OECS Business - Issue #2

The quarterly magazine for OECS decision makers

OECS

Issue No. 2

Nov/Jan 2015/16

One Community Growing Together

Roosevelt Skerrit Bold Leadership Promoting ICT Development The Challenge of Climate Change

Antigua & Barbuda

Special Feature

www.oecsbusinessfocus.com

An official publication of the OECS Commission

R FO

IN ASSOCIATION WITH

LE

SA BEL JOU HOTEL ST LUCIA

64-room full-service resort hotel, beautifully maintained to international standards Total Property Size 3.7 acres – approx 15,000 sq. metres

FOR PRICING GUIDANCE, SALES VIDEO AND DETAILED PROPERTY INFORMATION, PLEASE VISIT OUR WEBSITE AT www.CaribbeanHotelOpportunity.com Further details from Jonathan Everett of agents : Home Services Ltd. T: 1 (758) 452 0450 E: homeservices@candw.lc Or from Joel Crocker of : MacLellan & Associates OECSBusinessFocus T: 1 (758) 452 0862 E: joel@machospitalityconsultants.com

Nov / Jan

|

1

One Community With a Purposeful Agenda!

Welcome to Issue 2 of the OECS Business Focus Magazine as we continue to cover the issues that impact our region and open the doors to doing and growing business.

Our special “Thank You” to all the persons across the region and beyond for their positive comments on the first issue of this publication. Since our last publication there have been many issues which have affected our region and trust that they will have a lasting effect at galvanising our community with a common purpose.

We sympathise with our brothers and sisters in Dominica in the aftermath of Tropical Storm Erika. What a heart rending experience with the loss of life, damages and dislocation. Also, what a show of support from our sister countries in the region and further afield at rallying to the cause and calls for assistance. This was a clear reflection of “One Community Looking out for Each Other”.

We trust that this will be a further awakening to the region on the disastrous effects of Climate Change in the region. We look forward to our Leaders taking a common agenda as they assemble in Paris at the Global Conference to address the effects of Climate Change on our fragile small island states.

We have witnessed the growing debate over the Flow and LIME Merger and the resulting impact especially the proposed increased cost for their services. ECTEL and the regional regulatory authorities need to be complimented for taking the bold steps to engage FLOW. It will be interesting to follow the outcome, hopefully in the best interest of the region’s consumers.

We also note with interest the possible bid by another large international Telecomms operator to acquire Cable and Wireless Caribbean – the new owners of FLOW. Having just witnessed the merger of FLOW and LIME and the many implications being hotly discussed, we seem headed for possibly another major acquisition and merger in the telecoms sector.

We include a Special Feature on “Antigua & Barbuda” – another of our award winning tourist destinations as it promotes the twin island nation to would be visitors from the region and beyond and offers itself as a preferred investment location. Congrats, Antigua & Barbuda for being named the “Most Romantic Holiday Destination” in the recent Word Travel Awards.

We trust that you will enjoy the content of Issue 2 of the OECS Business Focus Magazine and we look forward to your comments.

OECS BUSINESSFOCUS 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 Editor: Lokesh Singh lokesh@amsstlucia.com Editorial Management Team: Lokesh Singh | Dr. Didacus Jules | Beverly Best Graphic Designer: Cecil Sylvester | Deri Benjamin Advertising Sales: Cennette Flavien - cennette@amsstlucia.com Hudson Myers - hudson@amsstlucia.com Evol De Souza - evol@regionalpub.com Gilda Alexander - gilda@regionalpub.com Ann-Maria Marshall - ann-maria@regionalpub.com Shari Dickenson - shari@regionalpub.com Webmaster: Advertising & Marketing Services Photography: Ashley Anzie | OECS | AMS | TEPA Antigua & Barbuda Tourism Authority | Charles Jong Antigua & Barbuda Airport Authority | GIS St. Kitts & Nevis St. Kitts Investment Promotion Agency Contributors: Lokesh Singh | Dr. Didacus Jules| Norma Cherry-Fevrier Roland Schwoerer | Judith Ephraim | Dr. Chris Bart Martina Johnson | Michelle Stephens | Trudy Glasgow Kem Warner | Samuel Rosenberg Antigua & Barbuda Tourism Authority | Carib Export Antigua & Barbuda Airport Authority | Carib Journal Caribbean News Now | Jamaica Observer 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, 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. azine for

terly mag

The quar

OECS

decision

makers Issue No.

2

Nov/Jan 2015/16

OECS

Lokesh Singh Publisher/Managing Editor

munity One Com her Growing Toget

On The Cover:

Antigua & Barbuda

Skerrit Roosevelt ership Bold Lead

ICT Promoting ent Developm enge of The ChallChan ge Climate www .oec

|

2

m focu s.co

Commission sbus iness the OECS

publication An official

OECSBusinessFocus Nov / Jan

& Antigua Barbuda

ture Special Fea

of

www.oecsbusinessfocus.com

No.2

O E C S

BF Nov 2015

CONTENTS FEATURE

29. Antigua & Barbuda 30. The Economic Performance of Antigua and Barbuda 33. Tourism Minister Asot Michael Welcomes You to the Shores of Any of Antigua and Barbuda’s 365 Beaches 34. Chief Executive Officer of the Antigua & Barbuda Tourism Authority Colin C. James 36. What You Need TO kNOW about Antigua & Barbuds!

44. Tourism: The Foundation for Success 37. How to Get Here 38. Tours and Attractions 40. Cruise Antigua & Barbuda 42. Luxury Projects 44. Airport Officials Celebrate the Opening of a New Terminal 46. Q & A On the New V.C. Bird International Airport Terminal 48. Antigua and Barbuda’s CIP, an Alternative, Reliable Source of Funding

50. Board Evaluations: The ‘Touchiest Subject’ in Corporate Governance

Tourism

52. Cancer Centre of the Eastern Caribbean Opens in Antigua

78. Seaborne Airlines Announces New

02. Editor’s Focus

69. World Bank Says Shortage of Long-term

04. Messages

Economy & Trade

79. LIAT Resizing to Become a Smaller

59. Kazakhstan, CARICOM Sign US $250,000

Environment

Package for Caribbean

Water Resource Management Deal

60. Caribbean Investment Summit Brings Much Needed Focus to the Region

61. Connecting Regional Enterprises with Regional Angel Investors

62. Budget Marine Is On the Move!

Money Matters 68. Resolution of Banking Sector Key to Growth Sir Dwight Venner

Finance is Blunting Progress in Developing Countries

70. CIBC FirstCaribbean Records Highest

06. An Interview With Dr. Didacus Jules (Part 2)

71. Scotia Profit Dips for 3Q 2015

10. Implications of Climate Change to Building

72. A Guide to The Successful Entrepreneur

Resilience in the OECS Business Sector

12. The OECS Commission Tackles Energy Management

14. Is the OECS Poised to Welcome the Green Energy Revolution?

16. OECS CBU Collaboration with ProMexico to Promote Economic Expansion

18. OECS Participates in Cuba-Caribbean Business Forum

20. OECS “Go Green” 22. Dominica

Service Between Puerto Rico and Antigua-Barbuda

58. British PM Announces US$544m Development

OECS Commission

The Catalyst for Investment & Devleopment

78. JetBlue in Discussions to Start Flights to Guyana

Quarterly Net Income Since Second Quarter of 2010

73. Unicomer Group Building US$60 Million Distribution Centre in Trinidad

Technology 74. Cable & Wireless Communications Partners with Ericsson To Deliver World-Class Mobile Broadband for the Region

75. OECS and CTU Partner to Promote ICT

Development in the Eastern Caribbean

76. US$7 Billion Investment Planned by

Airline Service

80. Barbados Hosts CDB Sustainable Energy Workshop

81. Eastern Caribbean Representatives Meet in Nevis for Coral Reef Monitoring Workshop

In The Know 82. UTT Launches its Aviation Campus 83. Antigua’s AUA Offers Medical Scholarships to Montserrat Students

83. CARICOM Secretary General Meets St MaartenDelegation on Associate Membership

84. CXC Moves to New Headquarters 85. WARFS 2015 Conference 86. Crossroads Centre Antigua OECS Member States 87. Anguilla 88. Antigua 90. British Virgin Islands 92. Grenada 94. Martinique 95. Montserrat 96. St. Kitts & Nevis 99. Saint Lucia 101. St. Vincent & the Grenadines 102. Events 103. Major Moves 106. Advertisers Index

FLOW for Jamaica

77. Digicel Group Joins

Mitel Global Network of Partners

OECSBusinessFocus Nov / Jan

|

3

MESSAGES

Commission

Multiple Challenges Require Bold and Decisive Leadership

Dr. Didacus Jules Director General

W

e persist in our journey to create a compelling source of business intelligence in the OECS with the publication of the second issue of the OECS Business Focus. We have been greatly encouraged by the response of the business and wider community to this project and in this issue we continue our Member State focus with features on Antigua and Barbuda highlighting the investor excitement and the many bold initiatives being pursued by the Government of Antigua & Barbuda with international partners.

In the interval since the publication of our first issue, so many seminal events with long term consequences for the business environment have occurred in such rapid succession. Our publisher Lokesh Singh has itemized some of these in his editorial: the devastation of Tropical Storm Erika, the prospect of major further acquisitions in the telecoms sphere. The OECS Commission will be playing a key role in helping with the organization of a Recovery and Reconstruction Conference for Dominica which we hope will be attended by all development partners of the OECS and beyond. Even as we focus on Dominica, Erika has awoken us to the reality that climate change is real and devastating. Rapid onslaught and unpredictable events like this will increasingly become the new climatic norm and we must take urgent action now to completely rethink how we manage the natural and the built environment.

This will require new and more resilient building codes, stronger zoning and land use measures with long term implications for catastrophic risk management and the insurance industry. All of this will require very strong political will and leadership – of the quality demonstrated by Prime Minister Skerrit of Dominica (the subject of one of the articles in this issue).

The acquisition talks currently underway between Liberty Global and CWC-Flow highlight the fluidity of the vital telecoms market and punctuate the need for deep reform of our regulatory apparatus so that it can respond with speed in safeguarding the public interest.

It is also clear from these developments that for the OECS Business Focus to fulfill its mission of providing business intelligence, we cannot simply regurgitate the news that has already happened but seek to identify the news as it is about to happen. This we will seek to do by giving greater profile to the analytical side of the publication and by making the website a proactive, responsive location that increasingly becomes the daily must visit information source for OECS business.

OECSBusinessFocus Nov / Jan

|

4

www.oecsbusinessfocus.com

Nowadays, every business is an IT business. But is your IT keeping up?

Axcel Finance ad

Workspace Solutions brings together the best of the C&W Managed and Cloud Services, all delivered over the region’s most powerful fibre network with easy to understand packages and pricing.

Workspace Solutions will form the IT foundation for your organisation for today and the future letting you do what you do best: Running your business.

Services Managed Networking

Cloud Security

Cloud Voice

• Private Wide Area Network (WAN) to connect your business sites.

• Local Area Network (LAN) at each of your business sites.

• Enterprise grade Wi-Fi at each business site for your wireless devices.

• “Turnkey” service includes site survey, design, installation & equipment.*

• Fully managed Next Generation Firewall, Intrusion Prevention (IPS), Content Filtering & Access Control in the cloud.

• No on-site equipment or expertise required.

• Endpoint protection provides Anti-Virus and secure connection for compatible computers (Windows® XP or later & Mac® OS X®) and mobile devices (Android™ & Apple® iOS).

• Private Branch Exchange (PBX) using the latest Voice over IP technology delivered from our resilient, carrier-grade cloud infrastructure.

Includes telephone lines, handsets, local numbers and extensions (call charges extra).

• Add Workspace Solutions Communicate Builders for conferencing, mobile integration and other great features (sold separately).

* Internal cabling is not included and must meet ANSI/TIA-568 international standard.

Microsoft® and Windows® are registered trademarks of Microsoft Corporation in the United States and other countries. Apple® and Mac® OS X® are trademarks of Apple Inc., registered in the United States and other countries. IOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.

Google® is a registered trademark of Google Inc. in the U.S. and other countries. Android™ is a trademark of Google Inc.

Contact us: 453-9000 or email slu-corporatesalessupport@time4lime.com

www.cwc.com OECSBusinessFocus Nov / Jan

|

5

THEBUSINESS CATALYSTTECH FOR INVESTMENT & DEVELOPMENT

An Interview With Dr. Didacus Jules Director General

T

BEGINNING OF PART 2

Commission Part 2

his is the second in a two part Interview with Dr Didacus Jules, Director General of the OECS Commission conducted

by Lokesh Singh, Publisher of the OECS Business Focus Magazine.

Dr Jules - Congratulations on your not so recent appointment as Director General of the OECS Commission and also on the Commission’s 34th Anniversary.

BF: Tourism has been touted as the largest economic sector with good signs of a return to growth in recent times.

What are some of the areas that can be addressed to diversify and energise this sector especially with its vulnerability to natural disasters and a volatile and price sensitive market?

We are very mindful that today’s global tourism market context is markedly different from that in which the Caribbean was a leading travel destination a few decades ago. The global tourism map today is much richer with more destination options than two/three decades ago. Some of the fastest growing destinations today are countries which were not associated with leisure travel just twenty years ago, Dubai being a classic example. As such the contemporary traveler has a wider pool of destinations to select from.

So our focus is really centred on the question: “how do we as the most tourism dependent region in the world remain competitive in light of intensifying competition?” A major response action for us at the Commission is diversifying and re-configuring and upgrading the product. And in that regard we are currently operationalising a five phase OECSBusinessFocus Nov / Jan

|

6

community-based tourism programme.

This programme focuses on diversifying the product offering to showcase niches including cultural, heritage, cultural, agro, culinary, sports and eco-tourism, as well dispersing the concentration of tourism geographically via extensive involvement of rural populations thereby increasing the multiplier effect of the tourist dollar by providing opportunities for more of our OECS citizens to benefit directly from Tourism. This increased level of local ownership and fostering of linkages with key sectors we think also enhances the resilience and sustainability of the sector, given the reduced dependence on foreign investment in the sector.

Tourism is not just about bringing visitors to our islands, but more about getting those persons to spend much needed foreign exchange in our islands to improve the living standards of our OECS people. So it makes practical sense to offer tourists a wide variety of revenue generating activities that will entice them to not only visit but to spend. Our aim is for Tourism to be seen as a means to end and not just an end in itself. So, the focus is not just about bringing tourists but ensuring that we use tourism as a means to achieve our social and economic goals – eradication of poverty, reduction in employment and also attitudinally to

see tourism as a means of “bringing the cultures of the world to our people” – developing an understanding of the what being global means even when you have not moved beyond the local. Tourism has an important contribution to make to global understanding at a people to people level.

Too much of our limited budgets are thrown into marketing when in many instances we cannot even clearly define and differentiate the product we are selling. Given the price sensitivity of the market we must give tourists a compelling reason to choose our islands over other similar warm weather destinations.

Visitors are seeking value for money, with a heightened desire to engage in authentic, enriching experiences.

We are also in the process of developing a Sustainable Tourism Programme; and partnering with the Sustainable Destinations Alliance of the Americas (SDAA) programme. The SDAA promoted an integrated approach to destination stewardship with a view to reducing the vulnerability of destinations. The programme is focused on building local capacity and destination competitiveness, which includes the implementation of an extensive Destination Stewardship toolkit in each destination.

BF: Inter island travel and tourism has seen major declines due to high costs of air travel and limited capacity with LIAT as the primary carrier. OECS Governments are divided on the future of LIAT. What are your thoughts on the future of LIAT and re-energising inter-island travel and regional tourism?

www.oecsbusinessfocus.com

LIAT is a vital lifeline among member states and it is too important to languish commercially. The airline has to be recapitalized so that it can better address demand. At the same time, LIAT is also a public good that might always meet strict commercial requirements – some of the routes serviced may not be commercially viable but they are socially necessary. I think that the so-called LIAT “problem” cannot be solved in isolation. LIAT must be reimagined in the context of air travel within and across the region as a whole.

In the OECS context, it must be examined alongside opportunities for feeder and charter airlines so that some of the routes that are not economical for LIAT can be serviced by smaller aircraft on coordinated schedules.

I am aware that several persons have occasionally called for a privatization of LIAT but I am not sure that this is the best solution. As indicated earlier, LIAT needs to be better capitalized but not necessarily privatized. The danger of privatization is that the airline’s operations would be scaled to maximize shareholder value which would not necessarily fit the public good responsibility of the airline. One should also be careful about leaving something that is so vital to our economies in purely private hands. Perhaps the time is right for us to fully explore the option of Public Private Partnership (PPP) approach, not as a panacea, but one of the key elements required to properly address the LIAT situation.

BF: Linkages between our major sectors is an opportunity to reduce our import bill and stimulate industry which is not being maximised. I speak of the supply chain for food (fruits, vegetables, meats, and fish) and other supplies to the hospitality industry.

This is a great opportunity to impact import substitution and food security as we grow business, generate employment and stimulate the economy. What are your thoughts?

This is something that the OECS Council of Ministers of Agriculture have already recognized and are taking action on.

The Ministers have agreed – with the support of the UN Food & Agriculture Organization, CARDI and other regional agricultural agencies – to establish food security in the OECS. We have a food import bill that stood at US$480 Million in 2011, the food dependency ratio (i.e. the total food imports in relation to total consumption) is increasing to the point where in two member states over 90% of the food eaten is imported.

The Agriculture Ministers have agreed that this is an opportunity to not simply reduce the import bill but to also promote local production, improve nutrition and boost rural employment. We are starting with government procurement of food in programs such as the school feeding programs: buy produce from the farmers in the communities that the schools are located in; change the menu for school feeding to local, healthier meals; get students involved in agricultural production that is aligned to the study of agriculture.

We often speak of agriculture as an export industry but the size of our food import bill across the OECS tells us that there is a HUGE opportunity here to take back our own market. US$480 Million can translate into 480 (US dollar) agro-millionaires!

So even while we continue to pursue export avenues for agricultural produce, the more immediate way forward is to produce for local demand while building competitiveness for strong export capability.

The membership of Martinique in the OECS has created new opportunities here that need to be carefully explored for particular creole foods that Martiniquans have an appetite for. There is already a thriving trade in products like Lambi (sea conch) between Saint Lucia and Martinique but this needs to be managed to ensure sustainable exploitation of the resource as well as meeting the quality standards for importation into Martinique which for this purpose will be European standards. So not only is there a larger demographic to strengthen demand but there is also a challenge/opportunity to rise to higher export requirement standards.

The repositioning of WINFRESH to be the spearpoint for agro-processing and export distribution is going to be essential in this strategy. The economies of scale

and production necessitate that we aggregate our production (just as we did with Windward Island bananas to the UK market) so that we can better manage quality and address export demand in a consolidated manner.

BF: Climate Change and Natural Disasters are now a major area of focus for the OECS as we are an especially vulnerable group of islands. We have seen the Norway / Guyana Agreement which has benefitted Guyana significantly with major cash injections. What are the possibilities of replicating this model for the OECS as a new source of revenue?

I am not sure that we can expect to emulate the Guyana-Norway Agreement because this resulted from some geographic specificities. Guyana is a vast country (it is the 86th largest country in the world) with a significant slice of the Amazon forest which is considered to be the lungs of the world. The Agreement with Norway seeks to help Guyana preserve this resource for its bio-diversity and its importance to global climatic patterns,

What the OECS can and is doing is to play a lead role in the struggle to have climate change addressed by the major industrialized countries who are the main contributors to global warming and climate change. Minister Jimmy Fletcher of Saint Lucia is the lead minister both for CARICOM and for the OECS on these matters and as a result of the work done by him and the Caribbean Community Climate Change Center, the OECS has played an enormously vital and disproportionately influential role in the global discussions on this. The upcoming meeting in Paris – COP 21 is really our last chance to achieve some binding agreement from the global powers on this question. We are fortunate that Martinique is now an Associate Member of the OECS because Regional Council President Letchimy was able to facilitate special attention from President Hollande to the needs of small states.

OECSBusinessFocus Nov / Jan

|

7

The Caribbean Climate Summit held last month in Martinique helped to refine the Caribbean’s position ahead of COP21.

Our expectation is that the global powers will not only commit to binding protocols and measures to curb, control and reverse the negative impact of human activity on the planet’s health but will also provide financing and support to the most vulnerable countries to mitigate risk and build the capability to address the adversity of climate change.

BF: The high cost of electricity has been a major challenge for both businesses and residents alike. The new world order speaks to alternate and green energy as the new direction. In this region we are rich with resources to tap into this area with possibilities for export of power.

What are the initiatives being explored across the islands and how and when are we expected to start seeing benefits in this region?

The cost of energy is one of the most volatile elements in the OECS economy and it is an area that if addressed with some urgency and determination could bring immediate benefits to all sectors of society. Our governments are very sensitive to these possibilities but are constrained by some harsh realities – principally among which are the legal arrangements in some territories surrounding the supply of electricity. In several countries, the power generating entities have been granted monopoly status for lengthy periods and on exceedingly profitable terms. Putting new regulatory regimes in place that will facilitate the new models of green energy production is a legal, political and business challenge.

Notwithstanding this we have a major initiative with the World Bank – the Eastern Caribbean Energy regulatory Authority (ECERA) that is meant to establish and operationalize a regional approach to the development of the electricity sector in participating OECSBusinessFocus Nov / Jan

|

8

countries. A great deal of work has been done in revising the legal frameworks, drafting new regulations and defining how the sector can be opened up for green energy production and distribution.

In virtually all Member States, we have initiatives underway for energy efficiency with replacement of bulbs and devices in government buildings and street lighting; there are geothermal exploration pilots underway in Saint Lucia, Montserrat, the Commonwealth of Dominica, St. Vincent, Martinique; wind exploration in Saint Lucia and there are many agencies (Caribbean Development Bank, DFID) and friendly governments (New Zealand) providing technical and financial support to these initiatives.

The PetroCaribe Initiative with the Government of the Bolivarian Republic of Venezuela, although focussed on concessionary support for traditional energy, was an important element in our energy equation as it helped our economies to stabilize the cost of fuel in a highly volatile market. Had it not been for this support, the impact of the global economic crisis and the rising cost of fuel our economies would have been in a terminal state of crisis.

So what is being done right now is the laying of the foundation for a green energy sector and many countries have set targets towards 2020 and 2030 for the operationalization of that sector.

BF: Water has now become a most lucrative commodity, with bottled water being a growing industry and supplies to residents and the commercial community being a major problem. With the current, hopefully we can now say recent drought affecting the region, it has become crystal clear that the supplies of this basic but vital commodity is a major problem for the region. What are your suggestions to alleviate this problem which is compounded by our harvesting techniques, aging infrastructure and pollution of the source?

Let me preface the response to this question by emphasizing that we are faced with an escalating complex of problems which on deeper analysis are all inter-related. So our environmental challenges – whether we are speaking of water availability, disaster and rapid onslaught events, beach erosion, sea level rise and so much more - all point to common causes. We cannot solve these problems by handling them in isolation

and shaping solutions in silos. We need to take integrated approaches that address root causes.

The water crisis is the result of many factors – deforestation over the years that has degraded our rivers and water sources, compounded neglect over the years in maintaining and renovating old infrastructure. Governments have invested considerably in expanding access to water but the old infrastructural foundations of the water industry require massive renovation. The big challenge there is how to manage the huge investment costs required while keep water affordable to all.

My suggestion (and I am no expert in this so these suggestions are just logical thinking about the situation) would be that the time has come to pay comprehensive attention to the water problem and consider doing the following things: •

•

•

•

Undertake a fresh inventory of water resources in the OECS to be able to project demand against supply and see where and how drastic the gaps are Based on this inventory, develop a phased plan for accessing different sources of water according to ease of extraction. So that for example ground water extraction vs construction of new reservoirs vs desalination etc.

Undertake rapid feasibility studies of developing an OECS trade in water so that the resource rich jurisdictions like the Commonwealth of Dominica can export water at affordable prices to the resource constrained and drier countries such as Antigua & Barbuda.

Create incentives for safe domestic water solutions – to enable homes to have cisterns that are certified safe for holding drinking water but not allow for breeding of mosquitos; waste and grey water recycling in www.oecsbusinessfocus.com

•

•

home use etc. These incentives should not only be government incentives but encourage private sector incentives so that banks and insurance companies for example would have their own incentives for home construction that make provision for rain water storage and waste water management.

Set the governmental example by ensuring that all public buildings are retrofitted or constructed for adequate water storage, efficient water utilization as appropriate to their function (so schools for example should be equipped with storage that could guarantee the drinking and sanitation requirements of the school population for at least a couple months if the mains were unable to supply water) Pass strong legislation that would both incentivize proper use of water and penalize wastage of water

BF: Unemployment amongst our islands is currently at an all-time high and this is more pronounced among our youth.

What are the suggestions for solutions to generate employment and more so opportunities to specifically address youth unemployment?

The centerpiece of any job creation strategy in the OECS must be opportunities for youth employment and economic engagement. I say economic engagement because the key to liberating the energy of youth in the Caribbean cannot be simply job creation – especially if these jobs are mundane, low wage jobs. Economic engagement is about stimulating and incubating youth entrepreneurship so that we develop a new generation of wealth and job creators.

There are many dimensions to this effort and once again, let me repeat, that our solutions must be integrated, holistic and multi-dimensional. The OECS is now on the third generation of its education reform strategy and this has helped to harmonize education in the Member States to a significant degree. The focus of the current plan is to address quality in a serious way and to ensure the convergence of education with real world opportunity. This involves modernization of the curriculum across all levels of education, the adoption of the “new generation” subjects that CXC has created such as Digital Media, Agribusiness, Entrepreneurship, Creative & Performing Arts, Sports and Physical

Education, Animation etc. Our schools must be reinvented not just to produce “marketable” and skilled workers but to produce better persons, better citizens, more capable and globally competitive individuals.

We are in the early stages of developing an OECS youth strategy that fits within the OECS Growth & Development Strategy and is aligned to the education reform agenda. This strategy will be unlike any youth strategy developed to date anywhere in the Caribbean because while we have concrete ideas of some of the things that we need to do, we are also crowdsourcing its creation. We have started having focus group sessions, block raps and meetings with youth within and out of school to get their ideas of what they would like to see put in place to meet their aspirations. The process has started in Saint Lucia because that is the location of the OECS Commission but it will be undertaken in every member state as widely and as deeply as we can afford to go!

The other dimension involves focussing some of our existing work on youth development and empowerment.

The Competitive Business Unit which is based in Dominica has already started identifying and working with youth businesses to strengthen their competitiveness and enable them to grow to their fullest potential. We have signed agreements with Mexico to have their premier business promotion agency – ProMexico – partner with us to stimulate entrepreneurship and capacity building. We are working with the Caribbean Science Foundation to establish a venture capital fund – CaribVenture – to finance, incubate and grow science and technology start-up companies that are principally led by young people. Training initiatives in computer programming, mobile and computer applications development, digital media production, film production etc will be pulled within a more structured framework and tied to recognized certification that can open many doors of opportunity.

BF: Education is a very passionate subject for you especially with your previous role at CXC. It has been said that our historic model has outlived its usefulness and is not generating the desired results or the requisite skills and quality of young persons for employment. More so English and Mathematics are subjects which have presented the strongest challenges.

What are some of the suggested approaches to address this problem going forward?

Some of my response to the earlier question speaks to this. The problem of performance in our education systems is that we are failing to provide a sound foundation on which to build later learning and without that solid foundation, any attempt at further learning will be weak. It starts from early childhood and the need for guaranteeing the cognitive and motor development of the child especially within the 0-5 year window. This does not require massive investment but the use of smart pedagogies of play that will enhance learning.

The pedagogy of the primary school also requires fundamental alteration to ensure that children are encouraged to think critically, explore and innovate, be creative and inquisitive and master the fundamentals of language, numeracy and science. CXC has already done its part because (at the request of OECS Ministers of Education) it developed an alternative exam to replace the Common Entrance Exam. It is called the Caribbean Primary Exit Assessment (CPEA) and it involves an element of relaxed but continuous assessment of students at least two years before Grade 6 with project work contributing significantly to their final grades. That new exam has successfully been implemented in Anguilla, Grenada, St. Vincent & the Grenadines in the OECS and showing spectacular improvements of student performance. There are some essential principles incorporated in the exam process that points to what needs to be done across the board to improve performance: • • • •

Create opportunities for students to take responsibility for their own learning Involve parents in the process Facilitate peer learning and the use of critical feedback to continuously improve learning Iterative work on basic concepts to ensure full mastery ¤

OECSBusinessFocus Nov / Jan

|

9

THE CATALYST FOR INVESTMENT & DEVELOPMENT

Implications of Climate Change to Building Resilience in the OECS Business Sector

By Norma Cherry-Fevrier

Vulnerabilities and Challenges The OECS Business sector is highly vulnerable to the effects of climate change. Given current global warming trends, the effects including seal level rise and extreme weather events are expected to worsen. Additionally, the business sector in the Region is challenged by small markets, small range of products, high administration costs, high debt, limited access to finance, poor innovation and high energy costs. Furthermore, the majority of critical services and businesses, about 70%, are located near the coasts. These vulnerabilities and challenges must therefore be addressed in order to build resilience in the business sector.

How is the Climate Change Impacting?

As the climate change phenomenon continues to threaten the Region’s SIDS, in a similar manner it increases risks for the business sector. These risks include: depletion of natural resources, damage to critical infrastructure and utilities, interrupted transport routes, heightened price and market volatility and unpredictable impacts on the workforce and consumers (BSR, 2015). In recent times, the OECS Region has experienced the impacts of extreme weather events such as Hurricanes Ivan and Tomas that severely impacted the tourism and agricultural sectors and almost wiped out major development gains and gross domestic products (GDP) of Grenada and Saint Lucia respectively. Moreover, the region is experiencing frequent and OECSBusinessFocus Nov / Jan

|

10

prolonged droughts that are classified as socio-economic; thereby negatively affecting business productivity.

•

What can be done?

•

The Intergovernmental Panel on Climate Change (IPCC) defines resilience as “The capacity of social, economic and environmental systems to cope with a hazardous event or trend or disturbance, responding or reorganizing in ways that maintain their essential function, identity and structure, while also maintaining the capacity for adaptation, learning and transformation.”

Building such resilience in the OECS business sector will be a challenge.

However, the sector must focus on the opportunities, engage in adaptation activities, utilise its capacity to transform towards a low carbon direction and innovate. The Sector should, among other things, seek to: •

• •

•

Develop a risk management strategy that takes into consideration exposures, vulnerabilities and capacities that will lead to the mainstreaming of climate change.

Address the enabling environment to improve incidences of innovation.

Make investments in environmentally sound infrastructure and technologies such as renewable energy to increase energy efficiency and make the sector more energy secure through the use of local energy sources such as wind, solar and geothermal.

Make investments in climate change adaptation and undertake corporate social responsibility activities that

build resilience to climate change at the community level.

Support climate change research activities and establish partnerships.

Establish financing mechanisms such as trust funds to generate sustainable financing for various sustainable development activities.

Towards a Resilient OECS Business Sector Although climate change threatens the OECS business sector, all is not lost. The sector can tackle climate change by focusing on opportunities, assessing risks, improving the enabling environment, investing in renewable energy technologies and climate change adaptation initiatives, supporting climate change research and establishing sustainable financing mechanisms. These actions can also lead to the formation of multi-sectoral partnerships between the business sector, government and non-governmental organisations (NGOs) towards building resilience in the business sector and the Region as a whole. ¤

Norma Cherry-Fevrier, Programme Officer II, RRACC Project www.oecsbusinessfocus.com

OECSBusinessFocus Nov / Jan

|

11

THEBUSINESS CATALYSTTECH FOR INVESTMENT & DEVELOPMENT

The OECS Commission Tackles Energy Management

E

By Roland Schwoerer

nergy represents a critical operating costs for many companies in the Caribbean region. In the hospitality sector this is very clear with energy costs accounting for second highest operating costs after the payment of salaries. Government and NonGovernmental Organizations also spend a significant amount of money for energy consumption – in most cases electricity.

There may be several reasons for this increased energy consumption ranging from increased electrical equipment, equipment with high energy ratings, inefficient design of building and energy wastage due to behavioral practices of the person using the buildings.

With the advances in renewable energy technology resulting in lower costs of these constructions, there is currently wide discussion on the use of renewable energy such as solar on buildings in an effort to lower energy costs in the long run. In this context, energy efficiency and conservation is sometimes pushed too much into the background and its benefits are not promoted. Experiences worldwide show that “Energy Efficiency Measures” present an opportunity to save energy and of course money from the first day of “implementation”. In many cases, the benefits can be obtained by investing little or no money.

The OECS Commission has clearly articulated energy as a priority if its work progamme. Consistent with this policy statement and in an effort to lead by example the Commission has introduced a comprehensive system for effective energy management in the five buildings it occupies in Saint Lucia. This initiative is being implemented through the “Building

OECSBusinessFocus Nov / Jan

|

12

Energy Efficiency Program” (BEEP) with the support of CARICOM and funded by the “Renewable Energy and Energy Efficiency Technical Assistance” (REETA) project of the German International Cooperation (GIZ). The project will build on results from an energy audit conducted on the premises in November 2014 and will seek to undertake various energy and water efficiency measures.

At the launch workshop of the BEEP initiative on August 31st in St. Lucia, Minister for Energy, Environment, Science and Technology Hon. Dr. James Fletcher highlighted in his speech the importance of this activity and its relation to the broader sustainable development goals being discussed at the international level. He further stated that though this initiative is a small one it is nevertheless a very important contribution to this effort and applauded the OECS Commission for its initiative in this area.

The launch also provided the opportunity for different companies and organizations like Sandals Resorts, Windjammer Landing Villa Beach Resort and the CARICOM Secretariat presented their success stories and lessons learned in using energy management systems. The hotels showed that even by starting with little or no investment but raising awareness and offering training to staff on energy efficiency very much reasonable energy savings were achieved. In the case of the CARICOM Secretariat, by reinvesting the financial saving from the energy efficiency measures in new energy efficient appliances or retrofits of buildings additional savings can be obtained. In this way a self -financing sustainable mechanism is created for energy efficiency within the organization.

This is particularly important as the initial capital outlay for energy efficiency can often be a major challenge.

Through the BEEP project, the OECS Commission intends to promote the importance and feasibility of implementing an energy management system in an institution or business in the region. The “Sustainable Energy Unit” of the OECS Commission has recently enhanced its capacity and technical skills in this field and is willing to assist other entities and companies in implementing such an energy management system.

The Commission welcomes requests for this support and invites institutions and companies to contact its Sustainable Energy Unit and join the campaign for energy management. ¤

Roland Schwoerer is a German CIMExpert in the Sustainable Energy Unit of OECS Commission. He is a European Energy Manager IHK and holds a Chemical Engineer Diploma of the University of Applied Science Hamburg, Germany.

www.oecsbusinessfocus.com

Presents THE CHARTERED DIRECTOR 3 DAY PROGRAM, The Gold Standard in Board Governance.

CGTI is the Premier provider of Governance Education for Board Members of Caribbean Organizations Great Boards help drive and sustain the success of their organizations. CGTI’s Chartered Directors Program is a dynamic educational initiative which focuses on the latest best practices that Caribbean Board Members need to know if they are to competently carry out their roles as both “organizational stewards” and “active participants” with Management in major strategic and capital spending decision.

2016 LOCATIONS:

ST. KITTS, BAHAMAS, ANTIGUA, ANGUILLA, GRENADA, ST. VINCENT, DOMINICA, ST. MAARTEN, JAMAICA, BRITISH VIRGIN ISLANDS

The Chartered Director Program is 3 days in duration. Upon completion delegates will be eligible to write a qualifying examination that will earn them the right to use the internationally recognized designation “Chartered Director” (C. Dir).

Session 1:

Day 1 The Principles of Good Governance

Session 2:

Day 1 Roles, Responsibilities, Accountabilities and Culture

Session 3:

Day 2 Introduction to “Basic” Financial Literacy

Session 4:

Day 2 Risk Management

Session 5:

Day 3 Developing Strategic Thinking vs. Strategic Planning

Session 6:

Day 3 Good Boards Need Good Directors

Qualifying Exam

Day 3 To take place at the conclusion of the program on Day 3

CGTI’s Chartered Director Program provides Board Members with the frameworks to: effectively oversee the CEO; constructively engage with Management to help set and execute their organization’s strategy; and ensure the financial integrity of their organization’s financial (and other) reporting systems.

CGTI will provide the Directors of Caribbean organizations with the latest 21 century governance tools needed to help them excel in the boardroom.

DR. CHRIS BART FCPA Lead faculty CGTI and Founder of the Directors College of Canada

CGTI offers highly esteemed international governance experts as faculty all of whom are Chartered Directors

Visit the CGTI website for more information: www.caribbeangovernancetraining.com TO REGISTER FOR ANY OF OUR UPCOMING PROGRAMS CALL 758-451-2500 or 758-489-2433 or EMAIL: sam@caribbeangovernancetraining.com OECSBusinessFocus Nov / Jan

|

13

THE CATALYST FOR INVESTMENT & DEVELOPMENT

T

Is the OECS Poised to Welcome the Green Energy Revolution?

By Judith Ephraim

he islands of the Organisation of Eastern Caribbean States, the OECS, are all gross importers of energy in the form of fossil fuels. Energy continues to represent a significant expenditure for the countries on a whole, as well as a major operating cost for most industries and businesses in the Member states. High energy prices can have ripple effects especially in sectors such as tourism and transportation. Cognizant of their vulnerability to fluctuating and often escalating global prices, and the impact that high energy prices can have on economic development and the cost of living, OECS countries have taken concerted effort towards sustainable energy. Almost all countries of the region have clearly articulated an energy policy or plan that seeks to address their long term energy planning and management. At the heart of these policy pronouncements is an explicit focus on renewable energy and energy efficiency.

An appreciation of the benefits of sustainable energy and the setting of national achievable targets with respect to renewable energy and energy efficiency are good first steps but these are not sufficient to transform the energy landscape in the region.

Governments see energy as a major driver of development and have identified OECSBusinessFocus Nov / Jan

|

14

the provision of a stable, affordable supply of energy as a priority area for intervention. This has resulted in the recent establishment of energy units and ministries that can ensure that there is sufficient, dedicated human resources and effort to implement the energy policies and produce tangible, meaningful results to which citizens can relate.

At the beginning on the 21st Century, the Caribbean Renewable Energy Development Project (CREDP) was able to identify a number of barriers to renewable energy use in the Caribbean including policy, capacity building, financing, public education and awareness. These also proved to be barriers to energy efficiency, an area that should be far easier to address than renewable energy. Over the past two decades a number of partners and organisations have been actively working in the Caribbean to assist governments in advancing their sustainable energy efforts and addressing these barriers. There has been some success and today the biggest barrier is perhaps that of financing for sustainable energy projects of the scale that the region requires. Throughout the OECS, both within the public and private sectors there is heightened interest in “renewable energy” and “energy efficiency” showing a paradigm shift in our thinking. Citizens have definitely moved away from the mentality that

as small vulnerable developing islands they have no control over their energy situation. The question remains though, as to whether sustainable energy is the new passing fad, the new buzz word or is this a green energy revolution here to stay.

The geographic location of the Caribbean makes solar energy an obvious option for development. The islands of the OECS receive an almost constant amount of surface solar radiation from month to month which means that they can

Judith Ephraim is a Programme Officer in the Sustainable Energy Unit of the OECS Commission. She holds a BSc (Hons) in Environmental Geoscience from the University of Bristol UK, and a MSc in Resources Engineering from the University of Karlsruhe (now Karlsruhe Institute of Technology) in Germany. www.oecsbusinessfocus.com

generate electricity from sunlight and use solar energy for heating. Whilst the region has been able to embrace solar water heating from early, the high cost of photovoltaic (PV) technology for electricity generation has proved a challenge. Advances in PV technology as well as decreasing cost are helping to increase both customer acceptance and capability to use solar energy.

Globally the solar market has been growing annually with on average 40% increase over the past 13 years. Today the largest percentage of the solar market is in Germany an area that receives far less solar radiation than the Caribbean. Nevertheless there is positive growth in the use of PV technology in the OECS. With the introduction of pilot net-metering projects which has allowed for residential and commercial buildings to feed any excess power produced to the national grids, several small solar projects have been developed. The initial feedback has been positive sparking further interests and calls for increases in the sizes of the PV systems allowed. St. Kitts and Nevis, Antigua and Barbuda and Saint Lucia have all taken serious steps towards larger utility scale solar projects. The former two countries are both working on their second solar farm and the latter is doing the requisite assessments to publish a request for proposals (RFP) for a solar farm.

Wind energy can also contribute to the diversification of region’s energy mix as the north east trade winds provide a very good resource for development. St. Kitts and Nevis is the first in the OECS to establish a 2.2 Megawatts wind farm and Saint Lucia in 2015 installed a test tower to monitor wind resources at 60 M as part of plans for the construction of a 12 megawatt wind farm.

The greatest challenge to wind development in most islands seems to be land availability due to competing land uses. With respect to hydropower both Dominica and St. Vincent and the Grenadines have been using hydropower plants for over thirty years demonstrating that renewable energy can be part of the energy solution for the region. Resources will need to be wellmanaged and adequate energy planning is needed to ensure that renewable energy is well integrated into the national grids.

Interestingly, geothermal energy is emerging as the renewable energy source receiving the most interest at the moment.

Over the past year, seven of the ten Member states of the OECS have announced plans to pursue geothermal energy and are actively working in the area. Work on geothermal started in some countries over half century ago and although the scientific evidence shows good potential for geothermal energy development in the volcanic islands of the Caribbean to date, only Guadeloupe has an operating geothermal plant. Successful development would result in geothermal energy contributing significantly to the energy demands of most islands and in some cases like Dominica and Nevis , the estimated potential could surpass the national demand opening the possibility of export of energy to neighbouring islands. Geothermal energy provides the added benefit of a stable energy source that can provide baseload power with limited need for backup power from diesel for example.

The high cost of financing for geothermal exploration and development is an area of major concern for the region though given that the countries of the OECS are not in a financial position to pursue geothermal on their own or to take loans from multilateral development banks. The exploratory phase needed to quantify the geothermal resource is both risky and expensive and this has to be properly planned to ensure that the energy ultimately produced is not at an exorbitant price as a result of this risk. The countries are seeking to maintain a healthy balance of providing the right conditions and incentives to attract

the best developers of geothermal resources whilst ensure a favourable deal for their populations. A number of international development partners with expertise and experience in the field are currently working in the region to support the OECS in their geothermal efforts. At the recently concluded second Council of Ministers Environmental Sustainability the OECS Commission was tasked with the responsibility of spearheading a process for regional approach for geothermal energy to address some of the shared challenges of geothermal energy development. This will ensure that whilst each country drives its national initiative, a collaborative mechanism is in place to facilitate the sharing of experiences and best practices, leveraging of financing, capacity building, policy development and coordination of external support to avoid duplication and avoid gaps.

The OECS Commission has identified energy as a priority for the region and this is clearly reflected in its annual work programme.

Tackling the energy needs of small islands is an interesting challenge which calls for a number of considerations. There are good success stories in both the developed and developing world but the OECS will be required to evaluate and adapt existing strategies to find innovative, effective solutions for its energy problems. These solutions must cater to the countries’ size, capacity, geography, economic development and unique culture.

The Commission has increased its in-house capacity to deliver on its energy mandate with the establishment of the Sustainable Energy Unit which will help to provide the support and expertise needed to advance sustainable energy in the OECS. The Commission’s experience thus far in energy has already provided valuable experience and knowledge that will be useful for the development’s ahead. The Eastern Caribbean Energy Regulatory Authority (ECERA) project is helping address the electricity regulatory reform for entry of renewable energy in Grenada and Saint Lucia issue critical for this time. At the sub-regional level there have been calls for more dialogue and collaboration on sustainable energy given the similar characteristics and interests of Member States. A number of other regional initiatives are underway to further strengthen the framework for sustainable energy in the region. These initiatives, together with the work done by the old and new energy partners in the region are creating a fertile ground for sustainable energy growth.

In recent times the cost of oil has been falling on the global market fueling fears that the new drive for clean, renewable energy may once again become a thing of the past. Over the years, attempts at renewable energy projects and energy efficiency in the region have been largely a response to escalating global energy prices that threaten to stymie our growth and development and negatively impact our quality of life. However, once a reprieve in oil prices emerged sustainable energy initiatives seemed to fizzle out and the world returned to its business as usual operations with the use of fossil fuel and little regard to efficiency. Fortunately for the region the new era of sustainable energy is not dependent solely on oil prices.

Today, the drivers for renewable energy include advancements in technology which drastically reduce the cost of renewables enabling to compete with fossil fuels. In addition, environmental considerations and the search for countries to have more control over their energy supply all support the development of renewable and energy efficiency in the region. Effective public education and capacity building programmes have helped to generate appreciation, demand and support for sustainable energy from all levels of society. Given this scenario, the OECS looks well- poised to deliver on a successful sustainable energy agenda if it stays the current course. ¤ OECSBusinessFocus Nov / Jan

|

15

THE CATALYST FOR INVESTMENT & DEVELOPMENT

OECS CBU Collaboration with ProMexico to Promote Economic Expansion

T

he Director General, Dr. Didacus Jules, led a high level delegation to Mexico in September 2014 as part of the Commission’s deepening engagement with our partners and South-South Co-operation efforts.

Mexico has been a stalwart friend of the region and has worked closely with the OECS Commission to promote a cooperation agenda.

During the Dircetor General’s visit it was agreed that the work and interests of ProMexico provided numerous possibilities for co-operation between the OECS Commission and the Mexican agency. ProMexico is the trade and investment promotion agency for Mexico with a network of twenty-nine (29) offices spread across Mexico and forty nine (49) international offices. It has a staff complement of six hundred (600).

Following on this visit, a follow up mission from the OECS Competitive Business Unit was undertaken in November, 2014, to further define a program of co-operation between CBU and its Mexican counterpart -Pro Mexico. Vincent Philbert, Head of Unit travelled to Mexico where he held discussions ProMexico office with officials - , to introduce the CBU and its programs, to learn about ProMexico and to consider ways in which the two organizations could collaborate, align their work programs, share experiences and promote synergies to mutual advantage.

During the visit CBU Head of Unit had meetings and participated in formal events involving a broad selection of senior staff of ProMexico. Among those with whom meetings were held are: Ambassador Francisco Gonzalez Dias (CEO), and other senior executives including Lourdes Arana Flores (Co-ordinator for Latin America and Caribbean Division), Marco Espinosa Vincens (Director of projects and Innovation) among others.

It was agreed that there are several areas in which ProMexico and CBU would collaborate to advance a mutually beneficial agenda for trade, investment and economic expansion. These include:

OECSBusinessFocus Nov / Jan

|

16

Investment and Trade Promotion: i. To conduct a series of national seminars for OECS

Investment Promotion Agencies (IPAs), sharing experiences, strategies and approaches of ProMexico.

ii. To share knowledge products such as national film industry promotion strategy which positions Mexico as a location for film production. iii. To facilitate opportunities for product development support in the creative industries such as in the area of craft (ceramic/pottery), branding and intellectual property registration. iv. To promote Knowledge-sharing on ProMexico services in support of innovation and invention such as the operations of the office of Patents and Property Rights, development of innovation platforms. “Mindfacture” (design, fashion, film, video games, animation).

v. To facilitate market studies and study tours for companies wanting to do business in Mexico.

vi. To co-operate in conduct of ProMexico organized Trade Missions in Dominican Republic and Cancun in 2015.

vii. To assist OECS CBU with screening of companies and business matching of companies to be invited to Business missions in 2015.CBU will be invited to have exhibition booths at these missions.

Business-2-Business Opportunities i. Mexico as a supplier of goods and services to OECS in areas

such as pharmaceuticals and medical devices, construction material, technologies and services, infra-structure/ engineering and civil works in resort construction, for instance.

ii. Mexico as a supplier of capital goods, equipment, spare parts and other inputs for SME production operations. www.oecsbusinessfocus.com

Capacity Building to CBU: i. Support to CBU in information sharing and use of

templates, access to data and related features on the ProMexico website and strengthening of CBU IT platforms/ services program.

ii. Assist with strengthening the Business Intelligence Unit

aspects of CBU’s services.

iii. Provide short-term Technical Assistance support from

ProMexico professionals for training in required areas for CBU work program.

iv. Assist CBU with short term personnel to strengthen its capacity in other identified areas.

v. Reciprocal program of staff familiarization visits for CBU &

ProMexico to observe processes, systems and gain knowledge relevant to agreed areas.

During the visit the CBU official was invited to participate in The Green Solutions Exposition in Aguascalientes, a state of 1.2 million inhabitants. This provided the opportunity to observe technologies in solar, bio gas and renewables, and to learn of the strides being made in Mexico in the area of green solutions (such as Nissan’s aggressive Mexico hybrid car program -plan to build one million hybrid cars).

SAVE DATE THE

JUNE 16-19, 2016

During Green Solutions meetings were held with University of California Center for Environmental Public Policy Director (Blas Henriquez) - one of the featured presenters on panels for the conference- on possibilities of providing services such as review of the regional framework (proposed legislation and policies etc) for renewable energy (with particular focus on geothermal energy) for the OECS. CBU informed that there were geothermal initiatives in Dominica, St. Lucia and Nevis and the region may be interested in considering a regional framework of policy and legislation regarding development of this resource.

Formal events included a meeting with the Governor of the State of Aguascalientes and various officials where opportunities for exchanges and discussions were had with officials representing participating countries having a strong record in Green themes; such as Finland and Iceland. Throughout the visit, the CBU was treated to the utmost level of hospitality, courtesy and positive energy. There was obvious enthusiasm displayed towards the developing relationship between the organizations and the prospects for its deepening.

Since, the Commission and Pro Mexico has continued to foster collaboration and co-ordination in areas of their work program.

The Director General returned in July, 2015 to Cancun to present the OECS experience and discuss opportunities in the region as part of an expert panel to an audience drawn from trade and investment at the Mexican trade Exposition in Cancun.

At the invitation of Pro Mexico the CBU is sending a representative to the China Latin American Summit to be held in Mexico in October where opportunities to discuss trade and investment co-operation for the OECS will be introduced. These initiatives are all part of the ongoing work in which the two organizations are collaborating, aligning their work programs, sharing experiences and promoting synergies to mutual advantage. ¤

EXPORT

TEPA

OECSBusinessFocus Nov / Jan

|

17

THE CATALYST FOR INVESTMENT & DEVELOPMENT

OECS Participates in Cuba-Caribbean Business Forum

C

uba’s southern city of Santiago De Cuba came alive to the sounds of its annual festive carnival celebrations in July 2015 welcoming thousands of visitors to that historic city in commemoration of the its 500th Anniversary. The Chamber of Commerce and the authorities of the Government of Santiago de Cuba hosted the Cuba-Caribbean Business Forum from July 15th – 17th at the famous Heredia Cultural Complex to provide an opportunity to strengthen economic relations between Cuba and the Caribbean.

The Cuban government presented its business potential in Santiago de Cuba to the rest of the Caribbean encouraging groupings such as the OECS to take advantage of trade exchanges in the areas of Tourism, Agribusiness, Agro processing, Creative Industries among others.

Mission” scheduled for the last quarter of 2015. The OECS delegates informed the Minister of the OECS Commission’s plans to present an MOU for review by Cuba for possible signing during that Business Mission. She however asked that the document be made available to the Cuban government early to ensure readiness for the agreed 2015 date.

A total of six companies from the island of Saint Lucia also participated in the Business Forum under the cover of the Saint Lucia Trade Export Promotion Agency (TEPA). The companies who to date have given remarkable reviews of their participation and are looking forward to cementing the relationships established are already looking forward to the next major event in Cuba. They are as follows: • •

Caribbean Awning Production Co Ltd Viking Traders Ltd

Head table (left to right) President Cuba Chamber of Commerce; President of the City of Santiago de Cuba; Minister of Tourism; Vice Minister of Foreign Trade and Investment; Director of the Office of Trade Negotiations at CARICOM

Meetings with Cuban Business Representatives

The OECS CBU through its participation in the event was able to establish very important contact with the Cuban Chamber of Commerce which provides a valuable link to all the state owned trading entities and serves as the governing authority through which trade is regulated. In his meeting with the OECS delegation the President of the Cuba Chamber of Commerce Mr Orlando Hernandez Guillen praised the OECS for the tremendous work it has done in keeping the region together and promised to give as much support as possible during the November 2015 Havana International Trade Fair (FIHAV). Mr Guillen spoke of his organization’s promised support to facilitate trade and stressed the importance for the Chambers from both sides to work together to build capacity particularly with the ongoing internal government reform.

• • • •

The Vice Minister of Foreign Trade and Investment Lleana Nunez Mordoche expressed her government’s willingness to assist the OECS business community in its efforts at growing the trade with the Republic of Cuba. She was very careful to say that the government of Cuba will open its market to the OECS without expecting any reciprocity and gave her country’s commitment to facilitate top level trade talks during a proposed “Business OECSBusinessFocus Nov / Jan

|

18

Baron Foods Ltd Harris paints (St Lucia) Ltd NATMED Ltd Chemical Manufacturing and Investment Co Ltd

To convert this into tangible benefits to our OECS client company base some key functional matters will require urgent attention from strategic stakeholders on both sides who would need to: •

Promote the opportunity for trade between the OECS and Cuba through stakeholder meetings.

•

Maintain substantive contact with OECS Ambassadors (through the Dean of Ambassadors) through whom these relationships can be further cemented into blooming trading arrangements and exports of goods and services.

Such efforts are certainly worth pursuing particularly in light of the emerging trading arrangements between the United States and Cuba which should actually make trade much easier for the OECS Member States. ¤ www.oecsbusinessfocus.com

OECSBusinessFocus Nov / Jan

|

19

THE CATALYST FOR INVESTMENT & DEVELOPMENT

OECS The OECS Green Committee was established in May 2014 by the new Director General Dr. Didacus Jules and was Launched 27th June, 2014 Purpose : To achieve a green organisation through healthy life style practices, water and energy conservation and efficiency.

T May 2014.

he OECS Green Committee was an initiative of Dr. Didacus Jules soon after he assumed office as the Director General of the OECS Commission in

The main objective of the Green Committee is to encourage sustainable, healthy practices within the organisation with the aim of staff extending these to their homes. The Committee was officially launched on June 27, 2014 and staff participate in activities of the Committee on a voluntary basis.

• •

•

•

The pillars of the Green Committee are: 1. Energy Conservation and Energy efficiency 2. Health and wellness - Improve air quality , improve quality of drinking water 3. Reduce and reuse and recycle initiative 4. Eating green and healthy 5. Sustainable transportation Hailed for its innovative approaches towards promoting environmentally friendly practices, the OECS Commission’s Green committee — a representative group of fifteen (15) persons, has inspired initiatives at the Castries-based headquarters from the mobilization of clean-up campaigns at the Commission to the transformation of “go green” lifestyle practices among staff at work and at home . The journey included the following: •

Staff Sensitization presentations on: Energy Technologies

OECSBusinessFocus Nov / Jan

through Renewable including |

20

•

Solar Photovoltaics for home – Ministry of Energy Science and Technology, recycling initiative and fuel efficiency Installation of signs to encourage fuel conservation Acquisition of indoor plants that improve air quality, this includes the use of indoor plants with reputed health promotion values.

Energy and Water Audit undertaken by an Energy Consultant sponsored under the Caribbean Renewable Energy Development Project CREDP The OECS Go Green Fair is another success story of the Commission’s Green Committee. At the OECS Go Green Fair demonstrations of solar PV systems for homes, cooking for healthy eating, displays on the value of LED lights, simple and advanced energy conservation methods as well as the test driving of a new electric vehicle were among the activities which ”wowed” the many onlookers.

Development of an Energy and Water Management Policy which speaks to the Commission’s commitment to an sustainable energy pathway by improving energy efficiency and reducing energy wastage in its operations.

Additionally , water conservation forms and integral part of the Commission’s effort to enhance efficiency and reduce wastage.

To fulfill these objectives, an energy management system was recently established.

Spurred on by the catchy chant “OECS-Go Green” the OECS Green Committee’s most recent achievement is the launch of its Building Energy Efficiency Project (BEEP) on 31st August, 2015 at Saint Lucia’s Palm Haven Hotel. During the launch the OECS

“GO GREEN”

Commission’s Green committee explained to the wide range of stakeholders such as environmental management experts at key Private and Public sector institutions that the overall objective is to improve the utilization of energy in the OECS Commission and to show leadership in more sustainable use of energy.

The Building Energy Efficiency Project for the OECS – OECS BEEP project also intends to promote the importance and feasibility of implementing an energy management program in an institution or business and the realization of long term savings through effective application of energy management in business operations.

Build Partnership in promoting Energy Management initiatives. Another area of interest to the Green committee is waste management and recycling. The Commission has been in dialogue with award winning regional waste company, Greening the Caribbean, to examine options for waste management at the Commission. The Commission hopes to implement this recycle programme by October 2015.

As a diplomatic Organisation the Commission continually strives for overall improvement and recognizes that the promotion of energy sustainability, water conservation, environmental management and healthy lifestyles both within and outside or Organisation as important to quality of life in the region . We hope that our experience can be replicated locally and regionally and we take this opportunity to thank all sponsors, supporters and participant who have contributed to our success. ¤

www.oecsbusinessfocus.com

Taste A Piece Of

Paradise At

Soufriere Estate

Explore the Diamond Falls, Mineral Baths & Botanical Gardens

Soufriere, St. lucia W.I. Tel: 1(758) 459-7155 Email: soufestate@candw.lc Website: www.diamondstlucia.com

OECSBusinessFocus Nov / Jan

|

21

DOMINICA

Impact of Tropical Storm Erika on Dominica The Private Sector Glance

D

ominicans on the western coast near Roseau and environs were awakened early morning, Thursday August 27,th to the sound of torrential rain and quite unaware that their countrymen from the south eastern village of Petite Savanne and western villages of Coulibistrie and Colihaut had been going through hell on earth since about 2:00 a.m. as water courses and rivers turned into raging tsunamis leaving a trail of death and destruction behind.

As one victim vividly recounts the ordeal “rivers grew legs like octopus tentacles”.

In the south eastern coastal village of Petite Savanne, neighbours stood on ridges in the dark of night looking on helplessly, as their friends and relatives on opposite ridges could be seen scurrying out of their homes, screaming only to be trapped between surrounding “gigantic legs” of the river, now a raging monster of muddy water. By dawn, others gazed at the sight of bare exposed cliff face OECSBusinessFocus Nov / Jan

|

22

where houses once stood and which were now buried, below, with entire families trapped inside.

By day break Wednesday, Dominicans on the coast line emerged dazed and stunned even while others were completely oblivious of what had been happening in other parts of their community, their village and the country in what turned out to be a night of terror for many.

When Erika was finished drenching the island she had dumped more that twelve inches (12”) of rain over a six hour period on an island where 3 inches was the standard for a rainy day. The storm caused major landslides, mudslides, rock falls, and extensive flooding over the island, impacting all facets of the islands economic and social activities from roads, to bridges, airports, schools, personal property and private business operations.

The impact of the storm - possibly the worst natural disaster in the country’s history- is still being assessed and will

remain elusive for some time when one considers the human costs in the form of a high death toll (more than eleven confirmed and two dozen others presumed), as well as the physical and psychological trauma experienced by the victims numbering in the hundreds. In its preliminary assessment, the Government of Dominica describes the impact of the storm on the various sectors of the country’s economy, in agriculture, tourism and infrastructure. Initial estimates stand OECS Competitive Business Unit , located in the Commonwealth of Dominica is the primary sub-regional institution of the OECS Member States for the development, promotion, and expansion of exports through the mobilization of technical and financial support for the agriculture and manufacturing private sector, and the provision of advice and assistance to member Governments and the public sector agencies. www.oecsbusinessfocus.com

at almost 700 million representing about fifty per cent (50%) of the country’s GDP. This figure, no doubt, does not account for opportunity costs in the form of loss of private sector services from commercial operations which were subject to damage and disruption and the dampened state of consumer activities across the board, in the weeks following the official preliminary assessment.

With a population of about five hundred it was a thriving fishing community, with a vibrant mix of agriculture and agro-processing activity in a diversified economy dominated by cultivation of the Bay Tree and distillation of Bay Oil for export. Also, it was known for production of rum popularly used locally for flavored and medicinal rums sold in local shops and to the diaspora market.

In the tourism sector damage to tourism establishments stands in the region of forty (40) million as facilities across the

Some commercial enterprises along the western coast were washed away completely by raging waters and

south east and south western coasts lost equipment, boats, and experienced other impacts such as land slippage and flooding. One of the island’s leading boutique establishments, Jungle Bay (located at the eastern base of a mountain on approach to the ill-fated Petite Savanne Village) was completely destroyed by landslides which rained down on the property at the same time that the western side of the mountain was entombing the sleeping residents of that village. About forty employees from the area lost their jobs. The employment impact there compounded by the fact that many of the former employees of the resort also lost loved ones that night in the Petite Savanne night of terror.

debris, along with utility infrastructure, telephone, water and cable lines shutting down communications and other services. These are now being restored.

Macoucherie Estate near St. Joseph, renowned for its cane rum and one of the last traditional sugar cane estates, was made into a wasteland by the cresting torrents from the Macoucherie River which obliterated the cane fields, estate vehicles in its path.

The entire economy of the village of Petite Savanne is now history as this area has been declared a Special Disaster risk area with its residents being re-located.

Other businesses on the coast, including automobile dealers and sales locations, fuel storage facilities of Petro Caribe were severely affected. Vehicles, trailers, fences were washed away by raging waters into the sea or buried under water, mud and debris from the Belfast, Check Hall and Canefield Rivers. By far the worst hit in the south west area is Dominica Coconut Products Ltd at Belfast, home to Colgate Palmolive’s product lines

and the leading employer of persons from the neighbouring communities of Mahaut, Massacre and Canefield. The river breeched the defence walls and tore down fences, and completely invaded the compound with surges exceeding six feet in the various buildings and offices. In the capital, Roseau market and surrounding businesses are slowly returning to normal after experiencing flood damage.

An assessment of the economic impact on the business sector would have to take into account the sudden halt of the week end drives to the out communities

to do the “country lime” an important stimulant to the rural economies which was impossible because of landslides, damaged roads and bridges. Although most of the road network is restored, these are still compromised and country pursuits remain dampened weeks after the event in many areas beyond the capital.

Overall, the country’s private sector is experiencing the post Erika trauma in the form of loss of business from reasons ranging from missed days of work, road diversions and reduced vehicle traffic because of damaged roads and city infrastructure, loss of jobs (and reduced hours) in some establishments and a much more bearish consumer as Dominicans emerge from this event, still dazed, and picking up the pieces. ¤

OECSBusinessFocus Nov / Jan

|

23

The world responds to Dominica’s Relief Efforts

DOMINICA

US Navy Ends Humanitarian Mission

CARICOM Energy Programme Provides Solar Lanterns to Dominica

A

s part of the disaster response activities of the CARICOM Secretariat, the Energy Programme has provided four hundred Emergency LED Solar Lanterns to the Government of Dominica.

The lanterns are powered through a built in solar cell and are designed with back up battery and “hand cranking” charging options. They provide light through energy efficient LED bulbs and include a built¬ in USB port, which makes them capable of charging mobile phones and other electronic devices. The lanterns are an appropriate fit to the post disaster activities and, upon exposure to six hours of sunlight, provides lighting and power for communication devices, which can simultaneously improve the situation of residents and assist emergency field workers in the discharge of their tasks.

Dominica was the most severely impacted among the CARICOM Member States on which Tropical Storm Erika unleashed torrential rains on Thursday 27 August, with continuous rainfall measuring 10 inches over a 6-hour period. This heavy, intense rainfall caused a cresting in of rivers and ravines, which caused extensive flooding and resulted in loss of life, significant damage to infrastructure and displacement of hundreds of residents.

The power infrastructure was heavily affected and many areas remain without access to electricity even now.

The Caribbean Community (CARICOM), together with our international partners, stand in solidarity with the Government and people of Dominica during this period of difficulty.

The Energy Programme has pledged to continue supporting Dominica and will assist with the integration of sustainable energy designs into the post disaster rebuilding process. The contributions are being supported by the Renewable Energy and Energy Efficiency (REETA) Project, which is being financed by the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) and based in the CARICOM Secretariat in Georgetown, Guyana. ¤

OECSBusinessFocus Nov / Jan

|

24

T

he United States Navy’s hospital ship, the USNS Comfort has just ended a two-week humanitarian mission to Dominica.

Thousands of Dominicans benefitted from medical, dental, and veterinary care. Crew from the USNS Comfort also participated in several community relations projects including a soccer match with youth participants of the A Ganar program, painting the Grotto Home for the Homeless in Roseau, as well as hosting a reading, and dental hygiene session at the National Library with children who were attending the summer programme there.

The USNS Comfort is one of US Southern Command’s premier efforts to bring health care, humanitarian assistance, and civic support to communities in Latin America, and the Caribbean on behalf of the people of the United States.

The mission team comprises US military and civilian personnel, partner nation forces, and representatives from non-governmental organisations aboard a US vessel, working together to bring the best possible assistance to its neighbours in the region. Since 2007, these teams have offered medical, dental, and veterinary care to local communities throughout the voyage.

USNS Comfort will dock in Barbados for two days as a liberty call for its 1,000-member crew. While there, some of the crew will participate in a community relations event, painting the Holy Innocence Primary School in St. Thomas. ¤ www.oecsbusinessfocus.com

Dominica to Host Next OECS Summit

D UWI Cave Hill Campus Gives Dominica Students Fee Ease

D

ominican students at the Cave Hill Campus of The University of the West Indies (UWI) won’t have to worry about paying tuition fees – for now.

Principal of the Barbados campus, Professor Eudine Barriteau says a decision was taken to defer fees this academic year, in light of the devastation caused in Dominica by Tropical Storm Erika. The storm resulted in deaths and major damage to homes and infrastructure in the Caribbean island.

“While all other Caribbean nationalities enrolled at the Cave Hill Campus face the now annual challenge of ensuring that they are in good financial standing at the start of each semester in order to pursue their studies, we at Cave Hill took an early decision to defer all payments owed by our Dominican students until such time as their sponsors, whether they be guardians, relatives or the government of Dominica itself, find the situation at home sufficiently improved to deal with such matters,” Barriteau said.

“We felt that this was the very least we could do as a campus, in spite of our own well known financial challenges.”

The principal made the disclosure at a press conference when she spoke about the Celebrity T20 cricket match in Barbados in support of Dominica.

The T20 match at Kensington Oval will see a WICB President’s Celebrity XI play against a UWI Vice-Chancellor’s Celebrity XI. Each team will field six West Indies cricketers and five Caribbean celebrities.

Sporting personalities including former West Indies and Trinidad and Tobago cricketer Brian Lara, Tobago-born footballer Dwight Yorke and Jamaican Olympian Yohan Blake are among the celebrities who will play. ¤

ominica will host the next summit of the Organisation of Eastern Caribbean States (OECS) in November 2015, the OECS Chairman Prime Minister Dr. Keith Mitchell has announced.

Mitchell, the Grenada Prime Minister, paid a visit to the storm hit island and later said that convening the summit in Dominica will present a united and supported front to the country which suffered damages estimated at EC$1.5 billion (One EC dollar =US$0.37 cents). At least 31 people were killed when the storm hit the island late August.

“We all express support and commitment to the recovery of Dominica. Only when things happen to you, then you get to know your true friends. Grenada has been there and Dominica bled with us. The OECS and CARICOM bled with us…”

Grenada has since announced that November 7 will be declared a special day in Grenada for Dominica with the staging of a major fundraising concert.

Winair Increasing Service to Dominica, Guadeloupe

R

egional air carrier Winair has announced the launch of additional schedule service to Dominica and Guadeloupe.

The twice-weekly service, which will begin Oct. 3, will feature a flight originating in Guadeloupe, stopping in Dominica and returning to the carrier’s hub in St. Maarten. The flights out of St. Maarten will stop in Dominica then Guadeloupe.

Winair will operate the flights on ATR 500 aircraft.

The company is also operating DHC 600 Twin Otter flights to Canefield in Dominica five times a week until Oct. 25. ¤ OECSBusinessFocus Nov / Jan

|

25

DOMINICA

B

5 Leadership Lessons from Prime Minister of Dominica Hon. Roosevelt Skerrit

randed as “the nature isle”, Dominica stands out amongst its Caribbean brothers and sisters as distinctly lush and un-spoilt, accented with the unforgettable Carib peoples and the intoxicatingly rhythmic World Creole Music Festival. But Dominica has been trending across all media platforms for another reason since 26 August 2015.

Tropical Storm Erika came not unexpectedly, but brutally, destroying villages, businesses and critical infrastructure, and at the same time taking the lives of whole family members each desperately trying to save the other. What we saw in Erika’s aftermath transposes our memories to the devastation in Grenada following the passage of hurricane Ivan in 2004.

No doubt the Caribbean has seen the havoc of hurricanes before, but with each encounter it reminds us that it could be any of us, at any time. We are one, separated by waters but connected through our people, whether familial relations, business networks, educational exchanges, sporting exploits or that general identification of being West Indian - we are one.

So when Erika hit Dominica and the immediacy of social media started circulating images of streets turned into boulder-filled rivers, houses flipped upside-down exposing battered foundations, trees uprooted like feathers plucked from a rooster’s chest and former agricultural lands flattened as if being prepared for cultivation, we understood,

OECSBusinessFocus Nov / Jan

|

26

we felt the pain, we were ready to assist in the recovery and rebuilding.

One month after the momentary halting of time in Dominica, we see admirable progress being made. Temporary bridges have been installed to reconnect villages, debris removed from roadways and provisional homes erected.

Leading this long journey to full recovery is the country’s recently re-elected Prime Minister and Minister of Finance Honorable Rossevelt Skerrit. He together with the many unnamed officials, passionate volunteers and shell-shocked citizens are starting each day with renewed energy and optimism.

Prime Minister Skerrit has surely learnt from the experiences of Grenada following hurricane Ivan in 2004 and St Lucia and St Vincent and the Grenadines following hurricane Tomas in 2010. So as family members do, the leaders of these islands would have shared their advice, offered suggestions, provided moral support and most tangibly financial and technical assistance. Prime Minister Skerrit has humbly accepted the guidance and demonstrated his unique style of leadership in the process. So what have we learnt from Prime Minster Skerrit about leadership during times of crises.

1. Communicate clearly and consistently For the first few days following and ongoing since tropical storm Erika hit, Prime Minister Skerrit has been cleverly

Michelle Stephens is a business strategy consultant with over 15 years’ experience in the field of strategic planning, marketing and business development, having advised several regional public and private sector businesses on strategic and marketing strategies. This article is for general information purposes only and does not constitute legal advice.

Follow on Twitter: MichelleStephens@Michst22

taking to Twitter and Facebook to provide real-time written updates and visual snapshots of the progress. He has also employed traditional media – radio and television - to deliver comprehensive addresses to the nation and content relevant press briefings, each also being linked on the various social media channels, to ensure that the extended families in the diaspora and supporters overseas are similarly informed. During these sessions he calmly articulates and reinforces his strategy for the recovery and rebuilding, steadily provides factual progress reports, forgivingly clarifies any misinformation and authoritatively responds to questions from the media.

The product of these communications activities is a singularity of message across all channels, thereby creating understanding and unifying volunteers, donors and well wishers to one goal – rebuilding.

2. Inspire confidence Prime Minister Skerrit recognizing the expectations of his people and the easy descent into despair when faced with great loss, sort to encourage Dominicans to hold their heads up and remain hopeful for the future - “I do not want us to behave like people in despair or with no hope…we must ensure that as a country we remain united in our purpose to rebuild our country”. In his charismatic way, he is truthful about the realities of the economy post Erika, yet he deliberately continues to speak positively and optimistically of Dominica’s future. www.oecsbusinessfocus.com

3. Model the behaviors As the face and voice of his nation, Prime Minister Skerrit has demonstrated an ability to relate and empathize. He does so by listening to and consoling everyday citizens, touring affected villages, consulting with technical experts, encouraging farmers and small business owners and acting as host to foreign donors and supporters. Moreover in modeling the behaviors expected from his people, he holds himself as Minister of Finance publically accountable for government expenditure, revival of economic activities towards returning government revenues to pre-Erika levels and fund-raising to secure full recovery.

Throughout the recovery process he empowers his team members to do their best, at the same time has taken no personal praise but rather publicly thanked his team members, local volunteers and foreign supporters and aides for their hard work and assistance.

4. Stay focused During an address to the nation on 29 September 2015, Prime Minister Skerrit descriptively listed a series of actions necessary to return the country to its former self. Facing the sobering reality of a 7 million Eastern Caribbean dollar revenue shortfall in the one-month post Erika and an estimated 1.2 billion to rebuild, Prime Minister Skerrit appealed to stakeholders and more pointedly the local private sector to work with the government in the coming weeks, months and years ahead - “I am already

in receipt of some mind-boggling requests for tax waivers and concessions that were they to be granted would effectively bankrupt and shut-down this economy of Dominica…..we have to put greed and selfishness aside”.

Seen as mere distractions to the goal and appreciating the enormous responsibilities on his shoulders, Prime Minister Skerrit then signalled his intent to pursue an aggressive speaking itinerary to raise funds for the 1.2 billion dollar rebuilding estimate. He again reminded Dominicans “that the road ahead is long and indeed winding but I am not daunted, I am certainly not daunted by the task ahead…..I shall remain focused”.

5. Build a team of teams Team building is a key skill for any leader, and Prime Minister Skerrit understanding this built groups of sectoral, national and non partisan committed individuals who consult with experts from across the region at all levels. This model has seen the convening of meetings with all 20 parliamentarians, donors, public officers, members of the productive sector and the collaboration of Organisation of Eastern Caribbean States (OECS) leaders and experts.

Prime Ministers Skerrit like other leaders in times of crisis is solidifying himself as a worthy leader and his leadership style is an example worth cheering.

Best wishes to our sister island Dominica as we all across the OECS and CARICOM come together to assist.

OECSBusinessFocus Nov / Jan

|

27

FEATURE

OECSBusinessFocus Nov / Jan

|

28

www.oecsbusinessfocus.com

• The Fastest Growing Economy in the OECS • An Award Winning Tourism Destination • Attracting Major International Investment Projects • Home to the most Modern Airport in the Region

OECSBusinessFocus Nov / Jan

|

29

The Economic Performance of Antigua and Barbuda

June 13, 2014 to October 31, 2015

By Honourable Gaston Browne Prime Minister and Minister of Finance

W

ithin 24 hours following the Thursday, June 12, 2014, general elections, I signed an agreement with the YIDA International Group valued at US$2 billion dollars. Immediately after the swearing-in ceremony of the Prime Minister and the Attorney General, on the morning of June 13, 2014, I traveled to the Prime Minister’s Office where negotiations with Yida International commenced in earnest. By 5:00 pm on that Friday afternoon, we had hammered out an agreement that was made public. The story went viral because of the unusual series of events.

Pearns Point Development

Yida International Group Since that affair, one year and four months ago, Yida International has purchased land costing more than US$80 million dollars, and has also spent several millions more on engineering studies, architectural renderings, and environmental studies.

The agreement, just as I had asserted, was real. The outcome has put to shame the naysayers who publicly declared that Yida International was a sham.

The principals of Pearns Point Development—an intended enclave of very wealthy homeowners—came to the table to sign a US$35 million dollar agreement. The developers have since hired more than 50 workers who are busy planting ducts and cables, building sidewalks and roads, and gutters to take rainwater runoff safely to designated sites.

Re-development and Enlargement of the Port

For five months following the Yida signing, the international press continued to buzz with the story of the new Antigua and Barbuda Government whose leaders were intent on turning their small state into “an economic powerhouse.” Several investors descended upon the capital, St. John’s, eager to reap the rewards that seem to await the picking.

OECSBusinessFocus Nov / Jan

|

30

In that same June 2014 month, the flagship project which I touted during the general elections began to take form. The China Civil Engineering and Construction Company (CCECC), vied to have the China Ex-Im Bank provide the US$97 million dollars required for expansion of the seaport. I sold the Antigua and Barbuda electorate on a larger cruise port that could accommodate the largest cruise ships; to be supported by a very large cargo port that could serve as a hub for regional transshipment of goods. I also wanted the neighborhoods adjoining the port to look far more welcoming than they now do. The probability of success began to take form. Months later, the agreement was inked and work on an expanded port will begin in early 2016. Work has already begun on the building of new houses in the same adjoining neighborhoods. www.oecsbusinessfocus.com

Morris Bay Development A month later, in early October 2014, I welcomed the representative of a wealthy Sheik to Antigua on a Sunday. He flew from London to spend three hours on Antigua in order to see Morris Bay. He was so impressed that he indicated a willingness to move forward immediately. No dithering. We later entered into a Memorandum of Understanding for US$120 million. As recently as mid-October 2015, he was back again to reaffirm the Sheik’s continuing interest. The engineering studies, the architectural renderings and the Environmental Impact Assessment are being complete. After all, the residents of Old Road and the surrounding villages wish to know that development will not exclude benefits to them. They have been reassured.

That CCECC agreement is remarkable for the fix it provided to sweep the channel and turning basin, within months of signature.

The channel and basin after two decades had become clogged with silt, and the cruise-liners demanded the sweeping in order to continue to call in the Winter Cruise Season of 2014. The CCECC advanced the US$4 million required to complete that job. The previous administration had entered into a very costly contract with another engineering group. My Government decided to allow that group to keep the mobilization fee it received, but not to allow it to fulfill its contract obligations; the cost was clearly excessive. CCECC is already moving on the port expansion, and in less than two years, the expanded port will be ready to receive the largest ships.

The Hodges Bay Club In July 2014, Vitaly Kryuchkov signed an agreement to purchase the unfinished Hodges Bay Club. He met with the technicians and me, and indicated his willingness to spend US$50 million to rehabilitate the derelict hotel and to cause it to become functional. The partly-built structure sat there unfinished for six years, following the collapse of the Norwegian bank that financed its partial development. Work has started on its redevelopment though Hurricane Gustavo, a year ago, caused the rebuilding to slow to a crawl; the number of workers there today has increased greatly.

Robert DeNiro and James Packard and the Paradise Found Resort On November 20, 2015, the Government of Antigua and Barbuda signed another agreement with another developer that also caught the attention of the global media. This time, Robert De Niro, the famous American actor, and James Packard the son of Kerry Packer, agreed to resuscitate the decrepit and shuttered K-Club on Barbuda. They would spend more than US$250 million dollars to expand the hotel to be named the Paradise Found Hotel, build a golf course, invest in a new runway and hangars to accommodate private jets, and will likely build a proper finger pier to receive the hundreds of containers that will be shipped to Barbuda with construction materials, furnishings, and equipment.

The project will transform the Barbuda landscape and the economic possibilities for Barbuda youth.

Goat Head Hill and Dutchman’s Bay In August 2014, Goat Head Hill and Dutchman’s Bay developers sought a joint venture with the Government. They planned to spend upwards of US$20 million dollars to create new luxury living quarters, relying principally on the Citizenship By Investment real estate option to finance the twin developments.

The Marvels of Sun Wing In September 2014, the Sun Wing Group out of Canada began discussions to purchase the Royal Antiguan Hotel and to build a hotel of matching size across the lagoon from the 26 year-old property. They guaranteed filling both by the vertically integrated system that saw them operating travel agencies, tour operators, an airline and hotels. Sun Wing promised to spend US$75 million on the construction alone. Although the purchase of the Royal Antiguan Hotel has not been consummated, the construction of a matching project across from it has moved forward. This project will generate more than 500 jobs in the construction phase and nearly twice that many in the operational phase.

The people of Barbuda gave their blessings to this project by a vote. However, those who wish to be economic saboteurs, with political motives, have sought to block the project’s advance.

I have therefore asked the Parliament to pass into law The Paradise Found Project Law 2015. The delaying tactics have not deterred the developers and the Parliament has moved forward on adopting the law, making certain that the project becomes a reality.

The building of hundreds of new homes every year, generating jobs and economic activity, contribute significantly to the Administration’s development goals. The National Housing and Urban Development Corporation has built many new homes.

OECSBusinessFocus Nov / Jan

|

31

Economic Assessment of the New Projects

Conclusion

These eight hotel projects and the port re-development project constitute more than US$3 billion dollars in potential capital flows into Antigua and Barbuda. The end result of this increased flow will be growth in the gross national product (GNP); an increase in total consumption, both private and government; and increases in gross capital formation as construction booms, resulting in expansion of transport and other equipment uses.

In 2014, the estimated value of GDP at factor cost stood at EC$2,945,870,000.00. The estimated growth of GDP for 2015 will very likely exceed the 2014 year by 2.5%, or will bring the GDP closer to EC$3,019,500,000. Growth of 2.5% in Antigua and Barbuda will be greater than in any Commonwealth Caribbean country, and maybe greater even than each of the countries in the hemisphere. Additionally, given the continued impact on the economy, economic growth will be exponential in future years.

As Antigua and Barbuda moves towards the celebration of 35 years of independence in 2016, the prospects for the future are great.

Tourism arrivals will also increase as new airlines begin discharging additional passengers at the new air terminal, opened on August 20, 2015. Jet Blue, SunWing, and other carriers from South and Central America will also be flying into Antigua. Private aircraft will also be utilizing the new runway to be constructed in Barbuda.

The cost of airline tickets from the USA has fallen precipitously as the competition increases, and the destination becomes more attractive to the bulk of the passengers who ride behind the first class cabin. It is anticipated that the total of arrivals by air will surpass 750,000 by 2019. The number of cruise arrivals by that date will likely exceed 1,000,000 cruise tourists.

OECSBusinessFocus Nov / Jan

|

32

More jobs will be created, eliminating the high unemployment which decimated the promise of youth during the ten preceding years.

The number of business start-ups will also increase as the Government funds the Antigua and Barbuda Development Bank, the National Development Fund, the Women’s Development Fund and several local projects get started.

The Citizenship by Investment Programme will continue to yield appreciable returns during the coming years, and the replenishment of the fund which it supports will continue to be used to draw down the national debt, as well as to meet expenses when other sources cannot provide.

The gradual elimination of personal income tax will begin with a reduction in 2016 and, by December 2017, personal income tax will end, as was the case prior to April 1, 2005. The steps to be taken will show responsible and innovative governance, relying upon taxes on consumption, not income.

Transparency and integrity will continue to characterize my administration, and business will flourish in an environment that levels the field among all economic players. Antigua and Barbuda is on its way to becoming an economic powerhouse.

www.oecsbusinessfocus.com

Hon. Asot A. Michael Extends a Warm Welcome to Our Guests to Experience all That Antigua Barbuda has to Offer

O

n behalf of the Government and People of Antigua & Barbuda, I would like to extend a warm, Wadadlistyle welcome to our beautiful shores. Thank you for making the ‘Gem of the Caribbean’ your next vacation and/or business-travel experience.

As it relates to not only Tourism, but also Economic Development, Investment and Energy, the key message that I bring to you is that Antigua and Barbuda is open for business. There is no question about it, attracting Foreign Direct Investment is key to the Government of Antigua and Barbuda’s economic strategy. With revamped legislation and formulated policies to make it more attractive for businesses to operate in the country, the focus is clearly on securing more global investment. This will improve the economic prospects for our people and transform our twin-island nation into an economic tiger of the Caribbean.

Building on the destination’s strengths such as its natural beauty, mild weather, economic and political stability, a central Caribbean location, ease of doing business and a well-educated workforce, the Government of Antigua & Barbuda has identified Tourism and Financial Services as priority investment sectors. These are to be complemented by Business Support Services, Education and Logistics.

If you are visiting on vacation, you will soon see that there is so much in store for you in Antigua & Barbuda and I encourage you to explore both of our islands, as they each offer two distinctly unique experiences. With our wide array of accommodations, we are confident that we you will find somewhere to fit anyone’s taste and budget.

In Antigua, take advantage of the many land and sea tours available in order to become personally acquainted with the beauty of our

island. You can swim with the stingrays, snorkel, kayak, kite surf, or zip through the air amongst lush rainforest. Let your imagination run free, as the sky is truly the limit here!

Dining in Antigua and Barbuda is certain to be an unforgettable pleasure. Sample our delectable cuisine, ranging from the spiny lobster to a succulent snapper or a few slices of our naturallysweet, Antigua black pineapple.

For secluded relaxation, take a trip over to Barbuda our beautiful sister isle, where our 17 miles of unbroken beach and beautiful pink sand beckon you to tranquility and provides the perfect antidote to stress. The quiet warmth of the people will make you feel right at home. While there, don’t forget to sample the delicious Barbudan lobster that is truly second to none.

Whatever your desire in a vacation or business trip, I can guarantee that there is something to satisfy you in Antigua and Barbuda. Our sumptuous cuisine, rich heritage and culture are all waiting to be explored by you. Slow down and savour them, for an unforgettable vacation experience.

We wish you an unforgettable stay in Antigua & Barbuda and that you leave with only warm memories of your time with us.

Sincerely,

Minister of Tourism, Economic Development, Investment & Energy

OECSBusinessFocus Nov / Jan

|

33

Chief Executive Officer of the Antigua & Barbuda Tourism Authority Colin C. James

W

elcome to the beautiful twin-islands of Antigua and Barbuda! Here you will find a country of stunning beaches, lush scenery and friendly, hospitable people. We invite you to experience our unique Antiguan and Barbudan charm and hospitality. From the moment you step into our new airport terminal until that final swim before leaving our sun-kissed shores, you will experience warm memories that will last a lifetime.

Antigua and Barbuda has to offer a wide range of accommodations - from the ultra-exclusive, luxury resort to the all-inclusive villa or inn - many of them fully-equipped to accommodate persons who have travelled for business and pleasure. Whether a romantic resort or a charming escape to a villa or inn, or even a downtown conference hotel, we can help you create either a “home away from home” experience or to facilitate a productive work travel experience.

While we really do boast 365 of the best beaches anywhere in the world, there is still so much more to see and do. If excitement is what you seek, take a zip through the rainforest, go kite surfing or simply kayak through a South Coast mangrove for an unforgettable experience.

So you see, everything has been carefully planned, not only for your comfort and enjoyment, but also for the successful execution of business meetings, conferences, workshops etc.

You can also take a step back in time by visiting one of our many historical sites. Popular among visitors and locals is Nelson’s Dockyard, the world’s best-preserved Georgian Naval dockyard which is still in operation today, with some of the best sailing in the Caribbean.

Be sure to sample the delicious, local cuisine which is a great way to interact with us during your visit. If your stay is around the end of July to the beginning of August, you will experience the grand celebration of the 60th Anniversary of the Caribbean’s ‘Greatest Summer Festival’ – Antigua and Barbuda’s Carnival!

You will be mesmerized by all the colourful bands, bangles and beads and stand in awe at the kaleidoscope of vivid costumes and the pulsating rhythms of the bands parading through St. John’s city in a cultural celebration of our heritage.

OECSBusinessFocus Nov / Jan

|

34

You have heard it all, now it is time to experience true paradise. We invite you to experience one of the most charming and memorable Caribbean destinations for a truly unforgettable vacation or business travel experience.

Do enjoy your stay here with us in Antigua and Barbuda and we look forward to seeing you again very soon.

Sincerely,

CEO, Antigua and Barbuda Tourism Authority

www.oecsbusinessfocus.com

OECSBusinessFocus Nov / Jan

|

35

WHAT YOU NEED TO KNOW ABOUT ANTIGUA AND BARBUDA! Location Antigua & Barbuda lies 17 degrees north of the equator, approximately 1,425 miles south-east of Miami and 4,076 miles south-west of the United Kingdom. These fine islands, with a combined area of 170 sq. miles, form part of the Leeward Islands in the North Eastern Caribbean.

They are strategically located in the centre of the Caribbean islands, with neighbouring islands Montserrat to the southwest, St. Kitts and Nevis to the northwest, St. Maarten to the north and Guadeloupe to the south.

Washed almost exclusively by the Caribbean Sea, Antigua’s 108 sq. miles are encircled by 95 miles of indented coastline while Barbuda’s 62 sq. miles are surrounded by reefs, with a large lagoon on the northwest side. The islands are best known for their 365 fine white and pink sandy beaches.

Climate and Geography Antigua & Barbuda has a near perfect climate. The weather is mildly tropical with low humidity year-round.

Temperatures generally range from the mid-70s in the winter to the mid-eighties in the summer. Annual rainfall averages only 45 inches; making it the sunniest of the Eastern Caribbean Islands and the northeast trade winds are nearly constant, flagging only in September.

OECSBusinessFocus Nov / Jan

|

36

www.oecsbusinessfocus.com

HOW TO GET HERE From USA: American Airlines flies daily from Miami and daily from JFK, New York.

United Airlines flies up to ten (10) times per week from Newark.

US Airways flies weekly from Charlotte, North Carolina.

Delta Airlines flies from Atlanta and from New York.

JetBlue Airlines will offer a three times a week direct service from JFK, New York.

Seaborne Airlines flies four times a week direct from Puerto Rico (starting December, 13).

From Canada: Air Canada flies three (3) times a week from Toronto and once weekly from Montreal.

WestJet Airlines flies twice weekly from Toronto.

From Europe: British Airways flies daily from London Gatwick, while Virgin Atlantic also flies four (4) times weekly from London Gatwick.

Thomas Cook Airlines flies once weekly from Manchester, Condor once weekly from Frankfurt, Germany and Alitalia once weekly from Milan and Malpensa.

From Caribbean: LIAT Airline has thirty (30) daily flights throughout the Caribbean region.

Caribbean Airlines has twice weekly flights.

Seaborne Airlines flies four times a week direct from Puerto Rico (starting December, 13).

Tourism Tourism dominates the national economy and is the most important source of foreign exchange and foreign direct investment in Antigua & Barbuda. It underpins the country’s economic growth accounting for more than two thirds of GDP, 40 percent of investment and more than half of the island’s employment opportunities.

Market Total Visitors United States 95,332 Canada 27,701 United Kingdom 71,193 Other Europe 20,084 Caribbean 31,645 Rest of World 3,361 OECSBusinessFocus Nov / Jan

|

37

TOURS AND ATTRACTIONS Antigua offers a wealth of activities and attractions for visitors interested in exploring beyond the island’s beautiful beaches.

Some of the most scenic areas of this destination can be found in Antigua’s National Parks and heritage sites. Some of the restored areas include:

Betty’s Hope Betty’s Hope is located in the St. Peters area with beautiful views overlooking the landscape. The plantation was founded by Governor Keynell in the 17th Century. It was handed over to the Codrington Family in 1674 after the British reoccupation of Antigua following the French invasion eight years prior. Betty’s Hope flourished in the years of the sugar revolution and was home to several people including European managers who supervised the activity on the Estate as well as hundreds of Africans who lived out their lives on the estate initially as slaves, then as labourers after emancipation in 1834.

Dockyard Museum The Nelson’s Dockyard Museum is laid out within the Naval Clerk’s House in the Centre of Nelson’s Dockyard, highlighting its history and serving as a centre for archaeological environmental and historical research in Antigua. There is a gift shop in the museum stocked with interesting items relevant to Dockyard and Antigua’s history and there is a research library which holds books on the navy and old accounts of Antigua. There is also an archaeological library available to researchers.

OECSBusinessFocus Nov / Jan

|

38

www.oecsbusinessfocus.com

The Picturesque Jolly Harbour

Nelson’s Dockyard Nelson’s Dockyard is the only continuously working Georgian Dockyard in the world. It is still used today as a working Dockyard for various yachts and ships throughout the year. The buildings on the site have been fully restored and are used to house amenities such as shops, hotels and marina businesses. The site which is the largest of Antigua’s national parks has hiking trails which allow visitors to view the park’s beautiful scenery.

Museum of Antigua and Barbuda Originally opened in 1985 in the old St John’s Court house, the Museum of Antigua and Barbuda holds exhibits which tell Antigua’s story from its geological origins to its political independence. The Museum which is operated by the Historical and Archaeological Society is dedicated to “preserving and expressing the island’s heritage” and welcomes the input of all those interested in doing so. It is also dedicated to education and research of the nation’s heritage.

Devil’s Bridge Devil’s Bridge, located at the North Eastern point of the island known as Indian Town Point. Here is an example of sea water erosion where a bridge was created when the limestone ledges of the Antigua formation were eroded away by the water from the tides over several centuries. According to Antiguan legend, Devil’s Bridge was a known location for slave suicides.

Barbuda Spending a day in the sister isle of Barbuda is just as magical as spending a day in Antigua. From Barbuda’s Pink Sand Beaches to the Frigate Bird Sanctuary, Barbuda is for visitors in need of the ultimate escape. With a population of around 2000 people Barbuda is the perfect place to relax, think and let go.

OECSBusinessFocus Nov / Jan

|

39

Port St John’s

CRUISE ANTIGUA & BARBUDA

T

he Cruise Industry within Antigua & Barbuda has received a rejuvenated focus, as Government has made it a key part of its destination strategy to position Antigua and Barbuda as the marquee destination within the Eastern Caribbean for cruise visitors across all cruise-line partners. This is to be achieved by continuing the efforts to improve and diversify the islands’ tourism product to enhance the visitor experience on island and to ensure the cruise lines increase their calls to the destination.

To ensure this becomes reality, the St. John’s Development Corporation has avidly begun a process to regenerate the port facilities, heritage sites, land-based facilities, shopping, transportation services, and taxi services throughout the surrounding St. John’s City environs. The first phase of the rejuvenation of the City of St. John’s started with the St. John’s Harbour, which has been swept and swept and successfully dredged to accommodate larger cruise vessels. The news that the dredging project was completed in record time - a matter of months after the new administration took office - was well received by cruise-line partners throughout 2015.

Development plans for St. John’s Harbour also include the extension of the piers to accommodate the larger vessels, along with the construction of an additional pier to enable up to six (6) ships to be berthed simultaneously. The development also comes with the added benefits of new high-end shopping and facilities such as a cruise passenger terminal to position the destination to take advantage of home-porting opportunities.

Antigua and Barbuda is actively pursuing opportunities to be a home port with several European-based cruise lines, in an effort to diversify its cruise ship offerings. With the country’s new international airport capable of handling up to two million passengers a year, the enhanced port facilities would see the destination poised to become a home port where cruise ships can start and end their itineraries in Antigua.

With the dredging completed, and further plans to improve the port facilities are underway, Cruise Industry confidence in the destination of Antigua and Barbuda has been restored and for the 2015/16 winter season, another four (4) to five (5) new cruise ships will be calling in Antigua for the first time.

OECSBusinessFocus Nov / Jan

|

40

New Cruise Lines include: • • • • • • • •

P&O Cruise Lines – Brittania Aida Cruises - Aida Amar Costa Cruises - Costa Favalosa Viking River Cruises - Viking Star Tui Cruises - Mein. Schiff 3 Carnival Cruises - Carnival Sunshine Norwegian Cruise Lines - Norwegian Breakaway - NCL’s second largest cruise ship that will be making an inaugural call to Antigua on January 13, 2016 with 4,500 passengers.

Royal Caribbean Cruise Lines – Azamara: returns to Antigua and Barbuda after an absence of five years. Antigua and Barbuda will have the best cruise season ever for 2015/16 from RCCL, with passenger arrivals hitting a record at 216,314.

Cruise Statistics

At the end of 2014, the destination recorded 536,055 passengers from 313 cruise ship calls overall. With the new cruise lines to visit this year, the destination is indeed on target to reaching the 700,000 passengers mark by the end of 2015.

Cruise Sector Plans for the Future

The Government of Antigua has signed a $255 million deal with China Civil Engineering Construction Corporation (CCECC) to renovate the island’s main port and harbour. CCECC will modernize the downtown St. John’s port and harbour.

Cruise Barbuda

Barbuda, located north of Antigua, is a specially-designated, ecofriendly destination of 61.99 square miles that has implemented a successful approach, similar to other smaller, up-market destination islands, such as St. Barths, where they only allow small cruise ships to berth offshore and tender their passengers to the beach.

This is also part of the destination strategy to aggressively market Barbuda to the smaller Cruise Lines. This started successfully with Club Med and now, for the first time, a record 12 cruise ships called to Barbuda for this season. This is a niche market within the cruise sector that is expected to see increased success. Other small luxury cruise ships that call on Barbuda include: Black Watch, Windstar, Wind Surf, and Club Med. www.oecsbusinessfocus.com

OECSBusinessFocus Nov / Jan

|

41

OECS NEWS FEATURE

LUXURY PROJECTS

HIGHLY ANTICIPATED TO BOOST TOURISM AND CREATE JOBS

T

he twin-island nation of Antigua & Barbuda has always been a leader in the tourism industry, being one of the first nations within the Caribbean to make Tourism a key economic pillar. Tourism in Antigua & Barbuda was born in the 1960’s, and the country boasts a mature tourism and hospitality product.

Tourism accounts for approximately 80% of the islands’ gross domestic product (GDP), and has recently been coupled with the islands’ foreign direct investment and Citizenship by Investment programmes, to encourage increased investment, as well as visitor arrivals to the destination.

Antigua & Barbuda’s topography offers a spectacular coastline, making it world-renowned for its sailing and yachting. These beautiful twin isles which are enveloped by their acclaimed 365 white & pink sand beaches are dotted with luxurious resort locations that are rated among some of the best in the world.

Antigua and Barbuda is known for its upscale properties and first-class hotels, with the most renowned being, Jumby Bay – A Rosewood Resort, Carlisle Bay, and Curtain Bluff. While other notable hotels and villas include: Hermitage Bay, Blue Waters Resort, The Inn at English Harbour, Admiral’s Inn, Nonsuch Bay & Villas, Daniel Bay Development, Tamarind Hills, Pearns Point, Rendezvous Bay, and Galley Bay Heights Villas.

Luxury Restaurants and Bars include: From the romantic setting of the award-winning Sheer Rocks, to the hilltop vistas of Sugar Ridge’s Carmichael’s, or the eclectic waterfront setting of the Pillars restaurant at the Admiral’s Inn, located in historic Nelson’s Dockyard, Antigua’s restaurants have some of the finest cuisine ranging from West Indian zest to International fare, and offering a wide variety from which to choose.

These include: PEARNS POINT A US$300 million investment which broke ground in 2014. It will include 70 resort condominiums, 70 exclusive residential villas and a 5 star hotel.

YIDA DEVELOPMENT SINGULARI: Yida International Investment Group will invest approximately US$2 billion in a mega-resort development on Antigua to be known as Singulari, on 900 acres on the island’s northeast coast and 700 acres of islands. Construction is set to begin shortly. The project will transform the 455-acre Guiana Island (just south of Jumby Bay Resort on Long Island in the North Sound) and surrounding islands and lands with the construction of several five-star hotels, 1,300 residential units, a hospital, a conference centre, two signature golf courses, an entertainment district, a horse-racing track, plus a marina and commercial, retail and sports outlets. Facilities also will include a Hard Rock Casino & Resort, which is being billed as the Caribbean’s largest.

ROBERT DE NIRO’S ‘PARADISE FOUND’ IN BARBUDA Actor Robert De Niro signed a Memorandum of Agreement in November 2014 for a US$250 million hotel investment in Barbuda. De Niro and Australian businessman James Packer will help renovate and expand a former five-star luxury resort that closed several years ago.

In addition to what’s already there, a range of new modern developments are also planned for the country.

OECSBusinessFocus Nov / Jan

|

42

www.oecsbusinessfocus.com

BARBUDA BELLE The destination’s newest hotel is a US$2 million eco-friendly investment, offering guests the opportunity to enjoy eco-luxury on one of the greenest islands in the Caribbean. The seven-unit facility will be expanded to 15 in the next three years.

SANDALS BEACHES RESORT Sandals Resorts International (SRI), parent company of Sandals Resorts, Beaches Resorts and Grand Pineapple Beach Resorts, announced in December 2013, the building of a brand new Beaches Resort in Long Bay. Beaches Antigua, will boast 1-4 bedroom rooms and suites, up to 12 restaurants, conferencing facilities and a wide range of exhilarating and unique features that include a water-park, cinema, Xbox Play Lounge and BMX track. The new US$150 million Beaches Resort by Sandals Resorts International at Long Bay will provide up to 400 rooms.

THE SUNNY HILL GROUP has announced a US$200 million investment project in Antigua and Barbuda. The 400-unit project will be located on a 100acre site in the Falmouth and Bethesda areas of Antigua. Sunny Hill Group is a new company founded by Caribbean Trust Immigration Services, a promoter of the country’s Citizenship by Investment Programme based in Dubai, in a joint venture with Canada-based Stuart Investment Management.

THE REPLAY GROUP out of Canada has confirmed plans to take over the defunct Half Moon Bay Hotel.

THE CALLALO BAY PROJECT A Memorandum Of Agreement was signed in July 2014 with Sheik Tariq Faisal Alqassemi of Dubai, for a 5 star luxury hotel project valued at US $120 million This project will include a Public National Park for residents.

SUN WING GROUP The Government has signed an agreement with US $400 million the Sun Wing Group Sun wing Group out of Canada to build an additional five-star hotel on adjacent property to the Royal Antiguan. The project will see the construction of a “Royalton” hotel complex with 500 rooms, multiple restaurants, a casino, disco, full service spa, tennis courts and theatres. It will also include the US$50million construction of 200 mixed-use condominiums.

Antigua & Barbuda is also a Celebrity Hotspot Antigua and Barbuda is the playground of the rich and famous, attracting celebrities including Cameron Diaz, Nicole Scherzinger, Giorgio Armani, Eric Clapton, Paul McCartney, Pete Townshend, Robert De Niro, Mariah Carey, Mary J. Blige, Charlotte Church, Piers Morgan, Duran Duran, and Sir Ben Ainslie.

Shopping Well-recognised luxury brands can be found in Antigua’s wellknown Heritage Quay Duty Free District, while Redcliffe Quay is favoured for its historic charm, al fresco cafes, and independent

designers, with unique boutiques specializing in one-of-a kind items. New developments are also planned for Heritage Quay, enhancing the shopping experience for visitors to Antigua.

Luxury Activities Sailing: The islands’ Flagship event is the well-established Antigua Sailing Week, but there are many other events including: the Round the Island Race and Super Yacht Cup Antigua, a Valentine’s Day Regatta and the RORC CARIBBEAN 600 YACHT RACE, International Laser Open and the Antigua Classic Yacht Regatta. For more information visit: www.abma.ag

Yachting and Yacht Charters Antigua and Barbuda is the mecca of Caribbean yachting.

We boast the best sailing conditions and the finest first class landslide yachting facilities in the region. From refitting and refurbishing to provisioning, expert services with worldrenowned reputations are available here.

Other Activities: Deep Sea Fishing; Helicopter Tours; Golfing; Diving; Art Galleries, Rainforest Canopy Tours.

Cruising Antigua and Barbuda currently caters to small luxury cruise ships to include Black Watch, Windstar, Wind Surf, and Club Med.

Bizjet-to-Yacht Services Companies are able to provide upscale services, signalling Antigua and Barbuda’s preparedness to cater to and attract the luxury traveller. Signature Antigua (ANU) offers customers an executive terminal, lounge, offices and two private jet hangars.

Experience Antigua and Barbuda’s Calendar of Events: January: Superyacht Challenge Antigua, www.abma.ag February: Jolly Harbour Valentine’s Regatta, www.abma.ag February: RORC Caribbean 600 Start, www.abma.ag April: Antigua Classic Yacht Regatta, www.antiguaclassics.com April: Antigua Sailing Week, www.sailingweek.com May: Antigua Tennis Week at Curtain Bluff, www.curtainbluff.com May: Barbuda Caribana, www.visitantiguabarbuda.com May: Antigua and Barbuda Marlin Classic, and Sport Fishing Tournament, www.abma.ag July-August: Antigua’s Carnival (60th Anniversary Celebrations, 2016), www.antiguacarnival.com September: Francis Nunes Jr. Fishing Tournament, www.abma.ag November: Independence Day & Celebrations, www.visitantiguabarbuda.com November: Nonsuch Bay WineStock, www.nonsuchbayresort.com December: Antigua Charter Yacht Show, www.antiguayachtshow.com

OECSBusinessFocus Nov / Jan

|

43

New Terminal Building V.C. Bird International Airport

AIRPORT OFFICIALS CELEBRATE THE OPENING OF A NEW TERMINAL

T

he opportunity to witness the opening of a brand new International Airport Terminal is a seminal moment in the history of a country and its people.

Indeed, the opening of the new and expanded V.C. Bird International Airport Terminal presents a new opportunity for a paradigm shift from the old habits of doing business at the old terminal.

This new terminal is to represent the vanguard of the nation’s security and hospitality. It is where, for the most part, the country has the opportunity to create a lasting memorable impression to our nationals and visitors travelling in and out through this magnificent structure.

The ABAA Board of Directors welcome our many nationals and visitors to our home, and as stakeholders all, we must be mindful of our tremendous responsibilities as Ambassadors for our country.

To surpass the expectations of our nationals and visitors alike, it is here that particular emphasis is placed on our Security Personnel, Immigration and Customs Agents to play their important roles ensuring that the first and the last impression is exemplary.

V.C. Bird International is not just a port of entry and exit, but the driving force behind all our commercial and economic activities.

With our dependency on tourism, it is critical that we get it right in our interaction with our guests.

OECSBusinessFocus Nov / Jan

|

44

Without an invigorating, new approach and changed attitudes, we will be left with an excellent, modern structure without the accompanying heart and soul of our young nation, hoping to excel and prosper in a competitive global market.

With renewed energy, let us brand this new facility with the grace, humility and service that exceed the expectations of all.

The Antigua and Barbuda Airport Authority (ABAA) is delighted to be the management team engaged in the construction and commissioning of the new passenger building.

The three-year odyssey to build the terminal has been challenging but exciting. The project has undergone a number of design changes, main among them being the merge of the electrical distribution centre and the air conditioning centre to form the energy centre; the addition of a fixed connector and the construction of a sky bridge.

With 23,000 sq. metres of operating space, the terminal boasts 46 Common Use Terminal Use Equipment counters, 15 selfcheck kiosks, four loading bridges, state-of-the-art hold baggage screening equipment and conveyor system, as well as a plethora of retail spaces.

This herculean task of completing the building within such a short timeframe would not have been possible without the marvel of the China Civil Engineering Company (CCECC), the guidance of the www.oecsbusinessfocus.com

Ren Gongping, Chinese Ambassador to Antigua & Barbuda

ABAA’s technical team and the support of ABAA’s management team and staff. The ABAA”s technical visit to China and the reciprocating CCECC’s engineers design team visit to Antigua propelled this fast paced construction.

As the construction drew close to completion, the transition team was formed. With the opening now a reality and the construction and commissioning journey completed, the operation and maintenance journey has just begun. The ABAA team is excited, energized and ready to take the VCBIA further on to a path to delivering on its vision to be “the Airport of Choice to the Eastern Caribbean and Beyond.”

Ren Gongping, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Antigua and Barbuda. (image) The new airport terminal will surely play a very important role in stimulating the development of the tourism industry and national capacity building of Antigua and Barbuda.

This terminal is meaningful for China: It is the symbol of the deepening process of cooperation between China and Antigua & Barbuda.

Please note that two Fast Track / Express services are currently offered at the Airport Authority 1) Fast track - Passengers who book this service will be met

at the arrivals area and escorted through the Immigration and Customs process, with little or no waiting in line. Then unto the transfer desks or taxi dispatch area.

The cost for this expedited service is $USD40.00 per passenger.

There are also specials available for families of 4 and Honeymooners.

2) VIP - In the case of VIP passengers, they would be processed through the VIP Lounge here at the airport, inclusive of light refreshments at a cost of $USD60.00 per passenger, while their passports/travel documents and baggage are being processed, after which, they will be escorted to their awaiting taxi or transfer.

In order to book either of these services, the passengers travel date and flight information are required.

Please note that this service is available all-year round.

During the peak period of the construction of this project, there were 400 technicians working together, including 250 Chinese and 150 locals. I would like to express my appreciation to all the people and concerned departments devoted to this great project, among them are the CCECC which undertook the design and construction of the project; the Chinese government which offered 90 million RMB of interest-free loan and the Export and Import Bank of China which offered 490 million RMB of concessional loan, and, especially, the government and the people of Antigua & Barbuda who supported the project firmly from the very beginning.

OECSBusinessFocus Nov / Jan

|

45

The Antigua and Barbuda Airport Authority

Q & A ON THE NEW V.C. BIRD INTERNATIONAL AIRPORT TERMINAL The new terminal, at the V C Bird International Airport opened in August, 2015. The new facility is fully air conditioned with modern structures, featuring extensive retail space, genuine duty-free shopping, a food court and comforts such as Wi-Fi Internet Access, multiple VIP rooms, and three first-class departure lounges.

The 247,570 square foot terminal will greatly improve the visitor experience with its twenty-six (26) check-in counters, twenty (20) immigration desks, and four (4) passenger air bridges, for ease and speed of boarding and disembarking flights. This state-of-the-art airport facility has a capacity of accommodating up to two million passengers a year and is poised to sustain future growth.

Q. How long did it take to build the new terminal?

A. Construction started in June 2012 for completion 24 months later. There was an extension of the Terminal Contract which extended the completion of construction to approximately April of 2015. Between April and the opening in August 2015, we did a number of trial runs to ensure a very smooth transition from the old terminal which is now used strictly for administrative work.

Q. How was the new terminal funded?

A. The US$100 million project was funded by a China EXIM Bank concessional loan, and by a Chinese Government Interest Free Loan.

Q. How many passengers arrived through the old airport in 2014?

And, how much greater is the capacity of the new terminal?

A. Total passengers in 2014 was 794, 748. This number is up 20,000 from 2013. The capacity in the new terminal building takes us up two and a half times the 2014 figure.

For out-bound passengers, there will be 12 positions and inbound passengers will have 20 available positions.

Q. Is VIP Fast Track Service provided?

A. The ABAA offers a fast track service at the cost of USD$40 per person; family package for three persons for USD$100 and; a family package for four persons at a cost of USD$120 and each additional person pays USD$10.

Q. Are there Executive lounges?

A. There are three lounges, a VVIP, VIP and an Airport Executive Lounge. The first two lounges are for government officials and diplomats. The Airport Executive Lounge is a pay-per-use lounge provided and operated by Antigua and Barbuda Airport Authority. The cost to use the Lounge is $60 per person.

Q. Are there FBO facilities available?

A. Signature Antigua (ANU) offers an Executive Lounge, Offices, Hangars and an aircraft to yacht service

Q. What are our expectations or arrivals for the next 12 months at the new terminal? Are there any new airlines that have come on board?

Q. What are the shopping and dining options at the new airport terminal?

A. A new building doesn’t mean an increase in passenger arrival.

The only new airline is Jet Blue and they will be operating three (3) days a week. All the other carriers will be operating the same schedule as last winter.

A. There are approximately 30 units available for shops and Kiosks. Dufry, Colombian Emeralds, Café Britt, Café Player, Subway are the five international Brands. The new terminal will also soon hold four restaurants and one bar

Q. What is the minimum immigration processing time expected in the new terminal?

Q. Does the new terminal cater to persons requiring special assistance?

A. Immigration speed in the current terminal is about 2.5 min per passenger. This is caused by several factors, Congestion, number of officers. The operations in the new terminal should be much improved. In the recent simulation held on July 2, Immigration clocked processing time of departing customers as 20- 30 seconds and arriving passengers at 30-45 seconds.

A. The new terminal caters to visually and physically challenged persons - All vertical movements are facilitated by elevators, escalators and/or ramps.

Q. How many Immigration positions will be available in the New Building?

A. Overall, there will be 32 Immigration positions available in the new terminal.

OECSBusinessFocus Nov / Jan

|

46

Q. Is the new airport energy efficient?

A. Plans are afoot to ensure this is a reality by the Government’s installation of a 3MV Solar Farm on the premises of the Airport to assist with the energy needs of the new terminal. In addition, the light in the terminal building, along the access roads and car park are all solar powered. www.oecsbusinessfocus.com

E

an endearing quality

Providing the perfect balance of world class banking services, security and convenience, for over 30 years.

Now issuing

Personal Banking Wealth Management Online Banking Electronic Commerce Solutions Global Remittance Services Global Banking Solutions

Global Commerce Centre Old Parham Road P.O. Box W1803 St. John’s, Antigua, West Indies Tel: (268) 480-2240 Fax: (268) 462-1831 email: customer.service@gbc.ag www.globalbankofcommerce.com

the sweetest way to pay SugaPay is a payment system designed and powered by Global Processing Centre, Ltd. (GPC) and is intended to serve as an enabler for financial institutions to operate a low cost but secure and convenient financial eco-system and payment architecture for the delivery and capture of payments.

Our SugaPay solution is based on two main flavours: The SugarCUBE mPos Capture System and our SugaPay Prepaid Card.

Offering modern turnkey processing solutions for financial institutions, merchants and service providers, we integrate industry proven technologies with years of experience in the financial, operational and compliance sectors.

• Settlement & Clearing Gateway • Ecommerce • Terminal Driving • Mobile Payments • PCI DSS Certified • Fraud Management

SugaCUBE mPos System

SugaPay Prepaid Reloadable Card

Contact us at:

Visit us at:

Antigua: 1-268-562-6133 Trinidad: 1-868-482-7582 Email: info@sugapay.com

www.sugapay.com www.facebook.com/sugapay www.instagram.com/sugapay

Processing, perfected. www.gpcantigua.com info@gpcantigua.com OECSBusinessFocus tel: 1-268-562-6133

Nov / Jan

|

47

Antigua and Barbuda’s CIP, an Alternative, Reliable Source of Funding

W

ith limited grant funding and the existing borrowing constraints, two years ago the Government of Antigua & Barbuda ventured into a Citizenship by Investment Programme (CIP) as an alternative funding arrangement for public sector projects.

This programme seeks to help fund infrastructure, public sector and other national development projects. The agency responsible for implementing this programme, the Citizenship by Investment Unit (CIU), was officially opened to accept applications in October 2013 and was established as an entity separate from the general public service to secure the independence and operational efficiency of the Unit.

Its work is executed in strict accordance with the Citizenship

by Investment Act and seeks to ensure that the appropriate procedures are followed and reports provided to the public through the Parliament.

Under the Antigua and Barbuda programme, an applicant may receive a passport by making a US$400,000 real estate investment, investing US$1.5 million in a business venture, or contributing US$250,000 directly to a National Development Fund (NDF).

Before a passport can be issued, all applicants must undergo three separate and distinct stages of due diligence to ensure the long-term integrity and sustainability of the programme.

All the funds generated from CIP are to be put into a national development fund and to be used to improve domestic infrastructure, support small businesses, and encourage entrepreneurship – particularly among the youth.

The National Development Fund (NDF) is a non-profit fund that is subject to parliamentary oversight by way of a biannual (every six months) report to be presented to Parliament in sufficient detail to allow for transparency and accountability. The fund will also be audited by an internationally recognised accounting firm.

It is established under section 42(2) of the Finance Administration Act 2006.

OECSBusinessFocus Nov / Jan

|

48

Passports Issued

By Investment Category NFD

416

Real Estate

89

Business Investment

5

TOTAL

510

Business Investment 5

Real Estate 89

NDF 416

Total 510 www.oecsbusinessfocus.com

2013

2014

2015

Revenue

by Type Agent License Fees

Passport Stamp Fees

Application Processing Fees

54,000

202,500

210,600

25,110,000

610,200

246,240

272,700

48,997,188

456,840 23,833,188

135,000

REVENUE CATEGORY

2013

2014

2015

Revenue by Type

Passport Stamp Fees

-

246,240

210,600

456,840

1%

Agent License Fees

202,500

272,700

135,000

610,200

1%

Application Processing Fees

54,000

23,833,188

25,110,000

48,997,188

74%

Due Diligence Fees

122,650

7,993,350

7,703,100

15,830,100

24%

TOTAL REVENUE GENERATED

390,150

32,345,478

33,158,700

15,830,100

Total Revenue Generated Due Diligence Fees

390,150

133,650

32,345,478 7,993,350

65,894,328

15,830,100

7,703,100

33,158,700

OECSBusinessFocus Nov / Jan

|

49

Board Evaluations: The ‘Touchiest Subject’ in Corporate Governance

I

By Dr. Chris Bart

t’s a given today that good corporate governance begins with good directors. And in a previous article I talked about how the first step in making this happen is finding and recruiting directors who have the right competencies and mix of skills that will serve both the current and longer term best interests of their organization.

This requires finding those who demonstrate excellent business thinking and ethical judgment; who provide both foresight and insight; and who command respect as effective role models, management teachers and counsellors.

It’s not always easy but with patience and diligence it can be done.

So now, let’s say, you think you have such a board. One that you are convinced is made up of the “right stuff”. In fact, with such experienced and capable people at the table, you’d expect most boards would be “smokin”. Yet your organization’s performance is waning or lackluster and that’s not supposed to happen when you have a first class board made up of thoroughbred directors.

Accordingly, you wonder aloud: “Am I getting full value from my board and from each of my directors? Is my board an asset or a necessary evil?”

To answer this question, you have to turn to the governance tool that most observers believe holds the key to unlocking the unused talent inside your directors as well as addressing any deficiencies they may have: board and individual director evaluations.

OECSBusinessFocus Nov / Jan

|

50

While evaluating your board and its directors may sound fairly straightforward, let me assure you that if it is not done properly, the exercise is fraught with difficulties, personal frustrations, and sometimes outright board governance failure. If improperly executed, it can result in distrust and animosity among board members which in turn, spills over into the relationship the board has with its management.

The number one problem that organizations face when they broach the subject of board/director evaluations is the ugly fact that board members simply do not like to get evaluated. So, while we go to great lengths to establish individual accountability in all job positions throughout a typical organization, the Board of Directors somehow feels that it is immune and exempt from having to practice what they usually preach in the form of ‘corporate policies’.

As a result, the practice of conducting Board and director evaluations is not overwhelmingly embraced by boards of any kind. In fact, during his keynote speech at a NACD National Conference, Phil Laskawy, former CEO of Ernst & Young and Chairman of Fannie Mae blurted out: “Board evaluations are a waste of time.”

Moreover, a recent survey of over 500 public company directors (2/3 of whom were outside directors) found that only 17% rated their organization’s “Board and Director Evaluations” as being “highly effective”, with 64% claiming it was just “effective” and 19% confessing it was downright “not effective”.

There are many reasons for these results.

For instance, one 2014 survey observed that nearly 20% of directors find it difficult to be open and honest when evaluating themselves and almost 70% view see board and self-evaluations as no more than a “check-the-box exercise.” In other words, directors seem to regard board/ director evaluations largely as an exercise in compliance, and not as a sincere effort for ways to make themselves truly excellent and value-adding.

Dr. Chris Bart, FCPA is a recognized global governance authority, the author of two best sellers, and Co-Founder of the Caribbean Governance Training Institute.

The Institute is currently providing throughout the Caribbean an intensive 3 day corporate governance program leading to the prestigious 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 www.oecsbusinessfocus.com

Notwithstanding these observations, it is still incumbent upon every organization to determine whether its Board of Directors continues to have the competence and capacity to do its job as stewards, strategists, and “uber-supervisors” of its operations. Accordingly, conducting regular director and board evaluations is not just essential but critical to the long-term sustainability and success of an organization. This is why it is recommended in countless “best practice” guides and regulatory standards.

This article therefore aims to deepen your understanding of the practical methods currently available to help you and your board conduct meaningful and properly executed Board and director evaluations.

The Assessment Process The process begins with determining who will be evaluated and who will conduct the evaluation. Consideration also needs to be given as to how often evaluations should be conducted.

Let’s start with the board evaluation.

The goal in this instance is to assess the functioning of the board and the factors that contribute to board effectiveness.

A competent board evaluation would include a critique of: the quality and volume of the information that the Board receives; the appropriateness and time allocation of board agenda items; the effectiveness of the board chair; the adequacy of board and committee meetings; and the quality of the relationships and interactions among the directors and between the directors and management.

A great board evaluation would also provide an opportunity for the directors to comment on the effectiveness with which they’ve carried out all of the responsibilities and tasks that they (should have) previously listed in their formally written ‘terms of reference or ‘board charter’ document. And if you wanted to be truly ahead of the curve (which is what I do with those boards who hire me to conduct evaluations), you would fearlessly invite those members of the senior management team who have regular contact with the board to anonymously include their thoughts on the above items as well.

You know you have done an excellent board evaluation when the directors have named and agreed on the top five problem areas that emerged from the

evaluation. A board evaluation which concludes that “we have no problems” is typically the result of a very poorly designed process.

And then there is the matter of evaluating the contributions and performance of the individual Directors. Every board starts out thinking that they have recruited the best possible directors based on their track records, reference checks and qualifying interviews. But it is only once a director has been selected to join the board that you begin to realize you may have gotten someone different from the person you recruited, with that person turning out to be a pitbull, a micromanager, a wannabe CEO, a ‘lazy sod’ or worse, all of the above!

The goal of the individual director evaluations therefore is to identify those specific behaviours of a director that both contribute to and detract from the performance of the board. But before beginning any individual director evaluation process, is important for the board to articulate and agree upon those specific behaviours expected from the directors during and outside the board/ committee meetings. Such behaviours might include: prepare diligently, reading all of the materials before attending any meeting; being respectful and economical in their choice of words when speaking; listening deeply and attentively when others are talking; seeking to resolve conflicts; and being willing to change their mind.

Assuming you are now committed to conducting these sorts of evaluations, the critical question becomes: who does them? Today, there is almost universal agreement that when boards evaluate themselves, and the evaluations are disclosed internally, the results obtained are practically useless. After all, directors don’t want to make enemies or draw attention to personal weaknesses.

And that’s often why it’s the poorest performing boards who give themselves the highest ratings!

The preferred method therefore is to have a process whereby the directors’ evaluations are sent to an independent third party for tabulation, summarization and reporting back (usually to the Board Chair or Chair of the governance committee) while maintaining director anonymity. Experience and research has shown that this method produces the highest quality evaluations which boards and directors (who are committed to good

governance improving their performance) can act upon.

A final consideration that must be made in designing the assessment process is the frequency with which the board should be evaluated. Generally speaking, an annual review is today not only a recommended best practice but often times a regulatory requirement in some jurisdictions. But evaluating performance of the board should not be solely confined to an annual event. At a minimum, the evaluation process should be supplemented with an assessment of the board’s performance at the end of each board and committee meeting. Doing so is a quick and easy way to gauge whether serious governance problems are starting to emerge and allows the board to address them before they become severe.

In conclusion Boards that do not evaluate themselves or their individual directors allow and perhaps even encourage poor performance to continue – at least until “the dogs” have hit the age or term limit requiring them to leave. Boards often take this latter approach to avoid the unpleasantness of a confrontation. But it is also the hallmark of a wimpy board.

Boards therefore need to start stepping up and muster the courage needed to conduct meaningful board and individual director evaluations. Indeed, a well thought out and properly executed evaluation process can be transformational! And remember, Board evaluations are not just a tool for dealing with dysfunctional boards and miscreant directors. Even good boards can profit from them.

So here’s the big, uncomfortable question for Caribbean directors: to what extent does your board have the courage to annually assess the true quality of its activities and the behaviour of its directors in terms of the value they add to your organization’s performance. If you think that there is room for improvement in the way your board carries out this important governance oversight function, you might also want to consider sending them to one of the corporate governance training programs currently available in the region – like the one currently being offered by The Caribbean Governance Training Institute. After all, it’s not education which is expensive, but rather ignorance. ¤

OECSBusinessFocus Nov / Jan

|

51

Cancer Centre Of The Eastern Caribbean Opens In Antigua

T

he Cancer Centre of the Easter Caribbean finally opened in June in Antigua with pomp and ceremony attended by a number of dignitaries who lauded the initiative as a bold step in advancing the health care infrastructure of the region.

The centre, located at Medical Pavilion Antigua, Queen Elizabeth Highway, is expected to offer high-quality medical, radiation and surgical oncology services.

Antigua & Barbuda’s Minister of Health Molwyn Joseph said the establishment of the centre will bring down the cost of healthcare services pertaining to cancer since individuals would no longer have to travel overseas for several types of treatment which were not offered here.

Minister Joseph said, “Unavailability of cancer treatment including radiation in the OECS, required sufferers to travel abroad for critical care and palliative treatment. I speak here not only of the direct financial cost but also of the indirect cost that includes time lost from work, for patient and relatives alike, and time lost to travel overseas and the displacement and inconvenience associated with travelling and treatment abroad.”

According to the minister, many families in Antigua have been left bankrupt or seriously financially injured by their desperate efforts to save the lives of their loved ones suffering with the effects of cancer.

He noted that currently, government provides financial assistance to persons with cancer for medical treatment abroad through Medical Benefits Scheme. He added that government would

OECSBusinessFocus Nov / Jan

|

52

reduce significantly what is spent abroad and it means the patient will also spend less for the same high quality medical care as they would have elsewhere.

At the same time, Prime Minister Gaston Browne said although Mount St John’s Medical Centre is offering superior secondary health care service, the provision of cancer treatment services at the new cancer centre will augment the quality services being offered at MSJMC. He said negotiations are being held with the government of Cuba to get additional specialists while he added that his administration intends to offer health services in other areas at the centre, in the near future, including cardio vascular diseases and neuro-surgery. www.oecsbusinessfocus.com

Dr. Tom McGowan, Managing Director; Dr. Conville Brown, Chairman; Prime Minister Gaston Browne (Antigua & Barbuda); Prime Minister Perry G. Christie, Chairman Of Caricom; Min. Perry Gomez; Fmr. PM Baldwin Spencer (Antigua & Barbuda), Bill Yeager of Elekta; Molwyn Joseph, Min. of Health; Amb. Bernard Percival at Grand Opening.

In the meantime, two Antiguan doctors have been granted scholarships in partnership with Cuba to specialise in Oncology and Radiology at a cost of US$70,000 annually.

Dr Conville Brown, principal and CEO and also chairman of The Cancer Centre Eastern Caribbean, as well as CEO and Chairman of The Cancer Centre Bahamas said he is looking forward to bringing the best in cancer care to nationals here, the OECS and by extension CARICOM and beyond.

The Partnered Care Model historically has produced very high quality service, typically associated with “Private Care”, and to which Government Patients have access. Hence one sees a “Smartening Up”, of such lifesaving services, rather than a “Dumbing Down”.

“I am extremely flattered to be asked to deliver a Cancer Centre and a Cardiac Centre for people beyond the shores of my own country and to be able to assist in the health care development of the nation,” Dr Brown said on the day of the opening, June 26.

Former prime minister Baldwin Spencer during whose tenure the project was initiated, said he hopes it will improve the provision of accessible cancer treatment services through the sub-region.

CARICOM’s Chairman and Prime Minister of The Bahamas Perry Christie commended the public/private partnership approach to this important undertaking. He added that while tourism is vital as an industry, in recent times leaders have come to realise the value of medical tourism and Antigua is well positioned to capitalise on this aspect of economic development. ¤

From L-R: Freedom Hliziyo Medical Physicist • Dr Tom McGowan Managing Director Charlene Anderson Radiation Therapist • William Deere Senior Radiation Therapist Paul Stapleton Senior Radiation Therapist • Hannah Barnes Senior Radiation Therapist and Clinical Manager

OECSBusinessFocus Nov / Jan

|

53

PARTNERED CARE: A MODEL FOR THE DEVELOPMENT OF ADVANCED MEDICAL SERVICES IN DEVELOPING COUNTRIES The Partnered Care Model, originally developed by Dr. Conville Brown in 1990, and now in its 25th year, was born to facilitate hi-tech medicine that is appropriate and acceptable via standards of care, being made available while increasing access to all by making it affordable via its discounted service system.

Initially, Partnered Care involved a tri-partite partnership between the Private Sector, the Government Sector and the User Sector or public, whom we are most privileged to serve. This unique partnership allowed for the sharing of the overwhelmingly expensive healthcare burden, with the private leading the government and user sectors.

Dr. Brown has since seen to the development of a full spectrum of Non-Invasive, Invasive and Interventional Cardiology Services, including facilitating and supporting an Open Heart Surgical Program (1994) in The Bahamas.

The Partnered Care Model was selected by Prime Minister Baldwin Spencer of Antigua and Barbuda (2009) to lead the Establishment of The Cancer Centre Eastern Caribbean, to serve The Organization Of Eastern Caribbean States (OECS). Cardiac Services were also commissioned of Dr. Brown (Invasive Cardiologist) and his Private Sector Corporate Entity in Global Health Partners, Ltd., the Main Investor, Owner, Designer, Developer and Manager.

Dr. Conville Brown Partnered Care 3.0 thus invokes a 3-way partnership amongst the Private, Government and User Sectors, with defined roles in establishing such high tech medical services.

Roles of The 3 Sectors Include: 1. The Private Sector: • • • • •

The Design & Development Ownership (predominant) Investment & Funding Operation & Maintenance Management & Quality Assurance.

The Medical Pavilion Antigua, the new State-Of-The-Art, 20,000 SF Medical Complex at Michael’s Mount, St. John’s, Antigua, and owned by The Cancer Centre, Eastern Caribbean Ltd., will thus serve as home to The Cancer Centre Eastern Caribbean, and its two tenants in The Heart Centre Antigua and The Imaging Centre Antigua. The tenants will see to the development of full Cardiology Services (including Interventional), and anticipates the introduction of PET-CT Scanning for the optimum evaluation and surveillance of Cancer and Cardiac Patients (our two greatest killers).

The Private Sector 2. The Government Sector:

The Government Sector

PC

• •

The User Sector

3. The User Sector (General Public/Consumer): May be • • •

OECSBusinessFocus Nov / Jan

|

54

Safety Net for the less fortunate, and Regulatory to ensure quality care.

Insured, Self-Paying Private, or Government Self-Pay, -Subsidized or -Supported. www.oecsbusinessfocus.com

The Partnered Care Partners in The Cancer Centre Eastern Caribbean 1. The Private Sector: 1.

2.

3.

4.

5.

Global Health Partners, Ltd., (Primary Investor, Designer, Developer & Owner) The Cancer Centre Bahamas (Primary Model) Eastern Caribbean Amalgamated Bank (Building Funding) OBMI, Ltd. (Architect & Project Management) George & George Construction Co. (Builder).

2. The Government Sector: 1.

2.

3.

4.

5.

6.

7.

The Governments of Antigua and Barbuda and OECS PM Gaston Browne (Major Proponent) Former PM. Baldwin Spencer (Vision & Brainchild) Min. of Finance & Medical Benefits (Safety Net) Min. of Health & Social Transformation (Regulatory) Antigua & Barbuda Investment Authority (Concessions) Mt. St. John’s Medical Centre Board (Govt. Shareholder)

3. The User Sector: The People of 1. The OECS, 2. CARICOM, and 3. Beyond.

The Caribbean Cancer Centre Network The Cancer Control Program for The OECS, CARICOM, and Beyond!

The Caribbean Cancer Centre Network, (TCCCN), will embody a Partnered Care Hub and Spoke Model of Cancer Centres of varying degrees of sophistication and capabilities, with corresponding cancer foundations.

Each OECS State will Have Ownership in The Cancer Centre, Eastern Caribbean Ltd. and thence The Cancer Centre Eastern Caribbean so that The Cancer Centre Network and “The Cancer Centre Eastern Caribbean will truly be For, Of and By The OECS”.

THE HUB: The Cancer Centre Eastern Caribbean, will be: 1. Main Headquarters and Resource Base of The Network 2. Primary Site for External Beam Radiation Therapy (Elekta Infinity Linear Accelerator with Agility).

3. Main Chemotherapy Centre for: a. ChemoRadiation Therapy, and b. Initiation of Complex Chemotherapy.

4. Primary Communications Centre With MOSAIQ, the Elekta Oncology Information System that will connect the OECS Territories with TCCEC and The Cancer Centre Bahamas.

MOSAIQ is to be donated by Elekta in a major contribution towards the establishment of The Caribbean Cancer Centre Network (TCCCN).

The Private Sector:

Global Health Partners Ltd. The Cancer Centre Bahamas Eastern Caribbean Amalgamated Bank OBMI, Ltd. George & George Construction ELEKTA Private Investors The Government Sector: Government of Antigua & Barbuda Governments of the OECS PM Gaston Browne Fmr. PM Baldwin Spencer Min. of Finance & Medical Benefits Min. of Health Antigua & Barbuda Investment Authority Mount St. John’s Medical Centre

The Cancer Centre BVI

The Cancer Centre Dominica

The Cancer Centre Grenada

The Cancer Centre Eastern Caribbean TCCEC Antigua

The Cancer Centre Anguilla

The Cancer Centre Montserrat

The User Sector:

People of the Organization of Eastern Caribbean States (OECS) Greater Caribbean Community (CARICOM), and Beyond

Recently, The Partnered Care Model evolved to 4.0, with the addition of a 4th Sector, The Industry Sector, by our New Partner, Elekta, yielding a Quadri-Partite Partnership (Private, Government, User and Industry Sectors).

The Caribbean Cancer Centre Network will therefore be a SubRegional, Quadri-Partite Partnered Care Effort and Initiative to bring Life-Saving, State-Of-The-Art Cancer, and eventually Cardiac Services, to the Peoples of The OECS, CARICOM and Beyond, particularly in under-served areas. Same to be done in an Affordable Manner and System to Ensure the Broadest Possible Access.

THE CANCER CENTRE BAHAMAS

The Cancer Centre St. Vincent and the Grenadines

The Cancer Centre St. Lucia

The Cancer Centre St. Kitts and Nevis

THE SPOKES: The Cancer Centres In Each Territory: 1.

Public and Private Cancer Clinics providing: a. New and Follow-Up Consultations b. Chemotherapy Administration 2. Oncology Leadership By TCCEC providing: a. Cancer Program Oversight and Prescriptions. b. Supervision of the Government Cancer Clinics.

Communications Throughout TCCCN 3. Inter-Clinic via MOSAIQ donated by Elekta. This will be the First Sub-Regional Electronic Medical Record System for Cancer & Heart Disease in The OECS and CARICOM. OECSBusinessFocus Nov / Jan

|

55

The Honourable Minister of Health And The Environment Molwyn Joseph,Antigua And Barbuda It is with great honour that I extend heartfelt congratulations to Global Health Partners on the opening of The Cancer Centre Eastern Caribbean.

Over the past few years The Cancer Centre Eastern Caribbean has moved from c o n c e p t u a l i z a t i o n to realization.

Since the signing of the initial Memorandum of Understanding between the Government of Antigua and Barbuda and Global Health Partners Ltd., we have gone through over 5 years of preparatory work and development, including pilot projects such as a Cancer Clinic at the Mount St. John’s Medical Centre.

The Cancer Centre Eastern Caribbean is a state of the art facility, situated at The Medical Pavilion Antigua, which seeks to offer comprehensive Oncology and Cardiology services to citizens and residents of Antigua and Barbuda, as well as the wider Eastern Caribbean OECS Member Territories.

In keeping with the provision of guaranteed quality healthcare, The Cancer Centre Eastern Caribbean has mandated that it will provide appropriate, accessible, affordable, and acceptable care which will be available to all.

Undoubtedly, the Centre will make a great contribution to the promotion of advanced healthcare including radiation therapy.

As the cost of medical treatment continues to rise worldwide, The Cancer Centre Eastern Caribbean truly shows its strong commitment to the well-being of patients by providing superior services and assured safety at significantly discounted rates.

Additionally, and most importantly, many persons will receive essential treatment, which in some instances will prove to be lifesaving. The undertakings of this facility will eliminate the need for costly and time consuming trips to other countries. It is this type of dedication that the government and people of Antigua and Barbuda welcome.

On behalf of the Ministry of Health and the Environment, I would like to once again extend congratulations and wish The Cancer Centre Eastern Caribbean a successful future as we commence a new chapter that further enriches our cherished and promising partnership. ¤

The Managing Director Of The Cancer Centre Bahamas and The Cancer Centre Eastern Caribbean Dr. Tom McGowan, MD, MBA, FRCPC The Cancer Centre Eastern Caribbean is a comprehensive cancer facility offering both radiotherapy and chemotherapy.

The availability of radiation therapy locally is of tremendous importance to those people who are diagnosed with cancer, especially from within The Organisation of Eastern Caribbean States (OECS).

People who have had the ability to arrange radiation treatment elsewhere, will now have a high quality local option, and those people who would not have been able to get treatment at all in the past, will now be able to get it.

Radiotherapy is an essential part of the treatment of approximately 50 per cent of patients diagnosed with cancer. The effectiveness of radiotherapy depends on how much radiation is delivered to the cancer and how accurately it is delivered. The ability to deliver the right dose of radiation to the right part of the body is dependent upon two items: The quality of the equipment; and the capabilities of the people who utilise it. We have both the best equipment and outstanding staff at The Cancer Centre Eastern Caribbean.

When patients come to The Cancer Centre Eastern Caribbean for cancer treatment, their oncologists will have access to the Elekta Infinity Linear Accelerator with Agility.

The significance of this is that patients will be able to be treated with advanced, state of the art treatment techniques, which are both more accurate and delivered in a shorter period of time that had been available previously (as in Stereotactic Body Radiation Therapy - SBRT, and Stereotactic RadioSurgery – SRS).

This increase in accuracy allows for both lower side effect and better outcomes.

The ability to continue to treat patients to the highest standards means that staffing, quality assurance protocols, and equipment maintenance, all need to be at the highest possible standards.

Our local staff and the experts we have hired to help oversee our program are all working together to ensure this facility will be recognized as a model of how to deliver state of the art cancer treatment in a remote location.

Our goal is to be the centre other people come to in order to learn how to ensure the highest levels of quality, in a state of the art centre, particularly in a developing country.

It has been, and continues to be, a tremendous honour to play a role in bringing state of the art cancer treatment to the OECS. ¤

OECSBusinessFocus Nov / Jan

|

56

www.oecsbusinessfocus.com

CANCER,

second leading cause of death in the Caribbean CARPHA The Trinidad-based Caribbean Public Health Agency (CARPHA) has reported that cancers are the second leading cause of death in the region; even as it acknowledged that nearly one half of cancers are preventable or treatable if detected early.

CARPHA said that among females, breast cancer is the main cause of death, followed by cervical cancer. Prostate cancer is ranked as the leading cause of cancer death among males, with lung cancer being the second main cause of cancer death. Lung cancer also contributes to a high number of deaths among women. Colon cancer is the fifth leading cause of death in the region, with an almost equal number of deaths among males and females.

Cervical cancer is one of the most preventable, yet it claims the lives of approximately 2,500 women, CARPHA said.

“There are common modifiable risk factors that contribute to the development of cancers. These include tobacco use, unhealthy diets, physical inactivity and harmful use of alcohol,” said CARPHA’s Executive Director Dr James Hospedales.

“Research has shown that a reduction in the modifiable risk factors in the population will contribute to a reduction of cancer cases and as a consequence deaths and costs from the disease in our region.”

Dr Hospedales said cancer prevention and control is certainly not beyond the Caribbean.

“Collaborative, multisectoral, multidisciplinary action supported by good data is urgently needed to impact this problem in our region. Let us use World Cancer Day 2015 to mark the start of concerted actions in our countries for reducing the scourge of cancer in our Caribbean!”

The agency explained it has been supporting member states in identifying the risk factors for chronic diseases including cancer in the population and that results from such surveys have shown high levels of tobacco use in some countries especially among males; low levels of physical activity, overwhelming levels of overweight and obesity; high levels of harmful use of alcohol particularly among men and extremely low levels of intake of fruits and vegetable.

It said that the theme for World Cancer Day 2015 (February 4) “Not Beyond Us” and that countries are still being urged to employ proactive approaches to fight against cancer with a strong message

which stresses that solutions do exist and are within our reach to reduce the disease burden and cost impact.

“In this regard, countries are encouraged to implement and enforce proven policies and interventions which will impact on the reduction of the development of chronic diseases and their risk factors in the population.”

CARPHA said it will continue to support and guide countries in the identification of suitable interventions for impacting behavior change in the population, thereby reducing the risks for cancer.

The health agency is also actively working with partners regionally and internationally including non-governmental organizations to reduce risk factors and chronic diseases in the region. In addition, CARPHA is collaborating with institutions and agencies within the Caribbean Community (CARICOM) region to impact trade agreements and influence the availability and access to healthy foods.

“Crucially, to improve cancer prevention and control, requires strengthening of information data about cancer, particularly cancer registries.

“In this regard, CARPHA is working with the National Cancer Institute (NCI), the International Agency for Research on Cancer (IARC), and the Centre for Disease Control (CDC) to be a cancer registry hub for the Caribbean to strengthen existing cancer registries in the Member States,” the Trinidad-based agency said. ¤ OECSBusinessFocus Nov / Jan

|

57

ECONOMY & TRADE

British PM

Announces US$544m Development Package for

Caribbean

B

ritish Prime Minister David Cameron has announced a £360 million (US$544 million) development package for the Caribbean, which will provide grants for infrastructure projects like roads and bridges.

Speaking to the joint Houses of Parliament in Jamaica he announced a package of bilateral aid, featuring: •

£300 million for a new UK-Caribbean Infrastructure Partnership Fund to build new ports, roads and bridges to boost trade and growth;

•

£30 million to make health facilities more resistant to natural disaster; and

•

£30 million for new programmes to support economic growth.

“This money could help to unleash trade across the region with new roads, new bridges, and new ports to help speed freight movements,” Cameron said. An agreement was reached to build a new correctional facility in Jamaica, as part of measures to improve the country’s criminal justice system. “This, I believe, is in the interest of both of us and is a good example of how we can work together to benefit people here in Jamaica,” Cameron stated.

He also announced that over the next five years, the UK will be spending US $9 billion on climate financing, and said he was determined to ensure some of that money is spent in the region.

“We have spent more than £60 million here in the Caribbean over the last five years to help the countries deal with the effects of climate change but frankly, I think we can do much more,” he said.

Cameron and the Grenadian Prime Minister Dr. Keith Mitchell saw the long term after-effects of natural disasters when they visited the small town of Gouyave. They visited the sole remaining nutmeg processing plant after Hurricane Ivan hit the country in 2004 and viewed a bridge which had also been severely damaged by the hurricane and subsequent tropical OECSBusinessFocus Nov / Jan

|

58

storms. The bridge is already earmarked for DFID/World Bank support but it demonstrates the kind of project that could benefit from the new UK-Caribbean Infrastructure Partnership Fund.

In a subsequent meeting with Mitchell and his Cabinet, Cameron stressed the continuity of links between the UK and the Caribbean. “We want to help the Caribbean on their path of development – supporting economic growth and creating new opportunities for people living here,” he said.

Britain’s International Development Secretary, Justine Greening, who accompanied Cameron, said that too many Caribbean countries are held back because they remain vulnerable to severe economic or climate shocks. With some of the highest energy costs in the world, it is difficult for businesses to compete in global markets, leading to decades of slow or declining growth.

“Britain’s close relationship with the Caribbean and our new support will help boost growth and kick-start economic recovery across the region as well as creating important trade and investment opportunities for the UK,” she noted.

Also announced was a doubling of UK Chevening Scholarships for the Caribbean and enhanced support in the fight against serious and organised crime in the region.

Jamaica’s Prime Minister Portia Simpson Miller revealed that, during her meeting with Cameron she raised the issue of reparations for the transatlantic slave trade. Jamaica, along with other Caribbean nations, has been calling for Britain to offer compensation for the period in which the British extracted wealth and resources from the region, which cemented its place as global leader.

However, Cameron appeared to reject that possibility, saying, “Our relationship should be based on the countries we are today and the opportunities we can generate together, rather than over-relying on the historical ties of the past.” ¤ www.oecsbusinessfocus.com

Secretary General of Caricom, Irwin LaRocque and Ambassador Konstantin Zhigalov signing the agreement

Kazakhstan, CARICOM Sign US $250,000 Water Resource Management Deal

K

onstantin Zhigalov, Ambassador to the Republic of Kazakhstan to Canada and Concurrent Ambassador to the Republic of Cuba, the Dominican Republic and Jamaica, became the first Kazakhstan Ambassador to be accredited to the Caribbean Community (CARICOM). The Ambassador presented his credentials to Caricom Secretary General Irwin LaRocque at the CARICOM Headquarters, Turkeyen, Greater Georgetown.

The accreditation of the Ambassador was followed by the signing of a Memorandum of Understanding (MoU) between CARICOM and the Government of Kazakhstan to the tune of US $250,000 for the development of a Water Resource Management plan for the Caribbean region, including Guyana.

Secretary General of Caricom, Irwin Larocque, in brief remarks, expressed his thanks and appreciation to the Government of Kazakhstan for funding the project, which is expected to begin immediately and run for approximately three years.

The newly accredited Ambassador to the Caribbean Community said that the new relationship between the region and the Republic of Kazakhstan will see many engagements and projects being implemented for the development of the Caribbean region including Guyana.

“We see the development of Caricom countries and Guyana, on regional and global affairs. We see many opportunities for cooperation with Caricom and Guyana. Kazakhstan and Caricom share common approaches to many international challenges such as; economic, social, environmental and technological problems as well as research and developmental programmes and so we see the fostering of a good relationship,” the Ambassador said.

Speaking to the issue of climate change and the effect on the Caribbean region, Ambassador Zhigalov committed his country’s assistance and support to Caricom in times of disasters and distress.

“We understand the serious threats facing the small islands in the Caribbean region and Kazakhstan stands ready to support Caricom in its challenges and unforeseen circumstances; hurricanes, floods, by contributing much needed financial assistance. We also offer collaboration and guidance on energy policies for Caricom countries.” he said.

“One of the growing forces in the Caricom region which is challenging is energy and this is an area that Kazakhstan is leading in and we want to explore initiatives that can be of help. We are ready to work with the Caribbean community in energy, capacity building, technology transfer and institutional development.There is a lot we can learn from each other,” Ambassador Zhigalov said.

His Excellency Zhigalov will act as the Non-resident Ambassador of Kazakhstan to the Caribbean Community and will be based in Ottawa, Canada.

Ambassador Zhigalov also met with Minister Harmon at the Ministry of the Presidency of Guyana and solicited Guyana’s cooperation in seeking membership for Kazakhstan to have a non-permanent seat on the United Nation’s Security Council.

He also presented a letter for President David Granger from the President of Kazakhstan, Nursultan Nazarbayev. ¤

OECSBusinessFocus Nov / Jan

|

59

ECONOMY & TRADE

Caribbean Investment Summit Brings Much Needed Focus to the Region Attracting foreign direct investment (FDI) from European investors for some of the Caribbean’s most promising projects was the aim of the Caribbean Investment Summit 2015 (CIS) hosted in London in September by the Caribbean Export Development Agency (Caribbean Export) in collaboration with the Caribbean Association of Investment Promotion Agencies (CAIPA).

After a full day of presentations showcasing the attractiveness of investing in the Caribbean to 100 pre-qualified interested parties, several Caribbean projects are a step closer to receiving the investment needed.

F

unded by the European Union, within the framework of the 10th European Development Fund, Regional Private Sector Development Programme and the Haiti Dominican Republic Binational Programme, Caribbean Export welcomed H.E. the Right Hon. Perry Christie, Prime Minister of the Bahamas at the opening ceremony. He underscored that the Caribbean had recovered well from the financial crisis and that there are significant opportunities in renewable energy and tourism, among others. In addition, he indicated that there have been increased efforts in the region to strengthen human capital to support the attraction of FDI and that innovation and public private partnerships are being used

by Caribbean countries to attract FDI. Ms. Pamela Coke Hamilton in her remarks emphasized the continued role of her Agency in promoting and supporting a collaborative approach to attracting FDI into the Caribbean.

Ms. Coke Hamilton emphasised the success of the region in supporting successes such as Grace Kennedy, Digicel and Tucker Energy Services (TES). She noted the many reasons investors have chosen the Caribbean highlighting that “…among their top priorities are location, openness of trade, infrastructural developments, a skilled labour force, economic and political stability, and flexible incentives.”

Mr. McHale Andrew, President of the Caribbean Association of Investment Promotion Agencies (CAIPA) disclosed for those present the results of 2 studies undertaken on investor perception in the region. He noted that based on the findings, investors came to the region to take advantage of the market access and the political and economic stability the region provides. Mr. Andrew underscored the fact that the Caribbean is second only to the OECD countries in Trading Across Borders and Protection of Investors indicators in the World Bank’s Doing Business Report of 2014. He also noted that as many as 81% of existing investors are reinvesting or plan to reinvest in the Caribbean and that 71% of investors polled would be likely or very likely to recommend the Caribbean host country’s business climate.

OECSBusinessFocus Nov / Jan

|

60

Ms. Pamela Coke Hamilton, Executive Director, Caribbean Export

The CIS also presented an excellent opportunity to collaborate with FDI Magazine of the Financial Times with its editor in chief Ms Courtney Fingar serving as compère for the event and officially presenting the top 10 Caribbean IPAs in FDI Magazine’s recently announced Caribbean and Central American Countries of the Future rankings. Among the top performers in the region was the Dominican Republic, receiving recognition for its Connectivity, FDI Strategy, Economic Potential, Cost effectiveness and Business Friendliness; Trinidad who was the winner for Cost Effectiveness and among the top 10 for its FDI Strategy, Connectivity and Business Friendliness; Barbados, who ranked among the top 10 for FDI Strategy, Cost Effectiveness and Human Capital and Lifestyle; and Jamaica, the winner of FDI Strategy and among the top 10 for Connectivity and Business Friendliness.

Also receiving awards for FDI strategy and Cost Effectiveness were: the Bahamas, Belize, Dominica, St. Lucia and Grenada.

The Investment Promotion Agencies present at the event were: the Bahamas Investment Authority, BelizeInvest, the Centre for Export and Investment in the Dominican Republic, the Centre for the Facilitation of Investments in Haiti, the Grenada Industrial Development Corporation, Invest Saint Lucia and Jamaica Promotions Limited (JAMPRO). ¤ Caribbean Export is a regional export development and trade and investment promotion organisation of the Forum of Caribbean States (CARIFORUM) currently executing the Regional Private Sector Programme (RPSDP) funded by the European Union under the 10th European Development Fund (EDF) Caribbean Export’s mission is to increase the competitiveness of Caribbean countries by providing quality export development and trade and investment promotion services through effective programme execution and strategic alliances.

More information about Caribbean Export can be found at www.carib-export.com. Contact: JoEllen Laryea, PR and Communications, Caribbean Export Development Agency, Tel: +1(246) 436-0578, Fax: +1(246) 436-9999, Email: jlaryea@carib-export.com www.oecsbusinessfocus.com

Atwell Dalgliesh Co. (St.Lucia) Ltd. Distributors of Hair Care Products Soft Sheen Carson Wave Nouveau Carefree Curl Optimum oil Therapy Optimum Relaxers Etc.

Connecting Regional Enterprises with Regional Angel Investors

S

ixty-one Caribbean Micro, Small, and Medium Sized Enterprises (MSMEs) and Business Support Organisations (BSOs) should now be in a position to attract much needed financing from regional angel investors. The Caribbean Export Development Agency in collaboration with infoDev (a World Bank Multi Donor programme), as part of its initiative to increase access to non traditional forms of financing for regional entrepreneurs and MSMEs, hosted a series of training seminars recently in the region on “Angel Investor Engagement for Entrepreneurs.”

Securing investment from an angel investor can come with a different set of challenges, from what a firm might face when looking to secure a bank loan. This could be because an angel investor is an individual who invests his or her own cash, generally in exchange for equity in the company or convertible debt, with the objective of realising a capital return in the foreseeable future. Unlike a traditional financial institution an Angel is likely to become involved in the organisation through mentorship and the use of his expertise and contacts for the company’s advancement. In view of this the workshop led by Project Director for the Caribbean Business Angel Advisory Programme, Mr. Nelson Gray set out to define a typical Angel and what they are looking for in potential investments.

Organic Root Stimulator

Hair Mayonnaise Fertilizing Balm & Serum

Phenix Professional Max@mum Color Lotions

Also in Stock...

Food Service Supplies

A Variety of Disposable, Paper And plastic food service items.

For Wholesale & Retail Customers

Available : Janitorial & Sanitation Supplies Plumbing and Electircal Supplies

La Pansee Road, P. O. Box 732, Castries, St.Lucia, W. I. Tel: 1758-452-3668 / 452-3417, Fax: 1758-452-4387 Email: info@atwelldalgliesh.com www.atwelldalgliesh.com

Gray formerly acted as the fund manager for Scotland’s leading business angel syndicate, Archangel, formed in 1992 and as Special Projects Director of LINC Scotland, he acts as a mentor to new investment groups developing tools and procedures to further best practices in Angel investing. Having personally invested in over 35 companies Gray is well versed to share with participants the tools needed to attract investors; and create a viable pipeline of qualified and well prepared entrepreneurs to apply to Angel Investors throughout the region.

Within the Caribbean there are currently three Angel Groups, which are basically a collection of individual Angel Investors who come together under a common brand with defined rules of membership and conduct to collectively identify, review, select and evaluate Angel investments. It is hoped that following the workshop the regions entrepreneurs are sensitised on how to make themselves attractive for angel investment.

We Pr additi Soufriere 758-459-7729

The training took place in Barbados, Jamaica and Saint Lucia, with the 61 participants coming from Guyana, Suriname, Trinidad & Tobago, Barbados, Jamaica, Belize, Haiti, the Dominican Republic and the OECS countries. Caribbean Export will continue to host the Angel Investing Engagement Workshops over the next two years. ¤

Cookin Teleph Vehicle freshe Oils an store

Locat Telep OECSBusinessFocus Nov / Jan

|

61

IS ON THE MOVE! N

ew buildings, additional outlets and expansion projects for existing stores bursting at the seams – this is what Budget Marine Chandleries have been recently undertaking as they get ready for the season and expand on 5 islands to meet the diverse and increasing demands of the boating community.

The Antigua location has been developing the most over the past 2 years. At the end of 2013 they moved their main location in Jolly Harbour from the boatyard to a brand new building within walking distance of the Marina.

With the increased space they now offer a larger selection of products and maintain a larger inventory on-island.

Soon thereafter they opened their second location in English Harbour, with a big focus on the Mega Yacht business in Antigua. The location recently got a new look for the start of the season with a little face lift on the outside and a remerchandising project on the inside, making it even more attractive.

In August this year, the emphasis has been on getting another new Budget Marine outlet up and running. On the northern side of Antigua on Crabbs Peninsula with North Sound on its west, is the magnificent, new North Sound Marine Services boatyard. Unlike most Caribbean boatyards, almost all boats are stored on concrete and it is surrounded by infrastructure with more boat storage.

Budget Marine is acutely aware that a OECSBusinessFocus Nov / Jan

|

62

good chandlery can make a boatyard much more attractive and the positioning of Budget Marine’s third Antigua location in this yard helps to make the destination an outstanding one in the Caribbean.

The Budget Marine North Sound outlet is committed to providing all the typical boatyard requirements, including fasteners, cleaning products and support material for Antigua’s skilled artisans, refit specialists, joiners, painters, electrical contractors, many of whom are spending an increasing amount of work time in the North Sound location.

On the neighboring Caricom island, the Budget Marine Grenada store has always had to play catch up with its fast growing market. The store has added 1200 square feet to its current retail space, as well as roughly 400 square feet of additional warehousing. Nicholas George, manager of Budget Marine Grenada reports: “We are seeing a few marine related developments here on island and with our current expansion we can match the increased demands. We have been eager to make the new section look very attractive and are ready for the season.”

The new area will strictly house all boat building materials, this being a core stock of the Budget Marine Grenada store in its location at Spice island Marina Boatyard, while the current retail space will have room to house more products.

The expansion drift has also affected Budget Marine Tortola, Bonaire and Trinidad. The first two locations, having outgrown their original premises, moved

into brand new buildings. The latter, Budget Marine Trinidad, will establish a small outlet at the Trinidad & Tobago Yacht Club, providing convenient access to relevant boating products at this long established meeting place and storage facility. All these expansions and additions have one thing in mind: the gratification of having that piece of equipment TODAY that will keep your boat running smoothly. ¤ Budget Marine is the largest retailer of boating supplies and accessories in the Caribbean. With over 30 years of experience and 13 locations Caribbean wide, Budget Marine has become the Leading Chandlery in the region, catering to the small boat cruiser, race boats, superyachts, sport fishermen and everything in between.

The Budget Marine team knows that boaters and their vessels are as diverse as the ocean itself. In every product range, they continue to improve the selection, the product depth, and the ability to support the product thoroughly. Just visit any of their well-stocked stores, read through their catalog with over 700 pages filled with products, or browse their website with over 30,000 products.

For more information visit www. budgetmarine.com www.oecsbusinessfocus.com

Inno Tech

OECSBusinessFocus Nov / Jan

|

63

ECONOMY & TRADE

Start with a mental assessment of your relationship with your coworkers. Do you get along very well or not so well? Why do you think that is? And what can you do to improve the situation?

5. Take good care of yourself: we are all guilty of skipping breakfast because we are running late in the morning or lunch to meet an urgent deadline.

Eating well, sleeping well and getting some exercise is a very good start to taking care of yourself physically and mentally.

How to Set Better

Boundaries at work…

By Trudy O. Glasgow

Getting a new employee should mean setting the boundaries from the beginning of the working relationship. Further, for employees who have been working with you for a while, the employer may see the need to establish boundaries to improve the existing working relationship. Here are some tips to get you started.

1. Great expectations or no expectations? : This depends on the culture of the business that you are working for, the nature of your job and your employee. The employee’s role should be clearly defined from the outset with a job description. This can be in the form of an oral or written agreement. The Labour laws do not insist on written job descriptions and employment contracts, but this is preferable as memories fade and either party may not recall exactly what was established.

2. Set clear limits: if you are the employer or a supervisor, it may be easier for you to set clear limits in terms of what you are willing to do; for example, during your lunch hour, and what you are not. Further, if the office does not have a policy for a particular matter, for example dating within the workplace, it is up to you to make a mature decision about whether or not it is appropriate to date someone at the office and the consequences of this to you and OECSBusinessFocus Nov / Jan | | 64 64

continued employment with the business if the relationship goes pearshaped.

3. Say what those limits are: you may have determined what your individual limits are but have you communicated this to your coworkers in a non-confrontational way? It may not be organic to simply indicate at a meeting that you are not willing to work after 5pm on a Friday because you have to take your son to a cricket match, however, routine engagements after hours which will not easily permit you to work overtime should be communicated in a subtle and appropriate way to the management with alternative suggested times to put in the extra hours as needed.

4. Re-examine your relationship with your employer/employee: if you have already been working at your job for several months or years, it will be more difficult to start setting boundaries or realigning boundaries at work. Difficult but not impossible.

6. Seek advice: not sure how to start setting boundaries at work? Seek advice from someone who has done so successfully and get some guidance on how to implement it, when to start, and who to start it with.

7. Let it evolve gradually: Once you have made the decision to set boundaries at work, generally there is no rush in it materialising. It can happen over time.

8. Say ‘NO’ sometimes: One of the ways that you can set boundaries is to say simply ‘NO’. If you usually say ‘YES’ to every request of your co-workers, it will eventually be to your detriment.

Assess whether or not you have the time and energy to accommodate each request and if it is something that you simply cannot do, do not be afraid to decline in a polite way.

9. Does your smartphone rule your life? : Are you always on your smartphone at work? Whether you are using it to respond to questions from clients or personal use, you need to set some guidelines on when it is reasonable to be using your phone. If there is no office policy in place for this, it is important to determine this for yourself.

10. Strike a balance: it can be difficult to strike a balance between your work and personal relationships.

Working with friends or family can be challenging because they will communicate with you in a different manner to another co-worker. Being too friendly at work can convey a lack of professionalism and can result in your work colleagues not taking you seriously. Your demeanour and deportment at work should be more professional than your personal life. ¤ www.oecsbusinessfocus.com

OECSBusinessFocus Nov / Jan

|

65

ECONOMY & TRADE

Marginalization Through

“De-Risking”

W

By Kem Warner

orldwide it is said that money laundering is a problem of staggering proportions and has potentially devastating economic and social consequences, as well as security. The Caribbean for the most part has been heavily criticized for being a safe harbour for criminals, establishing vehicles to hide beneficial ownership, tax evasion and corruption to name a few. Risk assessment is the buzz word as institutions are forced to ensure that they remain compliant to satisfy local laws and international standards.

The Financial Action Task Force 2012 Recommendations has stressed the importance of Risk Assessment as a key tool to be carried out not just for financial institutions but at a national level.

Over the past decade, our financial institutions in the region have seen heightened levels of regulatory attention on the frameworks of Anti-money Laundering (AML) and Countering Financing of Terrorism (CFT). In order to “mitigate risks” some banking institutions have responded by strengthening their risk models to assess their customers on a risk based approach while some are opting to end relationships with clients deemed “high risk” such as Politically Exposed Persons (PEPs), Gatekeepers, clients with previous charges that may be related to Money Laundering, Terrorism and other predicate offences.

Being charged with an offence and convicted of the offence is certainly not the same. Similarly being a PEP, a Gatekeeper or a high risk individual or business should not prevent financial inclusion. The argument from many banks is that those high risk relationships may pose more risk than potential returns to them. In addition, maintaining their

OECSBusinessFocus Nov / Jan

|

66

correspondent bank account is of more importance than taking on the headache of getting to know that high risk customer by having to frequently monitor that account. This practice, known as derisking, is the preferred option from the financial services industry especially banks given the regulatory pressures on AML/ CFT in recent years. This has prompted banks to rethink the way it defines and manages risk.

However, ambiguity remains as the criteria recommended for risk assessment is rather subjective and lacks uniformity in its implementation across institutions.

This, therefore, presents challenges for financial inclusion; thus, prohibiting high risk individuals and firms from conducting business. With the appetite for risk plummeting, the larger banks, especially those with International Head Offices are losing clients deemed high risk to smaller Domestic Banks, Credit Unions and other Depository Institutions. However, these smaller financial institutions may not have the resources and systems to be able to conduct effective AML/CFT compliance services. This may also result in a forcible shift to the use of the underground economy which can then have an effect on GDP indicators of countries.

One cannot argue that AML/CFT systems are not necessary to protect the stability of the banks and to a larger extent the international financial system. Neither can one argue that the reputation of the banks and the maintenance of correspondent bank accounts are not critical.

However, de-risking has to be carefully considered in order not to enhance financial exclusion which could have other negative effects. As banks continue to de-risk, governments will be forced to

possibly change laws and regulations to ensure that the recommendations under the national risk assessment do not allow for too much financial exclusion and are best suited for economic growth and institution based needs. Failure to do so may lead to the blockage of development and growth of innovative mechanisms for the financial inclusion of those individuals and companies that are marginalized.

In doing so, care must also be taken not to compromise to the point where international pressures and sanctions can have governments on their heels and possibly cause reputational damages to the country and financial institutions.

The question is does the risk based recommendations allow for flexibility, proportionality and effectiveness or will the subjectivity allow for the return of a prescriptive approach to customer due diligence? Only time will tell. ¤

Kem Warner is the Owner and Managing Director of KAW Management Services Ltd. in Antigua and KAW Management Services (Caribbean) Ltd. in St. Kitts and Nevis. Both companies specialize in Anti Money Laundering, Anti-fraud, Risk Management, Compliance Services, Operations Management Consultancy and Training. He can be reached at kaw@ kawmanagement.com www.oecsbusinessfocus.com

Let MAMPA Employment Agency do the hard work for you!

Local Employment: Professional Contract Coaching Training Domestic

Cruise Ship Employment: Food & Beverage Accounting, Deck & Engine International Employment: The Caribbean North America United States, Europe

Recruiting solution with no boundaries Mampa Training Institute 39 Brazil Street Castries, Saint Lucia, W.I Tel: - (758) 451 6163 Cell: - (758) 584 7262 Mampa18@hotmail.com www.mampaagencyltd.com

Mampa Employment Agency and Mampa Training Institute (MTI)

OECSBusinessFocus Nov / Jan

|

67

MONEY MATTERS

Resolution of Banking Sector Key to Growth Sir Dwight Venner

R

eform in the banking sector is the only way to realise sustained economic growth, Governor of the Eastern Caribbean Central Bank Sir Dwight Venner has said.

He told the fourth International Monetary Fund (IMF) High Level Forum here that the global financial crisis which started in 2007, has had a major impact on regional economies and banking systems “and we have not resolved that problem yet.”

Calling the resolution of the banking sector “a difficult task,” Sir Dwight said before economic growth can take place in the Caribbean “the underlying and structural issues must be dealt with as well.”

“This is the only way we can get the levels of economic growth required to address our development,” he added.

The ECCB Governor said the international community must join in resolving the “major issues,” adding that the two-day forum, which ended recently, can be a catalyst for solving problems in the banking sector.

Sir Dwight has been a loud voice for better regulation of the subregional banking sector, overseeing the passage of the Banking Act in ECCU member states, a necessity to maintain correspondent banking relationships.

The Prime Minister and Minister of Finance in St. Kitts/Nevis Dr. Timothy Harris agrees that since the global financial crisis which hit banks hard, “the region has been struggling to return to growth levels that we experienced before the crisis.”

“Relative to Latin American economies, our region’s growth has been subdued,” Dr. Harris said during the two-day forum.

He called on the region’s private sector to “play a more important role” to achieving “sustained economic growth.” Dr. Harris stressed the importance of partnership, telling delegates at the forum “no man is an island.”

The forum, “Financing Growth” in the Caribbean, focuses on issues critical for growth and competitiveness: reducing energy costs and financing national energy strategies, and banking sector issues, such as including improving access to credit for the productive sector.

It brought together prime ministers, finance ministers, central bank governors, and other high-ranking officials from Caribbean countries, as well as senior officials from the IMF, the Caribbean Development Bank, the Inter-American Development Bank, the World Bank and donors. ¤ OECSBusinessFocus Nov / Jan

|

68

www.oecsbusinessfocus.com

World Bank Says Shortage of Long-term Finance is Blunting Progress in Developing Countries

A

shortage of long-term financing since the 2008 crisis is choking the investment-backed growth of companies in the Caribbean and other developing countries and hampering the ability of creditworthy families to borrow for education and housing needs and escape poverty, a new World Bank report warned recently.

regulated and legally enforceable banking and investment system that protects creditors and borrowers, and setting a framework for capital markets and institutional investors.

“It would be a challenge to achieve high and sustainable rates of economic growth if countries fail to invest in schools, roads, power generation, electricity distribution, railways and other modes of transport, and communications. Private sector construction of plants and investment in machinery and equipment are also important.

Without long-term financing, households face great hurdles to raising income over their lives —for example by investing in housing or education—and may not benefit from higher long-term returns on their savings,” World Bank Group President Jim Yong Kim said.

While commercial banks remain the primary source of financing for firms and households around the world, capital markets have grown rapidly, especially in emerging market economies like China and India. Firms in developing countries saw a 15-fold increase in the amounts raised in equity, bond, and syndicated loan markets between 1991 and 2013.

According to the new report, ‘Global Financial Development Report 2015-2016: Long-term Financing’, extending the maturity structure of finance is considered to be at the core of sustainable financial development.

“Long-term finance facilitates investment in infrastructure, durable goods, and people’s education and skills, and, as such, is the bedrock of sustained growth. Finance, however, needs good institutions and effective contract enforcement,” noted Kaushik Basu, World Bank Senior Vice President and Chief Economist.

Long-term housing finance is arguably the most important ingredient towards home ownership, yet the disparity across countries is stark: an average of 21 percent of individuals in highincome countries have an outstanding home loan, compared to a mere 2.4 percent in lower-middle and low-income countries.

Firms in developing countries also face substantial disparities.

Loan durations to firms in low-income countries average 23.3 months, less than half of the average for firms in high-income countries at 58.7 months.

Securing long-term financing, defined as investment funding that matures in a year or more, depends on the same fundamentals essential to tackling the current volatility in global capital markets: Policy makers need to focus on institutional reforms, such as promoting macroeconomic stability, establishing a

The report cautions, though, that long-term finance is not optimal or even necessary in all circumstances. It said firms match the maturity structure of their assets with liabilities, and typically seek shorter-maturity debt to finance payroll and inventory, while seeking longer-maturity debt for fixed. ¤

At the global level, this shortage of long-term financing also means that despite appeals by the Group of Twenty (G-20) and other key international groups, developing countries are struggling to mobilize the billions of dollars in financing they need to build badly-needed infrastructure in order to grow their national and regional economies.

OECSBusinessFocus Nov / Jan

|

69

MONEY MATTERS

CIBC FirstCaribbean Records Highest Quarterly Net Income Since Second Quarter of 2010

C

IBC FirstCaribbean announced its results for the third quarter of this fiscal 2015, recording its highest quarterly net income since the second quarter of fiscal 2010.

The Bank continued to deliver solid results against its strategic objectives of accelerating profitable revenue growth and improving operational efficiency by recording net income of $34.8 million in the third quarter, up $11.4 million or 49% over the prior year’s third quarter net income of $23.4 million.

For the nine month period ended July 31, 2015, net income was $87.0 million, up $31.9 million or 58% over prior year’s adjusted net income of $55.1 million for the same period.

Total revenue during the third quarter of fiscal 2015 increased by $7.1 million compared to the second quarter of fiscal 2015. Total revenue over the nine month period was down $7.9 million year over year primarily due to lower interest earnings from loans and securities. Some countries continue to experience low credit demand, additionally interest margins on loans and securities yields were lower.

While productive loan balances are down slightly over the prior year, an improved performance over the second quarter of 2015 was recorded with $80.6 million in loan growth as a larger proportion of the sales pipeline was converted into productive loans during the latter half of this quarter.

Operating expenses over the nine month period were down by $3.0 million compared with the same period last year as we continue to benefit from expense control initiatives and savings from our restructuring programme. Loan loss impairment expense was significantly lower by $43.1 million compared with the prior period’s adjusted expense of $77.9 million due to an improvement in the loss experience and recovery activity.

Additionally, non-productive loan balances were down 18% to $651 million compared with the same period last year as efforts continue to further strengthen the quality of our loan portfolio.

CIBC FirstCaribbean continues to make a number of investments

OECSBusinessFocus Nov / Jan

|

70

across the region pursuing its growth objectives while also demonstrating its continuing commitment to the Caribbean.

The Bank just recently announced that the Rendezvous Branch in Barbados will be converted into a first-class sales centre catering to Platinum Banking, Business Banking, Corporate and International Banking customers. It has also opened new branches across the region, most notably the Santa Cruz minibranch in Jamaica.

Another branch at Fairview in the Montego Bay area is under construction. Additionally, the Bank recently opened a Representative Office in Aruba and has plans to open a full service branch in 2016, as part of its expansion plan for the Dutch Caribbean.

The Bank’s focus on improving customer experience is generating results across our three main business segments. The SWITCH campaigns targeting mortgages and credit cards, low interest rate offers, 100% auto loan campaigns, Loan Saturdays, and Talk to me Tuesdays are a few examples of new initiatives designed to enhance the bank’s value proposition for customers. In addition, considerable progress has been made on making our lending decision goal of 48 hour turnaround a reality, specifically in terms of auto loans in Barbados, Cayman, and Jamaica.

CIBC FirstCaribbean is particularly proud of its activities as the leading infrastructure financier among the commercial banks in the Caribbean. These projects are an important element in the enhancement of productivity, competitiveness and growth throughout the Caribbean region. The new cruise pier and terminal in BVI and power projects with utilities in Cayman and Jamaica are some notable examples of the bank’s infrastructure finance work.

The Bank’s Tier 1 and Total Capital ratios remain strong at 21.5% and 22.8%, well in excess of applicable regulatory requirements.

We wish to thank the Board, management, staff and most importantly our clients for their loyalty and continuing support. ¤

www.oecsbusinessfocus.com

Scotia Profit Dips for 3Q 2015

S

ECCU Non-Performing Loan Ratio Highest in Region

T

he non-performing loans ratio in the Eastern Caribbean Currency Union (ECCU) stands at 18 percent, the highest in the entire Caribbean and well over the recommended 5 percent mark for the sub-region. The International Monetary Fund (IMF) is advancing several reasons for this.

COTIA Group Jamaica (SGJ) made $2.3 billion net profit for its July third-quarter 2015 or nearly one-quarter less than a year earlier due in part to lower

income.

Over the quarter, SGJ also liquidated a small subsidiary, InterLink Investments Ltd, which contained J$2.3 million in cash and equivalents.

Interest income at SGJ dipped by seven per cent to $7.3 billion in the quarter, which hid efficiency gains at the group.

Management held operating expenses flat at $4.9 billion of which salaries and staff benefits made the largest portion.

Jackie Sharp, President & CEO, blamed the fall in profits on shrinking margins and the asset tax disclosed in previous quarters.

“Despite this impact, our group posted commendable results for the quarter, driven by new client acquisition and growth in our key business lines: deposits and lending, insurance, asset management, and improvement in the risk profile of our assets. We continue to execute initiatives to improve operating efficiencies while helping our customers to enhance their experience through the use of more convenient and more cost-effective electronic channels,” she reasoned in statements accompanying the results.

SGJ stated that it improved its retail internet banking platform to allow customers the ability to transfer funds to accounts at any participating financial institution.

It also launched Scotia Vision Achiever, a programme that supports 24 small business owners with business coaching.

Total shareholders’ equity grew to $85 billion or 9.8 per cent higher than a year earlier as a result of internally generated profits.

“We continue to exceed regulatory capital requirements in all our business lines, and our strong capital position also enables us to take advantage of future growth opportunities,” stated SGJ in its financials.

The Group is organised into six main business segments: Retail Banking – incorporating personal banking services, personal deposit accounts, credit and debit cards, customer loans and mortgages; Corporate and Commercial Banking – incorporating non-personal direct debit facilities, current accounts, deposits, overdrafts, loans and other credit facilities and foreign currency transactions; Treasury – incorporating the Group’s liquidity and investment management function, management of correspondent bank relationships, as well as foreign currency trading; Investment Management Services – incorporating investments, unit trusts, pension and other fund management, brokerage and advisory services, and the administration of trust accounts; Insurance Services – incorporating the provision of life and medical insurance, individual pension administration and annuities. Other operations of the Group comprise the parent company and non-trading subsidiaries. ¤

IMF’s regional resident representative in the ECCU, Wayne Mitchell, gave a snapshot of the health of the financial sector in the Caribbean, and looked at the aspect of non-performing loans across the region.

“In the Eastern Caribbean, the standard is 5 percent (non-performing loans)… with the exception of Haiti and Trinidad and Tobago, all countries are way above the 5 percent with the Eastern Caribbean showing the highest non-performing loans ratio as of 2013/2014 at 18 percent.

So that’s extremely high and of great concern,” Mitchell said.

WINN asked Mitchell if a lack of adequate supervision of banks and lending agencies could be blamed for the high percentage of non-performing loans in the Eastern Caribbean. “The global recession, has had tremendous adverse impact on our economies and that has fed through to the banking systems,” Mitchell noted.

He explained that a decline in tourist arrivals, leading to a decline in revenue for both government and private sector, impacts borrowers’ ability to service loans. The IMF said that despite the high liquidity of banks in St Kitts and Nevis and the stability of the financial sector, private sector credit remains weak.

Mitchell offered an explanation as to why this is so. “The issue banks are facing is one of concern in terms of the riskiness of lending and so in an environment (which is) naturally risk averse, there is a tendency for them to be even more cautious in lending and jeopardizing their loans portfolios,” he said. ¤ OECSBusinessFocus Nov / Jan

|

71

MONEY MATTERS

A Guide to The Successful Entrepreneur

Y

By Samuel Rosenberg

ou have a great business idea and want to share it with everyone, but when you wonder if you can join the ranks of successful entrepreneurs, you may consider which characteristics are required to run a thriving business? Fortunately, you may already share many of the attributes of good leaders and the remainder can be learnt through education, finding a suitable mentor and matching these to your goals and targets.

Of the many traits shared by successful entrepreneurs, self-motivation, risk-taking and finding and adapting your particular niche, are clearly boxes to tick on your list.

When you begin your business, you will almost certainly be working long hours and every day of the week, because you will wish to go that extra mile to assist your success. This is why you must be self motivated which includes a considerable amount of hard work, not just in the early days, but perhaps for years to come. You will be directing both yourself and your business as you won’t have a boss to turn to, to listen for specific instructions and act upon those.

How often have you seen a great idea and wished that you had invented it first or brought the goods or service to market? As a successful entrepreneur, OECSBusinessFocus Nov / Jan

|

72

you will be seeking a niche product or service which matches the needs of sufficient individuals or businesses that can provide you with sufficient customers and long-term profit. Which gaps in the marketplace have you seen and identified as being the best niche for you to adapt into a profitable business, no matter how small your local market, village or island is?

We all take risks from time to time, but successful entrepreneurs often take larger risks, to achieve substantial targets. You must not be afraid to fail when you take larger risks. When you consider other successful businesses and business people, what risks did they take to enhance their business? When you take substantial risks, not everything will work out in the way that you would planned, but the most successful individuals will learn from previous failures and projects and find solutions to their problems.

By taking your business seriously and preferably, doing what you enjoy, you will be able to plan everything in meticulous detail. By managing all of your money wisely and always asking and never being afraid, you will learn how to beat your competition and ensure that your customer focus and shameless selfpromotion gathers the best social media response.

By staying ahead of technology and building your business team to the best that it can be, you will become the industry expert that everyone turns to because you have created a competitive advantage in your business and your people.

Because you are investing in yourself, you will always maintain the 100% effort required and always appear accessible as you build your trustworthy reputation.

By being closely involved with mastering negotiations you will learn how to take time away from your business and learn how to balance your business and family life so that both prosper. This in turn, helps you to become a successful entrepreneur. ¤

Samuel Rosenberg is the founder and CEO of Axcel Finance Ltd., the leading regional microfinance institution. Share your thoughts and email your questions to srosenberg@axcelfinance.com www.oecsbusinessfocus.com

Unicomer Group

Building US$60 Million Distribution Centre in Trinidad

A

sod-turning ceremony was held in August for the Unicomer facility in Freeport, Trinidad, which will include a distribution centre, technical service centre, business offices and a retail branch; and will bring 250 new jobs and a US$60 million investment to the local economy.

“In the many signals that this sod-turning ceremony for Unicomer’s Freeport Campus sends to our country, our region and our global trading partners, one in particular stands out, that is, that economic reforms over the past five years have worked, and Trinidad and Tobago is now one of the best places to invest and do business in this hemisphere,” said Trade, Industry, Investment and Communications Minister, Senator Vasant Bharath at the construction site.

European Union and Latin American nations including Cuba, Costa Rica, Venezuela, Panama, Guatemala and the Dominican Republic,” he noted.

“The environment is such that we are now experiencing the highest levels of foreign direct investment in our history. Right now, over 400 foreign firms are currently operating out of Trinidad and Tobago, including the regional headquarters for globally revered names such as Microsoft, British Petroleum and General Electric. This has helped to make us the largest Caribbean exporter to the United States. And we did not stop there. We continue to expand access to regional and international markets through trade agreements with the

In his address, Unicomer Group’s Vice Chairman and Executive Vice President, Guillermo Siman, stated that this is a “very ambitious project” for Unicomer. He thanked the government of Trinidad and Tobago for its support over the past 25 years, since Courts opened its doors in 1991.

The Trade Minister also thanked the executives of Unicomer “for the confidence you have demonstrated, and for continuing to stand as a partner and ally in the Trinidad and Tobago success story.”

He said unequivocally that he and his team have enjoyed the support of the people of Trinidad and Tobago, including the valuable customers; and will continue to invest in the country. ¤

OECSBusinessFocus Nov / Jan

|

73

TECHNOLOGY

Cable & Wireless Communications Partners with Ericsson To Deliver World-Class Mobile Broadband for the Region

U

nder the agreement, Ericsson covers equipment and a range of professional services, including project management, systems integration and support. It also includes software updates that deliver new capabilities in radio access, network management and network control. Delivering the demand for high performance, in addition to the growing need for coverage and capacity, requires continual network evolution.

Network performance is one of the most important factors for consumer satisfaction and the comprehensive transformation of CWC’s network in conjunction with Ericsson is already paying off for the operator, with improvements in several key performance and customer satisfaction metrics.

high-quality communications services to our customers and to working together to keep our outstanding network position. It is key for us to be working with global, innovative vendors such as Ericsson.”

Clayton Cruz, Vice President, Ericsson Region Latin America & Caribbean, says: “With this agreement, we further strengthen our long-term strategic business relationship with Cable & Wireless by supporting them in meeting their commitment to excellent services for their customers in the Caribbean and Latin America.”

“According to our worldwide benchmark, CWC’s regional mobile network ranks with the best-in-class worldwide. In a

•

Cable & Wireless Communications (CWC) extends partnership with Ericsson for the deployment of 4G LTE technology, 3G network transformation and the latest Ericsson software with advanced smartphone features

•

Ericsson technology to power CWC’s high-performing, top-rated networks in order to continue delivering superior quality user experience for over 6 million Caribbean and Latin American consumers throughout 42 countries

•

Mobile data traffic expected to grow seven-fold in the Caribbean and Latin America by 2020 Ericsson (NASDAQ: ERIC) has extended its strategic partnership with Cable & Wireless Communications Plc (CWC) to transform the operator’s 3G network and deploy 4G LTE technology. The agreement enables CWC to continue delivering world-class mobile, data and voice consumer experiences to over 6 million Caribbean and Latin American consumers throughout 42 countries. The agreement includes the modernization of existing mobile radio access and core network infrastructure for all CWC’s markets.

According to the latest Ericsson Mobility Report, by 2020, 86 percent of all mobile data traffic in the Caribbean and Latin America will come from smartphones, while 78 percent of data traffic in the region will come from LTE. In addition, mobile data traffic is expected to grow seven-fold in the region by 2020.

Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications, says: “Mobile broadband data is a key driver for economic growth in the Caribbean and Latin America.

The launch of next-generation 4G LTE and 3G will ensure our customers continue to enjoy high speed access on a superior network with unparalleled customer service.”

Alloni also added, “The extension of our strategic partnership with Ericsson consolidates our commitment to delivering OECSBusinessFocus Nov / Jan

|

74

very competitive, Networked Society, a network with superior performance is one of the key differentiators and a strategic asset for operators. Our collaboration ensures the delivery of a high-quality mobile broadband experience,” said Cruz.

Ericsson is present today in all high-traffic LTE markets, including the United States, Japan and South Korea, and is ranked first for handling the most global LTE traffic. Forty percent of the world’s mobile traffic is carried over Ericsson networks –¬twice as much mobile traffic as the closest competitor. Ericsson is first in LTE market share within the world’s top 100 cities.

More than 220 LTE RAN and Evolved Packet Core networks have been delivered by Ericsson worldwide, of which 170 are live commercially. ¤ www.oecsbusinessfocus.com

OECS and CTU Partner to Promote ICT Development in the Eastern Caribbean

A

n agreement between the Organisation of Eastern Caribbean States (OECS) and the Caribbean Telecommunications Union (CTU) promises to deepen collaboration between the institutions in leveraging information and communications technology to support development in the sub-region.

Speaking at the signing ceremony in Tortola, British Virgin Islands on September 30, representatives from both organizations expressed confidence that the formalization of their collaborative relationship would redound to the benefit of their member states.

“This agreement will allow us to converge our efforts and expertise and multiply the output of our shared objectives,” said Dr. Didacus Jules, Director General of the OECS Commission.

“The CTU has an unrivaled track record as an actioned-oriented organization and as the region’s premiere telecommunications body. We are looking forward to collaborating more closely with them to develop strategies and practical initiatives to promote the interest and advancement of OECS member states through the effective use of information and communication technologies (ICT),” Jules added.

Dr. Didacus Jules, Director General of the OECS Commission, and Nigel Cassimire, acting Secretary General of the CTU sign agreement.

Nigel Cassimire, speaking on behalf of the CTU Secretary General, Bernadette Lewis stated “The CTU has a long history of supporting the sub-region in areas that include telecommunications policy formulation, spectrum management, internet exchange point proliferation, technical capacity building and public education on the development opportunities ICTs presents. We fully expect our work in the sub-region to be strengthened by this agreement.” ¤

Providing a weekly service from the UK & Europe to the Caribbean, as well as inter-island services between these islands: Antigua (St. John’s) - Barbados (Bridgetown) - Dominica (Roseau) - Dominican Republic (Manzanillo) - Grenada (St. George’s) - Martinique (Fort de France) - St. Kitts (Basseterre) - St. Lucia (Castries/Vieux Fort) - St. Vincent (Kingstown) - Trinidad (Port of Spain). www.geestline.com

UK Office: +44 (0)1489 873 500

info@geestline.com

OECSBusinessFocus Nov / Jan

|

75

TECHNOLOGY

Cable & Wireless Outranks

US$7 Billion

Investment Planned

by FLOW for Jamaica This venture could result in providing 400 individuals job opportunities in the new call centre

I

n less than 12 months, FLOW, the rebranded telecommunications provider, will formulate establishment of a call centre, which is part of a $7-billion investment that will transpire all across the island.

Through its commitment to the long-term development of the telecommunications sector in Jamaica and the Caribbean, the recent merger of telecommunications companies LIME and Flow is expected to further develop the telecoms provider’s infrastructure, systems and staff, aimed at “enhancing the overall customer experience of the new Flow brand,” according to Managing Director Garry Sinclair.

“In the coming months there will be improvements in the business as we establish a call centre in Kingston which will create about 400 jobs,” he stated in an e-mailed response to the Jamaica Observer. The move is aimed at returning the El Salvador contact centre back to Jamaica.

“The way we see it, we are renewing our vows with Jamaica,” explained Sinclair, “and to do so, we have to make a spirited effort and consequential investment to greatly enhance the island’s telecoms landscape.”

According to reports, the new call centre will be operated from a leased space at the Central Sorting Office, and is expected to be completed by March 2016. The development is expected to facilitate voice, e-mail, chat and live chat.

OECSBusinessFocus Nov / Jan

|

76

Sinclair stated that Flow’s investment will also focus on the expansion of its mobile and hybrid fibre co-axial network, to increase access to high-speed Internet for fixed and mobile subscribers islandwide.

Additionally, the company plans on upgrading its billing and customer relationship management systems, storing designs and product displays, and will also be introducing full-service bill payment kiosks in eight of its full-service locations islandwide over the next two months.

“Flow will introduce the first full-service bill payment kiosk in the island, and we will be retraining our colleagues to ensure that they delight customers during every interaction,” Sinclair told the Caribbean Business Report.

Cable and Wireless Communications (CWC) recently officially launched a refreshed Flow in Jamaica as a continuation of the telecommunications company’s roll-out across the Caribbean, which began in Barbados last month.

Recognised as one of the Caribbean’s largest investors, CWC recently embarked on a US$1.05-billion major investmentled strategy across the Caribbean and Latin America, increasing mobile and broadband penetration throughout the region.

During the launch, Sinclair stated that “consumers will now get to see firsthand the combined strength of the new company”, especially as it prepares to offer the most technologically advanced quad-play services in the region. ¤

Global Competitors

C

ABLE & Wireless Business Solutions was recently placed above international counterparts engaged in the business of technology.

According to the Gartner Magic Quadrant report, published in the second quarter of 2015, C & W Business Solutions -- a subsidiary of the merged operations of Columbus Communications and Cable & Wireless Communications -- outranked companies such as IBM, Amazon, AT&T, Fujitsu, Microsoft, Verizon and Hewlett Packard for providing disaster recovery as a service (DRAAS).

“It is the first time that a relatively new regional provider has beat out major global providers such as Verizon and Seagate on service quality and timeliness.

C& W has also had the highest reference customer satisfaction rating on the magic quadrant report,” a release noted. Cable & Wireless Business Solutions launched a suite of its cloud-based technological solutions in August.

At the launch Vice President of Business Development, Andrew Fazio, explained that servers which provide the solutions and software to businesses in Jamaica are housed in Curacao, which is located outside of the hurricane belt and far from earthquake-causing fault lines, and connectivity is provided through 44,000 miles of under-sea fibre cable.

The service therefore enables back-up and replication of data as well as builtin security, so that there is almost no interruption in the event of a disaster. It is also monitored 24/365 by a network operating centre, also based in Curacao.

In response to the recognition, Donovan White, vice-president, C&W Columbus Business Solutions, said: “We are pleased to have this solution available for Jamaican businesses. Our number one ranking on the Magic Quadrant Report is a powerful boost and reflects the quality solutions we make available to business clients.” ¤ www.oecsbusinessfocus.com

Digicel to Open Largest Data Centre in Trinidad & Tobago Digicel Group Joins Mitel Global Network of Partners

D

igicel Group recently announced that it has become an authorised partner of Mitel, a leading provider of cloud and premise-based unified communications and collaboration software solutions.

The partnership means that, as a total communications and entertainment provider, Digicel is now able to provide Mitel’s advanced unified communications solutions to customers across the Caribbean, Central America and South Pacific.

“Organisations today are looking for advanced communications solutions that address their business needs and deliver measurable cost benefits and improved business performance.

Mitel’s ability to deliver this value to customers is based on our strong network of partners,” said Philip Keenan, Mitel’s vicepresident, U.S. partner business.

“We welcome Digicel Group, a leading communications provider in its regions, and look forward to working together to provide customers with the options they need to build their business.”

Mitel authorised partners must meet a series of stringent requirements in order to sell and support Mitel products in the marketplace. These include ongoing training for sales and technical services; processes and benchmarks to provide quality customer service; and a high degree of expertise in voice communications, data networking and applicable applications such as virtualisation, conferencing, collaboration, contact centres and mobility.

Martin Carroll, Chief Operating Officer for Business Solutions at Digicel Group, comments; “With the addition of Mitel’s world class portfolio of advanced cloud and premise-based communication solutions to our existing offerings, we are confident that we can provide customers of any size with solutions that are tailored to meet their specific needs and deliver exceptional business value.

T

elecommunications giant Digicel is currently completing work on the largest data centre in T&T. The facility, which will be one of the largest in the Caribbean, will have an overall capacity of 200 racks and will support SSAE SOC Type II and ISO27001 certification which focuses on the business processes and the security of the customer’s data.

ISO/IEC 27001 is the best-known standard compared to the others and provides requirements for an Information Security Management System (ISMS).

Through the use of ISMS, a systematic approach to managing sensitive company information so that it remains secure, Digicel will be able to include people, processes and IT systems by applying a risk management process thus helping small, medium and large businesses in any sector keep information assets secure.

When launched, the data centre will be concurrently maintainable, providing 99.982 per cent availability and requiring no shutdowns for equipment replacement and maintenance.

A redundant delivery path for power and cooling will be added to the redundant critical components of Tier II so that each and every component needed to support the IT processing environment can be shut down and maintained without impact on the IT operation.

The data centre will offer a full range of Cloud & Managed services, including off-site data storage which can be backedup on island or in one of their other data centres across the Caribbean or a combination of both.

We continue to expand our portfolio of fixed mobile convergence (FMC) products and services in line with growing customer demand for mobility in the workplace.

Disaster Recovery as a Service (DRaaS) has been growing at a fast rate and with the Caribbean wide high capacity MPLS network Digicel will provide diverse, low latency connectivity off-island and replicate your infrastructure and data across their data centre locations.

The Digicel Business portfolio of cloud hosted voice and data solutions is the widest available across the Caribbean enabling improved mobility and business efficiency in organisations both large and small.” ¤

Other services to be offered include Infrastructure as a Service (IaaS), Virtual Desktop Integration (VDI), BYOD, MS Office 365 and Managed Security. ¤ OECSBusinessFocus Nov / Jan

|

77

TOURISM

Seaborne Airlines Announces New Service Between Puerto Rico and Antigua-Barbuda

S

eaborne Airlines, the fastest growing airline in the Caribbean, will introduce non-stop service between the carrier’s hub in San Juan’s Luis Munoz Marin International Airport and Antigua and Barbuda newly inaugurated V.C. Bird International Airport, effective December 13, 2015. The service will represent the only non-stop connection between Puerto Rico and Antigua and Barbuda.

The flights will provide convenient connecting opportunities to Seaborne’s sizable portfolio of airline connecting partners at San Juan Luis Munoz Marin International Airport. In tandem with connections to other Seaborne flights in the Caribbean, and connecting partner airlines Air Europa, American Airlines, Delta Airlines, JetBlue Airways, and United Airlines, passengers will be able to connect to 33 destinations in the Americas and Europe.

JetBlue in Discussions to Start Flights to Guyana

U

S airline JetBlue has initiated discussions with the Guyana government about introducing flights into that country.

The initial talks were held on the sidelines of the recent Florida Conference on Current Caribbean Issues: The Diaspora Discussion and will be followed up with a team from the airline visiting Guyana to address the issue in more detail with the relevant government ministries and agencies.

“Jet Blue has indicated its interest in providing service to Guyana and I have indicated to the airline that Guyana is ready to welcome them,” Guyana’s Vice President and Minister of Foreign Affairs Carl Greenidge said after having discussions with JetBlue’s Vice President for Network Planning Dave Clark.

“There are some specific issues such as fuel costs in Guyana and others that have to be addressed but I would say they now have a clear indication that they are welcome and we are prepared to examine and seek to resolve the issues about which they have concerns.”

It is widely speculated that JetBlue is eyeing service to Guyana with a stopover in a destination such as Barbados before introducing a direct service from New York once it acquires aircraft that can handle long haul flights. ¤

OECSBusinessFocus Nov / Jan

|

78

All flights will be operated by 34-seat Saab 340 aircraft. The plane operates with two pilots and a flight attendant, and offers inflight service, a roomy cabin with overhead bins, and other amenities.

Service will operate four times weekly on a year-round basis. To celebrate the new non-stop service, Seaborne Airlines is offering a promotional fare of $128 each way, inclusive of all taxes and fees.

“We are excited to make Antigua the 17th airport served by Seaborne Airlines in the Caribbean, “ said Seaborne CEO Gary Foss, “I expect visitors and residents of Antigua and Barbuda alike to appreciate Seaborne’s award-winning customer service, commitment to low fares, and connectivity to our airline partners.”

“Puerto Rico continues to shine as a first-rate destination. Our alliance with Seaborne continues to strengthen the connections between Caribbean destinations and our position as the leading air access hub of the region”, stated Ingrid I. Rivera Rocafort, executive director of the Puerto Rico Tourism Company. “With this new route between San Juan and Antigua we expand our reach towards new markets in the area and provide more options for travelers who want to visit multiple destinations during their vacation.”

Antigua and Barbuda’s minister of tourism, Asot Michael said, “With a more modern, efficient airport terminal built to enhance the experience of Antigua and Barbuda visitors, we are pleased that Seaborne will be arriving into the destination this winter, increasing our airlift and providing us with the ability to offer more flight options to our visitors, as well as truly positioning Antigua and Barbuda as a major gateway for passengers connecting to other Caribbean destinations.” ¤ www.oecsbusinessfocus.com

LIAT Resizing to Become a Smaller Airline Service

O

ver 160 workers of regional airline LIAT have accepted Voluntary Severance Packages as the carrier continues to implement a strategic plan which will see it becoming a “smaller” and more “efficient” entity in 2016.

LIAT Chief Executive Officer David Evans, who revealed the “broad numbers” after the airline’s shareholder governments met here, said the ongoing process is going well but at a “sensitive” stage.

Evans told at the post meeting news conference, that LIAT is in ongoing discussions with trade unions “who have a good understanding that if we are going to be a good airline we simply can’t carry the cost.”

The Antigua-based airline wants to send home close to 200 staff throughout the 18 destinations it serves and has also announced plans to cut the number of aircraft it operates.

He said the process was one third complete and added that while Antigua had more LIAT staff than elsewhere “this is not an Antigua cost reduction programme, it’s a LIAT cost reduction programme.”

“In some cases you will see us approaching things in different and more efficient manner, which would require much less staff than we have at the moment,” Evans added.

He said LIAT will continue to talk to trade unions across the Caribbean to ensure that other staff that would have to be sent home who did not apply for the voluntary severance package will be dealt with in accordance with the region’s labour laws. ¤

OECSBusinessFocus Nov / Jan

|

79

ENVIRONMENT

Barbados Hosts CDB Sustainable Energy Workshop

R

(L-R) Dr. Andreas Taeuber, Project Leader, Renewable Energy and Energy Efficiency Technical Assistance, Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ); Sen. the Hon. Darcy Boyce, Minister in the Office of the Prime Minister of Barbados; and Principal Advisor of the Caribbean Renewable Energy Development.

epresentatives of Caribbean businesses, along with financiers and government officers in the clean energy sector, will get a better understanding of how to plan and prepare for bankable projects in renewable energy and energy efficiency.

Some 30 project owners, developers, funders, financiers and consultants from several Caribbean countries are attending a regional workshop in Barbados on financing tools and approaches for sustainable energy projects.

The workshop is organised by the Caribbean Development Bank (CDB) and the Caribbean Community (CARICOM) Secretariat supported by the government of Germany, through the Renewable Energy and Energy Efficiency Technical Assistance (REETA) Project; the Caribbean Renewable Energy Development Project (CREDP); United Nations Development Programme (UNDP) and CDB. The overall objective is to facilitate the development of investment grade calculations and risk mitigation for securing investments in energy efficiency and renewable energy systems and services. The workshop is one in a series of capacity building initiatives facilitated by CDB. “CDB is particularly focused on bridging the existing gap of appropriate financing for the development of Sustainable Energy in the Region. To achieve this, the Bank recognises the need to strengthen local and regional capacity, including that of the financial sector. This workshop…is part of this strategy,” said Tessa Williams-Robertson, head of CDB’s REEE Unit.

According to Dr. Devon Garner, Programme Manager, Energy, CARICOM Secretariat, the CARICOM Energy Programme places importance on financing and mechanisms for supporting energy projects.

Garner disclosed that the work of the CARICOM Energy Programme was organised along four integrated thematic paths which included knowledge management and capacity OECSBusinessFocus Nov / Jan

|

80

building, and that these integrated paths had financial links and implications.

Senator Darcy Boyce, Minister in the Office of the Prime Minister of Barbados with responsibility for energy, noted that the workshop was well timed.

“This workshop has come at an opportune time when CARICOM governments have embraced sustainable energy in their policy agenda as a way of increasing the uptake of renewable energy and energy efficient technologies. It is evident that the potential for the use of indigenous alternative energy sources in the region is substantial. These resources are both varied and abundant.

The only obstacle standing in our way is the inherent resolve to utilize these resources for the benefit of the people of the region and to translate this potential into actual realization,” Boyce said.

Participants will delve into: life/project cycle cost calculations; dynamic economic calculations for energy projects; calculation tools for energy projects; calculation and modeling of actual energy projects.

“The main objective of this workshop, which targets owners, developers (including utilities), funders, financiers and consultants of sustainable energy projects, is to facilitate the development of investment grade calculations and risk mitigation of sustainable energy projects, aimed at securing investments in energy efficiency, and renewable energy systems and services,” said Dr. Andreas Taeuber, head of Project REETA. CDB’s emphasis on sustainable energy is in response to longstanding energy security concerns, including the relatively high cost of energy imports and the impact on economic competitiveness for the majority of borrowing member countries (BMCs). A radical shift in the supply and use of energy to reduce the dependency on imported fuel is urgently required, particularly in the context of persistent economic challenges.

CDB’s Energy Policy articulates a vision for “the transformation of the energy sector to significantly increase energy security and sustainability, enabling economic growth.” ¤ www.oecsbusinessfocus.com

Eastern Caribbean Representatives Meet in Nevis for Coral Reef Monitoring Workshop

M

arine biologists, fisheries officers, scientists and natural resource managers from the Eastern Caribbean attended a workshop in Nevis on marine, socio-economic and management effectiveness data collection methods.

Representatives contributed to drafts of their country’s first ever coral reef report card, which will guide an understanding of the overall health of marine areas and help leaders develop strategies to protect them.

The six-day workshop was part of the Climate-Resilient Eastern Caribbean Marine Managed Areas Network (ECMMAN) project and was hosted by The Nature Conservancy, along with regional partners UWI – Center for Resource Management and Environmental Studies (CERMES), International Union for the Conservation of Nature – Biodiversity and Protected Areas Management Programme (IUCN-BIOPAMA), OECS Commission and CaMPAM.

On scuba dives into The Narrows, the proposed marine managed area between the islands of St. Kitts and Nevis, participants learned to track characteristics like algae cover, which reveal a larger story about the overall health of the ecosystem.

Other participants went into the community to practice social and economic data collection skills, after preliminary training about the global socioeconomic monitoring initiative for coastal management (SocMon). Participants also gained experience reviewing the management effectiveness tracking tool, which evaluates management practices implemented within protected areas.

“The management of coastal resources begins with managing people,” said Maria Pena, coordinator for the Caribbean SocMon initiative. “Managing people requires understanding their needs, perceptions and vulnerabilities. This is essential for assessing, predicting and managing coastal resource use over time and will strengthen marine managed area management in the region.”

Saint Lucia representatives included Craig Henry from the Saint Lucia National Trust, Allena Joseph and Thomas Nelson from the Department of Fisheries, as well as Joan Norville, representing the OECS Commission.

“I have a deeper appreciation of how these monitoring tools, when integrated, can assist managers to plan more effectively, communicate clearly and make more sound decisions in their protected areas,” Henry said.

“This workshop improves how Eastern Caribbean shallow marine resources are monitored by evaluating the three major systems at play, the coral reef ecosystem, and the socio-economic and management systems,” said John English Knowles, conservation information manager for The Nature Conservancy. “The ECMMAN project continues to innovate how it advances marine management in the Eastern Caribbean.”

ECMMAN is sponsored by the German federal ministry for the environment, nature conservation, building and nuclear safety (BMUB) and supports the development of marine managed areas in Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Vincent and the Grenadines and Saint Lucia.

By training individuals throughout the Eastern Caribbean, the ECMMAN programme is building a network of committed and well-informed individuals who contribute to a regional database of information. The data provides the facts upon which each country can tell a vibrant story that compels its citizens to take responsible actions to protect their ecosystems.

“It’s people who affect the reef,” said Patricia Kramer, a consultant for The Nature Conservancy, who will use feedback and data from the workshop to publish each country’s coral reef report card, “and it’s people who can change them for the better.” ¤

OECSBusinessFocus Nov / Jan

|

81

IN THE KNOW

WICB Hires UK Company for New Commercial Strategy

T

WICB president Dave Cameron

UTT Launches its Aviation Campus

T

he University of Trinidad and Tobago (UTT) officially launched its Aviation campus, two years after it began offering courses in aviation.

Curtis Manchoon, UTT’s Chairman said the cost of the campus will be $92 million when fully completed and construction was expected to be completed at the venue at Camden, Couva by October.

Manchoon said there was a need for aviation training and UTT moved in to fill that void. In May 2012, a Memorandum of Understanding (MOU) was signed amongst several state agencies signifying growth in the aviation industry. Aviation classes are being conducted at the UTT’s Point Lisas Campus and at the National Helicopter Services Limited (NHSL) site in Couva.

Manchoon told the Express: “In 2013, we conducted a UTT feasibility study on a needs analysis for training in the aviation industry looking at demand and based on that, we actually went ahead and we launched a certificate in aviation maintenance.

The campus, a 39,000 square feet facility was built on at least 10 acres of land in Camden and will have a main hangar, classrooms, boardrooms and administrative offices. Construction began in January this year. UTT was given 20 acres on which to develop its campus and some land still needed to be cleared Manchoon said.

OECSBusinessFocus Nov / Jan

|

82

On August 7, the Boeing 727 jet, the 9Y-UTT arrived at the campus and will be used for training. The jet was given by FedEx to the Civil Aviation Authority who then donated it to UTT. Minister of Tertiary Eduation and Skills Training Fazal Karim said then that Dr. Michael Dowlath and his team from the Accreditation Council of Trinidad and Tobago (ACTT) had completed a quality assessment to ensure that the aviationrelated programmes to be offered by UTT would be GATE-approved.

The campus is a result of a partnership amongst several state agencies including Caribbean Airlines, the Trinidad and Tobago Civil Aviation Authority and the National Training Agency (NTA) the National Helicopter Services Limited, the Trinidad and Tobago Air Guard and the MIC Institute of Technology. Manchoon said,”We still have some work to be done.

Simple things like the air-condition still has to go in, maybe some electrical and that kind of thing but the main campus, we have outfitted it with furniture and so on, so there are finishing touches.”

The university was also in the process of staffing and accreditation of courses he said. UTT is offering the Bachelor of Science in Aircraft Maintenance and Management this year, along with professional development programmes.

Flight training programmes are also expected to be added to the aviation programme. ¤

he West Indies Cricket Board has hired the United Kingdom-based company Pitch International in a multi-year deal to develop and implement a new commercial strategy, with the aim of boosting the organization’s revenue.

Pitch International, a leading sports marketing agency, will serve as the Board’s exclusive commercial consultant and sponsorship sales agency, and have identified four objectives of the new commercial strategy.

In addition to increasing revenue, Pitch International is expected “to create a clear commercial identity for West Indies cricket, create a cost-effective marketing platform that delivers for commercial partners and [establish] a strong digital platform.” “The WICB is delighted to secure a long-term partnership with Pitch International,” WICB president Dave Cameron said.

“This is an extremely important relationship for the WICB, as we look to grow the appeal of Windies cricket on the global stage. We are excited about the opportunities our partnership with Pitch International offers and we look forward to welcoming them as an extension of our commercial team.”

The WICB said it would soon be revealing elements of the new commercial strategy.

Jon Varney, partner at Pitch International, said the company was anxiously looking to the partnership. “Our goal is to implement a sustainable commercial strategy which offers genuine regional and global marketing platforms for sponsors, and delivers long-term mutually beneficial partnerships,” he said.

“The WICB is making positive steps to return the Windies to their glory days, and we are delighted to be working with them to help grow their business.” ¤ www.oecsbusinessfocus.com

CARICOM Secretary Antigua’s AUA Offers Medical Scholarships to General Meets St Maarten Montserrat Students Delegation on Associate Membership

M

ontserrat students have been offered a scholarship to pursue studies at the American International College of Arts and Sciences (AICASA) or the American University of Antigua – College of Medicine (AUA).

Following discussions with premier of Montserrat Donaldson Romeo on the possibilities of having Montserrat students pursue medical studies in Antigua and Barbuda, Prime Minister Gaston Browne approached the American University of Antigua for assistance.

The Vice President of International Affairs and Dean of Library Services and academic support, Dr Majid Pathan announced that, following consultations with the president of AUA, Neil Simon, the request made by Browne has been approved.

“Due to our excellent relationship with the Hon. Gaston Browne, whom these institutions and their managements hold in the highest regards, the president is extremely happy to grant one scholarship annually to a citizen of Montserrat either for courses leading to an Associate of Science in Health Sciences or the Doctor of Medicine (MD) degree,” Pathan announced.

Browne, in commenting on the approval of his request, said that his government sees the education of the young people of Antigua and Barbuda and the region including the sister nation of Montserrat, as fundamental towards our nations’ future development.

“That is why our government places great emphasis in ensuring that as many as possible of our young people are given opportunities to pursue tertiary level education,” he said.

Under the AUA/AICASA scholarship programme, Montserratian students, as are Antiguan and Barbudan students, will be required to maintain a satisfactory academic progress (SAP) and maintain a 3.0 GPA or higher in each course and semester.

The AUA and the AICASA grant six scholarships each on an annual basis for Antiguan and Barbudan students to pursue studies in their institutions. ¤

(l-r) Mr. Neville Bissember, Advisor to the Secretary-General; Ms. Safiya Ali, General Counsel, CARICOM Secretariat; Mr. Henlsey Plantijn, Secretary-General of the Ministry of General Affairs, Sint Maarten; Ambassador Irwin LaRocque, CARICOM Secretary-General; Ms. Jule Panneflek-Vrutaal, Legal Advisor, Central bank of Curacao and Sint Maarten; Mr. Patrice Gumbs, Senior Policy Advisor, Directorate of Foreign Relations, Ministry of General Affairs, Sint Maarten; Ambassador Colin Granderson, Assistant Secretary-General, Foreign and Community Relations, CARICOM Secretariat (CARICOM Secretariat photo)

T

he secretary-general of the Caribbean Community (CARICOM), Irwin LaRocque, met with a delegation from St Maarten – one of five Caribbean countries seeking associate membership in CARICOM – at CARICOM Headquarters in Georgetown, Guyana.

In addition to discussions on the terms and conditions of associate membership, the delegation received information on the structure and work of CARICOM and the ongoing reform of the Community and the Secretariat.

St Maarten already enjoys a good relationship with CARICOM, as it has attended meetings of the COHSOD (Council for Human and Social Development) as an observer; it participates in the Caribbean Public Health Agency (CARPHA) and offers the Caribbean Examinations Council (CXC) curricula and examinations in its schools.

The delegation also met with the technical directorates of the CARICOM Secretariat and representatives of CARIFORUM. The secretary-general previously met with delegations from French Guiana, Guadeloupe, Martinique and Curacao. ¤ OECSBusinessFocus Nov / Jan

|

83

IN THE KNOW

CXC Moves to New

Headquarters Vice Chancellor of the University of the West Indies and Chairman of CXC, Professor Sir Hilary Beckles (left) joins with Barbados Prime Minister, The Hon. Freundel Stuart to unveil the plaque signalling the official opening of the new headquarters of CXC.

T

he Caribbean Examinations Council (CXC) is being lauded for the role it has played, not only in the education and development of Caribbean people, but to the regional integration movement.

Delivering the feature address at the official opening of the new CXC headquarters, Prime Minister and Chairman of CARICOM, Freundel Stuart said that the assessment body, created in 1972, has been a boost to our regional culture as efforts have

been made to incorporate in its syllabuses the work of regional writers. He made the comments as he spoke of the development of the regional entity, which has grown from a fledgling institution that assessed 58, 709 candidates in five subject areas in 1979, to one now offering examinations in as many as 35 subject areas to a greater number of students, reaching nearly 200, 000 last year.

The Council’s assessments have gained international recognition and as such can compete with examinations offered anywhere else in the world. But perhaps one of the greatest achievements has been the provision of Caribbean quality assessments and certification that can facilitate the movement of skilled and qualified people across the region, for the benefit of the various territories, he added.

OECSBusinessFocus Nov / Jan

|

84

The Prime Minister made the point while noting that in 2015, regional candidates taking examinations offered by the CXC can choose to be assessed in a range of subject at the levels of the Caribbean Secondary Examination Certificate (CSEC) and the Caribbean Advance Proficiency Examination (CAPE). Also of significance, he said, is that the needs of countries of the region are being catered to, as the CXC also offers assessments in the Caribbean Vocational Qualification and the CXC Associate Degree among other areas.

Another important contribution of CXC has been the generation and provision of data of immense benefit to schools, Ministries of Education and Governments. The analysis of data about subject entries, candidates entries and performance informs the decision making process in schools, as well as decision making at the level of policymakers. The assessment data generated by CXC also contributes to educational planning and development across the region, the Prime Minister added.

He told the sizeable gathering that the data also supports comparative analyses and assists in making decisions which can positively impact on the delivery of instruction in schools across the Caribbean. He indicated that given the increasing emphasis on evidence based decision making required by international lending agencies, the data provided by CXC is indispensable.

(JRT) ¤ www.oecsbusinessfocus.com

WARFS 2015

CONFERENCE

A Caribbean academic is urging regional governments to increase collaboration with the international community to enhance measures to prevent the adverse effects of both communicable diseases and the “importation of chronic diseases” into the Caribbean with the consequential health and economic burden on regional economies.

Former Adjunct Professor of Medicine, University of the West Indies, , and Honorary Consultant Physician and Cardiologist, Dr Sir Trevor Hassell said the region’s economies lack in many instances the funding, technical support and sometimes the expertise to combat the negative impact of diseases; and therefore there is a need for enhanced levels of support for these Small Island States of the Caribbean from the international community.

“Very often, when we discuss the communicable and non-communicable diseases we do so almost exclusively from the health perspective with emphasis on sickness and death, but these diseases have a significant adverse impact on development with the potential to slow or reverse the gains achieved in the region over the past several decades. There is therefore a need to convey to the international community that the issue of communicable and non-communicable diseases requires special consideration in the particularly vulnerable countries of the Caribbean,” he said.

Dr Hassell noted that the international community should assist countries in the region in the development, implementation and sustainability of best practice disease monitoring and surveillance.

He said it is important that the international community become aware of the “tremendous susceptibility” of the region to both communicable and non-communicable diseases and lend technical support to the region to make the people of the region less susceptible and vulnerable with the taking of swift measures to prevent these diseases entering the region from developed countries.

He cautioned that in collaborating in efforts to prevent and control chronic diseases, there was need for transparency and sensitivity of conflict of interest issues.

Dr Hassell, who is also President of the Healthy Caribbean Coalition: a civil society regional alliance for combating chronic diseases, charged that the region is also facing specific challenges due to globalization. He said many chronic diseases have proliferated in the region as people adopt the living habits of individuals in developed countries.

The conference is themed: Risk factor surveillance in the 21st century Consolidating the past – looking into the future.

Thus by way of example, said Dr Hassell, some40 years ago, there were very few fast food restaurants in the Caribbean and sugar sweetened beverages and ultra-processed foods were not consumed to any appreciable extent. However presently, there is a proliferation of fast food restaurants and the consumption of sugar sweetened beverages and ultra processed foods has increased exponentially leading to obesity and resulting chronic diseases., ,” he added.

The doctor argues that in order to combat the occurrences of these illnesses, Caribbean countries need to come together and “work more effectively as a region” with greater support of PAHO/ WHO and adopting a “whole of society “ approach that includes, governments, the private sector and civil society working together.

The 9th WARFS Conference will be hosted by American University of Antigua College of Medicine (AUA) on the beautiful twin island state of Antigua & Barbuda.

Other topics to be discussed include: The role of big data and risk factor surveillance – ethical concerns, technical issues.

Is the traditional epidemiological view of surveillance valid in the 21st century?

Are we caught in traditional thinking?

The role of positive health.

How can NCD surveillance assist in major communicable disease outbreaks?

Inequity in capacity – how to enhance capacity in developing countries.

The conference’s keynote, plenary sessions, and concurrent presentations will be held November 18-20 at the Sandals Grande Resort Antigua.

For more information on the conference please visit http://www.warfs15.com.

OECSBusinessFocus BusinessFocus Nov Nov/ /Jan Jan | | 85 85

Crossroads Centre Antigua 36-bed chemical dependency treatment for adults 25 and up. Level of care: Sub-acute detox, rehab, gender-specific transitional living (The Sanctuary, Florida, USA), engendered half-way house (Bevon House, Antigua).

A Commitment To Healing The unfortunate reality of life is that countless people are addicted to substances and other unhealthy behaviors. The reasons for addiction are varied and multidimensional; as a result help must likewise be multimodal, individualized and continuous for as long as needed. This is the commitment made by the team at Crossroad Centre, Antigua. Since opening its doors 17 years ago to its first Client, Crossroads Centre has kept this commitment to its founder, Eric Clapton’s and his vision of a premier facility that provides world-class treatment to persons with addictive disorders throughout the Caribbean and the world.

Under the watchful eye of a 24 hour nursing medical and clinical team Crossroad, cocoons their clients in a healing, nurturing environment using education, medical detoxification, nutritional counseling, individual and group therapy, meditation, yoga, art therapy, fitness training, acupuncture and massage to help them recapture that balance.

Crossroads Centre has recognized that addiction is not an individual struggle, but rather a family and community affair; therefore incorporated into the treatment is a family program and continuing care intervention both providing the tools needed to support and strengthen sobriety. Treatment at Crossroads Centre is ongoing and continues with transitional living at their facilities; The Bevon House in Antigua for local and regional clients and The Sanctuary in Delray Beach Florida for international clients. During the six month stay, clients continue to be guided, and prepared for a life free of addiction.

Support of Crossroads Alumni continues for 2 years after treatment.

Crossroads Centre, Antigua views addiction just as the name implies, as a crossroad in an individual’s life with the goal being to help clients choose the right path for their recovery journey. The approach to treatment is holistic and grounded in the 12-step fellowship, with its treatment team working to help clients regain optimal physical health whilst strengthening their mind, and discovering a spiritual and emotional balance.

Care is built in partnership with family, friends and colleagues in the 12-step community throughout the world.

Crossroads is the first addiction facility in the Caribbean to attain accreditation from the Commission on Accreditation Chronic addiction treatment begins with residential care to of Rehabilitation Facilities, (CARF International) solidifying its help lift the cloud of substances surrounding client for years. leadership position in the industry standards and excellence.

Crossroads Centre, Antigua, Willoughby Bay, P.O. Box 3592, St. John’s, Antigua, West Indies Direct: 1-268-562-0035 • Toll-free United Kingdom • 0-800-783-9631 • Toll-free United States / Canada: 1-888-452-0091 Fax: Nov 1-268-562-3278 OECSBusinessFocus / Jan | 86• Website: www.crossroadsantigua.org • Email: admit@crossroadsantigua.org

www.oecsbusinessfocus.com

ANGUILLA

Anguilla Gets New Police Chief Organised Workers’ and Labourers’ Union Officially Launched in Anguilla

R

Commissioner Paul Morrison taking oath

etired Chief Superintendent and Head of Operations for Surrey and Sussex Police in England, Mr. Paul Morrison was on Wednesday 7th October, 2015, sworn in as the 9th Commissioner of Police of the Royal Anguilla Police Force.

Mr. Morrison who served as a police officer in the UK for some 31+ years, recently retired and was appointed as COP of the RAPF in September following the resignation of Mrs. Amanda Stewart, by Her Excellency the Governor Ms. Christina Scott.

The brief Swearing-in Ceremony and administering of the Oath of Office was held at Government House and conducted

by Acting Governor, Mr. Stanley Reid.

“I am delighted to take up my new appointment,” said Mr. Morrison. “I am also very proud to wear the uniform of the RAPF. I am certainly looking forward to working with the officers, staff and all those associated with the delivery of policing for the Anguillan public.”

“I need to listen and build relationships – I have a very open mind but clear priorities for me are keeping the public safe, maintaining trust and confidence in the RAPF and working with others to achieve this.”

Mr. Morrison is on a three year contract with the RAPF. ¤

T

he Organised Workers and Labourers (OWL) Union held its official launching ceremony, on September 7th, at its headquarters in The Valley. Present at the ceremony were government officials: Labour Commissioner, Mrs Aunika Lake and Mrs. Evalie Bradley; members of the public and the executive members of the Union which included: Mr. Yusuf Abdul Ali, President; Ms Pamela Riley, Vice President; Beverly Richardson, Treasurer; Ameli Richardson, Assistant Treasurer; Jeannette Guzman, General Secretary and Tamiika Richards, Assistant secretary.

The main objectives of the Union are: •

• • • •

•

To establish an organisation that will represent all employees of Anguilla in collective bargaining with respect to salaries, wages, hours of work and other terms and conditions of employment.

To promote the moral, social and economic well-being of all the members.

To protect and uphold the individual and collective rights of all the members.

To foster harmonious and progressive labour-management relations.

To strive for the adoption of legislation, policies and other measures that will promote the economic, social and general well-being of all the members, in particular, and the working class in general.

To promote the education and awareness of all the members in regard to their rights and obligations as union members and as employees,

•

the present relations system, the existing collective bargaining agreements (CBA) and all other matters that directly or indirectly affect them.

To ensure that Anguilla has a fair livable wage.”

Ms. Pam Webster Speaking during the ceremony, Leader of the Opposition, Ms. Pam Webster, commented: “We, as Anguillians, need to unite to be able through the union to show the dignity of human work; and to demonstrate that we respect and honour their contributions.”

Visiting President of the Bahamas Hotel Catering and Allied Workers Union, Ms Nicole Martin, spoke during the ceremony on the paradigm shift in organising our community. She stated: “If you are going to change anything, it first starts with a thought, and if we have in our minds that Anguilla can be a better place – and if all of the stakeholders do their part, tripartism is extremely important because it represents all the pillars of an economy, the government, the employer and the workers.”

Other speakers at the ceremony were retired justice, Mr. Don Mitchell, and Mr. Kennedy Hodge.

Ms. Nicole Martin Union President, Mr. Yusuf Ali, concluded the ceremony. He urged Anguillians to “put aside any animosities, ideologies and focus on one main ideology that we must come together as one people, as unity makes us strong.” ¤ OECSBusinessFocus Nov / Jan

|

87

ANTIGUA

Govt of China Commits to Donate Funds to Expand Five Islands School

Antigua-Barbuda Continues to Forge Closer Ties With Other Nations

T

P

Government has announced plans to establish the University of Antigua & Barbuda-College of the University of the West Indies, in Five Islands, amidst outcry from members of the public and the country’s main opposition United Progressive Party (UPP).

Browne also used the opportunity to introduce the candidacy of Ambassador Sir Ronald Sanders to the post of secretary general of the Commonwealth. Sanders’ candidacy was well received by the respective delegations.

The Education Minister said the University of the West Indies (UWI) has already amended official documents which “authorises an external institution to issue university degrees.”

“With that, the university will approve our professors. When they approve our professors, whether they have master’s degree or they have terminal degrees, once they approve our professors then we will be able to offer university degrees,” the minister said in a recent interview.

The heads of delegations of Seychelles, Mauritius and Tuvalu commended Browne on his position regarding the recent European Union tax haven black list. The countries pledged support for each other on this matter and made a commitment to work together going forward.

he Government of the People’s Republic of China has committed an additional sum to the further development of the proposed University Campus at Five Islands. Education Minister Michael Browne said the Chinese have agreed, in principle, to allocate $56 million to the project.

“We have already begun preliminary discussions; we have submitted a proposal which has been accepted in principle. So now it is just to transition to the phase where we start doing the plans,” Browne said.

Browne said the Antigua & Barbuda School of Nursing, The Teacher Training Department and other departments at the Antigua State College (ASC), which will be relocated to Five Island, will make up the core of the campus. Upgrades will also be done to the ASC compound to establish another campus there.

“Then you will have the Antigua & Barbuda International Institute of Technology (ABIIT) and the Antigua & Barbuda Hospitality Training School, so that will be another campus.

When you think about the university, it is not just in one place, you are talking about schools that are linked together by a chain of communication, that is the direction that we are heading into,” the minister said.

The minister was careful not to give any timeline for the completion of the project, despite queries from this newspaper.

Government has faced a barrage of criticism since it announced the decision last year, to repurpose the compound at Five Islands from a secondary school to a university campus.

Many have voiced their disappointment, saying the move was a backward step as the establishment of a secondary school on that side of the island was to address the problem of overcrowding in schools. And, more importantly, a plan was already developed for Antigua & Barbuda to establish its own full-fledged university. ¤ OECSBusinessFocus Nov / Jan

|

88

rime minister of Antigua and Barbuda Gaston Browne continues to foster closer relations with international leaders and countries as his government works towards tackling issues that affect Antigua and Barbuda and other developing nations.

During a recent visit to the Horn of Africa, Browne met with leaders and foreign representatives of Mauritius, Seychelles, Swaziland, Cameroon and Tuvalu and pushed for fostering closer relations given similarities being either small states, developing countries or interaction within the Commonwealth.

The delegation of Seychelles inquired of the possibility of sending a team from its ministry of finance to observe and learn from Antigua and Barbuda about the online gaming industry.

During his stay in Africa, Browne also held bilateral discussions with the head of delegation of Mexico and the prime minister of Sweden.

Browne met with the Mexican deputy finance minister, Fernando Aportela regarding current bilateral cooperation in particular Mexico’s assistance to Antigua and Barbuda’s housing programme.

Browne and Prime Minister Stefan Löfven of Sweden also had fruitful discussions on cooperation and mutual interest. Löfven was particularly concerned with the EU’s blacklisting of Antigua and Barbuda and made a commitment to look deeper into the matter. Both prime ministers explored developmental assistance for Antigua and Barbuda. One area identified was assessing the drought situation and how Sweden can assist in this most urgent matter.

The country’s leader also had numerous interviews with local television in Addis Ababa, UNTV and South South News. He was singled out for his numerous strong statements on international financial reform and his commitment to addressing issues affecting small island developing states. ¤

www.oecsbusinessfocus.com

Antigua-Barbuda Ambassador Presents Credentials to

President Obama

A

ntigua and Barbuda’s ambassador to the United States, Sir Ronald Sanders, presented his credentials to President Barack Obama at the White House on Sep 17th, 2015.

Speaking with the President in the Oval Office, Sanders remarked that “Antigua and Barbuda has demonstrated its friendship to the people and Government of the United States by hosting for decades, within its soil, facilities that the United States regarded as vital to the safety and security of its people”.

He added, “Like the United States, Antigua and Barbuda is committed to economic improvement and economic rights, particularly within the framework of international treaties and compacts. My government will work with your government to ensure that obligations under such treaties and agreements are satisfied and that the integrity of international institutions are maintained for the good of all nations.”

In response, Obama observed that “Antigua and Barbuda and the United States share a long history of friendship” and that the twin-island nation “is a vital partner in the Caribbean”.

He said that he looked forward to working with Sanders “to advance our common agenda” and “in deepening further the strong and abiding friendship” of the two countries.

On a personal note, Sanders expressed his great admiration for Obama’s accomplishments as President and for the hope that he has given to people worldwide. ¤ OECSBusinessFocus Nov / Jan

|

89

BRITISH VIRGIN ISLANDS

VG Attracting High-end Projects, Head of CIBC Notes

Albert Snoei and Premier Orlando Smith

BVI Looking Forward to Enter Larger Ship Market

A

nother international company has established physical presence at Road Town in the British Virgin Islands (BVI), and the territory’s Shipping Registry has announced an upgrade to Category 1 — meaning it can now register any class of vessel or freighter.

The announcement was made at a press briefing hosted by Premier Dr. D Orlando Smith, who also presented international company Svitzer Americas Limited with its certification to operate using the BVI Flag.

The company, which is recognized as one of the largest global towing and salvage firms, is a subsidiary of Maersk.

Its representative Albert Snoei, after accepting the certification, disclosed an intention to have at least 20 vessels registered in the BVI by next year. He further stated that, one of the reasons the firm has opted to have a presence there is the BVI’s already world-recognised Shipping Registry, which now has been upgraded to Category One. “I am fairly confident that this is the start of a very good and long relationship,” added Snoei. “This is special for us; something we have been looking forward to for quite a while (2002).”

He further told journalists that the industry is a very conservative one globally, and Svitzer Americas Limited would not have its vessels registered in the BVI if the territory had not demonstrated and surpassed internationally accepted standards.

Responding to the company’s move to operate locally, Premier Smith remarked,

OECSBusinessFocus Nov / Jan

|

90

“We believe the decision of Svitzer Americas to open a management office in the territory, and to register their vessels under the British Virgin Islands flag is clear evidence that the government of the Virgin Islands is moving in the right direction in the ship registration industry.”

Larger Ship Market While noting that the BVI already has registered more than 3,700 marine vessels, Premier Smith underscored the importance of the Shipping Registry being upgraded to Category 1.

“This is a historic occasion as the government of the Virgin Islands, through the Virgin Islands Shipping Registry as its key maritime administration arm, continues to move forward with purposeful resolve to make this area of our economy stronger and more vibrant,” he told the media.

The premier further stated that, while the Shipping Registry has 3,750 vessels in its register consisting mainly of yachts and tugs, the upgrade to a Category One register will see the territory being in a position to enter the larger ship market.

“In our continued efforts to be responsive to our clientele particularly in the European market, this year my government opened a London office of the Virgin Islands Shipping Registry, and placed a Business Development Manager to market the registry, respond to clients in the UK and EU sector, as well as attend to their survey, certification and registration needs,” added Premier Smith. ¤

(Left-Right) Works minister Mark Vanterpool, country manager for CIBC FirstCaribbean Malcolm Whetnall, and CEO of CIBC FirstCaribbean Rik Parkhill, during a courtesy call on the Premier and Minister of Finance Dr D Orlando Smith

T

he calibre of development said to be taking place on Virgin Gorda in the British Virgin Islands has created a favourable impression on banker Rik Parkhill, who noted that the island is attracting high-end development projects that increase growth potential for other businesses such as CIBC FirstCaribbean International Bank.

Parkhill, who is chief executive officer at the said bank, made the observation during a recent tour of a number of projects on Virgin Gorda, where the bank also operates. “It’s reassuring to see that the area is attracting investment, and notably that most of it is on highend development projects with growth potential for the development of support services from CIBC FirstCaribbean as well as other businesses in the community,” said Parkhill. “I am impressed with the number of quality projects that have just been completed and which are being undertaken in Virgin Gorda.”

CIBC FirstCaribbean International, in a media release, did not specify the ‘recently completed’ projects that it said Parkhill toured on Virgin Gorda. It however stated that the tour included visits to properties in North Sound as well as on the east coast of the island.

Parkhill, who was in the territory from August 12 to 14, rounded off his visit with a courtesy call on Premier Dr. D Orlando Smith, in the company of Mark Vanterpool who is the Minister of Communication and Works. The banker also spent time with staff at the CIBC FirstCaribbean branches in Tortola and Virgin Gorda. ¤ www.oecsbusinessfocus.com

To date for the year, the territory has welcomed 231,671 overnight visitors, representing an increase of 1.92 percent, while the number of cruise visitors increased by 3.79 percent, with a total of 276,559 passengers, an increase from 266,463 during the same period in 2014. Furthermore, the number of day-trippers to the BVI increased by 6.22 percent over the same period, totaling 5,176 visitors.

Midyear Tourism Figures Signal Positive Industry Growth for BVI

T

he British Virgin Islands has seen an increase in the number of visitors to the territory this year, with initial tourism figures up by three percent over last year, signaling positive growth in the industry.

Data from the government’s Central Statistics Office (CSO) revealed a growth of 2.96 percent in arrivals to the territory from January to June over the same period last year. In addition, the overall year to date arrivals for the period January to June shows over 14,000 more persons having visited the BVI, with figures recorded at 513,406 visitors as compared to 498,641 during the same period in 2014.

Premier and minister for tourism, Dr. Orlando Smith, is very pleased with the growth that the industry has shown so far this year and stated, “It demonstrates that our efforts in globally promoting travel to the British Virgin Islands have been fruitful.

We continue to work towards improving our marketing strategies and are always looking for creative ways to attract our target audience to the territory.”

Smith noted that the government’s focused and strategic efforts in the further development of the tourism sector continue to be a strong contributor to the economy.

He reiterated that a stable and strong economy ultimately means increased employment and investment opportunities for the people of the British Virgin Islands.

Meanwhile, director of the BVI Tourist Board, Sharon Flax Mars, attributed the growth to a number of initiatives, including the augmented efforts to promote local events to drive travel to the destination, increased efforts in developing a closer relationship with the trade, stronger consumer driven programmes, and the launch of the new advertising campaign which is receiving positive feedback and ranking very high in advertising ratings in key travel publications. ¤

OECSBusinessFocus Nov / Jan

|

91

GRENADA

Grenada and China Pressing Ahead With Air Services Agreement

G

Grenada Prime Minister Dr Keith Mitchell (L) with Chinese Premier Li Keqiang

renada and China are pressing ahead with plans to formalize an air services agreement.

Prime Minister Dr Keith Mitchell made the announcement following his return from China, saying tourism were items high on the agenda during his trip.

Grenada is set to become the second country in the region after The Bahamas to conclude such an agreement with Beijing.

Mitchell said with Chinese investor Charles Liu’s multi-million dollar tourism project in Mt Hartman, an air services agreement with China would be a fillip for the local economy.

“We proceeded to do so, so we are going to be the second country in the Caribbean that has signed on officially to air service agreement with the major project being planned by the Chinese investor Charles Liu in Mt Hartman area, which is almost a billion dollar investment,” Mitchell said.

“If we can be able to have an air service agreement to get some form of transport from China to the Caribbean and to Grenada specifically, it can have enormous impact on the economy of our country,” he noted.

China is planning to initiate a regular flight to Cuba by way of Montreal, Canada, by Oct 2015.

The Grenadian leader said his government plans to work with Cuba in order to benefit from a Chinese flight in the region.

“That sort of reinforces the idea that we had that the opening up of Cuba to tourism may not necessarily, as some people might have thought, affect us negatively. It might in fact enhance our tourism product, because the attraction to Cuba will also be attraction to the Caribbean region as a whole,” Mitchell said.

OECS Chairman Wants Regional Governments to Make Structural Changes to Receive Foreign Aid

T

he Organisation of Eastern Caribbean States (OECS) chairman and Grenada’s Prime Minister Dr. Keith Mitchell says Caribbean governments need to make structural and behavioural changes to their operations if they want to continue receiving assistance from friendly countries.

He was speaking on the margins of an International Monetary Fund (IMF) high level regional meeting in St. Kitts. It was attended by IMF officials, Central Bank governors from across the region, and ministers of finance.

“Look some of the embassies that we have abroad, (we are like) like little mini states, not sharing diplomatic relations together as small states, and wanting people to give you aid while you are spending in those areas. It does not make sense,” Mitchell told journalists.

“We have to understand that people would not give us help if we continue this way. Britain has one embassy in Barbados for the entire Eastern Caribbean and they have billions of pounds but each of us, little mini states, has an embassy in the most costly place in the world. So that’s the sort of thing I am talking about.”

Mitchell met with a high level delegation in China led by the country’s Premier Li Keqiang.

Mitchell pointed to the importance of the citizenship by investment programme as an innovative way for the country to help itself. He says the programme in Grenada is now an improved one and lessons have been learnt.

Discussion covered a range of others issues including Beijing’s desire to speed-up on infrastructural projects on the island such as the housing projects and completion of the football and athletics stadium. ¤

“You have to look at all sorts of innovative ways to raise resources to meet the challenges that you face and the citizenship programme also is an area,” the prime minister said. ¤

OECSBusinessFocus Nov / Jan

|

92

www.oecsbusinessfocus.com

IMF Conducts Third Review of Grenada’s Home Grown Programme The Washington-based International Monetary Fund (IMF) is reporting a growth of 3.1% for the Grenadian economy for the first half of 2015 under the so-called home grown Structural Adjustment Programme (SAP) introduced by the Keith Mitchell-led New National Party (NNP) administration.

T

he growth was announced, following a visit to the island, by a delegation from Washington to conduct the Third review of the programme for the period January to June. The delegation, together with Ministry of Finance officials, held a joint press conference at the Ministry of Finance conference room to provide information on the findings.

According to head of the IMF delegation, Nicole Laframboise, Grenada is making solid progress in implementing the programme aimed at restoring fiscal sustainability and “laying the ground work for sustained stronger growth.”

Laframboise said the quantitative performance criteria in June were met but with the exception of the flow on social standing. This, she said is “an indicative target and that was due to technical problems related to information systems and other technical issues for the Flagship Social Assistance programme … we understand that this has been resolved and those are expected to resume shortly,” she told reporters.

“We found that real GDP expanded strongly in 2014 by over 5% at market

IMF conducts third review of Grenada’s Home Grown Programme prices and driven in particular by a short rebound in Agriculture output and also strong demands for tourism service. For similar reasons we project growth of 3.1% in 2015 compared to 1.7% projections which we had six months ago so there is a significantly stronger outlook,” she said.

According to the senior IMF official, Grenada’s fiscal performance is looking very strong as the Fund is seeing very positive results.

She said: “…With the government on track this year to deliver the first primary surplus in over a decade and as you recall primary surplus is the budget balance excluding interest payments…

“Tax revenues have recovered to precrisis level and expenditures are being kept under control. The government has continued to pay its budget expenditure and is expected to clear them in full by the end of the year as agreed under the programme.

The female IMF official noted that the NNP administration has been able to push through substantive legislative reforms in Parliament in 2014 and 2015. Laframboise believes that these are designed, among other things, to strengthen the fiscal policy framework, tax incentive regime and the taxation regime and public finance management.

“These reforms, particularly the fiscal responsibility legislation, has built a solid institutional foundation for fiscal prudence and discipline that would help

secure and maintain a sustainable physical position over many years to come,” she said.

In spite of the positive reviews, the IMF continues to express concerns with the island’s high unemployment especially among the youth and the fact that credit growth is still contracting.

She said the Fund, together with the government, have agreed that the reform efforts in the next phase of the programme should focus on measures to boost employment and foster broadbased growth that will raise the real incomes of all segments of society but, in particular, the middle and low income earners.

“In this respect during our review, we made progress toward agreement on the structural reforms measures directed at improving the supply response of the economy including strengthening incentives for employment creation”, she remarked.

“The government is also following through on its strategy to reform the state-owned enterprises and this should, in time, boost the quality and efficiency of the delivery of public goods and services and help with the overall growth average,” she said.

The Mitchell government was forced to enter into the programme after it defaulted on debt payments to a group of international creditors shortly after taking office in February 2013. ¤ OECSBusinessFocus Nov / Jan

| | 93 93

MARTINIQUE

Norwegian Launching Flights From New York to Martinique, Guadeloupe

I

n a significant boost to the French Caribbean, Norwegian announced that it would be launching flights to Martinique and Guadeloupe. The major launch includes flights from Boston, Baltimore/Washington and New York to both French departments. The seasonal service will launch Dec. 3, 2015.

It will include three flights per week between John F Kennedy International Airport and Guadeloupe’s Pointe-a-Pitre International Airport on Mondays, Wednesdays and Fridays, along with three flights between JFK and Martinique’s Aime Cesaire International Airport on Tuesdays, Thursdays and Saturdays.

“We launched our first long-haul flights to the US two years ago and the response from American travellers has been fantastic,” said Norwegian CEO Bjørn Kjos. “It’s great to see that our low fares, friendly service and new, more environmentally friendly aircraft are appreciated. It is therefore a pleasure to be able to launch new, exotic routes between the US mainland and the Caribbean islands Guadeloupe and Martinique.”

The Baltimore/Washington flights to Martinique will operate on Mondays and Fridays, while Boston flights will launch Wednesdays and Saturdays. The new flights are the first direct flights from New York to the French Caribbean in decades. “We will continue to expand in the US, by launching new routes and establishing more US bases,” Kjos said. Martinique received a major lift earlier this summer with the launch of four weekly American Airlines flights between Miami and the French island.

OECSBusinessFocus Nov / Jan

|

94

“The critical importance of the Northeastern US market to tourism development in the Caribbean is well-known in our industry,” said Muriel Wiltord, Director Americas of the Martinique Promotion Bureau. “In recent years, we’ve invested steadily in the market, progressively expanding demand for leisure travel to the French West Indies, while also leveraging key aviation industry events like Routes Americas to attract the interest of airline partners. These new flights from Norwegian represent a significant step forward in our overall US development strategy, building upon our success in reestablishing nonstop flights from the US via Miami in 2013 and the tremendous growth we’ve seen in the cruise sector since 2010.”

In a statement, Chairman of the Guadeloupe Islands Tourist Board Hilaire Brudey said the additional airlift was “historic for our destination.”

“It rewards an efficient global development strategy implemented in the US market since the opening of our NY office in late 2012,” Brudey said. “The continued growth of American visitors to the Guadeloupe Islands is key to the diversification of our visitorship. As our number one US in-bound area, the accessibility from the East Coast has been a cornerstone of our US strategy; therefore, this partnership with Norwegian, the world’s fastest growing airline, is an excellent opportunity for more East Coasters to finally tick the Guadeloupe Islands off their bucket list.” ¤

www.oecsbusinessfocus.com

MONTSERRAT

CDB Paves the Way for Better Access to Basic Services in Montserrat

F

or many years, the residents of Barzey’s Village in Montserrat had just a small gravel road connecting them to schools, public transportation and jobs.

Soil erosion and heavy rainfall made road conditions worse. As a result, residents didn’t have regular garbage pickups and, when there was an emergency, it was hard for health and fire services to get into their neighbourhood.

Barzey’s Village received a new safe, highquality, all-weather road, built through support from the Basic Needs Trust Fund (BNTF) seventh Programme and the Government of Montserrat, which was handed over during an official ceremony on August 25th. Ministers of government, including Premier Donaldson Romeo, BNTF representatives and residents of Barzey’s Village attended the handover event.

“Improving roads is one way to link communities to better economic opportunities and social services. An investment in the Barzey’s Community Road Rehabilitation helps pave the way for the advancement of the residents who live there,” said Darran Newman, BNTF Portfolio Manager, Caribbean Development Bank (CDB).

The sub-project has improved 833 meters of roads, which are also now wider and thicker, and feature a proper drainage system to help the community better withstand the impact of heavy rainfall.

CDB contributed a grant of US$320,000 to the total sub-project cost of US$337,000.

The government of Montserrat supported the initiative with a contribution of US$17,000.

Community groups identified the road rehabilitation sub-project and the intervention was supported by the Ministry of Communication, Works and Labour. The Barzey’s Community Road Rehabilitation is funded under the seventh BNTF programme cycle for which the overall grant amount for Montserrat is US$1.758 million.

Barzey’s Village in St. John’s parish is located in the Centre East District of Montserrat. In 2011, the community recorded a poverty rate of 32 percent and an unemployment rate of 8 percent, just below the national average of 9 percent, according to the government of Montserrat / CDB Report of Montserrat Survey of Living Conditions (July 2011).

The Barzey’s Community Road Rehabilitation sub-project aligns with the government of Montserrat’s Sustainable Development Plan 20082020, which states as one of its economic management goals, creating “an environment that fosters prudent economic management, sustained growth, a diversified economy and the generation of employment opportunities.”

BNTF funding is provided to support interventions in ten participating countries with financing mainly from the Special Development Fund (Unified) of CDB and counterpart financing from participating governments. ¤

New Online Portal Provides Access to Legal Services and Information in the Anglophone Caribbean

A

new website aimed at changing the way the lawyers and the general public access legal information and services has been launched in the Caribbean.

Westindianlawyers.com is an online portal servicing 18 jurisdictions in the Englishspeaking Caribbean.

Users will now have easier access to critical legal documents such as wills, leases and contracts, while lawyers and other legal professionals can obtain from judgments, legal news, legislation and notices.

Westindianlawyers.com is one of the new legal initiatives to be launched by Montserrat-based West Indian Lawyers LLC. Director of communications Beresford Mack said the site toffers greater access to the public and lawyers to get vital legal products and services right in the palm of their hands.

“Given the explosion of information that’s available worldwide today, we are happy to facilitate access to legal information.

This is also in keeping with our tagline and famous maxim ‘ignorance of the law is no excuse!’” he said.

Mack explained that, over the next 12 months, several other services and products will be added to westindianlawyers.com.

“Phases two will include a special database of law firms, lawyers and their areas of expertise, which will enable citizens and residents in the 18 countries to easily find legal professionals to deal with their issue,” he noted. ¤ OECSBusinessFocus Nov / Jan

|

95

ST KITTS - NEVIS

IMF Applauds St. Kitts & Nevis for its Positive Economic Performance

T

he International Monetary Fund (IMF) says it welcomes the strong economic performance of St. Kitts and Nevis since the twin island Federation completed a three-year Stand-By Arrangement in 2014. “Although the outlook remains favourable, it is vulnerable to a possible reduction of the large inflows of recent years under the Citizenship-By-Investment (CBI) Programme,” the IMf said, noting that it is urging the authorities to continue their “prudent policies and structural reforms to safeguard fiscal and debt sustainability and deliver broad-based growth”.

“CBI budgetary revenues surpassed their 2013 performance, reaching 14 per cent of GDP. The overall fiscal surplus in 2014 was 9.5 per cent, compared to 12 per cent in 2013, primarily on account of substantial decline in SIDF support to the budget.

“Debt has declined faster than planned, reflecting higher GDP growth and advance debt repayments, to reach 79 per cent of GDP at end-2014 compared to 100.8 per cent at end-2013.”

The Washington-based financial institution said that continued rapid inflows under the CBI have led to a surge in construction activity, and supported a large increase in government and Sugar Industry Diversification Fund (SIDF) investments and spending, including on the People Employment Programme (PEP).

It said that these factors, together with the ongoing recovery in tourist arrivals fueled rapid gross domestic product (GDP) growth of about six per cent in 2013 and 2014.

It said that the imposition of visa requirements by Canada, combined with new competition on the CBI front, from neighbouring countries and globally, raising uncertainty regarding future CBI inflows.

“The banking system has remained stable, notwithstanding the restructuring of government debt held by the banks. However, the growth of private sector credit, while turning positive, has remained very weak, despite the high bank liquidity.”

The IMF said inflation has remained very low, at 0.6 per cent at end-2014, reflecting weak international commodity prices.

“The current account deficit remained at about 7.5 per cent of GDP, below historical levels, on the back of high CBI budgetary inflows, while external reserves remain high at about nine months of imports.”

The Washington-based institution said that the fiscal balance has remained high and that tax revenues grew more rapidly than GDP, offsetting higher expenditures, including the 13 month wage bonus and reforms to the CBI programme.

OECSBusinessFocus Nov / Jan

|

96

The IMF said that the near-term outlook remains strong, but there are risks on the horizon.

“Further, while the high fiscal surplus allows the government to accommodate the expected decline in tax revenues from the substantial widening in VAT and custom exemptions granted in December 2014 and April 2015, these measures may undermine fiscal and debt sustainability over the medium term.

“Without corrective measures, the new exemptions could lead to a reversal of the downward trajectory of the debt-to-GDP ratio, particularly in case of a natural disaster or an exogenous shock.

Finally, a substantial part of the rapid reduction in the debt-toGDP ratio is the result of the debt-land swap. A reversal of this operation would erode much of the gains in debt sustainability and increase fiscal spending on debt service,” the IMF said.

It noted that over the medium term, growth is expected to converge to the regional average of about 2.5 per cent, consistent with the staff’s cautious assumptions regarding CBI inflows, as large CBI construction projects reach completion, and tourism resumes as the main driver of growth. ¤

www.oecsbusinessfocus.com

St Kitts-Nevis Signs US Foreign Account Tax Compliance Act Agreement

T

he Government of St. Kitts and Nevis signed the agreement with the Government of the United States to implement the US Foreign Account Tax Compliance Act (FATCA) on Sep 1st 2015.

Enacted by the US Congress in 2010, FATCA targets noncompliance by US taxpayers using foreign accounts. FATCA requires foreign financial institutions to report to the Internal Revenue Service information about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest.

This kind of information exchange is a top priority for the United States as access to information from international financial institutions is critically important to the full and fair enforcement of US laws.

US ambassador to Barbados, the Eastern Caribbean, and the Organisation of Eastern Caribbean States (OECS), Larry Palmer, commented, “Every year, tax evasion deprives governments of all sizes of much-needed resources to fund public services and investments. The United States welcomes St. Kitts and Nevis’ commitment to enhancing global financial transparency by improving international tax compliance. Today’s signing marks a significant development in our nations’ collaborative efforts to combat offshore tax evasion – an objective that mutually benefits our two countries. FATCA is yet one more example of the deep and substantial ways in which the economies of St. Kitts and Nevis and the United States are linked.” ¤

OECSBusinessFocus Nov / Jan

|

97

ST KITTS - NEVIS

St Kitts-Nevis Joins Forces with Guadeloupe Company for Geothermal Development

T

he government of St. Kitts-Nevis and Teranov, an engineering and services company based in Guadeloupe, will join forces to establish a publicprivate partnership, with the ultimate goal of generating electricity by means of a geothermal power plant.

A memorandum of understanding, committing the two parties and governing the terms of this collaboration, has now been signed. This announcement was made during the seminar “Geothermal: Wealth and energy autonomy of the Caribbean – Producing our energy differently,” co-hosted by the Guadeloupe Regional Council and ADEME (the French environment and energy management agency).

This project is a direct result of the energy policy defined by the Government of St. Kitts and Nevis and the green growth objectives promoted by the Caribbean Community (CARICOM) at the regional level. The endeavour will help to develop renewable energy, to decrease dependency on fossil fuels and greenhouse gas emissions within the region.

Teranov, a Guadeloupe based engineering company, which specialises in geothermal and project development, will analyse the geothermal resource in St. Kitts using the methodology currently implemented within the GEOTREF consortium. The latter, led by Teranov, includes nine internationally renowned French laboratories (CNRS, ENS Mines de Paris, UAG, etc.) and three private companies, and is sponsored by a French funding programme called “Investments for the Future.”

OECSBusinessFocus Nov / Jan

|

98

GEOTREF uses characterisation and modeling tools coming from the oil and gas upstream sector to geothermal explorations. The objective is to achieve a better reservoir management and to lower geological risk.

“This public-private partnership will provide a great opportunity to develop the geothermal resources in St. Kitts and Nevis.

Electricity production from local and renewable resources is critical to the economic and sustainable development of St. Kitts and Nevis,” explained Ian Liburd, Minister of Public Infrastructure, Posts, Urban Development and Transport within the government of St. Kitts and Nevis.

“Geothermal energy represents an essential resource for the Caribbean islands: it takes into account its environmental and social potential and constraints. To achieve this, we can rely on the French expertise and regional presence. To date, Guadeloupe remains the only Caribbean island that has a geothermal plant in operation: it is an asset that should be put forward,” said Jacques Chouraki, President of the Teranov company.

The agreement signed between the parties provides for the creation of a joint company, ultimately in charge of the resource exploration and utilisation, as well as a roadmap with defined objectives. First phase of the project, which begins October 1, 2015, will focus on geological, geochemical and geophysical surface exploration, and aims at characterising commercially viable geothermal resource. ¤

www.oecsbusinessfocus.com

SAINT LUCIA

PM Kenny Anthony Reflects: St. Lucia Economy on the Way to Recovery

S economy.

aint Lucia’s Prime Minister and Minister for Finance, Economic Affairs, Planning and Social Security, Dr Kenny Anthony, has said that the island’s economy is on the rebound. At a recent press conference, Anthony reported on the current state of the Saint Lucian

“I am pleased to report that Saint Lucia’s economy is on the way to recovery after three consecutive years of contraction,” he said.

“You may recall that in the past three years the rate of negative growth had decelerated steadily. Preliminary data for the period January to June 2015 suggest increases in output for most sectors of the economy, led principally by the tourism industry.”

St. Lucia and IFC Work Together to Support Effective Tax Incentives

I

FC, a member of the World Bank Group (WBG), and the Government of St. Lucia kicked off the second of three workshops designed to help government officials measure the costs and benefits of tax incentives and leverage these incentives to promote productive new investments in the Caribbean. The workshops are supported by the Department of Foreign Affairs, Trade and Development of Canada (DFATD) and Switzerland’s State Secretariat for Economic Affairs (SECO).

Tax incentives have been a key feature of investment promotion strategies for most countries in the Organisation of Eastern Caribbean States (OECS). However, there is little evidence to suggest that these incentives correlate with investment flows. While the region offers some of the most generous incentives packages, there has not been a corresponding increase in investment. The workshops help key technical personnel in the OECS identify best practices in tax incentive policy and administration and offer a framework for analysing the effectiveness of investment incentives in their countries, according to IFC.

He attributes the rebound in Saint Lucia’s economy to the recovery of the economies of other more developed countries – countries that Saint Lucia’s own economy is inextricably linked to, as they represent the main source markets for tourist arrivals.

“During the first half of 2015, total stay-over arrivals increased by 5.3 percent to 185,424 representing a record level of arrivals over the last five years for the first six months of the year,” Anthony continued. “This performance was mainly attributed to a 12.3 percent growth in arrivals from the United States, our largest source market and highest spending market per person. The performance of the United States market was largely influenced by a steady improvement in the US economy supported by additional airlifts in the latter part of 2014.”

The Prime Minister also cited as contributors a turnaround in the construction industry as well as increased production in the manufacturing sector. ¤

“Finding the right balance between tax incentives that attract investors and the need for collecting revenues is essential,” said Dr. Sebastian James, Senior Economist at the World Bank.

“This can be achieved by having an evidence based approach to tax incentives which helps countries understand the impact of tax incentives and their role in attracting foreign investors. The goal is to provide governments with all the information they need to develop effective tax regimes that support their local economies.”

Dr. Reginald Darius, St. Lucia’s Permanent Secretary in the Ministry of Finance, noted that the country is keenly interested in measuring the fiscal costs and socio-economic benefits of tax incentives to ensure the competitiveness and sustainability of its incentives regime. The workshop will focus on developing detailed country-specific models to analyse tax expenditures. It will provide OECS participants with training on how to calculate fuel tax, exempted goods, as well as how to calculate tax expenditures on income tax.

A previous workshop held in March of this year provided participants with simple models for tax expenditure reporting and helped them use national statistics to calculate tax expenditure for VAT, customs duties and exemptions, and corporate income taxes. ¤ OECSBusinessFocus Nov / Jan

|

99

SAINT LUCIA

CARCIP Provides Grant for Local E-entrepreneur

FLOW and TEPA Support Local Businesses

F

low and the Trade Export Promotion Agency (TEPA) are partnering for the hosting of a major business expo aimed at promoting greater business development in St. Lucia.

The event, dubbed the ‘Mini Services and Business Expo’ was held at the National Cultural Centre on Friday, September 25.

The event was hosted by the Ministry of Commerce, Business Development, Investment and Consumer Affairs as part of its planned activities for Business Month. The theme of it is ‘Economic Growth through Business Support.’ It is especially geared towards women and the youth.

The symposium will bring together representatives of small, medium and micro enterprises and aspiring business owners to link them up with a variety of support services and agencies. They will also benefit from a series of presentations delivered by a panel of business experts, investors and financiers. Flow will be providing the organisers with free highspeed broadband service to facilitate easy communication and to allow the participants to enjoy an engaging and interactive session.

OECSBusinessFocus Nov / Jan

|

100

Flow is strongly committed to supporting local business, including small, medium and micro enterprises. As a result, the company had no hesitation in sponsoring the Mini Services and Business Expo.

Over the years, Flow has been focusing on increasing the affordability and versatility of its broadband packages and other service offerings to make them accessible to businesses of all sizes. This allows them to enjoy the benefits of world-class technologies and solutions to promote and grow their business.

Flow St. Lucia Sales, Marketing & Communications Manager, Shermalyn Sidonie-John said, “We are proud to be partnering with TEPA for this excellent initiative. This is a great opportunity for SMEs who have special needs. The majority of people are employed in our local private sector work in small, medium and micro businesses scattered all over St. Lucia, many of them in rural communities.

A lot of them are women, including single mothers, and increasingly more youths are trying to create employment for themselves. We appreciate the vital role such individuals play in furthering economic growth and prosperity, and so we are delighted to offer our support to the Mini Services and Business Expo.” ¤

T

he Caribbean Communications Infrastructure Programme (CARCIP) is continuing to provide opportunities for young ICT entrepreneurs and small and medium sized ICT businesses to develop and expand their horizons.

On September 24, 2015, eMagine Solutions Incorporated, a web design and development company, was handed a server (hardware) which was procured under the CARCIP Business Incubator Grant. The server will be used for the purpose of developing an Enterprise Solution.

The company had already benefited from consultancy services through CARCIP, to develop a software platform, which would allow them to provide business solutions to small medium enterprises like themselves. CARCIP’s assistance to “eMagine Solutions Incorporated comes at a total cost of EC$80,000.00 The CARCIP Business Incubator Grant provides financial assistance for the purpose of enhancing operations of ICT or ICT- enabled businesses. Through this grant facility companies are expected to innovate business processes with the aim of improving productivity and efficiency in their daily operations. In the coming months, CARCIP will be lending assistance to at least twenty other businesses. ¤ www.oecsbusinessfocus.com

ST VINCENT & THE GRENADINES

Prime Minister Ralph Gonsalves

SVG Owes $155 Million Under PetroCaribe

S

t. Vincent and the Grenadines owes EC$ 155.23 million under PetroCaribe, Venezuela’s oil initiative that allows countries to buy oil and keep part of the payment as a multi-decade loan.

“The amount owed is 155.23 million dollars. I repeat again, this talk of almost a billion dollars is just simply, absolutely rubbish,” Prime Minister Ralph Gonsalves said.

“Under PetroCaribe, we only get the fuel for the power stations.

When the prices were higher two years ago, we imported about 70 million dollars worth. Now the prices are somewhat moderated, is 55 million,” said Gonsalves, who is also Minister of Finance.

The Bank of Nova Scotia in Canada has said in a report that SVG’s debt under PetroCaribe is almost EC$1 billion.

Gonsalves said that while SVG owes Venezuela EC$155.23 million under PetroCaribe, his government has actually lent out EC$146.6 million of that sum “because of the other we have donation; we have some donations.”

“We have disbursements, like the Lowmans Bay housing, operating and administrative expenses and cash resources in the bank is almost five million dollars in the bank balances,” Gonsalves said.

Barbados Prime Minister Freundel Stuart (R) and his St Vincent counterpart Ralph Gonsalves exchange documents following the signing ceremony. (A. Miller/BGIS)

St Vincent-Barbados Sign Fishing Agreement

B

arbados and St. Vincent and the Grenadines have signed a treaty establishing a maritime boundary between the two countries.

Barbados Prime Minister Freundel Stuart and Prime Minister of St. Vincent and the Grenadines, Ralph Gonsalves, affixed their signatures to the treaty in Bridgetown.

Stuart noted that their signatures on the document, which established a maritime boundary based on equidistance between the two countries, and which is the first of its kind between Barbados and a member country of the Organisation of the Eastern Caribbean States (OECS), marked “a truly historic moment.”

“The definition of the extent of a state’s jurisdiction over its land and maritime space is not a small matter. In fact, the ability of a state to exercise this jurisdiction unimpeded is one of the very defining characteristics of sovereignty.

To agree with one’s neighbours exactly where their jurisdiction begins and yours ends is thus a matter of the highest import to the proper conduct of the business of the state,” he stated.

The PM also praised Barbados’ ambassador to the Caribbean Community (CARICOM), Robert “Bobby” Morris, who led the Barbados team in the negotiations, as well as the Commonwealth Secretariat, which provided technical advice.

The St. Vincent and the Grenadines PM agreed that the treaty was a testament to the excellent relationship between the two countries. “It speaks to the excellent relations between our people. We are the closest neighbour to Barbados and we have never had any fight over where the boundaries are. Barbadian fishermen would come into our exclusive economic zone, some would even come into the territorial sea and Vincentian fishermen would have done the same thing,” he stressed.

Barbados will also have an opportunity to exploit the living and non-living resources in its national waters.

OECSBusinessFocus Nov / Jan

|

101

events 2015 Child Rights Symposium for Parliamentarians 10-11 November 2015, St. Kitts and Nevis Parliamentarians serving as well as those shadowing the child protection sector and particularly juvenile justice will gather in Basseterre, St. Kitts and Nevis, from Tuesday 10th November to Wednesday 11th, 2015, for a discourse that is aimed at discussing how as chief policymakers, advances to improve the administration of juvenile justice can be accelerated in children’s best interests.

Caribbean Association of Banks Inc. – 42nd Annual General Meeting and Conference 11-14 November, 2015 – Marriott Hotel, St. Kitts The three-day conference, which attracts over two hundred and fifty delegates each year from around the world, will be held at the Marriott Hotel. The conference will explore the theme “The Financial Services Industry – at Crossroads: Where to From Here?”. The Caribbean Association of Banks Inc. annual conference is the premier event for networking with financial services professionals from throughout the Caribbean and further afield.

For more information visit: http://cabconference.com/

The Caribbean Hotel Investment Conference & Operations Summit (CHICOS), 2015 12-13 November, 2015, Ritz-Carlton Hotel, San Juan, Puerto Rico The Caribbean Hotel Investment Conference & Operations Summit (CHICOS) is the region’s must attend hospitality and tourism investment conference. CHICOS is organized by HVS and co-hosted by a partnership with the Caribbean Hotel and Tourism Association (CHTA) and the Caribbean Tourism Organization (CTO). The event provides attendees with the opportunity to significantly expand their network while learning the most important trends that can impact their investment decisions.

The Caribbean Hotel Investment Conference & Operations Summit has proven itself as the premier hospitality conference in the region. In its 5th year, this event brings together more than 300 regional and international investors and operators as well as the region’s leading decision makers.

For further info: http://chicos.hvsconferences.com/

Caribbean Week in Canada 2015 15-19 November, 2015, Toronto, Canada The region’s tourism development agency has announced an expanded programme for Caribbean Week Canada and for the first time ever the Caribbean Tourism Organization (CTO), its member countries and partners will take the Caribbean message to travel agents in new markets in Ontario by visiting Burlington and London. Also of interest this year is an industry luncheon where attendees will network with industry executives. Principal Research Associate of the Conference Board of Canada Jennifer Hendry will speak at this event on trends in the industry, with particular reference to the Caribbean.

For further info: http://www.onecaribbean.org/expanded-programme-for-caribbean-week-canada-in-november/

OECS Joint Presence at the Boot Düsseldorf Boat Show January 23rd - 31st, 2016 The Organisation of Eastern Caribbean States (OECS) will be participating as a collective at the Boot Düsseldorf Boat Show which will run from January 23 - 31, 2016. The Düsseldorf International Boat Show, commonly known as Boot Düsseldorf is highly regarded as one of the world’s premier Boat Shows and dubbed: “the world’s biggest boat and water sports trade fair”. With some 1,700 exhibitors from over 50 countries, this professional trade fair is considered a benchmark for the international boat and water sports industry, showcasing state of the art developments in the yachting sector. This nine day event that is scheduled to take place from January 23 - 21, 2016, in the Duesseldorf Exhibition Centre in Messe Düsseldorf, Germany; and will run from 10:00 a.m. to 6:00 p.m. daily.

OECSBusinessFocus Nov / Jan

|

102

www.oecsbusinessfocus.com

MAJOR MOVES Judith Ephraim joined the Sustainable Energy Unit at the OECS Commission in July 2015.

Prior to that she served as the Chief Energy, Science and Technology Officer of the Ministry of Sustainable Development, Energy, Science and Technology in Saint Lucia. Over the past 14 years, Ms Ephraim has worked on a number of portfolios in the Government of Saint Lucia including, Sustainable Energy, Science and Technology, Climate Change and Hazard/ Disaster mitigation.

Ms Ephraim holds a BSc (Hons) in Environmental Geoscience from the University of Bristol UK, and a MSc in Resources Engineering from the University of Karlsruhe (now Karlsruhe Institute of Technology) in Germany. ¤

Ms. Danine K Jones is the new Clerk to the OECS Assembly effective July 2015. The OECS Assembly is one of the organs of the OECS. In her new role she is required to assist the Speaker and Deputy Speaker of the Assembly in relation to the functioning of the Assembly. She is also expected to provide legal support to the OECS Commission.

Prior to taking up her new role, Ms. Jones worked with SLASPA as the Legal Officer/Corporate Secretary where she had responsibility for the management of SLASPA’s Legal Affairs and also served as the organization’s Corporate Secretary. During that time, Ms. Jones has had numerous accomplishments including: Preparation and Approval of Standing Orders for the Port Police and the introduction of a contract database

system to assist with more efficient management of the many contracts at SLASPA. Ms. Jones also worked as Parliamentary Counsel 1 at Attorney General’s Chambers, St. Vincent and the Grenadines. During that time she also represented the Attorney General on the Tobago Cays Board and served as the Corporate Secretary National Properties Ltd in St. Vincent and Grenadines. She also drafted numerous acts, amendments, regulations and bills including: The Milton Cato Memorial Hospital (Substitution of Title) Act 2002; St. Vincent and the Grenadines Small Business Bill 2005 and The Freedom of Information Regulations 2006 to name a few. In 2006, she left her beloved St. Vincent and the Grenadines to take up a position in St. Lucia as the Legal Officer with the Eastern Caribbean Telecommunications Authority (ECTEL).

Ms. Jones is a member of the St. Vincent and the Grenadines Bar and the St. Lucia Bar. She holds a Bachelor of Law (Hons) from the University of the West Indies and is a graduate of the Hugh Wooding Law School where she graduated on the Dean’s Honour Roll. She has also received specialist training in the Law in areas such as In-House Counsel training in London, Procurement Training, Maritime Training, Mediation and ADR. She is currently pursuing an LL.M degree and is completing a Post-Graduate Diploma in Legislative Drafting. ¤

Ramon Peachey comes to the OECS as a CARICOM national and with a strong communications for development (C4D) background with tertiary qualifications in Economics, Agribusiness and Professional Communication.

Ramon was more recently responsible for leading the communications program for one of Australia’s largest governance capacity building programs in the Pacific.

In this role he was also responsible for developing a prime time Q&A television series there. The series provided the live studio audience, comprised of everyday citizens, a national platform to pose questions to key decision makers, observers and experts from across Government, The Private Sector and Civil society on the development opportunities and challenges facing the region to ultimately help drive a better standard of living through increased accountability. The Pacific shares a number of similarities with the Caribbean in terms of the development challenges it faces and the series examined such diverse areas as youth entrepreneurship, tourism potential, education, law and order, agriculture, private - public sector partnerships, fisheries, housing affordability, churches and their role in development, the arts sector and gender equality and social inclusion as but some examples.

As a televised dialogue for development supplemented by short regional documentaries capturing regional voices, it importantly raised awareness on a number of initiatives while providing a national voice for marginalized groups to contribute to the national political discourse to help shape local, regional and national policy related to service delivery and to ensure better inclusive development.

Ramon was also involved in leading the development of the largest Government Department website in Papua New Guinea helping disseminate Government information in a more user friendly and accessible fashion as part of Australia’s foreign assistance package to the nation. He is interested in the use of innovation and new technologies to empower people, provide better data for decision making and give a ‘voice to the voiceless’ and sees potential for emerging technologies and innovation to further drive the development of the Caribbean region. ¤

OECSBusinessFocus Nov / Jan

|

103

MAJOR MOVES

LIAT, The Caribbean Airline, announced the appointment of Captain Arthur Senhouse as Director Flight Operations (DFO) effective September 01, 2015, with responsibility for all aspects of the airline’s flight operations.

Prior to taking up his current role, Captain Senhouse was the Chief Pilot – a position he took up in February 2014. He was responsible for the pilots and line operations.

Captain Senhouse joined LIAT in April 1987. Since then he has held a number of senior positions within the company including Training Captain on the Twin Otter aircraft. He also served as Chairman of the Leeward Islands Airline Pilots Association (LIALPA).

Speaking on his appointment, the new DFO said: “I am humbled by being chosen to head one of the most complex departments within the airline industry. I have joined the management team of LIAT when the airline is at the crossroads of completing its fleet renewal programme and totally reinventing itself into a Caribbean entity we can be proud of. I’d like to thank LIALPA, which I led in 2012, for providing exposure and training consistent with our line of work.

I will work tirelessly to ensure that LIAT continues long after I’m gone so that, just as I dreamt to fly a LIAT aircraft; other Caribbean boys and girls may live that dream.”

On Thursday, September 17, Cuban diplomat José Ramón Cabañas presented his credentials to the President of the United States, Barack Obama, to officially become the first Ambassador Extraordinary and Plenipotentiary of the island to Washington in over half a century.

OECSBusinessFocus Nov / Jan

|

104

Regarding the Cuban diplomatic mission’s short term plans, he explained that they will continue to spread the truth about the island, promote new relations and clarify all the remaining obstacles to normal relations between the two countries.

Cabañas, who graduated from the Raúl Roa García Higher Institute of International Relations (ISRI) in 1983, became head of the then Cuban Interests Section in the United States in late 2012. Following the announcements of December 17, 2014, he was one of the participants in the talks held in Havana and Washington for the reestablishment of diplomatic relations and the reopening of embassies. Since July 20, when the reestablishment of diplomatic ties came into effect, and through to his appointment, the diplomat served as interim Chargé d’affaires of the Cuban Embassy in Washington.

During his over 30-year career, Cabañas has served different roles in the North America section of the Cuban Foreign Ministry, as well as in other missions abroad. He was Ambassador to Austria, representative to the UN agencies in Vienna, head of the Department of Consular Affairs and Cuban Residents Abroad and served as Deputy Foreign Minister before his appointment in Washington.

Galina Sotirova has assumed duties as the new World Bank Country Manager for Jamaica from July 1st, 2015. In her new position, Sotirova will lead the World Bank’s day-to-day dialogue with the Jamaican government, key stakeholders and development partners, and foster a strong partnership

to help Jamaica achieve the goals of promoting sustainable and inclusive growth and reducing poverty.

A Bulgarian national, Sotirova joined the Bank in 1994 as a human development specialist and has held various positions in several regions of the Bank, her most recent assignments being country manager for Burkina Faso and country operations advisor for the Caribbean.

Sotirova holds graduate degrees in International Relations, Economics, and Public Policy from the University of Sofia, John’s Hopkins University SAIS, and the London School of Economics.

Colombian Alberto Moreno has been re-elected to another term as President of the Inter-American Development Bank (IDB).

Eight Caribbean Community (CARICOM) countries – Barbados, Bahamas, Belize, Guyana, Haiti, Jamaica, Suriname and Trinidad and Tobago – are members of the bank.

Moreno began his new term on October 1st that was founded in 1959 and is regarded as one of the leading sources of long-term financing for economic, social and institutional development in Latin America and the Caribbean.

The Board of Governors, which re-elected Moreno, comprises top policymaking body, comprises finance ministers, central bank presidents and other high-ranking officials from its 48 member countries.

Moreno is the fourth president in the IDB’s history. He was preceded by Felipe Herrera of Chile (1960–1971), Antonio Ortiz Mena of Mexico (1971–1988), and Enrique V. Iglesias of Uruguay (1988– 2005).

The IDB said that Moreno’s first two terms at the IDB were characterized by reforms to speed up its operations, boost its efficiency and better evaluate its development impact.

IDB also added, “Under his leadership, the IDB launched several initiatives in www.oecsbusinessfocus.com

MAJOR MOVES areas such as climate change, renewable energy, citizen security and access to digital technologies. He also built numerous strategic partnerships with public and private allies.”

New American Ambassador Arrives in Guyana Ambassador Perry Holloway arrived in Guyana in September after having been confirmed by the US Senate in August. He was sworn in as Ambassador to the Cooperative Republic of Guyana on September 18, 2015 and takes over from former Ambassador Brent Hardt.

Ambassador Holloway, a career member of the Senior Foreign Service, class of Minister-Counselor, most recently served as Political-Military Counselor at the U.S. Embassy in Kabul, Afghanistan (2013 – July 2014). Known as a talented leader, consensus builder and manager, with broad, high-level policy experience in Latin America and in managing the interagency process, Ambassador Holloway will bring essential skills to the task of furthering bilateral relations with the Government of Guyana, an important U.S. partner in Latin America and within the Organisation of American States.

Ambassador Holloway holds a B.A. in foreign languages from Wofford College in Spartanburg, South Carolina, an M.A. in International Business Sciences from the University of South Carolina, and an M.A. in National Resources Strategy from the Industrial College of the Armed Forces in Washington, D.C. He is the recipient of three Senior Foreign Service Performance Awards, eight Superior Honor Awards and two Meritorious Awards from the Department of State.

He speaks fluent Spanish. Ambassador Holloway, and his wife Rosaura, have two children.

Rodinald Soomer – the NEW CEO of CDF The Barbadosbased CARICOM Development Fund (CDF) has a new Chief Executive Officer (CEO), who will lead the organisation through its second funding cycle, 2015-2020.

He is Rodinald Soomer, an Economist, who was previously employed in the Division of Economic Affairs with the Organisation of Eastern Caribbean States (OECS) Commission, from May 2005 to August 2015, where he headed the Economic Development Policy Unit.

Soomer holds a Bachelors Degree in Economics from the University of the West Indies (UWI) and a Masters Degree in Economics from Britain’s York University with a specialization in Project Analysis, Finance and Investment.

With the CDF, Soomer’s key responsibility will be to provide direction and leadership to the CDF’s planning, strategy development and implementation processes. These include identifying funding sources, quantifying resource requirements, designing strategies to approach potential contributors and development partners, and administering appropriate policies for the sustainability of the Fund’s capital.

He will play the lead role in negotiations with regard to resource mobilization and in advocating the CDF’s vision and mission within the CARICOM region and the donor community.

New CARICOM Ambassador to St Lucia Hon. Robert Livingstone Morris Saint Lucia has welcomed a new CARICOM Ambassador to the island.

His Excellency, Hon. Robert Livingstone Morris, Non-Resident High Commissioner Designate of Barbados to Saint Lucia,

presented his Letters of Credence and Introduction to Hon. Dr. Kenny D. Anthony, Prime Minister, during an official visit on Thursday, September 10, 2015.

A former teacher and university lecturer, High Commissioner, Morris is also Barbados’ Ambassador to the Caribbean Community (CARICOM).

Barbados and Saint Lucia are both members of CARICOM, as well as the Community of Latin American and Caribbean States (CELAC). The two nations established diplomatic relations as of February 22, 1979, when Saint Lucia attained Independence.

St Kitts & Nevis Appoints Ambassador to CARICOM In a brief, yet very symbolical ceremony held at the Office of the Secretary General of CARICOM in Guyana on Tuesday 22nd September, St. Kitts and Nevis Ambassador to CARICOM, His Excellency (H.E.) Lionel Sydney Osborne presented his credentials to Ambassador Irwin La Rocque, signalling his official accreditation to the regional body.

In his remarks to the Secretary General, Ambassador Osborne highlighted that the commencement of his journey as an Ambassador to CARICOM, is indicative of a fresh start for the relations between St. Kitts and Nevis and the Caribbean Community. H.E. Osborne further assured the Secretary General, that the government and people of St. Kitts and Nevis were committed to the regional integration movement and fostering a new era of solidarity with member states.

“We subscribe to the idea that we all achieve more when we work together.

In St. Kitts and Nevis you will find a solid partner,” Ambassador Osborne noted.

OECSBusinessFocus Nov / Jan

|

105

ADVERTISER’S INDEX COMPANY

Page

COMPANY

Page

ADOMS

67

Global Bank of Commerce / SugaPay

47

AUA College of Medicine

65

Harpers Office Depot

89

Antigua & Barbuda Airport Authority

32

Henderson(2004) Ltd.

89

Antigua & Barbuda Tourism Authority

35

Home Services

01

APUA

67

Innotech Services Ltd.

63

Atwell Dalgliesh & Co

61

KAW Management Services

79

11

MAMPA

67

Axcel Finance Ltd Budget Marine

Cover

Medical Surgical Associates (Dr John)

41 91 73

Budget Marine

62

NCDS

Business Systems & Supplies

63

OBM International

Cable & Wireless (WI) Ltd.

05

Soufriere Estate

21

Caribbean Agro Industries

65

St Kitts Tourism Authority

19

Caribbean Governance Training Institute

13

St. Kitts Masonry Products

97

Cool Breeze Car Rental

61

The Cancer Center EC

52 17

Crossroads

Cover

Trade Export Promotion Agency

ECFH

Cover

UWI Cave Hill School Of Business

27

WI Oil Company

28

Geest Line

OECSBusinessFocus Nov / Jan

75

|

106

www.oecsbusinessfocus.com

TAILOR-MADE FINANCIAL SOLUTIONS

s #APITAL -ARKET 3ERVICES s -ERCHANT "ANKING 3ERVICES s #USTODY 3ERVICES s 2ESEARCH AND !DVISORY 3ERVICES

1st Floor, Willie Volney Drive, Massade, Gros Islet | P O Box 1862, Castries, Saint Lucia Telephone: 1 (758) 456 6826 Fax: 1 (758) 456 6740 Email: customerservice@ecfhglobalinvestments.com www.ecfhglobalinvestments.com