish their own business. “So, the CBI programme, I believe, can be transformative in its impact that we are going to use it to help develop small businesses. We know that all of the banks are quite rigorous in their lending procedures and young people who have no history of business are finding it difficult to establish businesses.” The Minister said the Transformation Fund of the CBI Programme is a good place to do it and the government is currently reviewing the fund to ensure that more resources are placed in small business development,” he said. David also identified community health as another area that will be targeted under the fund by the Mitchell-led administration. He stressed that over the years the CBI Programme has been doing quite well financially but with government committed to making a greater effort to have it serve the wider community, a consultant will be engaged to help tighten its operation. ¤

He told reporters: “I have said time and time again that we have to teach our young people that they not only need to go out OECSBusinessFocus Jun / Aug

TOURISM FOCUS

CTO and CDB Partner to Double the Number of Hospitality Assured Certified Businesses

CTO and CDB

Partner to Double the Number of Hospitality Assured Certified Businesses CDB Approves US$233,000 to Support HA Certification Programme The Caribbean Tourism Organization (CTO) is looking to double the number of businesses recognised as Hospitality Assured (HA), the certification programme that promotes business and service excellence. At present, 33 of the 80 tourism and hospitality businesses involved in the programme have been certified as Hospitality Assured, according to Sharon Banfield-Bovell, the regional human resource development consultant with the CTO. Banfield-Bovell and Janice SmithKipps, an experienced HA assessor and trainer of HA assessors, recently conducted a regional HA programme assessor training workshop at the Ocean Terrace Inn in St. Kitts and Nevis. “The aim is to raise the number of certified business this year by 30,” Ms. BanfieldBovell said. The assessor training workshop, the third of its kind, is being funded by the Caribbean Development Bank (CDB), which has approved over USD$223,000 in support of the HA (Caribbean) certification programme, and which, through its Caribbean Technological Consultancy Services (CTCS) Network, has been promoting the HA programme as a key means to support the development of OECSBusinessFocus

Jun/Aug

tourism quality, business excellence and customer service delivery in micro, small and medium-sized enterprises (MSMEs), especially owner-managed businesses in the tourism sector.

competitiveness of MSMEs in the tourism sector, which plays an integral role in the social and economic development of a number of CDB Borrowing Member Countries”.

“The CDB’s injection of funding support will allow for 30 micro, small or medium tourism enterprises in specific CDB borrowing member countries - Belize, Guyana, Jamaica, St. Kitts and Nevis, Saint Lucia, and St. Vincent and The Grenadines - to participate in the HA certification programme and to achieve one of our strategic goals of strengthening the business performance and overall competitiveness of the tourism sector in the Caribbean,” Ms. Banfield-Bovell stressed.

Twenty-one participants from 13 CTO member countries – Antigua and Barbuda, The Bahamas, Belize, the British Virgin Islands, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, and Turks and Caicos Islands - participated in the five-day workshop, which was aimed at providing the necessary training to equip participants with the knowledge and performance requirements of HA assessors.

The project will come to an end in June this year and the CTO is encouraging tourism businesses to get onboard and fill the remaining 18 available spaces and seek to put in place an effective service quality management system, with the support of the programme’s key personnel, the business advisors and assessors. At the opening of the St. Kitts workshop, Michel Thomas, the CDB’s operations officer, noted: “CDB fully supports the programme, as the Bank recognises the importance of enhancing the

Hospitality Assured is a service quality management certification owned by the Institute of Hospitality in the United Kingdom, managed and operated by the Hospitality Limited, U.K. and developed specifically for the tourism sector, to promote and reward the highest levels of service and business excellence. Hospitality Assured in the Caribbean is managed and promoted by the CTO. Any hospitality, leisure, tourism or serviceoriented organization is eligible for Hospitality Assured certification, be they large or small, single or multi-operational. ¤ www.oecsbusinessfocus.com

Copa Airlines to Expand Service to Trinidad and the Caribbean

Copa Airlines to Expand Service to Trinidad and the Caribbean By Carla Bridglal

Trinidad has been good to Copa Airways over the last decade. The “Airline of the Americas,” based out of Tocumen Airport, on the outskirts of Panama City started servicing the Trinidad-Panama route ten years ago, and, as the Airline’s Vice President for Sales Christophe Didier describes it, the relationship has been “winwin.” So much so, that by the end of the year the airline is hoping to bring its schedule from 12 flights a week to 14. Didier admitted the recession in Trinidad & Tobago has been of concern for the Airline, but latest statistics suggest a rebound, and the Airline is happy to grow in this market — especially since flights are usually well-booked. “We have to travel in economy on our way back because there’s no space in Business Class,” Didier quipped, referring to himself and Regional Sales Manager for the Caribbean and Central America, Bernardo Ordas who are both based in Panama. Copa will also be launching a new route in Barbados this year, so the Caribbean is seen as a market with potential for growth. “We want to develop new products for people in the region, allowing them to enjoy new destinations. Not many people from Trinidad travel to South America, because there aren’t as many natural ties to the continent as say, the US or Canada or the UK. Copa is here to forge these partnerships,” Didier said. For the last few years the company has held up on its plans for expansion based on the economies in its various routes. Now that they are comfortable, they plan to bring back up their purchase orders with aircraft manufacturer, Boeing. The Copa fleet currently has 100 planes; by the end of the year the aim is to increase that to 105 or 106. The Airline is a single-hub Airline, so all flights connect through Panama —and from Panama, to everywhere in the Americas. Copa flies to 75 destinations, including all major cities in Latin

America and North America, and some of the most popular tourist destinations in the Caribbean. “We want to connect people, economies, friends and leisure,” Didier said. Tobago is not, however, for the time being, on its list of new destinations. “It’s a risky destination,” Didier said, because it’s not one of the top spots for Latin American tourists, and it would need significant marketing to build the island. In addition to Trinidad, in the Caribbean the Airline flies to Guyana, Aruba, Curacao, Kingston and Montego Bay in Jamaica, Puerto Rico, Dominican Republic, Haiti and Cuba, as well as most major Caribbean cities on the mainland of Central and South America. The Airline is also one of the few to still give its customers perks which many of its competitors have cut — including free food and drinks on all flights, and the first checked bag is free. “We are also the best performing Airline in the Americas in terms of being on time, and we are nice people,” Didier said, on what makes the Airline stand out competitively. And while safety and security are paramount, the Airline works religiously to cut all extraneous costs without compromising on the customer experience. “You can still offer good product with lower cost. What’s important is what the customer sees, so you eliminate all the costs the customer can’t see — except security and safety, of course. So, you have to really work every day. “I had a boss who told me costs are like nails: you have to cut them, or they keep growing. You have to have initiatives to cut costs every day but don’t do this to affect customers. That’s our basic. We don’t serve lobster or caviar, but a good rum or wine — the basics. And most of the time the customer is happy,” Didier said. ¤ OECSBusinessFocus Jun / Aug

Sandals Expands in Saint Lucia

TOURISM FOCUS

Prime Minister Allen M. Chastanet, Minster of Tourism Dominic Fedee and Sandals Officials turn the sod at the ground breaking ceremony.

Sandals Expands in SAINT LUCIA By Stan Bishop

Breaks Ground On US$275 million Sandals LaSource St. Lucia In early May, Sandals Resorts International (SRI) reaffirmed its commitment to the Saint Lucian tourism sector when it held a sod turning ceremony for its newest hotel on the island.

appointed departure lounge with lockers and showers so guests may take full advantage of the resort up until the moment they must depart.

When completed in two years’ time, the new six-star property -dubbed Sandals LaSource St. Lucia -- will be the fourth in Sandals’ Saint Lucia portfolio and is estimated to cost around US$275 million to construct. SRI’s Senior Project Manager, Mark Harding, expects the ribbon-cutting ceremony to the new hotel to take place by December 2020.

During the construction phase, close to 1,200 people will be employed, while over 900 employees are expected to be hired when Sandals La Source opens its doors for business.

Sandals LaSource St. Lucia, tipped to be the chain’s most luxurious property in Saint Lucia, will offer 350 guest rooms and suites, including Sandals’ Skypool, Rondoval, and Swim-Up suites, other signature categories as well as the recently-introduced and muchacclaimed Over-the-Water Bungalows. Additionally, the resort will feature ten restaurants, including three new concepts, but guests will actually have the choice of 37 dining options through Sandals Resorts’ “Stay at One, Play at Four” exchange programme. Other amenities will include an expansive Red Lane Spa®, wedding lounge, beauty salon and wellOECSBusinessFocus

Jun/Aug

Sandals currently has three properties in Saint Lucia, which have earned many international accolades for their collective performances. It also has properties in Jamaica, The Bahamas, Barbados, Grenada, Turks and Caicos, and Antigua and Barbuda. The hotel chain acquired the 18-hole championship course, Saint Lucia Golf & Country Club at Cap Estate in 2017. With Sandals LaSource St. Lucia joining the fray soon, the hotel chain is not only celebrating a major milestone but also positioning itself as an even more formidable player in the global tourism sector. “The timing could not be more relevant,” Managing Director of Sandals Saint Lucia, Winston Anderson, said of the groundbreaking ceremony. “It is at this very time that we are marking 25 years here in Saint Lucia. So it’s only appropriate that as we celebrate www.oecsbusinessfocus.com

our past, we reaffirm our commitment to the future in Saint Lucia. It has been a tremendous and successful partnership which has seen Saint Lucia become our key investment outside of Jamaica.” Anderson said Sandals’ economic footprint amounts to over US$75 million -- or roughly EC$200 million -- in payroll and direct contributions to the local economy. He estimates that that figure should top US$100 million when Sandals La Source becomes operational. He also gave Sandals’ assurance that citizens and stakeholders in Saint Lucia will continue to have the company’s unwavering support.

Sagicor Group Jamaica Closes J$39 Billion

Sagicor Group Jamaica Closes J$39 Billion Deal with Playa Hotels and Resorts Deal with Playa Hotels and Resorts

Financial services conglomerate, Sagicor Group Jamaica announced on June 4 that it has closed the deal with NASDAQlisted Playa Hotels & Resorts N.V., to combine their tourism assets.

“We’re the largest employer in the sector and we’re very proud of the fact that of the over 1,800 team members here, over 98% of them are Saint Lucians. This does not include the number of other Saint Lucians (who) are in all the other resorts throughout the Caribbean.” Meanwhile, Sandals’ Director of Corporate Services, Jeremy Jones, said the new property will be built using some of the newest construction methods to help mitigate against natural disasters such as hurricanes and earthquakes. Jones said the multiplier effect and linkages of the new property, especially in the agricultural sector, are key factors that augur well for the local economy, adding that Sandals will continue to diversify and enhance its product to suit the various tastes of the traveling public. The positive spin-offs, he said, will have a meaningful impact on the island’s overall tourism product.

Christopher Zaccat CEO of Sagicor Group Jamaica

Sagicor disclosed that having met all contractual requirements, the approximately J$39 billion transaction with Playa is now complete.

Arising from the deal, Sagicor Group is expected to benefit from an expanded presence in resort markets in Mexico, the Dominican Republic and Jamaica as well as being invested in a listed entity on the NASDAQ.

Sandals LaSource St. Lucia will be built on 19 acres of land between Sandals Grande St. Lucian Spa & Beach Resort and The Landings Resort & Spa on Pigeon Island Causeway. It has also received the blessings of Minister for Tourism, Dominic Fedee, who said the latest move by the Sandals chain was “flattering not only to the Government but to the people of the country” and that “it is a very profound way of demonstrating your sheer confidence in Saint Lucia as a destination.”

Playa owns and/or manages a total portfolio consisting of 20 resorts (7,769 rooms) located in Mexico, Jamaica and the Dominican Republic. In Jamaica, the resort group now owns and manages Hyatt Zilara Rose Hall and Hyatt Ziva Rose Hall, Hilton Resort & Spa Rose Hall, Jewel Dunn’s River Beach Resort, Jewel Grande Montego Bay, Jewel Runaway Bay Beach & Golf Resort and Jewel Paradise Cove Beach Resort.

Fedee also believes that with high unemployment especially among the youth demographic presenting many challenges to the socio-economic development of the country, Sandals LaSource St. Lucia will serve to ameliorate that situation.

Sagicor said that in keeping with the terms of the transaction, Jewel Resorts and Hilton Rose Hall Resort and Spa employees will be placed on new employment contracts with Playa effective June 1.

Prime Minister Allen Chastanet expressed gratitude to Stewart for extending his confidence in the island. In a region where competition for foreign direct investment is the order of the day, Chastanet said landing such investments is no easy feat.

In a release announcing the close of the deal, Sagicor said a series of consultative meetings were held with Playa representatives prior to the redundancy exercise and that plans for the future were outlined to staff during the initial stages of the transition.

“US$275 million is not any easy amount of money to raise in today’s market -- but he has done it,” Chastanet said of Stewart. “He is taking his money and investing it here in Saint Lucia and doing it with the greatest amount of confidence because he knows what the people of Saint Lucia can do.” Chastanet said that when completed, Sandals LaSource St. Lucia will result in attracting 36,000 new guests coming to the destination, representing a 10% increase in the number of arrivals to Saint Lucia. He also said the new property increases Saint Lucia’s attractiveness on the global scene. Last year, the hotel chain opened Sandals Royal Barbados and welcomed its first guests on December 20. Also, following a twomonth refurbishment phase, Sandals Grand Antigua reopened. In Jamaica, too, the Sandals South Coast opened 12 over-water bungalows, complete with 24/7 butler service. ¤

President and CEO of Sagicor Group Jamaica, Christopher Zacca, said the combination of assets “will ultimately see tremendous expansion in Jamaica’s tourism industry. Playa is expected to invest over US$200 million to build 760 additional rooms in Jamaica over the next three years.” Chairman of Sagicor Real Estate X Fund and Sagicor Group Jamaica, Richard Byles, “welcome the closing of this significant deal with Playa” and used the opportunity “to pay tribute to the management team and staff that contributed to the growth of the Jewel and Hilton brands within the hospitality industry in Jamaica.” Sagicor Group Jamaica offers products and services in the areas of banking, insurance, investments, real estate, asset management and retirement planning and operates in over 20 countries. ¤ OECSBusinessFocus

Jun / Aug

BUSINESS FOCUS

interCaribbean Airways: Where It All Began!

interCaribbean Airways: Where it all began!

yndon Gardiner began the journey to build his brand over a quarter of a century ago, learning many lessons and overcoming innumerable challenges along the way. Today, he is chairman of interCaribbean Airways, the largest privately owned airline in the Caribbean. He credits much of his success to his family and hardworking employees.

Growing up in the small town of Bottle Creek, North Caicos, in the Turks & Caicos Islands, Lyndon was the fourth of six children, raised by a single mother after his father migrated to the UK when he was merely 3 years old. His mother was a strong role model instilling great values in him and his siblings. Despite the hardships, she shielded her children from the negative influences of the world, working assiduously to protect and provide for them as best she could. As a child growing up in hard times, Lyndon looked up to his oldest brother, who was charged with caring for the younger children while his indomitable mother worked three different jobs in order to support the family. In spite of the challenges, his life was filled with warmth and love from this determined and nurturing woman who always put her children first, while his brother provided guidance and advice until his untimely death in 2007. His passing devastated Lyndon, who struggled to overcome his grief while leading his company through the acquisition of its competitor, a move that squarely established the airline and Lyndon Gardiner as a serious player in the region. After graduating high school, Lyndon had his first significant success by winning a much sought after junior position with the prestigious Barclays Bank. Lyndon managed his time and money responsibly, saving his wages towards a future he had not yet identified, but would, sooner than he imagined. From Banking to Aviation! Lyndon had a love affair â&#x20AC;&#x201C; not with the industry that eventually became his passion, but with his future wife, who was pursuing studies in Santo Domingo. Traveling frequently to the Dominican Republic, Lyndon was often frustrated by the limited flights, which severely restricted his courting! Led by his heart, he got a small loan from the bank and purchased a tiny aircraft which was OECSBusinessFocus

Jun/Aug

capable of making the trip to Santo Domingo. At 23, still content a private recreational pilot, now married, he was approached by a friend to take him up on an aerial sightseeing trip to photograph boats leaving the marina for a Bill fishing tournament, with the understanding that the fuel costs would be shared. Upon returning to the ground, he was offered $500 for less than an hour of flying. At that point, a lightbulb lit up in his head - since he made merely a thousand dollars for a monthâ&#x20AC;&#x2122;s work at the bank, why not fly charters full time and maximize his earning potential? He immediately saw the potential of a Charter operation, and quickly did the requisite courses to allow him to conduct flights between the islands in the Turks and Caicos. This decision however, was not taken lightly. His then manager cautioned him about the risks associated and even informed him that his old job would be there (at least for another week) should he reconsider. However, this only fueled his determination and with only one small plane, he conducted the charters himself, steadily growing from strength to strength. Only a few years later - on February 6th, 1992 the the growing business was certificated as an airline with the operating name of Kerrmount InterIsland Airways . Kerrmount was the name of the tiny settlement on North Caicos where Lyndon grew up and his mother and brother still lived. Starting with a single plane twenty-six years ago, the airline now has a fleet of over 20 aircraft and services a current network of 22 cities around the Caribbean region, more destinations than any other airline flying to or within the Caribbean. As Chairman of what is now interCaribbean Airways, Lyndon attributes his successes to his upbringing, conjuring advice from his childhood when his mother would encourage him to always make a way to overcome any challenge through perseverance. Failure was just not an option. The company management places a lot of stock in the next generation and frequently gives talks at various local schools, conducts open houses and provides free career advice to school graduates. Drawing from the aspirations, motivation and determination of the founder, future entrepreneurs are urged to never give up. Resiliency, cautions Lyndon, is a critical requirement for success. He advises young people never to dwell on obstacles, but, rather focus on ways to overcome them and ultimately achieve their goals. Â¤ www.oecsbusinessfocus.com

Bay Gardens Resorts Acquires Fourth Property in St. Lucia

Grenada’s Spice Island Beach Resort Bestowed Prestigious Six Star Diamond Award for 5th Year Grenada’s Spice Island Beach Resort Bestowed The Six Star DiamondPrestigious Award is the most prestigious honor of true Six Star Diamond Award for 5thexcellence Year in service, hospitality, gastronomy, attitude, quality

and cleanliness. The American Academy of Hospitality Sciences specializes in reviewing hotels, resorts, spas, airlines, cruise lines, automobiles, products, restaurants and chefs, and is most notably known for its Six Star Diamond Award.

“We are extremely proud to be honored for the past five years with the Six Star Diamond recognition as it is a direct reflection our commitment to upholding service levels that transcend guests’ expectations,” said Sir Royston. “For over 30 years we have worked to perfect our guest experience. Awards strengthen our belief in our service-oriented philosophy,” added Sir Royston.

The Spice Island Beach Resort family led by Sir Royston Hopkin KCMG, Chairman and Managing Director, pictured with the Six Star Diamond Award Accolades continue for Grenada’s premier all-inclusive luxury Spice Island Beach Resort (www.SpiceIslandBeachResort.com) as the family-owned and operated property was honored for the fifth consecutive year with the prestigious Six Star Diamond Award by the American Academy of Hospitality Sciences (AAHS).

AAHS receives a large number of possible recipients for the award from respectable sources around the world. The selection is then refined by the Board of Trustees and the final evaluation is a visit by an anonymous inspector to review the destination and its services. The presentation of the AAHS Six Star Diamond Award follows the resort’s receipt of the AAA Five Diamond Award for the second consecutive year in March. ¤

Bay Gardens Resorts acquires fourth property in St. Lucia training to align service delivery at the property with Bay Gardens’ award-winning standards. Located in St. Lucia’s Rodney Bay area, Bay Gardens Resorts currently consists of three Green Globe-certified hotels: Bay Gardens Inn, Bay Gardens Hotel and Bay Gardens Beach Resort & Spa.

Bay Gardens Marina Haven will open this summer in St. Lucia. Bay Gardens Resorts has expanded its portfolio to four hotels in St. Lucia. Executive Director of Bay Gardens Resorts, Sanovnik Destang, announced the acquisition of the 35-room Palm Haven Hotel in June, adding that it would be renamed Bay Gardens Marina Haven. “The hotel is in an incredible location,” Destang said. “It’s now our closest hotel to the Rodney Bay Marina, which is an exceptional facility for yachties as well as those looking to take advantage of numerous activities in the marina, from restaurants and bars to shopping.” The newest addition to the Bay Gardens family of hotels will re-open in mid-July after undergoing a soft renovation and staff

“There will be no reduction in staffing levels for Bay Gardens Marina Haven -- either during the period of renovation or upon its anticipated reopening in July,” Destang assured. The hotel is within a five-minute drive of Bay Gardens Inn and Bay Gardens Hotel and 10 minutes from the Beach Resort. Marina Haven guests will enjoy the full benefits of a Bay Gardens experience, including six complimentary one-hour passes to Splash Island Water Park, the use of beach chairs, the ability to charge consumption across properties to their rooms, and free non-motorized water sports. Complimentary shuttle service will be provided between all Bay Gardens Resorts facilities. Bay Gardens Resorts is a group of locally-owned and operated award-winning hotels all located within, or near, Rodney Bay Village, St. Lucia’s entertainment capital. All four of Bay Gardens Resorts’ properties are close to more than 40 restaurants, entertainment venues, duty-free shopping malls, Treasure Bay Casino and the Rodney Bay Marina. Bay Gardens’ Splash Island Water Park, the first open water sports park in the nation, is a popular attraction on St. Lucia’s Reduit Beach. ¤ OECSBusinessFocus Jun / Aug

ENVIRONMENTAL FOCUS

Disaster Preparedness HOW INSURED ARE YOU? The St. Lucia Chamber of Commerce, Industry and Agriculture hosted a symposium in May to sensitize the private sector and homeowners about the need for having the right kind of insurance policy should disaster strike. Disaster Preparedness The one-day symposium was open to small, medium and large businesses as well as homeowners and was held at the Finance Administrative Centre at Pointe Seraphine. One of the event’s promoters, NAGICO’s Corporate Services Administrator, Vicky Forde, said that quite often businesses and homeowners are left out in the cold due to being underinsured. She noted that among the aims of the symposium was to find out what kinds of coverage businesses need and how those needs can be met. The symposium brought the industry partners together to share information on how businesses should approach insurance to be part of the mitigating plan. The Chamber of Commerce partnered with various agencies to plan the symposium, including the Insurance Council of St. Lucia, Saint Lucia Hotel and Tourism Association, NAGICO Insurances, Sagicor Life Inc., Massy United Insurance, Grace Kennedy Foods, and Bank of Saint Lucia. Close to 60 people, many from the insurance sector, rather than business owners and operators, attended the event and there was great level of engagement and sharing of useful information with practical tips and insights. Presenters included President of the Insurance Council of Saint Lucia, Claudius Francis, and Leathon Khan. Recommendations were made for the Government of Saint Lucia to actively encourage and support the public and businesses to take insurance to help mitigate risks and make recovery easier after a disaster. Also, the Chamber was encouraged to continue its programme of hosting workshops in Business Continuity and Risk Management and Assessment. The Chamber’s Executive Director, Brian Louisy, said that given the disastrous effects of last year’s Atlantic hurricane season, businesses and homeowners should not take adequate preparedness and insurance coverage lightly. “It’s not just about insurance, but about business continuity planning, disaster preparedness and how our members in the business community prepare for a future that is so uncertain,” Louisy said. “We saw last year how natural disasters such as super storms can devastate economies. We saw what happened in Barbuda, Saint Martin, Dominica and the British Virgin Islands.”

OECSBusinessFocus

Jun/Aug

By Stan Bishop

Six Category 3 to 5 hurricanes passed through the region last year, with ten Caribbean countries -- including five OECS member states -- being hit directly by the most catastrophic of these hurricanes. How Insured Are You In Dominica, estimated damages and losses from Hurricane Maria last September amounted to US$1.3 billion, or roughly 200% of that small country’s Gross Domestic Product (GDP). Twenty-nine people were killed. Ninety-five percent of the buildings there were either destroyed or damaged by the Category 5 storm. In Barbuda, all of the 1,400 people there had to be evacuated when Hurricane Irma battered the island with winds of up to 185 miles per hour. An estimated 90% of properties there were damaged and a two-year-old boy died. While Saint Lucia was largely spared last year, fears are that the island might receive at least one direct hit during this year’s hurricane season -- that is, if the conventional wisdom of the storms visiting territories on a case by case basis holds true. Nevertheless, Saint Lucia has had its fair share of natural disasters. On September 10, 1994, Tropical Storm Debby made landfall in Saint Lucia bearing down heavy rainfall and tropical storm-force wind gusts. Half of the island’s banana industry was damaged and the rains resulted in flooding and landslides. Damages were estimated at US$103 million. Sixteen years later, in October 2010, Hurricane Tomas ripped through Saint Lucia damaging roads and banana plantations and fourteen people were killed. To this day, visible signs of Hurricane Tomas remain across the island, even as a massive reconstruction effort was embarked on immediately following the hurricane’s passage. According to Louisy, citizens need to have a better understanding of the risks that apply to their assets and life, such as having a disaster preparedness plan, where to store valuable information and what considerations are being made when building a home or business. He said that during the Chamber’s Annual General Meeting last year, disaster preparedness was among the topics discussed. He said many companies still lag behind as far as having enough insurance coverage. Moreover, he indicated that only 20% of the housing stock in Saint Lucia was insured; however, 80% of those insured are under-insured. With natural disasters becoming more frequent and increasingly volatile -- plus the risks associated with cybercrime and other militating factors -- Louisy believes that no amount of preparation and coverage is too much. ¤

www.oecsbusinessfocus.com

Putting The Wrap On Plastics and Styrofoam

Putting The Wrap On Plastics and Styrofoam By Stan Bishop

Castries Constituency Council Launches Plastic Collection Project The Castries Constituency Council (CCC), on May 10, launched its Plastic Collection Project, which it hopes will inspire people to work together for a better image of the city and be more environmentally-conscious. According to Castries Mayor, Peterson Francis, the Clean City Campaign forms part of a broader national campaign aimed at making Castries one of the cleanest and greenest cities in the region by addressing the problem of inconsiderate littering. Garbage bags will be made available from Monday to Friday from 8:00 a.m. to 4:00 p.m. at the City Police Department. Members of the public can visit the Department, pick up a bag and fill it solely with plastics and Styrofoam: plastic bottles and cups and Styrofoam cups and plates. Filled bags can be returned to the CCC where a card redeemable for $5.00 will be given to the person presenting each bag. The bags will then be deposited at the Deglos landfill. Francis said the CCC is looking towards recycling those plastics for shipment abroad. This is definitely a step in the positive direction as over the years one of the hindrances to achieving that goal was deemed to be the infeasibility of investing in specialized machinery to recycle plastics in Saint Lucia. The project has been hailed as a bold move by the CCC, which has been criticized over the years for not formulating a comprehensive plan to arrest the high level of littering in the city. While central government has for nearly a decade now promised to introduce a measure in Parliament to allow for a refund on empty plastic bottles, nothing concrete has been achieved in that regard. Styrofoam and plastics, used mainly in the food and beverage industry as containers, take as much as 500 years to bio-degrade. The negative effects of dumping them along the city’s byways are

part of the national lore. For starters, these non-biodegradable items often end up blocking the city’s waterways, presenting a grave danger to marine life and projecting an unsightly image for a city boasted as having an enviable beauty across the region. Also, the city’s drainage system becomes clogged, thereby creating the perfect scenario for flooding, especially during a major hurricane or tropical storm. Ever since the #1.5ToStayAlive movement gained ground in 2015 – spurred by the climate change talks leading up to and following the landmark climate change deal brokered in Paris that year – Saint Lucia has reiterated its commitment to reducing on its carbon footprint. Mayor Francis believes that realizing that goal is everyone’s job. “We need to shoulder our responsibility and make the city of Castries a cleaner and more beautiful place,” he said at the launch of the project. “We will and must support sustainable, promising innovations wherever we can. I don’t have to convince this audience that plastics don’t belong on our streets, in our drains, or in our oceans. So for us preventing pollution in the first place is an even better option.” In March 2016, the government of Guyana declared that as of April 1 that year the importation of Styrofoam into Guyana would cease. Further, the Ministry of Finance in the South American nation was considering offering tax incentives to importers who considered importing alternatives. In January that same year, Antigua & Barbuda placed a ban on the importation of plastic bags – except for those used in garbage collection and disposal. The government also said it was willing to waive duties and other taxes to assist private sector companies that chose to import and use alternatives. ¤ OECSBusinessFocus Jun / Aug

ENVIRONMENTAL FOCUS

Lesser Fussing Over Fossil Fuel

LESSER Fussing Over Fossil Fuel

By Stan Bishop

Moving Towards Renewable Energy Sources Globally, the push towards renewable energy and a lessening dependence on fossil fuels has been fueling a continuous and vociferous debate. But there is no denying that a heavy reliance on fossil fuel to feed the global economy’s energy needs is fading fast.

Leon said citizens should learn from the experiences of the volatile mid- to late-2000s when consumers experienced spikes in crude oil prices that hit US$140 per barrel. That phenomenon resulted in higher prices for consumer goods and services, forcing government to lessen the economy’s reliance on fossil fuel.

With changing dynamics in geopolitics and the ever-present danger of air pollution threatening the stability of the globe and crude oil prices, renewable energy seems the best alternative. In Saint Lucia and other OECS countries, that reality is quickly setting in, and countries are reacting.

For years now, government has been conducting an awareness campaign to educate people on what is available and how they can help reduce the reliance on fossil fuel. From a government perspective, Leon said it is more about energy security and energy independence than reducing the nation’s carbon footprint.

So serious is Saint Lucia about pursuing renewable energy that the Department of Sustainable Energy hosts an annual Energy Week exhibition in November where local companies showcase their goods and services aimed at reducing the country’s carbon footprint.

Presently, Saint Lucians benefit from duty-free concessions on renewable energy products, including special concessions on energy-efficient vehicles. For example, the importation of a hybrid vehicle attracts a 10% import duty instead of the normal 35%.

Inaugurated in 2014, the event was prompted by government’s realization on the critical role of the private sector in any transition into a sustainable energy future. The most recent exhibition was held last year under the appropriate theme, “Rethinking Energy: Shaping A Resilient Community”.

Acting Energy Officer in the Renewable Energy Division of the Department of Sustainable Development, Charlene Bodley, said Government decided to create the activity that would bring together the private sector and allow them to showcase what is offered in terms of renewable energy and energy efficiency, technologies and services.

Permanent Secretary in the Department of Sustainable Development, Valerie Leon, said government’s target of 35% dependence on renewable energy by the year 2025 and 50% by the year 2030 is ambitious and will be achieved via a mix of solar, geothermal and wind energy.

“A lot of people are not in the know,” she said. “People are not aware about how they can reduce on their electricity bill by installing solar photo-voltaic (PV). So these companies offer products, advice and services available on the island that can reduce their electricity bill significantly.”

“It’s all part of our National Energy Transitions Strategy (NETS),” she said at last year’s exhibition. “We are trying to feed two birds simultaneously: reducing our dependency on fossil fuel and what we’ve committed to under the Paris Agreement in reducing our carbon footprint.”

Saint Lucia Electricity Services (LUCELEC) is one of the companies participating in the exhibition. The company’s Systems Development Engineer, Jean-Michel Parle, said LUCELEC, the country’s national electricity provider, has always supported and participated in the exhibition.

OECSBusinessFocus

Jun/Aug

www.oecsbusinessfocus.com

Work on Antigua Solar Energy Plant to Resume “Our focus is on the 3-megawatt solar farm we’ll be building in Vieux Fort,” he said. “This is the closest we’ve ever been to it. The project has been signed, there was a groundbreaking ceremony and the project has started. So we think it’s time that it’s unveiled to the public so that they can get some information on what exactly it consists of.” Parle said LUCELEC and the Government of Saint Lucia collaborated on a National Energy Transition Strategy (NETS), a forward-looking plan which spells out what the country needs to do to secure a sustainable source of renewable energy and keep its reliability where it is. Last May, Prime Minister Allen Chastanet said the development of the island’s geothermal resources continues to be explored. During his Budget Address, he said the pre-feasibility study for the geothermal project was completed last December.

Work on Antigua Solar Energy Plant to Resume Antigua & Barbuda’s information minister, Melford Nicholas, has said Cabinet is hoping to have work at the solar panel farm in Bethesda resume. Work was halted after the government insisted on renegotiating. Nicholas said during a May 16 post-Cabinet briefing that the company made a request for advance payment.

Chastanet said the draft Environmental and Social Impact Assessment Report for the drilling sites was submitted last January and that work on the legislative and regulatory framework for introducing and integrating geothermal energy in the domestic power system was ongoing.

“After we had received the considerable evidence from Antigua Public Utilities Authority and recognising the position that they were in, they were exhorted and asked to go back to the negotiating table to move towards the completion of the project,” he said.

Another major development in that regard, the Chastanet said, was that the preparation of a Power Purchase Agreement between the geothermal developer and LUCELEC, and a Geothermal Resource Development Agreement between Government and the geothermal developer, were also ongoing.

Nicholas said that the project remains active and the intention is to have the plant functioning, adding that the target is to have 30% of all energy consumed locally be renewable energy by 2020.

Town hall meetings were held in March to apprise the public on government’s plans to reduce the nation’s carbon footprint. Bodley said feedback from the public has been encouraging, adding that government is currently tapping into different sources of funding for the high-cost project. Bodley said that while there is some trepidation on the part of citizens, the project dovetails with government’s overall commitment to pursuing a renewable energy agenda, adding that the positive outweighs the understandable fear citizens might have. Meanwhile, in April, government announced that the development of the island’s first wind farm earmarked for construction in Anse Cannot, Dennery, was still a priority. The Project Developer, Steve DeWolf of WindTex Energy, visited Saint Lucia and held fruitful discussions with Minister for Energy, Stephenson King. That meeting was held to discuss and resolve challenges and barriers to continued development of the wind farm and reaffirm Saint Lucia’s commitment to the development of wind energy and greater advancements in wind development are expected next year. A Cabinet Memo has since been prepared and Government is considering land acquisition, concession and other contributions for the advancement of the project. King also gave Government’s assurance to support the project once it redounds to the benefit of Saint Lucians. ¤

“We have a strategic development goal of achieving that target by 2020, but we believe that we can have a more aggressive approach towards that target. Prior to Hurricane Irma, we had some 1,000 cable installation of renewable energy commenced in Barbuda, but that was blown away by the storm. Our intention over the next four to five years is to ensure that Barbuda’s energy consumption comes entirely from renewable resources to include wind, solar and thermal energy,” he said. Meanwhile, Lionel “Max” Hurst, the government’s chief of staff, reported that Cabinet asked APUA to come up with a solution to providing consistent and reliable Internet service to the nation’s schools. Hurst noted that the cost of supplying Princess Margaret School with Internet service each month would be in the range of $100,000 to $200,000 annually. Hurst wrote that given the number of secondary schools that would be provided with fully accessible Internet services, the annual bill would exceed several million dollars. He said Cabinet hopes that APUA will find alternative options to allow schools to have full Internet access daily. Poor and unreliable Internet connectivity were blamed for the country’s inability to allow Caribbean Secondary Examination Council students from taking their exams online. Recently, Ashworth Azille, president of the Antigua and Barbuda Union of Teachers, harshly criticised the education ministry about the absence of reliable Internet in schools. ¤ OECSBusinessFocus Jun / Aug

CGTI

Caribbean Governance Training Institute - There Is No Better Time For Good Governance

There Is No Better Time For Good Governance! In an April 2018 keynote address at the launch of the “Handbook on Good Governance for Chairmen and Boards of Directors of Public Enterprises”, Dr. Idah Pswarayi-Riddihough, a World Bank Director, took the theme “Transparency and Public Accountability is at the Core of Good Corporate Governance”. According to Dr. Pswaryi-Riddihough: “Evidence shows that a good corporate governance system is associated with beneﬁts for all companies, whether private or state-owned.” One study showed that after 7 years, those with “governance trained boards” had their return on equity rise from 7.7 percent to 10.5 percent, while total shareholder return grew by 16.4 percent. Indeed, at the end of 2017, a Harvard Law School report named seven ‘key global trends’ in corporate

governance which will continue to evolve, including enhanced interest in investor stewardship by governments and investors, as well as board quality and composition. All of which is certainly not news to 'Governance Guru,' Dr. Chris Bart of the Caribbean Governance Training Institute (CGTI), whose experience includes establishing The Directors’ College at Canada's McMaster University in 2003. The Saint Lucian company has for the past four years been spreading the gospel of good governance throughout the Caribbean region, meeting an increasing call for more robust oversight at both Director and Board level in all types of organisations. Indeed, CGTI has some convincing reasons that could inﬂuence the successful performance of your organisation.

Raise Your Board's Game with CGTI's Unique and Highly Acclaimed Programmes BECOME A CHARTERED DIRECTOR (C.DIR)

CGTI’s three-day Chartered Director Program is a fast-paced, interactive workshop highlighting the latest 21st Century best practices that Caribbean board members need to know if they are to competently carry out their roles as organisational stewards and active participants with management in major strategic and capital spending decisions. Upon completion, delegates are eligible to write a qualifying examination that earns them the post-nominal designation “Chartered Director” (C. Dir.), which has become the gold standard for governance training in the Caribbean region.

Why Invest In C.Dir? CGTI Chairman & Governance Guru, Dr. Chris Bart says: “The world of governance is constantly changing and our knowledge of what constitutes effective corporate governance is continually evolving. There are three essential qualifications that all directors must meet if they are to properly do their job. I call them the 3 C’s of great governance: Competence, Curiosity and Courage. Equipping directors with the first C – competence – is the primary objective of the C.Dir programme, and the aim of CGTI is to deliver the information, research and skills required by directors serving on any type of Board, be it corporate, not-for-profit, governmental or educational."

CGTI CEO & Co-founder, Lisa Charles says: “The C.Dir programme is based on international research and experience, but includes many examples and scenarios from the Caribbean region. The buck stops at the board, so it is no longer good enough to nominate your friend and hope for the best. CGTI's Chartered Director certiﬁcation is for candidates who want to further their governance education.”

Organisations who have invested in their Board Directors include: The Eastern Caribbean Central Bank (ECCB); Government of Saint Lucia; Dominica Water Company (DOWASCO); Turks and Caicos Financial Services Commission; Sandals Resorts International (Jamaica & Miami); CAC 2000 Ltd (Jamaica); TDC Group of Companies (St. Kitts); Bahamas Water & Sewage Company; Sagicor; Scotiabank.

Sandals International CEO Adam Stewart (Centre) with Delegates & CGTI Team

BECOME AUDIT COMMITTEE CERTIFIED (A.C.C.) CGTI’s two-day Audit Committee Certification Program’ focuses on the skills required to work and communicate effectively within the most important and professionally challenging committee of any board, the Audit Committee. CGTI's one-of-a-kind programme assembles internationally acclaimed Audit Committee thought-leaders and practitioners to discuss the need for improved accountability through more relevant boardroom practices, nurturing key relationships, essential behaviours and culture. By writing and passing the two hour qualifying exam at the conclusion of the programme, Audit Committee Directors earn the prestigious and highly coveted designation “Audit Committee Certified” and post-nominal A.C.C. Why Invest In ACC? Dr. Chris Bart says: "This A.C.C programme is among the most innovative and comprehensive programs on Audit Committee governance available in North America, delivered by top faculty and governance experts. Offering a ‘gold standard’ director education program enhances executive decision-making and adds unparalleled value for Audit Committees in the Caribbean."

Lisa Charles says: "The initials A.C.C after your name demonstrate your commitment to good governance and Audit Committee literacy, establishing that as a member of your organisation’s Audit Committee, you have achieved the gold standard in 21st century best practices. Becoming “Audit Committee Certiﬁed” shows you have the knowledge and skills necessary for survival and success in our increasingly litigious and complex regulatory environment."

Organisations who have invested in their Audit Committee include: Caribbean Airlines; The Bank Of Nevis; National Health Fund (Jamaica); Financial Services Regulatory Commission (Antigua & Barbuda); The Bahamas Co-operative League; National Insurance Board (Turks & Caicos).

ANNUAL GOVERNANCE HOT TOPICS CONFERENCE Held annually in Saint Lucia, the two-day ‘Hot Topics in Corporate Governance Conference’ has become a popular event for Board Directors who want to keep ahead of the good governance curve. Past topics have included crisis and reputation management, creative problem solving, effective chairmanship practices, cyber security, emotional intelligence and effective behavioural strategies for boards. The 2018 event promises to maintain CGTI’s reputation for providing the highest quality presenters on the latest governance best practices and emerging topics. In so doing, they are sure to attract another impressive cadre of attendees under the Conference theme: GETTING IT RIGHT – Best Practices for (Re)Establishing and Maintaining Trust in Governance: How boards must build and maintain constructive relationships with their key stakeholders. Why Invest In Hot Topics? Dr. Chris Bart says: "Board members at CGTI's annual conferences learn how to turn the latest emerging topics in governance from vague concepts into a way of delivering organisational resilience, robustness and continuously improved corporate performance. CGTI’s Hot Topics in Corporate Governance Conference shows directors how to become a valued asset within their organisation and CGTI's faculty experts are there to educate participants about becoming more effective board directors, sharing governance processes and tools that will transport the board beyond mere compliance and help it capture opportunities that generate long term value."

Organisations who have invested in CGTI’s Annual Hot Topics Conference include: National Bank of the Virgin Islands; National Insurance Corporation (Saint Lucia); St. Vincent & The Grenadines Chamber of Industry & Commerce; Sunswept Resorts (Saint Lucia); Antigua Commercial Bank; Demerara Mutual Life Insurance (Guyana); Communal Cooperative Credit Union (Grenada); Dominica Agricultural Industrial Development Bank.

OECSBusinessFocus Jun / Aug

IN THE KNOW

Latest Regional Elections Produce Landslide Wins

Latest Regional Elections Produce Landslide Wins Regional general elections this year provided some interesting snap-shots about the growing sentiments of citizens as political winners promise to deliver on their promises and the vanquished refocus their energies on possible comebacks.

A total of 51, 258 Antiguans & Barbudans were eligible to vote and voter turnout was 76.3%, lower than in 2014. The ALP amassed 23,063 votes, with UPP picking up 14,440 votes and BPM pulling in 558 votes.

On March 13, Dr. Keith Mitchell became Prime Minister for Grenada for the fifth time as his New National Party (NNP) dealt a consecutive clean sweep victory over the National Democratic Congress (NDC).

Following the win, Browne pledged to work for the development of all citizens: “No matter who you may have voted for, I offer you love and friendship...And I say to you I will work for you until I die. I will continue to work for your development.”

Mitchell, who has been in politics for 34 years, has now served a combined 23 years as Prime Minister, will become the region’s longest-serving Prime Minister should he complete his current term. He has served as Prime Minister from 1995 to 2008 and then from 2013 to present.

Meanwhile, Mia Mottley’s Barbados Labour Party (BLP) registered a historic clean sweep of all 30 parliamentary seats in the May 24 general elections.

In the 2013 general elections, NNP won by a clean sweep of the 15 parliamentary seats, in which 88% of the 62,148 registered voters from a total population of around 107,000 people participated. In this year’s general elections, the NNP won support from over 33,786 citizens among 78,222 eligible voters. The NDC won just under 23,000 votes, with the remaining 8 parties hardly registering in the ballot boxes. Despite being given the overwhelming mandate, Mitchell said government will govern in the best interest of all Grenadians: “You can’t ignore that 20,000 people voted against you (so) the task is to bring that element into the decision-making process.” On March 21, the incumbent Antigua Labour Party (ALP) – headed by Prime Minister Gaston Browne -- won 15 of the 17 parliamentary seats to secure another term. In the process, the ALP increased its parliamentary majority by one seat. The general election was held 15 months before it was constitutionally due in June 2019.

The Democratic Labour Party (DLP), headed by outgoing Prime Minister Freundel Stuart, had been in office for a decade, most recently under Stuart. In conceding defeat, Stuart stated that he “unhesitatingly and unequivocally and frankly” takes responsibility for the loss. Mottley, 52, now becomes the country’s first female Prime Minister. In 1994, she was one of the youngest Barbadians assigned a ministerial portfolio in the Ministry of Education, Youth Affairs and Culture at age 29. There were also other firsts for Mottley: she was appointed Barbados’ first female Attorney General and Minister of Home Affairs in 2001 and became the first female political leader of the BLP in 2008. During her victory speech, she said: “There should be no time for gloating. We are all one people. We are Barbadians. We will need many hands to help make light work. We will rebuild Barbados together. We have to get to the task immediately.” ¤

The country’s official opposition, the United Progressive Party (UPP), headed by Harold Lovell, won 1 seat, with the other seat going to the Barbuda People’s Movement (BPM). OECSBusinessFocus

Jun/Aug

www.oecsbusinessfocus.com

CARICOM Head Welcomes PM Mottley

CARICOM Head Welcomes PM Mottley Mottley’s Barbados Labour Party (BLP) won all 30 seats in the Barbados House of Assembly, making her the country’s first female Prime Minister. “The overwhelming victory clearly indicates that the people of Barbados have tremendous faith in your ability to lead the country to even greater heights,” the Secretary-General said. In looking forward to welcoming Mottley to July’s meeting of Regional Leaders, Ambassador LaRocque said: “Your country’s deep commitment to regional integration is well chronicled. Your own dedication to the advancement of the Community’s goals is also well-known.” The Secretary-General said he looked forward to Prime Minister Mottley continuing the leadership role that Barbados has exercised in the Community and as Lead Head of Government in the quasi-Cabinet for the CARICOM Single Market and Economy (CSME). CARICOM Secretary-General Ambassador, Irwin LaRocque, has congratulated new Barbados Prime Minister, Mia Mottley, on her “truly historic achievements” following the May 24 general elections there, and said it will be his pleasure to welcome her to the next meeting of CARICOM Heads of Government in Jamaica from July 4-6.

“You assume the leadership of Barbados at a most testing time in its history but you do so with the knowledge that you have received a comprehensive mandate from your citizens. You can be assured, Prime Minister, that the Secretariat and I will offer our full support to you and Barbados as you seek to further the development of the country and carry forward the integration process,” Ambassador LaRocque said. ¤ CCA OECS Business Focus Magazine 5x3.5(1).pdf

1/8/18

Henderson 2004 Ltd. C

Cargo Consolidators Agency Limited

CMY

OECSBusinessFocus Jun / Aug

10:03 AM

IN THE KNOW

Sandals Resorts Signs ‘Long-Term Sponsorship Contract’ with Cricket West Indies

Sandals Resorts Signs ‘Long-Term Sponsorship Contract’ with Cricket West Indies Cricket West Indies (CWI) is delighted to announce that Sandals Resorts, the iconic Caribbean brand and global leader in the luxury travel industry, has agreed a long-term contract to become the new principal partner and team sponsor of the Windies, following their recent support of the Hurricane Relief T20 Challenge at Lord’s in the UK. The new partnership is effective June 2018 and will cover all Windies teams from U-15s through to the Windies Men’s and Women’s teams. As part of the agreement Sandals will have their logo inscribed on all Windies playing and training clothing, as well as benefiting from activating Windies cricket in their marketing and social responsibility programmes. Sandals will also enjoy stadium branding at all home matches and broadcast sponsorship of all Windies matches shown on Sky Sports. The announcement was confirmed on Tuesday June 5 by Johnny Grave, Chief Executive Officer of CWI, as the Windies prepared for their three-Test series against Sri Lanka; which started on June 6 at the Queen’s Park Oval, Port of Spain, Trinidad. “Windies cricket is the heartbeat of the Caribbean and we’re thrilled to partner with such a prestigious international brand as Sandals which is also synonymous with promoting the best of the Caribbean to the world. Sandals shares our determination to strengthen and grow cricket across the region, as well as harnessing cricket’s power to drive economic investment and tourism” said Grave. Grave added, “This announcement comes at an exciting time for CWI, as we have just embarked on an ambitious new 5-year OECSBusinessFocus

Jun/Aug

100

strategic plan. Sandals Resorts’ investment will not only help fuel the game at all levels within the Caribbean but will enable us to achieve our strategic objectives. We are thrilled that Sandals have agreed to partner with us once again and that they are reinvigorating their support of cricket within the region”. In commenting on the new arrangement Chairman of Sandals the Hon. Mr. Gordon ‘Butch’ Stewart OJ, CD, Hon. LL.D said, “Our relationship with West Indies cricket is not a new one, having sponsored tours to the UK in 1995, 2000 and 2004, and we have now deepened our support for the Windies with this sponsorship which will cover all upcoming tours including the World Cup until the end of 2020. We have absolutely loved our association with West Indies Cricket over the years, and we look forward with great enthusiasm to this latest partnership, which started with a win against the ICC World XI in the hurricane relief fundraising match at Lord’s on May 31. We look forward to the Windies continuing its winning ways in the series against Sri Lanka, and the others to come.” Mr. Stewart added, “Sandals believes in the collective power of our Caribbean people, which has been at the heart of our success as the World’s Leading All-Inclusive Company for 22 consecutive years. Similarly, the Windies has been one of the most important institutions in fostering regional unity and pride. Sandals and West Indies cricket are two of the most successful indigenous brands to have come out of the Caribbean, which makes this partnership a natural fit, and we are proud to work alongside Cricket West Indies once more.” The Windies Men’s and Women’s teams are the current ICC World T20 Champions. The partnership is set to run until December 31, 2020. (CWI) ¤ www.oecsbusinessfocus.com

The Road to Success’ Design Highly Acclaimed by Judges

Three More Member States Sign On to the Caricom Arrest Warrant Treaty

The Road to Success’ Three More Member States Design Highly Acclaimed Sign On to the Caricom Arrest Warrant Treaty by Judges

The Pure Grenada exhibit at the RHS Chelsea Flower Show 2018 named ‘Grenada-The Road to Success’ has won a highly coveted gold medal. This brings to 14 the number of gold medals awarded to Grenada in 20 years of exhibiting at the Show, with four being awarded in as many consecutive years to Grenada-based lead designer, Catherine John and her extended team of volunteers. This year, the team brought Pure Grenada, the Spice of the Caribbean to life with a fragrant and exuberant representation of one of the island’s iconic historic symbols - The Board Bus. Measuring 10ft by 4ft, the sides are open to the spice-fragranced breeze and sweeping views as the bus heads back to the countryside from the capital city of St George’s. The Grenada team’s intricate design emphasised the rich and abundant flora typical of the tri-island state of Grenada, Carriacou and Petite Martinique, accented with scented spices and complemented by verdant foliage. Heliconias, orchids, gingers, tropical ferns, fruits and spices all feature prominently. Mrs. John said: “’Grenada-The Road to Success’ unites Grenadians in the memory of traveling by open-sided bus to and from our capital St George’s. These buses, always resplendent in our national colours of red, gold and green, were an institution in themselves and provided vital transport links to work, school and markets. Goods were carried on the rooftop, represented by our hanging orchids and bananas, whilst the exhibit showcases our islands’ extraordinary fertility and biodiversity with evocative blooms, foliage and spices that thrive at different levels of vegetation.” She added: “Our rainforest, dry forest, orchids and spices are all represented, revealing their intense colours and fragrances to ensure Grenada really stands out from the floral displays at the Show.” ¤

Barbados, The Bahamas and Guyana have become the newest Caricom Member States to have ratified the Caricom Arrest Warrant Treaty with Guyana becoming the latest of the three signatories to the agreement. The Treaty had required three signatures for its ratification. Guyana’s State Minister Joseph Harmon made the announcement recently and explained that the purpose of the revised treaty is to establish within CARICOM a system of arrest and surrender. It will also allow for the conducting of criminal prosecution for an applicable offence or executing a custodial sentence where the requested person has fled from justice after being sentenced for an applicable offence. An applicable offence means an offence for which the maximum penalty is imprisonment for at least one year. The Caricom Arrest Warrant Treaty simplifies the procedure of returning fugitives to the country where charges have been laid. Recognizing that the precious extradition framework among member states was complex, costly and limited the Heads of Government agreed to allow for a system of surrender of persons between judicial authorities of member states. The new treaty has removed the complexity, costs, and potential for delay inherent in the previous extradition procedures between and among some member states and establishing a more efficient system of the surrender of persons among all member states. Other Caricom member states are expected to sign the Treaty this year which was placed on the table at the 38th Heads of Government meeting in July 2017. ¤ OECSBusinessFocus Jun / Aug

101

IN THE KNOW

IICA Promotes Root Crop Biofortification for CARICOM

IICA Promotes Root Crop Biofortification for CARICOM The Inter-American Institute for Cooperation on Agriculture (IICA), along with its partners in academia and the private sector, is preparing the groundwork for the first sweet potato biofortification project in Jamaica. This initiative is seeking to improve nutrition at the national level and would be the first of its kind in the English-speaking Caribbean. According to Dr. Elizabeth Johnson, IICA Representative in Jamaica, biofortification is an agriculture-based method to address micronutrient deficiencies through plant breeding. She explained at the inaugural workshop that biofortified crops could prove critical in addressing vitamin and mineral deficiencies, as part of a balanced diet, particularly in women and children. Dr. Gillian Smith, in charge of the UN Food and Agriculture Organization (FAO) Office in Jamaica concurred. She said the initiative acquires even greater importance in light of increasing hidden hunger or nutrient poor diet and non-communicable diseases such as obesity, heart disease and Type II diabetes in the region. The keynote presentation was delivered by Dr. Carolina Gonzalez, Deputy Director for Harvest Plus Latin America and the Caribbean. Harvest Plus is the global leader in biofortification, seeking to eradicate hidden hunger through breeding and distribution of biofortified nutritious crops, with higher concentrations of the micro-nutrients iron, zinc and Vitamin A. Biofortified crops are now grown and consumed in over 60 countries, improving the lives of millions. Since the early 1990s, the idea of selecting varieties with the natural ability to accumulate micro-nutrients and crossing these with other varieties for high yield, disease resistance and good flavour was developed and has been promoted by an economist called Howarth “Howdy” Bouis. He was awarded the 2016 World Food Prize for his achievements as a co-founder of Harvest Plus. In addition to teaching farmers to grow these crops, biofortification also incorporates processes to demonstrate health benefits derived from consumption. This requires multi-disciplinary OECSBusinessFocus

Jun/Aug

102

teams of experts, including plant breeders, nutrition and food technologists working together. IICA is taking the lead to partner with Harvest Plus and Penn State University to foster partnerships in CARICOM to make biofortied crops available to the region. Forty participants from the Jamaican government, regional organizations, private sector, research institutions and academia contributed to the preparation of a major proposal for funding to launch the initiative. As sweet potato is grown and consumed throughout the region, it is an appropriate entry point for biofortification and as such major constraints to the production of this crop and its impact on food security were also considered. According to Representative, Dr. Johnson, the region has yet to exploit the vast potential and varied uses of the sweet potato, which can be used to manufacture some 118 value-added products including flour, drinks and snacks. The initiative has attracted the attention of the prestigious Penn State University, a major research and training institution with campuses and facilities throughout Pennsylvania U.S.A who has partnered with IICA and co-chaired the workshop. This partnership will also enable the wider agricultural sector to benefit from the expertise, resources, academic and research facilities of that institution to further build capacity in CARICOM. Key project players will be Penn State’s faculty Dr. Mark Guiltinan, Professor of Plant Molecular Biology and Dr. Siela Maximova, Research Professor of Plant Biotechnology. Dr. Guiltinan said that for thousands of years breeders have placed primary emphasis on improving the yield of plants, while often failing to address the need to enhance nutritional value. Funding is being sought to bring the benefits of biofortified crops to CARICOM. ¤

www.oecsbusinessfocus.com

American Airlines to Fly to Guyana

Arawak Cement Expands Its Product Range Arawak Cement Expands Its Product Range

American Airlines in May announced a weekly year-round flight from Miami to Argyle International Airport, St. Vincent and the Grenadines, among increased flights to other Caribbean destinations and Hawaii. The airline said that with the new flight options, beginning December 22, its customers will have “new options to escape the cold with more seasonal and year-round flights to the Caribbean and Hawaii starting this winter”. “American is the first U.S. carrier to serve St. Vincent and the Grenadines with the introduction of year-round Saturday service from MIA,” the airline said. Currently, Caribbean Airlines operates a weekly non-stop scheduled service from JFK International and Air Canada Rouge a weekly non-stop scheduled autumn/winter service from Pearson International, Canada. The flights to St. Vincent will be operated using the airlines A319. In 2017, the North American market accounted for 42% of stayover visitors to St. Vincent and the Grenadines. Meanwhile, regional carriers, Fly Jamaica and Suriname Airways, who both ply service between Guyana and the USA, will soon be facing increased competition for its Guyana market as the Guyana Government recently welcomed American Airlines’ decision to reinstitute flights to Guyana from this December. “I am delighted that American Airlines will commence flying to Guyana in December. This will coincide with the launch of the newly-expanded Cheddi Jagan International Airport and demonstrates a confidence in ‘Destination Guyana’ not only as a desirable tourist destination, but as an emerging oil economy as well,” said Minister of Public Infrastructure, David Patterson. “The Government has been working at various levels to provide more options to travelers to and from Guyana, to North America, with increased airlift, and American Airlines’ commitment to destination Guyana is recognition of this Government’s work since coming into office in 2015,” he added. Minister of Business, Dominic Gaskin, noted that “this is good for tourism, good for business and good for Guyana”. He said the Antigua-based regional airline LIAT announced direct flights from Guyana to Trinidad, adding, “this will give Guyanese and visitors to Guyana two additional travel options in this year alone”.

Barbados-based Arawak Cement Company has expanded its services with the recent launch of its Arawak Pre-Cast Concrete and Pre-Engineered Concrete Buildings Division. According to Arawak, which is a member of the CEMEX-TCL Group, its precast concrete and pre-engineered concrete products are made with the highest quality of cement from the TCL Group in combination with CEMEX Admixture technologies. “Arawak presents pre-fabricated concrete solutions designed to increase productivity at the job site, and at a better cost, ensuring greater savings to the customer. Additional features include, among others, pre-stressed beam and block-floor systems, insulated concrete walls, lightweight structural concrete and rapid-curing concrete.” These technologies, the company said, were discussed at a seminar held at the Hilton Hotel in Barbados, where several members of the local and regional building community spoke about the opportunity for technical solutions developed by CEMEX, to optimise the process of production of concrete in the CARICOM community, including advanced concrete technology that will be used to address current and future climate challenges. As a member of the CEMEX/TCL Group, Arawak says it now has access to over 100 years of experience and know-how, and that the new division offers a range of structural concrete in a portfolio that includes bridges, docks, jetties, low-cost housing, and pre-engineered concrete for multi-story commercial buildings and hotels. ¤

American Airlines said that from December, it will be expanding its presence in the region with the addition of four new destinations, including Guyana, Colombia, Argentina, and Oaxaca in Mexico. ¤ OECSBusinessFocus Jun / Aug

103

HEALTH & WELLNESS

raising awareness on Seven Engage in Prosthetic Limb Production Training in access to radiation treatment Saint Lucia Raising Awareness On Access To Radiation Treatment

Seven Engage in Prosthetic Limb Production Training in Saint Lucia

The Training Facilitates Access to Health Services For Persons With Disabilities In Saint Lucia The Organisation of Eastern Caribbean States (OECS) and the National Council of and for Persons with Disabilities (NCPD) in Saint Lucia, with support from the United Nations Development Programme (UNDP), in May concluded a training session on the production of basic prosthetic limbs. The training provided capacity building for income generation among the participants, while also enhancing quality of life of persons with disabilities through the provision of prosthetic limbs. Trainees will be earning a living by making limbs for sale. Prosthetic limbs are vital to many citizens, including people who have been confronted with an unavoidable amputation. However, patients are often required to seek health assistance overseas which represented a major financial obstacle. The two-week workshop was funded by the UNDP in collaboration with the OECS Commission and hosted at the NCPD Rehabilitation and Repairs Centre in Vieux Fort under the coordination of NCPD’s prosthetic technician, Andrew Collymore. The medical specialist completed certification in Prosthetic Limb and Caliper Fabrication at the MUKTI Artificial Limb Centre in India. Dr. Grace-Ann Cornwall, Head of the Social Development Unit, and Sharon Jacob, Administrative Assistant, represented the OECS Commission at the event organised for the closure of the training session. The workshop enabled seven participants to manage the production process of basic prosthetic limbs and learn technical and professional terminologies related to that particular medical area. Participants were grateful for the training which now provides them with an opportunity for self-employment as they are now able to respond to a critical need within the local market. All participants were presented certificates attesting the successful completion of the programme.¤ OECSBusinessFocus

Jun/Aug

104

The Cancer Centre Eastern Caribbean (TCCEC) is on a drive to raise awareness of the processes to be taken to access radiation treatment at the centre. Located in Antigua, TCCEC was launched in 2015. In 2017, a branch of the centre opened in Saint Lucia at the Tapion Hospital. While the branch situated at Tapion offers oncologic consultations and systemic therapy, radiation treatment is provided at the centre in Antigua. Dr. Glenn Jones, TCCEC Radiation Oncologist, states that this in no way makes accessing radiation treatment difficult. Initially, the process starts with a referral from one’s general practitioner. “It is very important that when the referral is made that we have a lot of the background information. So, for instance, there may be imaging studies like CAT scans and mammograms and we need those reports but we often also need to see those images, the pictures. We need the pathology reports. “For most patients that get cancer, there is a piece of tissue that is looked at in the lab and there is a report on what type of cancer it might be, so we need that report as well. Sometimes we need it reviewed or further discussed. At that point, there may be discussions between ourselves, referring physicians, other physicians, about the situation so that we can all share the same information to ensure that the information is complete.” Dr. Jones added that the centre ensures that once the referral is made, procedures are taken for the patient to be seen as soon as possible. “If there are additional tests to be done, we can help direct that and at some point along this process a decision can be made that it is the right time for the patient to be seen with family or friends. Then the decision will be made as to what the best treatment will be. So sometimes this can be immediate if it is an urgent situation or it can take several days. Right now, our typical time from referral to being seen is approximately six days.” The centre also has a range of funding plans available to clients which aids in making treatment attainable regardless of economic circumstances. ¤ www.oecsbusinessfocus.com

Grenada and India Set to Kick-Off Fresh Round of Cooperation Grenada and India Set to Kick-Off Fresh Round of Cooperation

in India’s health sector. The Keith Mitchell administration has informed India that it is bent on improving the management of the country’s health-care system.

Her Excellency Patel informed the meeting that her country will send a number of experts to Grenada to discuss the areas of cooperation which would also include IT, Biotechnology, Food Technology and Medicine. The group of experts to visit Grenada from India will include a number of IT experts. Grenada is also looking to India to help it transform its agriculture sector.

Health and agriculture are being given top priority as reflected in discussions between Grenada’s Health Minister, Nickolas Steele, and Her Excellency Anupriya Singh Patel, Minister of State for Health and Family Welfare, Government of India. The Indian health minister and her Grenadian counterpart are due to look at ways St. George’s can adopt best practices

Minister Steele’s delegation, which includes Permanent Secretary Pauline Peters, stressed that Grenada was not asking for money, but moreso for the expertise from India. Ten Grenadians will soon travel to India for training in agriculture. ¤

Sagicor Calls on Private Sector to Combat NCDs Sagicor Calls on Private Sector to Combat NCDs

The main objectives of the regional multi-stakeholder forum were to assess NCD response progress in the Caribbean since the second UN High-Level Meeting (UNHLM) in 2011, and to determine priority areas and action plans to be addressed at the upcoming UNHLM to be held in New York on September 27. Speaking during a panel discussion, Clarke challenge the private sector to do more to support the epidemic of NCDs in the Caribbean. He highlighted his company’s commitment to funding capacity building at the HCC – the forum host – through an ongoing Memorandum of Understanding.

Edward Clarke, Executive Vice President and General Manager of Barbados Operations at Sagicor Life Inc. The recently-concluded Caribbean Non-Communicable Diseases (NCD) Forum was held in Kingston, Jamaica under the theme “Supporting National and Regional Advocacy in the Caribbean in the lead-up to the 3rd United Nations (UN) High-Level Meeting on NCDs”. Notable attendees from Barbados included Professor Sir Trevor Hassell of the Healthy Caribbean Coalition (HCC) and Edward Clarke, Executive Vice President and General Manager of Barbados Operations at Sagicor Life Inc.

He also provided details of the company’s corporate social responsibility initiatives which focus on healthy lifestyles, including a campaign denouncing the marketing of unhealthy foods to children and the recently launched medical mobile units in Barbados and Dominica. Clarke emphasised the importance of private sector involvement in action plans to reduce the incidence of NCDs in the region. “I encourage all members of the private sector to make a contribution to this fight,” he said. “We cannot develop and prosper, supported by a workforce of sick people and we have to begin by educating our young people about healthy eating and physical activity so that we shape the path of our future.” ¤ OECSBusinessFocus Jun / Aug

105

Contact: Contact: MAJOR MOVES Rendra Gopee | Assurance Rendra Gopee | Assurance Mobile: | Email: rendra.gopee@bb.ey.com Mobile: +1 +1 758758 722722 81498149 | Email: rendra.gopee@bb.ey.com

BUSINESS FOCUS

MAJOR MOVES A look at Corporate Transitions

Gebhard Rainer, has been appointed as the new CEO of Sandals Resorts International by Chairman Gordon “Butch” Stewart, succeeding former CEO, Adam Stewart, who served for the past twelve years in that role. Rainer is a hospitality industry veteran with global operations and international finance experience. He served more than 20 years at Hyatt Hotels Corporation, including 2 years as Executive Vice President and CFO. From 2014 to 2016, he served as President and Chief Operating Officer for the luxury brand Coach. Sandals said the search was conducted in concert with Adam Stewart, with the aim to “accelerate the strategic growth” of the brands under the Sandals banner. “Sandals Resorts has a legacy of pioneering and implementing industry innovations and we are committed to not only bolstering our leadership position in Jamaica and throughout the Caribbean but also to broadening our horizons with further growth of the luxury all-inclusive concept beyond the region we call home. The addition of Rainer to the executive team will allow Adam Stewart to focus on his role as Deputy Chairman, allowing him to dedicate more time to forward initiatives.” Gordon “Butch” Stewart said in a statement.

Dr. Bernard La Corbinière has been appointed as the new Managing Director of East Caribbean Holding Company Ltd. (ECFH) effective March 19, 2018. OECSBusinessFocus

Jun/Aug

106

Dr. La Corbinière brings decades of experience in the areas of economics, banking, finance, consultancy and advisory services. He has a long tenure of executive leadership, and has held several substantive positions locally and internationally including Managing Director of the Saint Lucia Development Bank, Permanent Secretary and Director of Finance -- Ministry of Finance – Government of Saint Lucia, Consultant Economist, Macro Economic Advisor and Chairman of the CARICOM Development Fund. He will also serve as Managing Director for Bank of Saint Lucia and is keen to make his contribution to the ongoing strategic efforts to build a stronger institution -- to better serve the needs of valued customers and stakeholders.

Rory Bhikarrie is the new Director of Retail Banking and Small Business at Scotiabank and will be in charge of 21 branches throughout Barbados and the Eastern Caribbean. Bhikarrie, a finance professional, has garnered over 20 years of experience in banking after having joined Scotiabank’s Trinidad and Tobago Sales Team. Since then, his career has been marked by several senior roles with the retail branch network, with the most recent being District General Manager, Retail and Small Business. Under his leadership, the Bank’s branches and sales centers delivered and exceeded targets and have also copped several awards including the coveted ‘Branch of the Year’ Award on three consecutive occasions. Bhikarrie holds a Masters of Business Administration in Human Resources from the Australia Institute of Business and is also an alumnus of the CaribbeanCanada Emerging Leader’s Dialogue (CCELD) and the Institute for the Study of International Development, McGill University.

CIBC FirstCaribbean recently announced the appointment of Esan Peters as Chief Information Officer and Managing Director, Technology and Operations, with effect from February 1, 2018. Prior to joining CIBC FirstCaribbean, Peters worked with the Caribbean Development Bank (CDB) from 2002, supporting various CDB financial systems. In 2004, he joined CIBC FirstCaribbean as a software developer in the technology department to support the treasury systems of the bank, transitioning from technology to finance in 2005 as Manager, Financial Systems and later Senior Manager, Financial Systems in 2007. In 2009 he was promoted to Associate Director of Applications and took on additional responsibility for the Corporate Centre Technology function, including management of the data and business intelligence functions of the bank. In 2014, he was appointed Director of Technology Application Services with overall responsibility for leading all aspects of application delivery for the organisation including design, development, testing, implementation and support of software solutions for all business segments. In 2017, he was appointed Deputy Chief Information Officer and Senior Director Technology, responsible for leading the Architecture, Digital Client Experience, Data & Risk Services, Infrastructure and Application Support, and End User Technology functions for the bank. Peters is currently responsible for an annual budget of US$ 55 million and the leadership of a team of 250. Peters holds a Bachelor’s degree in Mathematics & Computer Science (with First Class honours) from the University of the West Indies (UWI). (PR)

www.oecsbusinessfocus.com

Contact:

MAJOR MOVES Rendra Gopee | Assurance Mobile: +1 758 722 8149 | Email: rendra.gopee@bb.ey.com

Rendra Gopee | Assurance Mobile: +1 758 722 8149 | Email: rendra.gopee@bb.ey.com

in the financial services sector, supporting cross-functional teams in the implementation of strategic plans. Sandra Y. Smith is the new Chief Finance Officer at OECS Ms. Sandra Y. Smith, a national of Barbados, joins the Commission as Chief Finance Officer in the Finance Unit effective March 26, 2018. Sandra is a UK Trained Chartered Accountant who developed her early skills in the audit world of KPMG and Price Waterhouse. She honed her financial management skills in Goddard Enterprises Ltd., and went on to work in diverse sectors spanning retail, distribution, tourism, cellular and oil and gas sectors. Sandra later transitioned from private sector to the world of international development when she joined the team of the Compete Caribbean Program (CCP). CCP is a program which administered projects throughout CariForum through funding from the UK and Canadian governments under the administration of the Inter American Development Bank. Mrs. Maria Fowell has been appointed as the Tourism Specialist Economic Affairs and Regional Integration Division at OECS Mrs. Maria Fowell is a Tourism Management professional with twenty (20) years’ experience in the tourism industry in Saint Lucia, including five (5) years of policy formulation and implementation at a national level. She has ten (10) years’ experience leading corporate marketing and internal communications

Her specialties include tourism planning & administration, community tourism initiatives, and event management. Maria is also experienced in brand strategy and market research, and is a member of the Chartered Institute of Marketing, UK. Maria has sat on a number of Boards including the Saint Lucia Tourist Board, St. Lucia Air Transport Licensing Board, Cricket World Cup Saint Lucia Inc., Development Control Authority in Saint Lucia, the St. Lucia Heritage Tourism Project Management Advisory Board and the St. Lucia World Heritage Site Committee. In 2000 she was recognized by Travel Agent Magazine in their Rising Stars Awards. Jacqueline EmmanuelFlood has been appointed as the new Head, Competitive Business Unit at OECS Mrs. Jacqueline Emmanuel-Flood has worked in the area of business development and trade promotion in Saint Lucia over the last twenty-five years. She has a wealth of practical experience in working with both public and private sectors and in forging public private sector partnerships for advancing national development objectives. Her specialties include Development Planning and Project Development, Investment Analysis and Finance, and Trade Promotion. She was the former director of the Office of Private Sector Relations (OPSR), the main implementation agency for the Government of Saint Lucia’s Private Sector Development Programme (PSDP), Chief Executive Officer of the Saint Lucia Trade Export Promotion Agency (TEPA) with the responsibility

for implementing Saint Lucia’s National Export Development Strategy. Jacqueline was the proprietor and Managing Director of Emmanuel Financial Consultants Ltd, has served as Executive Director (St Lucia Chamber of Commerce, Industry and Agriculture); General Manager (National Development Corporation - now Invest St Lucia). In a previous working relationship with the Organisation of Eastern Caribbean States, she served as the Trade Policy Facilitator. She also worked as the Senior Economist (Ministry of Planning, Establishment and Training) and was a Part-time Lecturer in Business Administration for UWI Distant Learning Programme.

Susanna De Beauville-Scott Project Coordinator, Caribbean Regional Oceanscape Project Oceans Governance & Fisheries Unit Mrs. Susanna De Beauville-Scott is a Project Manager with extensive experience in the field of Environmental Management. She joins the Commission with over 20 years of experience working in the public sector in Saint Lucia in the areas of Fisheries Management, Integrated Coastal Zone Management, Biodiversity and Protected Areas, Disaster Risk Management, and Climate Change. During the period 2008-2014, Susanna also worked with the Organisation of Eastern Caribbean States in the coordination of projects related to Biodiversity Management and Climate Change Adaptation.

OECSBusinessFocus Jun / Aug

107

BUSINESS FOCUS

MAJOR MOVES A look at Corporate Transitions teacher of the Vieux-Fort Comprehensive Secondary School A-Level Division where she taught Economics.

The Saint Lucia Bureau of Standards has a new Director. The newest addition to the SLBS Management team is Mr. Verne Emmanuel, who brings with him more than 10 years of experience in the field of engineering and project management. Verne Emmanuel is a Chemical Engineer who possesses advanced practical and technical knowledge and a passion for continuous improvement through the use of clean technology and best practice. He has a proven track record in developing efficient water, waste water and quality management systems in the process industry and implementing successful environmental management initiatives in sustainability projects. A certified Green Project Manager, Emmanuel possesses a Bachelors in Chemical Engineering, Masters in Project Management and a Masters in Reliability and Risk Engineering.

Ms. Sunita Daniel is the Chief Executive Officer of the Saint Lucia Trade Export Promotion Agency (TEPA). She previously served as an Economist and Chief Planning Officer for Agriculture in Saint Lucia, and more recently was employed by the United Nations Food and Agriculture Organization (UNFAO) as the Programme Liaison Officer to the Organization of Eastern Caribbean States (OECS). Ms. Daniel is also a past OECSBusinessFocus

Jun/Aug

108

She holds a BSc in Economics and Management, a Masters of Science Degree in Public Policy and Management, Professional level qualification in Project Management and is a current PhD student of Policy Analysis. She has wide experience in the areas of policy and planning and more recently was the co-ordinator of the OECS Shipping Initiative implemented by the OECS Commission.

The Saint Lucia Tourism Authority (SLTA) announced the appointment of Jeanette Faria as Director of Marketing, Canada. Faria, President of JF Marketing, will support the marketing efforts of the SLTA as part of a leading, national strategy to reposition the destination to Canadians. With almost 20 years of industry experience, Faria brings a wealth of knowledge to the SLTA having previously worked as Account Manager for the US Virgin Islands and North Carolina. Faria currently is the Canadian lead for The Beaches of Fort Myers and Sanibel. Throughout her career, several international destinations have seen an increase in visitor arrivals from Canada, in addition to achieving a stronger brand identity under her leadership.

Ian Chinapoo, is stepping down as Executive Director of the Unit Trust Corporation (UTC) of Trinidad & Tobago at the end of May, and has been appointed as a Director and Group Chief Financial Officer of Massy Holdings Ltd effective 1 June 2018. Chinapoo, who had been at the helm of the UTC since 2013, has more than two decades of experience in banking and finance. He served as Managing Director of Investment Banking & Trinidad Operating Company at FirstCaribbean International Bank Ltd until May 31, 2013 and prior to that, he was its Managing Director of Corporate Lending. Chinapoo, who also served as an Executive Director-Capital Markets and Managing Director of Capital Markets and Executive Director of Capital Markets at FirstCaribbean, joined the bank in 2004 as Director of Origination for the Southern Caribbean. He was recruited from Citigroup, where he held the post of Business Head of Citigroupâ&#x20AC;&#x2122;s Global Corporate and Investment Bank in The Bahamas. Chinapoo has a B Sc in Accounting (First Class Honours) from the University of the West Indies and tutored and lectured in the MBA, Advanced Diploma and CIMA programmes at UWIâ&#x20AC;&#x2122;s Institute of Business in Trinidad from 1996 to 2000.

In her new role, Faria will be responsible for developing and executing a strategic marketing plan targeting consumer and the travel trade through product launches, training seminars, marketing initiatives, and national advertising campaigns. www.oecsbusinessfocus.com

EVENTS 2018 regional entertainment, trade shows and conferences

Events Caribbean Association of Pharmacists - 38th Annual Conference CAYMAN ISLANDS – 12 - 19 AUGUST SHAPING THE FUTURE OF PHARMACY: REVEALING OPPORTUNITIES AND UNLOCKING POTENTIAL The Caribbean Association of Pharmacists is a network of care providers dedicated to improving the health and well being of people. The association achieves this by fostering a culture of continuous learning and improvement among the membership in pursuance of the advancement of the profession of Pharmacy. Members aspire to practice Pharmacy with a social conscience and commitment to the growth and development of the people of the Caribbean.

34th Annual conference & trade exhibition Hard Rock Hotel & Casino, Panama – jul 22 - Jul 23, 2018 Our theme is “Guiding Digital Adoption to Lead the Global Market“. CANTO will champion the discourse on this topic as we delve into the digital transformation that is beginning to both encompass and redefine almost every operator’s: revenue models; perception of customers and how they manifest and appear on networks; the services they consume and evolution of the ways networks into virtualized, self-aware entities. For more info visit: https://www.canto.org/annualconference/

Caribbean Forum on Population, Youth and Development georgetown, guyana – July 24-26, 2018 The Caribbean Forum on Population, Youth and Development will combine two important processes in the Caribbean subregion. First, a Caribbean Youth Dialogue to mark the 20th anniversary of the adoption of the Lisbon Declaration on Youth Policies and Programmes and second, the Caribbean’s preparations for a comprehensive review of the Montevideo Consensus on Population and Development five years after its adoption For more info https://www.cepal.org/en/events/caribbean-forum-population-youth-anddevelopment

Third session of the Regional Conference on Population and Development in Latin America and the Caribbean Lima, peru – aug 7-9 , 2018 To examine the first regional draft report on the implementation of the Montevideo Consensus on Population and Development; to present national progress on the implementation of the Montevideo Consensus on Population and Development; and to consider a proposal for a virtual platform for the regional follow-up of the Montevideo Consensus. For More info visit: https://crpd.cepal.org/3/en

Animekon Expo - The Caribbean’s Bet Comic.con bridgetown, Barbados – august 16 - 19, 2018 The Eastern Caribbean’s BEST pop-culture convention and the ultimate Geekcation destination! A 4-day celebration of all the things you know, and love, about pop-culture and entertainment including anime, comics, gaming, film, television and cosplay; all with a heavy dose of Caribbean charm! For More info visit: http://animekonexpo.com/

OECSBusinessFocus Jun / Aug

109

BUSINESS FOCUS

ADVERTISERS INDEX Advertiserâ&#x20AC;&#x2122;s Index

COMPANY

Page

Barbados Tourism Authority

Cargo Consolidators Agency Limited

Caribbean Alliance Insurance

Caribbean Awnings

CARILEC

CGTI

Delta Petroleum

First Citizens

Going Places

Green Technology

Grenada Airport Authority

Grenada Steel Works Ltd.

Grenada Tourism Authority

Henderson 2004 Ltd.

interCaribbean Airways

KPMG

PRABHA International Inc

RIMCO

ROSSCON

Sagicor

State Insurance Corporation

WIOC

COVERS FLOW

IFC

FLOW

OBC

ECFH

IBC

OECSBusinessFocus

Jun/Aug

110