OECS BUSINESS FOCUS 5 by AMS St. Lucia

OECS

Issue No. 5

Jan/Mar 2017

One Community Growing Together

Special Feature

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An official publication of the OECS Commission

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O E C S

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CONTENTS FEATURE

31. GRENADA

32. Prime Minister’s Message 33. Grenada, Realising The Benefits Of A New Approach To Citizenship By Investment 34. Grenada Citizenship by Investment Programme 38. An Interview with Steve Horsford Executive Director Grenada Citizenship by Investment Programme 42. Government Presents EC$1.1 Billion Budget for 2017 43. CDB Approves USD10 mn Loan to Grenada To Build Growth and Resilience in the Grenadian Economy 44. Grenada’s Economic Prosperity: Moving Ahead And Lessons For The Wider OECS Economic Union 46. Opportunities For Agricultural Diversification In Grenada (Part 1) 48. Grenada Industrial Development Corporation Facilitating, Supporting and Strengthening Business Investment 50. PURE GRENADA: Peaceful, Unspoilt, Rejuvenating, Enchanting 54. Technical Assistance in Community- Based Tourism to St. Andrew’s Development Organisation, Grenada 56. Grenada Airports Authority Piloting Grenada’s Future In Aviation And Tourism 58. Maurice Bishop International Airport A Shining Star in the Future of Caribbean Aviation 60. GAA Eyes New Carriacou Airport For The Caribbean 61. Grenada Aviation Academy… For The Caribbean 62. Grenada Ports Authority Enhancing Port Development For Global Appeal 64. Grenada Development Bank Filling the Gaps of Economic Growth 66. T.A. Marryshow Community College 68. St. George’s University A Major Investor And Stakeholder In The Grenada Economy 70. Sandals Resorts Puts Grenada on the Map with Opening of new Luxury Sandals LaSource Grenada 72. NAGICARE – A Boost For Major Medical Care 73. NAGICO Insurances – Growing with Grenada 74 Legend Way International 76 Grenada A Leader in ‘Blue Economy’ OECSBusinessFocus Jan / Mar |

04. Editor’s Focus 06. Messages Let US Shape and Sharpen Business Together 07. Statement by the OECS Director General on the Passing of Sir K. Dwight Venner 07. TEPA And OECS Launch Specialty Caribbean Expo 2017 08. Business Briefs

OECS COMMISSION 10. Represented at COP 22 11. OECS Represented At The 12th ICAO Trip Symposium 12. OECS And Mexico Collaborate To Develop Sustainable Strategic Tourism Master Plans 13. Strengthening National Agriculture Health and Food Safety Councils 14. The OECS Founders TV Series: Sir Vaughan Lewis 16. OECS Businesses Exhibit in Cuba’s Largest Trade Fair FIHAV 2016 17. World Bank Mission Visits OECS To Advance Development Of The Blue Economy 18. FAO And OECS Host Workshop To Enhance Intra-Regional Agriculture Trade 19. Eastern Caribbean Central Bank And OECS Commission Strengthen Their Strategic Alliance 20. The Revised Treaty of Basseterre Establishing the Organisation of Eastern Caribbean States Economic Union Money Matters 24. Doing Good 26. Jamaica’s Proven Investments to Buy Bank of St Lucia International Ltd (BOSLIL) 27. BVI Announces New Financial Services Strategy 28. Improving the Digital Customer Experience 30. Caribbean Tourism Keeps Competitive Edge

82. 2016 CAB Conference Looks To The Future Of Banking 83. St. Maarten On The Move Offers Unique Opportunity 83. Bank Of Montreal Looks At Financial Side Of Guyana’s Oil & Gas Industry 84. ECTEL Moving Ahead With Net Neutrality Policy Tourism 85. The Eastern Caribbean Institute of Tourism: Developing the Yachting Sector 86. Intercontinental Hotels Group Committed To Caribbean Expansion 87. IDB Launches ‘Rise Up’ Climate Change Toolkit 88. New Flights To Make Anguilla More Accessible 89. Antigua and Barbuda Voted ‘Caribbean’s Most Romantic Destination’ 90. Five New Reasons To Visit Martinique 91. Martinique Sees Huge Jump In US, Canadian Visitors Youth In Focus 92. CXC Announces 2016 Regional Awards Jamaica and Guyana Students Top CAPE and CSEC 94. OECS Celebrates Completion of Inaugural Internship Programme 94. OECS 30 Under 30 Promotes Entrepreneurship Amongst Youth 95. Queens Young Leaders 2017 Announced 7 OECS National Included Enviromental Focus 96. UN Agencies, Regional Partners Convene On Sustainable Fisheries, Healthier Marine Environment 98. New Zealand Invests In Geothermal Energy Exploration In Dominica 99. Falklands, Montserrat Sign Marine Spatial Environment Partnership Accord 100. Events 101. Major Moves 104. Advertiser’s Index

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AMLFC Institute

OECSBusinessFocus Jan / Mar |

A New Year with New Opportunities! 2016 is now history. It is a time to reflect on the past and plan and define our strategies as we welcome a New Year in 2017 with renewed energy and a new sense of purpose. Despite the challenges of the respective markets in which we operate, we need to make the harsh decisions to consolidate and explore the new opportunities which may present themselves locally or across the region. We may operate in a specific domestic market which has served us well in the past, but we must also remember that we are now part of a wider economic space called the OECS Economic Union – a community of ten (10) islands with new opportunities for expansion and diversification to fuel our drive and search for growth and success.

Lokesh Singh

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 | Ramon Peachey Graphic Designer: Tannel George | Carlisle Searles Advertising Sales: Cennette Flavien - cennette@amsstlucia.com Cleopatra Jules - cleopatra@amsstlucia.com Joan Wells - joan@amsstlucia.com Evol De Souza - evol@regionalpub.com Ann-Maria Marshall - ann-maria@regionalpub.com Shari Dickenson - shari@regionalpub.com Cecil Baptist - winwardsupplies1@hotmail.com Webmaster: Advertising & Marketing Services

Editor / Managing Director

Many of our OECS economies are on a positive growth trajectory in the core areas of tourism, agriculture, manufacturing, construction and services. The time is now for us to venture out and explore these new opportunities being presented by the OECS Single Market and Economy to grow our small and medium sized enterprises across borders by expanding our footprint. There are many success stories of our business associates who have made the bold decision to expand across borders into other OECS Markets with outstanding results. In this Our 5th Issue of the OECS Business Focus Magazine, we are pleased to present a Special Feature on Grenada - another OECS Market which is showing positive economic growth with major opportunities for investment and development. The Government of Grenada has established the legal framework and related agencies to fast track and facilitate investment with real success. We urge you to explore the many exciting opportunities in this market. As a region whilst we celebrate the festive season and a New Year, we also mourn the loss of two outstanding sons of the region who have made yeoman contributions to country and community with the recent passing of Hon. Ronald Webster, former Premier of Anguilla and Father of the island Nation and the iconic Sir Dwight Venner, outstanding Economist and long standing former Governor of the East Caribbean Central Bank. Our sympathies to their families and the wider community.

May their legacies and contributions continue to inspire future generations and influence the continued positive development of the OECS region and the wider Caribbean to whom they gave so much.

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.

We trust that you will enjoy the content of Issue 5 of the OECS Business Focus Magazine and we look forward to your comments.

On The Cover:

Best wishes for your continued success with your efforts in 2017. Happy Reading. Lokesh Singh Managing Editor / Publisher OECSBusinessFocus Jan / Mar |

Images of Grenada “An Island Spiced with Opportunity”

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Antigua Grenada

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Let US Shape and Sharpen

Business Together Let US Shape and Sharpen Business Together

By: Dr. Didacus Jules, Director General, OECS

Dr. Didacus Jules, OECS Director General (Third from left), with OECS Heads of Government and Country Representatives

e are pleased and proud once again to present yet another issue of the OECS Business Focus. Every issue is an accomplishment since it takes a lot to make it happen. Our strategic partner AMS is always thinking ahead, planning the future issues and taking into account a wide range of considerations. From our end at the OECS Commission we are continually challenged to identify appropriate content to contribute since that material must be of real value to the business community and other readers. The private sector in the OECS must be commended also for buying in to this dream and through the advertising that they purchase, benefit from the exposure and support the production and delivery of the magazine. In many respects, each issue is a test of the value of the magazine since the business model on which it is predicated is that each issue must be self sustaining.

civil society that have the potential to boost our competitiveness.

This issue focuses on Grenada and provides insightful information and business intelligence on the performance of its economy and the remarkable achievements in recent times. Grenada has sharpened its brand and is succeeding in making that brand an all embracing representation of all that it has to offer whether it be in agriculture, tourism or financial services.

For us to achieve these things, we need your critical feedback, recommendations and ideas. We encourage readers to propose themes, submit articles on matters of importance to them and help us build audience for the magazine and website.

We strive in the country-focused issues to provide comprehensive insight into the performance of the economy of that Member State; highlight developments and opportunities that are trending; and showcase innovations in government, the private sector and OECSBusinessFocus Jan / Mar |

In every issue, the news that we present and the think pieces that we provide are all aimed at deepening our understanding of the issues in the context of the OECS Economic Union. In the OECS Business Focus, our job is to always contextualize business intelligence within the frame of reference of the Economic Union. Our objective is to encourage the private sector to always look beyond national boundaries and see the wider opportunities in the single economic space. Our aspiration is to facilitate the emergence of a spirit of entrepreneurship that is quick to grasp niche opportunities in the global marketplace and is ready to assume responsibility for changing the complexion of the OECS private sector from a distributive network to a productive engine of growth, foreign exchange earnings and high value employment.

We are thankful for our progress and achievements across the OECS to date and look forward to engaging the many constituents and stakeholders in furthering our development as One Community for the benefit of all citizens. Best wishes for a Happy, Healthy and Progressive 2017. www.oecsbusinessfocus.com

Statement by the OECS Director General on the Passing of Sir K. Dwight Venner Statement by the OECS Director General on the Passing of Sir K. Dwight Venner The Organisation of Eastern Caribbean States (OECS) mourns the passing of a great son of the Caribbean, Sir K. Dwight Venner. Sir Dwight was the longest serving Governor of the Eastern Caribbean Central Bank (ECCB) which, under his distinguished stewardship, was recognised as a world-class institution. OECS Director General, Dr. Didacus Jules, reflected on Sir Dwight’s dedicated service and invaluable contributions to the region. “His was one of the loudest and most articulate voices speaking out for regional integration; his passion for the region was an affirming flame that provided light even in the darkest moments.” “Even as we mourn his passing, we celebrate the narrative of his life and accomplishments,” Dr. Jules said. The Commission extends its deepest sympathy to his wife, Lady Lynda, and his entire family

The event marks the start of activities leading up to four days next year, March 9-12, 2017, when Saint Lucia will host business contingents from the OECS Member States for the Specialty Caribbean Expo 2017 at the Daren Sammy Cricket Ground in Gros TEPA AND OECS LAUNCH SPECIALTY CARIBBEAN EXPO 2017 Islet, Saint Lucia. The Specialty Caribbean Expo 2017 will feature over 100 OECS Exhibitors showcasing international standard, export-ready goods and services. This high profile exposition will be held under the theme “A Unique Buying Experience” as it targets International Buyers from United States, Canada, United Kingdom and Cuba. Buyers from the CARICOM and OECS are also expected to participate.

TEPA AND OECS LAUNCH SPECIALTY

CARIBBEAN EXPO 2017

he St. Lucia Trade Export Promotion Agency (TEPA) and the OECS Commission, along with strategic partners, launched “Specialty Caribbean Expo 2017”at the home venue for the event, the Daren Sammy Cricket Ground, under the auspices of The Minister for Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs.

Exporters from the OECS and Martinique will present and promote their products and services at this buyer-focused exhibition, facilitated by TEPA and the OECS Commission. Specialty Caribbean Expo 2017 will be the ultimate one-stop-shop, directly linking international buyers from worldwide corporations with Caribbean suppliers from a multitude of sectors. Exhibitor sectors will include agribusiness; apparel & footwear; chemicals & plastics; construction, architecture & engineering; cultural industries; educational services; fashion; music; financial services; food & beverage; furniture; handicraft, health & wellness; tourism; printing and packaging, and ICT & related services. TEPA and the OECS Commission are honoured to announce, Amerijet International Inc as the official Title Sponsor of Specialty Caribbean Expo 2017; and gratefully recognize sponsors Digicel, Saint Lucia Electricity Services Ltd (LUCELEC), Piton Beer and Virgin Atlantic. ¤ OECSBusinessFocus Jan / Mar |

BUSINESS BRIEFS CDB and New Zealand Affirm Partnership on Geothermal Energy

The government of New Zealand and the Caribbean Development Bank (CDB) have formally confirmed their ongoing partnership in support of geothermal energy development in the Eastern Caribbean. On December 12, 2016, New Zealand high commissioner, Jan Henderson, met with president of CDB, Dr William Warren Smith, to discuss progress on the implementation of the CDB GeoSMART Initiative, which has been receiving technical support from the government of New Zealand. The GeoSMART Initiative was developed by CDB to provide appropriate and responsive financing to hasten sustainable geothermal development in the Eastern Caribbean. By way of a letter of intent, New Zealand confirmed its support for the Initiative through the provision of specialist drilling, geoscience and engineering advisory services. “CDB welcomes the support and partnership of the government of New Zealand, as we work towards transforming the energy sector in the Caribbean. The CDB GeoSMART Initiative taps the significant potential of geothermal energy to substantially accelerate progress in the shift to affordable and clean energy throughout the Eastern Caribbean,” Smith added. Pictured - New Zealand High Commissioner, Jan Henderson (left) and President of CDB, Dr William Warren Smith (right) commemorate partnership

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EU to Boost CARIBBEAN Competitiveness by Strengthening Regional Partnerships

The INTERREG V Caribbean, a multimillion dollar EU-funded program to strengthen regional partnerships was officially launched in Saint Lucia recently. In addition to boosting the economic competitiveness of the region’s countries, the INTERREG V Caribbean program will also respond to environmental challenges and health issues, while promoting the joint cultural heritage of the region. The program focuses on priority areas such employment and innovation, natural hazards, the cultural environment, public health and renewable energy. It is also open to entrepreneurs, project developers and other parties who have an interest in the financing of regional business opportunities. The INTERREG V Caribbean program partners regional organizations, including the ACS, CARICOM, CARIFORUM and the OECS, with the Regional Councils of the French Overseas Departments of Guadeloupe, Martinique and French Guiana, and the French Overseas Collectivity of St Martin. The launch of the 2014-2020 program in Saint Lucia, was aimed to strengthen regional partnerships between the French Overseas Departments and the English-, Spanish- and Dutch-speaking Caribbean countries and territories of the region. Recognizing the growing importance of regional cooperation, the INTERREG Caribbean budget has been increased from €63 million (US$66.5 million) to €86 million (US$91 million), of which €64.2 million (US$68 million) is financed by the European Regional Development Fund (ERDF) to support the projects to be covered by the program through the French Overseas Departments and Territories.

Business Briefs BUSINESS BRIEFS government is proposing to expand the St. George’s Water Supply System and make improvements to the sewerage system. A feasibility study will be undertaken to inform how these improvements may best be facilitated. This study will update a sewerage project draft design report; prepare detailed designs for the upgrade of the Carenage/Lagoon Road Wastewater Collection System; examine the most feasible option for the expansion of the Southern St George’s Water Supply; and formulate designs for the recommended solution. In addition to the technical assistance grant provided by CDB, utilising resources allocated from UKCIF, Grenada’s National Water and Sewerage Authority will contribute to the project. The total estimated cost of the technical assistance is £834,300 (US$1.03 million) The study will examine critical areas of the water and sewerage network, and respond to the pressing need to improve efficiency, build climate resilience and reduce risks in Grenada’s water and waste water sector. Grenada’s water sector is highly vulnerable to the effect of climate change on the hydrological cycle and is ranked as the most vulnerable of the countries of the Organisation of Eastern Caribbean States.

LIAT Welcomes Its Tenth ATR Aircraft

CDB Approves US$1.04 Mn Grant for Study on Water and Sewerage Facilities in Grenada

Regional carrier LIAT recently welcomed its tenth ATR72 aircraft at the V.C. Bird International Airport in Antigua.

The Caribbean Development Bank (CDB) has approved a grant that will assist the government of Grenada in its efforts to improve the efficiency of the country’s water and sewerage network. The

The brand new 68-seater aircraft carrying the tail number V2-LIN, was piloted from Toulouse, France, by Captain Philemon Gunsam OF St www.oecsbusinessfocus.com

BUSINESS BRIEFS Vincent and First Officer Rawle Francis of Antigua. Accompanying the crew were Engineer Robert Collins and Quality Manager Conrad William Lewis. After the customary fly-by and water canon salute, the aircraft was greeted by LIAT’s line Minister in Antigua and Barbuda, Sir Robin Yearwood, and the management and staff of LIAT. Sir Robert Yearwood commented that he was pleased on the arrival of this new aircraft and urged all LIAT staff to continue working together to strengthen the airline’s essential service to the region. V2-LIN went into commercial service in mid-December and passengers were expected to experience a continued improvement in LIAT’s services

Vice chairman of the Caribbean ICT Collaboration Committee and CANTO Chairman, Julian Wilkins commended the CTU on the establishment of this initiative. He added that CANTO was delighted to be part of this historic event and he looks forward to collaborating and cooperating with ICT stakeholders.

Suriname Signs US$30 Mn Trade Finance Agreement with Islamic Bank

He concluded that this is a great opportunity to make progress on a number of key ICT issues affecting the Caribbean.

WIOC Delivers EC$5.5 Mn as First Dividend Payment to Government of Antigua

CTU Pioneers Formation of Caribbean ICT Collaboration Committee In a move to shape and align the strategic ICT agenda in the region, the Caribbean Telecommunications Union (CTU) recently brought several regional ICT stakeholders together in Trinidad including senior government officials, regulators, CANTO, Caricom, network The government has received its first operators and other ICT stakeholders. dividend payment following its acquisition Topics discussed included roaming of a 51 percent stake in West Indies Oil charges, Over the Top (OTT) providers, Company, WIOC.

net neutrality, number portability and incentivising broadband development in Prime Minister the Hon. Gaston Browne accepted a cheque for approximately the region. XCD$5.5M recently which will be paid One highlight of the meeting was the directly into the consolidated fund; it establishment of a new Caribbean ICT represents a share of the entity’s 2015 Collaboration Committee with a mandate profits. to make recommendations to Caribbean Governments on key ICT issues affecting Prime Minister Browne says this dividend payment underscores the efficacy of his the region. administration’s economic philosophy of Chairman of the newly formed committee, entrepreneurial socialism. He indicated Lucien Blackmoore, Permanent Secretary that he expects an even greater dividend in the Ministry of Information, Science payment for the 2016 financial year. and Technology, Dominica, gave his commitment to this collaborative approach (Pictured l - r Mr. Gregory Georges CEO and looked forward to working with all the WIOC; Prime Minister Gaston Browne; Mr. stakeholders to enable ICT development in Carlton Bramble - CFO - WIOC) the region.

Gillmore Hoefdraad, Minister of Finance of Suriname, recently visited Saudi Arabia and signed a US$30 million syndicated murabaha (non-interest-bearing) term sheet for supporting Suriname’s economic development through financing strategic imports according to the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group. The $30 million financing extended to Suriname is to support the agricultural, medical and industrial sectors. Supplies that will be purchased under this arrangement include basic goods, raw material for production of basic goods, inputs for the agriculture sector, in addition to medicine and medical supplies. Commenting on the signing, Eng. Hani Salem Sonbol, ITFC CEO, said, “This trade financing is at the heart of ITFC’s role in supporting the development of strategic commodities that underpin a nation’s economic welfare and thus provide sustainable livelihoods to a significant proportion of the population.” Hoefdraad commended the role of the IsDB Group in Suriname’s socio-economic development. He added that Suriname relies heavily on imports for consumption and this operation will benefit all economic sectors. The IsDB Group has provided financial assistance amounting to US$145 million for the health, education and transport sectors of Suriname Pictured - Eng. Hani Salem Sonbol (right), CEO, ITFC, and Gillmore Hoefdraad, Minister of Finance of Suriname shake hands after signing the agreement

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OECS

Represented at COP 22

he OECS Commission joins CARICOM at the 22nd session of the Conference of Parties (COP22) to the United Nations Framework Convention on Climate Change (UNFCCC) in Marrakech, Morocco. Countries continue their efforts to address climate change by calling for the implementation of the landmark Paris Agreement, enhancing ambition and the provision of support that will assist Small Island Developing States (SIDS) in their adaptation and resilience building efforts. The countries of the region call on developed country Parties to honour their pledges and provide the necessary finance to enable them to undertake much needed adaptation. A CARICOM Ministerial Briefing took place on Monday November 14, 2016 where the regional delegations deliberated on the overarching political developments and the general negotiation dynamics. While it was noted that work was moving slowly with the subsidiary bodies and working groups focusing on procedures, Member Countries made it clear that the work of the Paris Agreement should be advanced. According to Mr. Leon Charles of the Grenada delegation, the region’s expectations for COP22 are: • A focus on action on regional initiatives, with a focus on water and energy; • Participation in the ministerial dialogues on financial support and ambition in the pre-2020 period, to advocate for strong emissions reduction to be able to achieve the 1.5 degree target; • A smooth and positive start to the work under the Paris Agreement; and • The need for strong solidarity and support for the international climate change process. Six Heads of State from the Region (including Prime Ministers of Saint Lucia, St. Vincent and the Grenadines and Jamaica) are addressing the High-Level Segment between Tuesday 15 and Wednesday 16 November, 2016. As observed climate change impacts on our Member States worsen, Heads have called

OECSBusinessFocus Jan / Mar |

for urgent action in undertaking work to implement the Paris Agreement by reiterating the fact that SIDS are among the most vulnerable to the impacts of climate change due to geographic and economic challenges. Consequently, Heads have called for targeted adaptation finance and a balance between finance for mitigation and adaptation. Heads have made a further call for the adaptation fund to serve the Paris Agreement since it has been the most successful in providing funding to support vulnerable countries. Director General of the OECS, Dr. Didacus Jules said that OECS participation and support at COP22 is focused on representing Member States and the need for urgent action in implementing the Paris Agreement in which to realise enhanced support through finance for adaptation and mitigation in a balanced manner and capacity building aimed at building resilience and adapting to climate change. “In our region, as we have seen from the disasters which have hit several countries in recent times, this has deep implications for protecting lives and livelihoods and ensuring our survival as Small Island Developing States. “The Caribbean Heads are therefore continuing to demonstrate leadership at that international level in Marrakech, urging the developed countries to deal with greater urgency on their actions regarding climate change,” Dr. Jules said. Heads are reminding that after the momentum and successes realised at COP 21 in Paris, there should be no delay in moving forward with work and as a united global community in addressing climate change. The OECS Commission therefore continues its mandate in supporting the wider Region, representing and working on behalf of its Member States in line with Article 24 of the Revised Treaty of Basseterre and the St. Georges Declaration of Principles on Environmental Sustainability. ¤ www.oecsbusinessfocus.com

OECS Represented At The 12th ICAO Trip Symposium

Dr. Lorraine Nicholas

Tourism Specialist

Organisation of Eastern Caribbean States

OECS Represented At The 12th ICAO Trip Symposium

he OECS Commission has today concluded talks with several leading experts in the field of travel facilitation, after discussions held at the recently concluded International Civil Aviation’s (ICAO) Traveller Identification Programme (TRIP) Symposium.

for Migration, the World Bank, the Organisation of American States, the European Commission, the World Customs Organisation, the International Organisation for Standardisation, the International Air Transport Association and the International Criminal Police Organisation.

The Symposium was held from the 15 to 17 November 2016 at the (ICAO) Montréal Headquarters, where some 554 participants, representing 81 countries, 15 international organizations and industry partners assembled.

The diversity of perspectives shared and discussions held were particularly geared towards devising an optimal mix between facilitating ease of travel whilst ensuring border security is not compromised - making travel safer, more hassle free and enjoyable.

The OECS Commission’s Tourism Specialist, Dr. Lorraine Nicholas said it was rewarding to promote the work of the OECS to an international audience and to utilise the publicity afforded to leverage technical assistance to the region via collaboration with key agencies and partners. “Ultimately our efforts are directed at enhancing the competitiveness of the OECS Single Domestic Space aimed at driving better economic benefits for the region” said Dr. Nicholas. Besides the OECS Tourism Specialist, presenters at the Symposium included officials from the World Tourism Organisation, International Labour Organisation, the International Organisation

During the Symposium, the ICAO provided key updates on the TRIP strategy aimed at enhancing both travel facilitation and security through better traveller identification mechanisms and processes to read and verify travel documents. The ICAO plans to implement a Traveller Identification Programme in the Caribbean region. An industry exhibition complemented the Symposium with a broad range of products and services related to Machine Readable Travel Documents (MRTD), biometric identification, travel document security applications and border inspection systems. ¤ OECSBusinessFocus Jan / Mar |

OECS

OECS And Mexico

OECS Director General, His Excellency Dr. Didacus Jules said the OECS has enjoyed strong relations with Mexico across a number of functional areas of cooperation and the potential now existed to deepen that commitment through the elevation of SSTMP’s as a key driver of economic growth in the OECS.

OECS And Mexico Collaborate To Develop Sustainable Strategic Tourism Master Plans

Collaborate To Develop Sustainable Strategic Tourism Master Plans

“The potential exists for a deeper diversification of the OECS tourism product and the SSTMP’s will be imperative in creating a sustainable framework to identify and then capitalise on these unique opportunities” said Dr. Jules. Dr. Lorraine Nicholas said that Mexico’s tourism industry has performed remarkably well in the past few years with Mexico welcoming a record of number of 32 million tourists in 2015, an increase of ten percent over 2014 figures. “Revenue from the sector also grew by eight percent which accounted for surplus of seven billion dollars and the Ministry of Tourism in Mexico strongly attributes this impressive performance in the Tourism sector to effective planning” said Dr. Nicholas. “Tourism Master Plans were developed by tourism professionals in Mexico for each of the main tourist destinations (cities) in Mexico and the development of the sector has been guided by these plans. “The Government of Mexico is now keenly interested in replicating the concept of one of Mexico’s major tourism product “los Pueblos Mágicos” - Magical Towns in the OECS. “This programme was developed by the Ministry of Tourism to highlight the key tourism assets in select towns, particularly those towns that have preserved their cultural and historical resources” said Dr. Nicholas. As part of the Mexico/OECS cooperation agreement, the Mexican Government has agreed to provide technical support to the OECS Member States to develop their respective SSTMP. The Mexican delegation provided an overview of the concept and methodology to develop SSTMPs as a tool for a participatory planning, which is intended to improve the performance of the tourism sector. The Plan is intended establish the guidelines for collaboration and coordination between the different agencies and entities, among the different stakeholders in the private and social sectors. The methodology to develop the plan comprises the following activities:

Ambassador of Mexico to the OECS, His Excellency Luis M. Lopez Moreno, OECS Tourism Specialist Dr. Lorraine Nicholas and Third Secretary of the Embassy of Mexico Mr. Imanol Belausteguigoitia

he OECS Commission has met with representatives from the Government of Mexico to explore collaborating to develop Sustainable Strategic Tourism Master Plans (SSTMP) in OECS Member States.

The Ambassador of Mexico to the OECS His Excellency Luis M. Lopez Moreno, Third Secretary in charge of Cooperation of the Embassy of Mexico Mr. Imanol Belausteguigoitia, the OECS Tourism Specialist Dr. Lorraine Nicholas, OECS Tourism Permanent Secretaries and Directors of Tourism met virtually to gain insight from Mexican experts on the concept and methodology for developing SSTMPs in the OECS.

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1. Undertake secondary research involving the compilation of key documents that contain information that is relevant to the development of Tourism 2. Conduct field visits to undertake a Situational Diagnosis of the OECS tourism sector (through interviews with key stakeholders, administration of surveys and observations) 3. Analysis of Findings 4. Formulation of the SSTMPs for OECS territories 5. Elaboration of the SSTMPs for OECS territories 6. Develop a portfolio of viable projects to be considered for execution in the next few years 7. Workshop to present and validate the OECS Sustainable Strategic Master Plans.

This project is expected to commence in December 2016 and the SSTMPs are expected to be completed by July 2017. ¤ www.oecsbusinessfocus.com

Strengthening National Agriculture Health and Food Safety Councils

he OECS Commission is working with Member Countries to strengthen the recently endorsed National Agricultural Health and Food Safety Councils (NAHFSC) which will enhance their ability to implement Sanitary and Phytosanitary (SPS) measures to better safeguard citizens, animals and plants from diseases, pests, or contaminants across the OECS. The project funded by the European Union 10th EDF Economic Integration and Trade of the OECS Region Project, successfully developed the framework after a series of consultations with Member States geared toward improving the agriculture health and food safety of the region. Director General of the OECS, Dr. Didacus Jules said the the NAHFSC as a coordinating mechanism would improve the efficiency of agriculture health and food safety services at the national and regional levels for the direct benefit of every OECS citizen. “The advances made under the new NAHFSC framework address two strategic objectives of the OECS Commission and that is assuring the security and well-being of our citizens and driving key economic priorities by adhering to the SPS measures consistent with the World Trade agreement” said Dr. Jules. OECS Agriculture Programme Officer Mr. George Alcee said the new arrangement involved all tiers of Government and relevant institutions engaged in Agriculture Health and Food Safety (AHFS) Services working together to ensure stronger alliances. “We have worked to ensure there is strategic alignment and integration of Ministries and Agencies in the adoption of a systems approach to AHFS, which involves links with producers, the hospitality sector, agribusiness and the food industry”. “The Commission has held two tier training and sensitization

sessions in Saint Lucia from November 17 -18, 2016 to firstly sensitise policy makers of the relevant Ministries and Agencies comprising the Council and secondly to train technicians in a range of technical aspects relating to the NAHFS mechanism” said Mr. Alcee. “The senior policy forums focused on: • A whole-of-Government approach, which defines cross sectorial government agencies working together for a common goal; • One Health concept (recognizes that human health is connected to animal health and the environment. It aims at improving well-being through the prevention of risks and the mitigation of effects of crises that originate at the interface between humans, animals and their various environments); • Consumer safety; • Return on investment for health and safety expenditure; • Looped value chains, which denotes a minimum waste value chain, which utilizes all waste; • Development through Dialogue Groups ‘Dgroups’ online platform linkages between leading international development organisations committed to supporting development efforts through dialogue and the OECS Commission and the Caribbean Agriculture Health and Food Safety Agency (CAHFSA); • Effective communication of Agriculture Health and Food Safety (AHFS) issues; and • Approved NAHFS Framework/Model The technical training workshop addressed: • One Health Concept; • Local production and processing benefits; • Rapid Response Mechanisms; • Dgroups inclusion and operations; and • Health and Safety services interaction. ¤ OECSBusinessFocus Jan / Mar |

OECS

THE OECS FOUNDERS TV SERIES:

SIR VAUGHAN LEWIS

THE OECS FOUNDERS TV SERIES: SIR VAUGHAN LEWIS

Serving Our Members since 1989

A Special Production In Observance Of The 35th Anniversary Of The OECS CARILEC

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ir Vaughan Lewis, the first Director General of the Organisation of Eastern Caribbean States (OECS) is the featured personality in the fifth programme of the television documentary series, the OECS: The Founders which continues on Monday November 21st.

MAY 16 - 19, 2017

In the programme, Sir Vaughan recalls what led him to leave his Professorship at the University of the West Indies to take up the position of Director General of the OECS and reflects on his tenure and the major events which shaped the OECS during that period. Sir Vaughan served as Director General of the OECS from 1982 until he demitted office in 1996 to enter politics in St. Lucia and succeed Sir John Compton as Prime Minister of the country from 1996-1997.

Engineering

The OECS Founders series was commissioned in observance of the 35th anniversary of the OECS on 18th June this year and is produced and presented by Earl Stephen Huntley of the West Indies Media Corporation (WIMEDIA). The pilot series airs on NTN Saint Lucia at 9:00pm on Mondays with rebroadcasts on Tuesdays (9:00am and 3:00pm), Saturdays (8:00pm) and Sundays (12:00pm and 8:00pm). The programmes will be aired regionally through a variety of broadcast mediums. Persons are encouraged to check their local television station listings to tune in. The series can also be viewed on the OECS Website by clicking here: http://www.oecs.org/ index.php/homepage/history. ¤

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OECSBusinessFocus Jan / Mar |

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Lighting the Way KPMG

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Saint Lucia and Dominica Frank Myers +1 758 453 1471 fvmyers@kpmg.lc

Barbados Lisa Taylor +1 246 434 3915 lisataylor@kpmg.bb

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kpmg.com © 2016 KPMG, an Eastern Caribbean partnership and a member firm of the KPMG network of independent member firms affiliated with| KPMG OECSBusinessFocus Jan / Mar 15 International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. Printed in Saint Lucia.

OECS Businesses Exhibit in Cuba’s Largest Trade Fair FIHAV 2016 OECS

OECS Businesses Exhibit in Cuba’s Largest Trade Fair FIHAV 2016

usinesses from St. Vincent and the Grenadines, Antigua and Barbuda, Dominica, Saint Lucia, St. Kitts and Nevis and Grenada are participating in Cuba’s largest annual multisector trade fair, the 34th Havana International Trade Fair, FIHAV 2016, running from the 31st October to the 4th November. Director General of the OECS, His Excellency Dr. Didacus Jules said FIHAV was the principal venue in which OECS businesses could gain exposure to not only the growing domestic Cuban market but commercial linkages to more than seventy-five countries who were also participating in the global trade fair. “Through OECS Member State Ambassadors to Cuba working in collaboration with the Competitive Business and Trade Policy Unit of the OECS Commission and with support from the European Union, we have been able to facilitate the participation and promotion of OECS businesses to the world. “The OECS has historically enjoyed strong relations with Cuba across a number of functional areas of cooperation including health and education and now with the Cuban Government’s desire to diversify international economic relations, we are positioning to ensure OECS businesses are supported to successfully enter the Cuban market. “We recognise that the non-state sector in Cuba is growing, as evidenced for example by plans to add before 2016, 3000 new hotel rooms to the flourishing tourism sector and the establishment of the ambitious Mariel Special Development Zone (ZEDM) intended to attract foreign direct investment. “This growth will invariably drive increasing demand for products and services across a range of sectors including for example high end building products such as paint, blinds and awnings to manufactured food items for which the OECS is uniquely placed both competitively and geographically to service. “We are confident with the passage of time and with the appropriate levels of support, OECS businesses can also replicate the success of Baron Foods Ltd. who will not only export to Cuba but will also be manufacturing there too” said Dr. Jules. “Saint Lucia’s Ambassador to Cuba, His Excellency Ambassador Dr. Charles Isaac said Cuba in collaboration with OECS Heads of Mission had collaborated to facilitate the consolidation of the traditional relationship existent from one that has been traditionally based on political solidarity to the emergence of one based on trade. “In this regard we have had a Caribbean Business Forum organised by the Cuban Government in 2015 attended by a number of businesses entities within the region including the OECS. “Subsequent to this we had the participation of most of those entities in FIHAV 2015 and now 2016 supplemented by a continual dialogue and engagement between business entities of the OECS and their Cuban counterparts. OECSBusinessFocus Jan / Mar |

“Baron Foods as an example have just signed a contract for the first container shipment of condiments and sauces to Cuba. “We have continued to engage the process for other companies who are at various stages of market access negotiations and expect in the not too distant future, a number of other companies will have access to the Cuban market. “Cuban authorities have consistently emphasized their willingness to accommodate Caribbean business entities given the traditional good relations that have been maintained and supported over the years. “This is important as we are now provided a window of opportunity by the Cuban authorities to enter the Cuban market” said Ambassador Dr. Isaac. Participating OECS Firms at FIHAV 2016 St. Vincent and the Grenadines • East Caribbean Metal Industries Ltd. • East Caribbean Group of Companies • Kendra’s Aluminum Products • Antigua and Barbuda Henderson (2004) Ltd. • Commonwealth of Dominica Nature Island Paper Products Inc. • Saint Lucia Harris Paints (St. Lucia) Limited • Natmed Limited • Caribbean Awnings • Grenada Grenada Co-operative Nutmeg Association • St. Kitts and Nevis The Admirals (2008) • St. Kitts Bottling Co. Ltd. About FIHAV FIHAV is a well-established trade fair that has taken place annually since 1983. It is the most important general trade fair in Cuba and the Caribbean as well as one of the most representative from Latin America. All sectors of the Cuban economy take part in FIHAV, which succeeds in putting together the most complete national and international trade exhibition in a space that enables exhibitors and visitors to establish commercial contacts, business operations, exchange experiences and be updated in new technological developments. In its 34th issue FIHAV will have more than 20,000 m2 of net exhibition area and foreign exhibitors from over 75 countries. ¤ www.oecsbusinessfocus.com

World Bank Mission Visits OECS

To Advance Development Of The Blue Economy

The three day visit facilitated seamless collab“oration with many OECS Units directly connected

epresentatives of the World World responsible Bank Mission Visits Bank Mission for the Caribbean Regional Oceanscape Project (CROP) visited the Organisation of Eastern Caribbean States (OECS) from November 1-3, 2016 to advance project preparation in anticipation of approval early next year. The delegation comprised of Mr. Pawan G. Patil, World Bank Blue Economy Team Leader and Project Co-Team Leader; Ms. Sylvia Michele Diez, Environmental Specialist, Project Co-Team Leader; Mr. Shafick Hoossein, Safeguard Specialist; Ms. Ceren Ozer, Economist; and Mr. Jorge Barbosa, Consultant. The Mission was also joined by Dr. Julian Roberts, Interim

OECS To Advance Development Of The Blue Economy

to the CROP such as Oceans Governance and Fisheries, Environment, Legal, Education, Communications and Resource Mobilisation.

Director, Oceans and Natural Resources Division, Commonwealth Secretariat. During the discussions held at the OECS, Mr. Patil outlined the importance of the Caribbean region in leading the Blue Economy movement. The delegation leader pointed out that, although small, the region serves as an inspiration and the overall aim of the CROP initiative is to expand upon the work that has already begun. He noted that the CROP will provide support to implement the OECS Eastern Caribbean Regional Ocean Policy (ECROP) which was developed with support from the Commonwealth Secretariat and approved by the OECS Authority (Heads of Governments) in June 2013. Director General of the OECS, Dr. Didacus Jules, welcomed the team and assured the Organisation’s full support to ensure a more progressive, effective and sustainable framework for the utilization of the region’s marine resources. “The health of our marine environment is largely tied to the economies of OECS Member States whether that be for example, tourism or fisheries. “The sustainable management of our oceans in close collaboration with our partners is therefore critical to the on-going prosperity derived from the blue economy from which the OECS is heavily dependent,” Dr. Jules said. The three day visit facilitated seamless collaboration with many OECS Units directly connected to

”

the CROP such as Oceans Governance and Fisheries, Environment, Legal, Education, Communications and Resource Mobilisation. In their closing remarks, members of the World Bank Mission expressed satisfaction with the planning progress achieved during their short stay. The inaugural Caribbean Region Dialogue with the G20 Development Working Group (DWG), held in Washington DC on April 13, 2015, recommended inter alia the preparation of an in-depth analytic report, to define an overarching framework to better understand the economic potential of transitioning to a blue economy in the Caribbean region. The 2015 G20 DWG meeting also catalysed the World Bank (WB) to develop a Caribbean Regional Oceanscape NonLending Technical Assistance Programme (CROP) to support development of a blue economy in the region. Through the CROP, the WB intends to mobilize significant and diverse resources to a total of US$108.3 million ($6.3 million GEF; $102 million base cost co-financing) in collaboration with Caribbean nations and development partners to support ‘blue solutions’ for sustainable ocean-based economic growth and development across the region. The participating OECS Member States have entrusted the OECS Commission and the World Bank with implementation of the US$6.3M Global Environment Facility (GEF) grant. The attached report, prepared jointly by the World Bank, the Commonwealth Secretariat and the OECS was launched on Friday, 7 October 2016 at a World Bank Seminar and Panel Session titled “Toward a Blue Economy: A Promise for Sustainable Growth in the Caribbean.” ¤ OECSBusinessFocus Jan / Mar |

OECS

FAO And OECS Host Workshop To Enhance

Intra-Regional Agriculture Trade

FAO And OECS Host Workshop To Enhance Intra-Regional Agriculture Trade

proposed as the deadline for Member States to submit a list of commodities that they would, ideally, like to produce.

The workshop, organised by the Organisation of Eastern Caribbean States (OECS) with the support of the Food and Agriculture Organisation (FAO) of the United Nations, facilitated discussions on key themes such as the Free Circulation of Goods in the OECS, Exporter and Importer Shipping Concerns, Sanitary and Phytosanitary measures and other regulations that impact on trade.

Director General of the OECS, Dr. Didacus Jules, said that efforts have already begun to develop a sustainable relationship between farmers and hotels.

griculture leaders in the OECS convened for a two-day meeting in St. Lucia last week to discuss viable options towards enhancing intra-regional trade of agricultural commodities in the OECS.

Minister of Agriculture in St. Vincent and the Grenadines, Honourable Saboto Caesar, discussed the OECS Agriculture Shipping Initiative as a means to alleviate the over US$500 million dollar food import bill in the OECS. “Once there is a vessel available, it is going to be an engine for growth. Persons who previously did not consider shipping as an option would begin using this as a mode of trade,” Minister Caesar said. The Agriculture Minister also stressed the need to be creative in crop selection in an effort to delve into new markets. “We already have agriculture commodities moving in the region and we have found that traditional traders are not keen on trying new crops once they have found a niche that works. “This is why it is important that we bring new traders on board who are open to trying new crops and penetrating new markets,” Minister Caesar said. Honourable Caesar called on all Agriculture Ministers and senior officials present to take action and identify a “point person” in each of their Ministries to spearhead the initiative and create on-island working groups. The end of 2016 was OECSBusinessFocus Jan / Mar |

“We are aware that this not something that would happen overnight, but we have to keep our eyes on the ball,” Minister Caesar said.

“We ultimately want to see a reduction in the food import bill. It is therefore critical that we move toward self-sufficiency as far as we are able to at this point in time. “Adopting the latest and sustainable agriculture techniques is the key to longevity of this initiative. We will work with our partners to ensure that the necessary framework is established but essentially we would like this process to be driven by the market,” Dr. Jules said. The partnership of the Agriculture and Tourism sectors also highlighted opportunities in the emerging market of exotic flowers as an example of new areas for agricultural growth in Member States. The workshop integrated open discussions and focus group sessions to promote technical exchanges and allow participants to work together to come up with agriculture development programmes at the national and regional levels. Agriculture Minister Saboto Caesar will hold a Press Conference in St. Vincent and the Grenadines on Friday, November 18, 2016 at 11:30am to recap milestones achieved at the close of the workshop and discuss the availability of funding in Member States. ¤ www.oecsbusinessfocus.com

Eastern Caribbean Central Bank And OECS Commission Strengthen Their Strategic Alliance

Eastern Caribbean Central Bank And OECS

Commission Strengthen Their Strategic Alliance

he OECS Commission and Eastern Caribbean Central Bank (ECCB) have signed a Memorandum of Understanding (MOU) that strengthens their institutional arrangements for collaboration. The virtual ceremony between the two Institutions took place on Tuesday 22nd November at the OECS Commission and was attended by the Director General of the OECS, Dr. Didacus Jules and ECCB Governor Mr. Timothy Antoine. Dr. Jules said the signing of the MOU signified a new strategic positioning of the historic association between both Institutions to better collaborate on policy areas in the face of a number of regional opportunities and global development such as Brexit and the new incoming US Administration.

Dr. Didacus Jules

Director General of the oECS

“The work of both institutions across macroeconomic policy, financial sector development, consolidating the Economic Union to trade policy and private sector development, as some examples, necessitates closer alignment if we are to share knowledge and expertise to ultimately deliver better outcomes to the people of the OECS” said Dr. Jules. Governor Antoine hailed the MOU as a new era of cooperation for both Institutions. “Such cooperation is essential as we collectively strive to secure higher levels of growth, competitiveness and employment in the OECS. “We have an opportunity to deliver some real benefits for the people of the OECS and seize it we must” said Governor Antoine. ¤

TIMoTHY ANToINE ECCE Governor OECSBusinessFocus Jan / Mar |

OECS

The Revised Treaty of Basseterre Establishing the Organisation of Eastern Caribbean States Economic Union

Founding Leaders of the OECS

The Revised Treaty of Basseterre Establishing the Organisation of Eastern Caribbean States Economic Union

By: Dwight Lay General Counsel Office Of The General Counsel - OECS Commission

t is useful to mention the circumstances that existed when the countries of the Eastern Caribbean decided to formalise their attempts at integration of their economies. It will be recalled that the Federation of the West Indies came to an end in 1962 when both Jamaica and Trinidad and Tobago chose to become independent countries. The British Caribbean Union which comprised the remainder of the units of the Federation remained in effect until 1966 when Barbados decided to attain its independence from the United Kingdom. After Barbados gained independence, the UK government formed an association of the remaining islands which it called The West Indies Associated States. The islands comprising this association were Antigua and Barbuda, Dominica, Grenada, St Kitts-Nevis-Anguilla, Saint Vincent and the Grenadines, Montserrat and Saint Lucia. The headquarters of the Association was located in the Associated State of Saint Lucia (as it was the named), in 1967. In 1981 the Eastern Caribbean States decided to strengthen their cooperation in achieving their regional integration process by implementing the Treaty of Basseterre, which established the Organisation of Eastern Caribbean States (OECS). This initiative brought about inter alia the Agreement establishing the Eastern Caribbean Central Bank (1983), which upgraded what was essentially a currency authority into a fully-fledged central bank. The West Indies Associated States Supreme Court was renamed the Eastern Caribbean Supreme Court. In relation to Grenada, the Court is styled â&#x20AC;&#x153;the Supreme Court of Grenada and the West Indies Associated States.â&#x20AC;? Other developments include the joint procurement of pharmaceuticals, joint diplomatic representation in London, Ottawa, Brussels and Geneva, as well as coordinated and cooperative approaches to education, health, telecommunications, sports, agriculture, tourism, civil aviation, export development, the environment and maritime

OECSBusinessFocus Jan / Mar |

affairs. In 1989 an Export Development Unit of the OECS was established in Dominica, as part of a new initiative to decentralise the OECS. These various measures impacted positively on the lives of the citizens and became a catalyst for moving further forward together. However, what was lacking was the ability and willingness to implement, at the local level, the decisions which had been taken at the OECS regional level.

Mr. Dwight Lay has worked extensively as a Barrister and has functioned as a legal representative of the Government of Saint Lucia locally, regionally and internationally. He also has professional experience in both the theory and practice of regional and international trade and public administration. He is currently the General Counsel at the OECS Commission www.oecsbusinessfocus.com

In 2004 a Task Force was established under the chairmanship of Sir K. Dwight Venner. The report of that Task Force gave birth to The Revised Treaty of Basseterre establishing the Organisation of Eastern Caribbean States Economic Union. The Revised Treaty created the Organisation of Eastern Caribbean States Economic Union (OECS Economic Union). There are seven full members of the Union, namely – Antigua and Barbuda, the Commonwealth of Dominica, Grenada, St Kitts and Nevis, Saint Vincent and the Grenadines, Montserrat and Saint Lucia. Anguilla, Martinique and the British Virgin Islands are associate members. The coming into force of the Revised Treaty represents a significant historical moment in the subregion, because if member states are able to pursue their goals and intentions as contemplated by the Revised Treaty, there is no doubt that it will have a major impact on the lives of the people in the subregion. The Revised Treaty must be construed carefully together with the individual constitutions of the member states if one is to properly understand the new legal authority structures which it introduced in the OECS region. If we examine a provision like Article 12 of Protocol of Eastern Caribbean Economic Union to the Revised Treaty, we will note that it speaks to the issue of freedom of movement of persons, and it says, “Freedom of movement for citizens of Protocol Member States shall be secured within the Economic Union Area.” It goes on to say that “such freedom of movement shall entail the abolition of any discrimination based on nationality between citizens of the Protocol Member States as regards employment, remuneration and other conditions of work and employment”. Article 12 of the Protocol does not say that the freedom of movement for citizens may be secured or allowed. It says that freedom of movement for citizens shall be secured. In other words, what Article 12 of the Revised Treaty did was to bring about a fundamental change in the legal landscape of immigration throughout the Member States. In contradistinction to foreigners in general, nationals of Member States now have a right to enter the territory of other Member States and stay hassle free or without the imposition of impediments. The Revised Treaty also gives citizens of Member States rights of establishment and of the provision of services. Both of these rights presume of necessity the right of movement. It is clear, therefore, that nationals of a Member State who supply services must in principle have the right to freely enter any other Member State in order to ply their trade; but, logically following from this, nationals of a Member State desirous of receiving such services in another Member State must be allowed to enter the latter State in order to receive that service without being obstructed by unreasonable restrictions. Without doubt, the service sectors capable of triggering these rights include tourism and medical services as tourists and persons seeking medical care can reasonably be considered recipients of services. Another major impact of the Revised Treaty is the obligation it places on Member States to abolish, as between themselves, obstacles to the free movement of capital. There is no definition of ‘movement of capital’ in the Revised Treaty however it is generally accepted that capital movements include cross boarder investments in real estate on the territory of a Member State by non-residents. This is because the acquisition, use or disposal of immovable property on the territory of another Member State generates capital movements when exercised.

entirely consistent with those obligations and decisions. But in lieu of enacting new or amending old legislation this objective may in some cases also be accomplished administratively or even judicially in cases where the Constitution or the existing domestic legislation leaves room for so doing. In such cases domestic effect to the Member State’s treaty obligations can and, given the duties imposed on Member States by Article 5, must, if possible, be given by the executive or judicial branches of that State. Implementation of the idea and concept of unity and solidarity among the Member States in Article 4 of the Revised Treaty entails, as an exercise of sovereignty, the creation of a new legal order and certain self-imposed, albeit perhaps relatively modest, limits to particular areas of sovereignty of Member States. In this regard, the provisions of the Revised Treaty and the limits they impose on Member States is supposed to take precedence over national legislation, in any event at the Community level. It follows that where national law does not conform with the parameters laid down by the Revised Treaty, it will be the latter that ultimately is supposed to prevail. Another important aspect of the Revised Treaty relates to the provisions it introduced to overcome what seemed to be an inability and or unwillingness to implement at the local level, the decisions which were taken at the regional level, under the Treaty of Basseterre 1981. To resolve this challenge Article 14 of the Revised Treaty gives the OECS overriding legislative power in certain defined areas to pass laws for Member States, and when those laws are passed to give them direct effect in the individual Member States. This means that the legislation made by the OECS on such matters take precedence over local laws. This is essentially, the principle of direct effect akin to the process that currently exists in the European Union. This new arrangement is meant to facilitate the effective coordination of policies in important areas, and also the ability to implement them in a timely fashion. The Annex to the Treaty makes provision for the settlement of any disputes which may arise between Member States. If all eligible parties to the dispute agree, they may have recourse to the following methods: good offices, conciliation, arbitration and failing these, adjudication by the Court of Appeal of the Eastern Caribbean Supreme Court. However, even during the course of these methods of arriving at a settlement, consultations may take place between the parties with a view to resolving the issue which divides them. The Court may also give an Advisory Opinion to the OECS Authority or any Organ of the Organisation concerning the interpretation of the Treaty, but that Opinion is not binding on the Organ which requests it, or on any Member State. The territories of the OECS have a combined land mass of 4,271 km2 or 1,649 sq miles. In 2015 the population of the OECS was estimated at approximately 1,049,374. With this in mind it is clear that the Revised Treaty provides citizens of the sub region a wider space to operate so that they can move and participate in economic and social activities in a broader economic space than any individual island can provide on its own. If we remain faithful to the provisions of the Revised Treaty there is no doubt that it will have a significant beneficial impact on the lives of the people of the subregion. The framework for this to happen exists in the Revised Treaty – the challenge is now on our shoulders to ensure that the aspirations of Member States as contemplated by the Treaty become a full reality, sooner rather than later. ¤

Article 5 of the Revised Treaty requires Member States to honour and carry out the obligations arising out of the Treaty as well as those resulting from decisions taken by the Organs of the Organisation. In some cases this may require a Member State to enact or amend legislation in order to render its municipal law OECSBusinessFocus Jan / Mar |

Achieving “Good To Great” Boardrooms In The Caribbean: Part 1

od To Achieving ‘Good-To-Great’ Boardrooms In The Caribbean: Part 1 By: Dr Chris Bart & Dr. Mark Fuller

The turn of the century came marked a period of upheaval and the corporate governance crisis was one of the most prominent of them all. In response, academics and consultants began worked tirelessly to prevent such a crisis from ever happening again. The 2008 market panic proved that reforms such as SarbanesOxley were not enough to create strong and capable boards of directors. It suddenly became obvious that existing reforms were insufficient to improve boardroom effectiveness.

Nowadays, ‘classic’ corporate governance frameworks and protocols are made up almost entirely of guidelines

and purported best practices that are supposed to make the whole process work smoothly. However, we believe that there are at least four liabilities that come with using these guidelines that endanger achieving a high performing governance system. The liability of simplicity is the first one: when we reduce complex governance thinking to such a basic level that it renders its insights and impact to meaningless drivel. The liability of misdiagnosis is the misinterpretation of those guidelines and best practices that are supposed to bring discipline to the governance process are not applied correctly and thorough analysis is not appropriately performed. The third problem is the liability

of sameness, where we treat every organization’s governance issues the same, when really they are different. The final weakness is the liability of the outsider, where all the governance rules and policies accepted by an organization and its board are dictated from the outside and ignore important internal considerations.

Dr. Chris Bart, FCPA is a recognized global governance authority and Co-Founder of the Caribbean Governance Training Institute. The Institute is the first to offer throughout the Caribbean an intensive 3 day governance programme leading to the prestigious and internationally recognized Chartered Director (C.Dir.) designation. For more information visit CGTI’s website: http://www. caribbeangovernancetraininginstitute.com or phone Lisa at 758 451 2500

OECSBusinessFocus Jan / Mar |

Dr. Mark Fuller is an Associate Professor of Strategic Management at the Gerald Schwartz School of Business at St. Francis Xavier University. His research interests involve corporate governance, competitive strategy and stakeholder management.

To overcome these problems, we asked board members directly how they think the governance of their organizations might be improved. After all, they are the front lines of corporate governance. We approached 193 directors participating in a universityaccredited director education programme. They represented publicly traded, private for-profit, non-profit, voluntary, institutional and governmental sectors. After analyzing their feedback, we concluded that there are nine keys to governance success that directors need to consider as a means to improving their board’s performance.

www.oecsbusinessfocus.com

The primary factors In this article, we will outline the first five key factors that we believe are the ‘fundamental five’ necessary to ensure a successful board leadership culture. We’ll cover the other four in a subsequent issue of OECS Magazine. Establishing strategic direction is a critical responsibility that board members have in nurturing the success of their corporations. This strategic behavior does not simply emerge during board meetings, but rather has to be encouraged through sustained effort but particularly on the part of the board chair. Directors especially need to engage actively with management when it comes to launching the strategic planning process, helping to create the actual mission, values and vision of the company, as well as planning the major milestones for the long run. Statistics have shown that 90% of an organization’s failure falls on the execution process and only 10% on the actual strategic decisions. Our large sample of directors suggest that boards need to become better at assessing their organization’s ability to execute a chosen strategy, and be more diligent in monitoring its implementation. In so doing, an organization will be more likely to achieve their strategic goals, and outperform those boards who limit their oversight merely to the design of the strategic plan.

properly scrutinize and vet management’s ideas in order to achieve better outcomes. Openness to change. While conducting independent research before board meetings helps directors develop their own independent ideas, it is also critical for directors to be flexible during board meetings and be receptive to new ideas. Directors need to establish their openness and commitment to improving the company, regardless of their pet ideas and pre-conceived notions and biases. They need to be more concerned with “what is right” as opposed to “who is right.” Sadly, too many directors focus on the latter, and not enough on the former. We therefore consider flexibility in accepting new ideas and new alternatives to be one of the hallmarks of a high performing board and a first class governance system. To reach this state of sublime governance mindfulness, directors are encouraged to ask themselves the following two questions when dealing with board members or members of senior management: “How do I know I am right?” and “How do I know the other person isn’t wrong?”

Grea Mutual support and respect among board members. We all know the feeling that happens when peers treat us poorly – especially ignoring our emails, phone calls or comments – or worse, denigrating our contributions. Accordingly, our sample of Directors almost universally stated that respecting both peers and management within a company is very important to the creation a successful board culture. “It will nurture the necessary enthusiasm that will give birth to brilliant ideas,” one director eagerly proclaimed. But oddly, working co-operatively with one another is a difficult lesson to learn for some directors. To become better at this, what directors need to do first is to practice the art of inoffensive contentiousness. This means learning to challenge a colleague’s ideas politely, without creating hurt feelings, and while still keeping true to one’s own convictions. To help accomplish this, it is recommended that such ‘self-assured directors’ strive to find ways to take a colleague’s objectionable notions and then transform them to better suit the current goal, problem or solution. In other words: create a win-win outcome for the two of you. Additionally, having the courage to step up, encourage and support colleagues in difficult conversations when the situation requires it is also very important. If such situations are left unchecked, it will not only degrade the effectiveness of that specific individual, but also the performance of the entire board. Pre-meeting director research and preparation. Whereas directors gather periodically to meet as a group, senior management lives the highs and lows of running the organization on a daily basis. Therefore, it is not surprising that when management comes seeking board approval for a course of action, often just a single choice is presented for consideration. Rarely, however, is just one option available: it is management that narrows the range of choices before bringing them to the board with their preferred outcome. Rather than blindly follow management’s lead, directors therefore need to gather, and analyze information from multiple sources (and not just the facts management feeds them) to be able to better perform their jobs. They need to align the management’s recommendations with other sources of information to make sure that that what management is telling them “actually makes sense”. Accordingly, it is both necessary and important for directors to conduct pre-meeting research activities so that they can

Active listening skills. The fifth element for improved board performance is active listening and there are several factors indicating the presence or absence of it. One positive indicator would be for a director to ask for additional clarification from a colleague or management before interjecting their own arguments into a discussion. Expressing precaution and reserving judgment are especially useful active listening techniques. In contrast, cynicism, sarcasm and “talking over another’s speech” will never build the constructive relationships needed for an effective boardroom culture and will only create or widen the gap among board members and management. Another positive indicator of active listening is the involvement of all the members during a meeting. By promoting inclusive discussions among all the board members in the room, and calling on the less vocal ones to participate, more fulsome discussions will occur, and these can mark the turning point in driving a board decision from good to great.

Conclusion In this article, we offer a new approach to corporate governance since history has shown that existing practices, such as prescribed guidelines and so called ‘best practices’ have not worked very well. Our perspective sounds nothing like the ‘old governance laws’ where almost everything was imposed from the outside. Instead, we advocate for governance reform from the inside, by directors themselves, and so far it is proving to be the more effective strategy for improving board performance and the behaviors of its directors. Our analysis, done over a quite extensive period of time, identified nine different types of constructive behaviors (of which five were reported here) in which we realized directors were capable of and responsive to creating a more effective boardroom culture.

So here’s the big uncomfortable question for Caribbean directors: to what extent does your board truly encourage the kinds of behaviours discussed above? If your board is not promoting all of these factors, then you risk making mediocre decisions that favour the competition and that put organizational assets at risk. If, however, you believe there is room for improvement in the way your board of directors functions, you might want to consider sending your directors to one of the corporate governance training programmes currently available in the region – like the extraordinarily unique 3 day Chartered Director Programme (“C. Dir.”) currently being offered by The Caribbean Governance Training Institute. After all, it’s not education which is expensive, but rather ignorance. ¤ OECSBusinessFocus Jan / Mar |

MONEY MATTERS

DOING GOOD

DOING

GOOD By: Samuel Rosenberg

hoever tells you that business is all about making money is not entirely correct. Every company, self-employed individual and non-profit organisation must consider how they are going to interact with their local, national and global communities, to find out the best way to share a significant part of their profits, by doing good. Obsessing with wealth creation and materialism may be the original driver behind most businesses, but modern day activities must blend carefully with “doing good” and giving back while making reasonable profits. Social media reporting and consideration of the social footprint is vital for all forward thinking businesses. There are many great examples around the world where a company consistently gives back and not necessarily into its local community. One fine example is American eyewear company, Warby Parker, who mostly sell glasses online. For each pair of glasses purchased by an individual, the company donates one pair to less fortunate children in developing countries. They have combined innovation of the eyewear purchasing process which also allows free home try-ons, while continuing to demonstrate a keen interest in helping other communities. Business analysts agree that the correlation between business and “doing good” helps a business become stronger in itself, both visually and financially. For a business of any size, from the oneperson small business to the largest on your island, it has to consider its long term OECSBusinessFocus Jan / Mar |

future and their relationship with their customers and the community. This can be guided by three potential plans written into the organisation’s mission statement. They will consider if they are giving enough back to charity, non-profit organisations and the general community. They will plan to be better managers of the environment and its society. Finally, they will analyse and deliver these targets so that it is also financially beneficial to the owners and shareholders, as well as the customers. Where a business interacts, through social media, the press and other media, it can build an excellent reputation like Virgin, Sir Richard Branson’s company. Customers consider less about the profits that the company makes and more about purchasing high quality products at good prices, knowing that the company is going to give back in many different ways across communities around the world. Some utility companies only source their power from environmentally clean sources. This attracts individuals who are able to purchase their utilities from green sources while the company continues to make reasonable profits. There are a number of organisations who choose to promote their business by offering to place their marketing through community outreach and the activities of philanthropic behaviour. Only by achieving

good sales do they then make a good return on the company’s finances. They have flipped the complete calculation by considering how they can do good first and make profits, second. There are already a high number of significant good community causes across our small island states. For businesses, there is a great opportunity to consider what good you can do in the community as well as making significant profits to keep the owner, their employees and their customers happy for many years ahead. How can you develop your organisation to act as a “doing good” company in your community? ¤

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

Strategy development is not a solitary exercise... let Caribbean Strategy guide the process.

Caribbean Strategy Inc

Rethinking Strategy for Growth

Caribbean Strategy Inc. (t) +1 758 285 8878 (e) info@caribbeanstrategy.com (w) www.caribbeanstrategy.com

MONEY MATTERS

The ECFH Head Office Complex in Castries, St Lucia

Jamaica’s Proven Investments to Buy Bank of St Lucia International Ltd (BOSLIL)

Christopher Williams Proven Investments Ltd CEO

Jamaica’s Proven Investments to Buy Bank of St Lucia International Ltd (BOSLIL)

ROVEN Investments Ltd (PIL) has entered into an agreement to purchase 100 per cent of the Bank of St Lucia International Ltd (BOSLIL), an international bank based in St Lucia.

products, as well as existing partnerships. Also, PROVEN Wealth’s clients will have access to BOSLIL’s international banking products and services”.

BOSLIL is a wholly owned subsidiary of the East Caribbean Financial Holding Company Ltd (ECFH), a publicly traded company listed on the East Caribbean Securities Exchange.

In 2015, as outlined in financials published on its website, BOSLIL made net profit of US$2.51 million to year end December 2015, down from US$3.16 million in 2014.

Proven is targeting the growing market for international banking. Christopher Williams, President and CEO of PROVEN Management Ltd with responsibility for the operations of PIL, said the deal presents “an exciting opportunity for PROVEN Investments to move into the international finance market with a strong team.

Interest income, however increased year over year to US$3.8 million up from US$3.63 million the year before. Earnings from fees and commissions also increased to US$2.4 million, up from US$2.1 million the year before. During 2015, operating expenses for the bank climbed to US$4.23 million, coming from US$3.9 million in 2014.

“The global international banking industry has reportedly between US$21-30 trillion in deposited funds. Given its existing regional footprint, BOSLIL is well positioned to take advantage of market share in the local, regional and global markets for international banking services. This is a tremendous global opportunity.” He said negotiating parties are now moving towards regulatory approval in St Lucia and expect the transaction to close by the first quarter of 2017. The value of the deal was not shared. But the investment amount, Logan said, reflects a fair price relative to the book value,” of BOSLIL which has over US$300 million in assets and nearly doubles PIL’s existing balance sheet. PIL itself is incorporated in St Lucia as an International Business Company and is listed on the Jamaica Stock Exchange. Its primary business is the holding of tradable securities for investment purposes, but it also pursues private equity opportunities. Acquisitions include Access Financial, Jamaica’s largest microfinancier in which it has a 49 per cent stake. He added that the synergy created by the acquisition “will present BOSLIL’s existing client base with PIL’s access to Caribbean investment opportunities and corporate and individual financial OECSBusinessFocus Jan / Mar |

Williams, in commenting on the bank’s performance said, “Although there was volatility in the securities portfolio in 2015, we reviewed the investment assets and are very comfortable with them. “The investments are primarily fixed income, mostly investment grade, tradable, diversified and are of good credit and asset quality. We are looking towards the long-term income generation capacity and synergies that can be driven by this opportunity’. Current shareholders of BOSLIL include the Government of St Lucia, Republic Bank Ltd, a consortium of five OECS indigenous banks and financial institutions, National Insurance Corporation (St Lucia), with the remaining 30 per cent widely held by over 4,000 individual and corporate investors from throughout the Caribbean region, the bank’s website indicates. The East Caribbean Financial Holding Company (ECFH) was the product of a 2001 merger of two financial institutions, the largest commercial bank (National Commercial Bank) and the sole development bank in St Lucia (St Lucia Development Bank). The Group now claims the position of St Lucia’s and the Eastern Caribbean’s leading financial institution. ¤ www.oecsbusinessfocus.com

The update provided insight on the marketing and business development initiatives, and the progress being made as BVI Finance transitions to become BVI Finance Limited, a private company limited by guarantee to fulfill the role of financial services promotion and business development in a public/private partnership. The event opened with a welcome provided by interim Executive

Director of BVI Finance, Lorna Smith and comments from Permanent BVI Announces New Financial Services Strategy Secretary in the Premier’s Office and Chairman of the BVI Finance interim board, Brodrick Penn who divulged that the new entity will become a reality within six weeks.

Gary Hales

Head of Business Development

BVI Announces New Financial Services Strategy BVI Finance launched its 2017 to 2020 marketing and business development strategy at a private event on 23 November 2016. The BVI Finance Strategy Update was held to inform local financial services industry decision makers of the plans BVI Finance has to further develop the British Virgin Islands’ booming financial services industry.

BVI Finance’s new Head of Business Development, Gary Hales, outlined the organisation’s 2017 to 2020 strategy which was broken down into four parts – the strategic aims, ten key deliverables, the new organisational structure and the benefits of membership. Going forward, BVI Finance’s main three strategic aims are: to enhance partnership with key stakeholders; strengthen the results culture and build capacity; and align marketing and business development activities with the jurisdiction’s strategic priorities. Hales also revealed the new organisational chart, which now includes additional business development and communications roles, and shared the advantageous benefits of signing up for membership with BVI Finance Limited. The start of the 2017 to 2020 strategy signals a new era for BVI Finance. The revitalised strategy is essential to the evolving collaboration between public and private sector, and will help to ensure that the BVI remains an internationally respected financial centre and a global leader in the provision of innovative financial services products. ¤

CXC

OECSBusinessFocus Jan / Mar |

Improving the Digital Customer Experience

Improving the Digital Customer Experience By: Michelle Stephens-Jules

ost of us can recall an unpleasant service encounter either as a walk-in customer faced with a rude sales associate, or as a digitally eager customer putting in your credit card details one too many times, and being charged for the product multiple times. Although unfortunate, these scenarios are common. As internet use in the Caribbean increases and commercial banks broaden their online offerings to merchants, Caribbean entrepreneurs and traditional retail businesses are building digital capabilities by adopting e-commerce and other digital platforms to drive sales, interact with customers and address service concerns. Inspired by international advertisements where customers order online and either pick-up in-store or request home delivery, Caribbean customers are expecting a seamless integration of experiences across all channels, whether mobile application, website, retail store, call center or self-service kiosk. While this level of integration is lead by larger regional businesses, multi-channel conveniences requires that businesses enable transactions and deliver services that are simple, seamless, consistent and of the highest quality. So what steps should businesses and entrepreneurs undertake to ensure the digital experience meets customer expectations and supports business objectives.

1. Identify the customer segment for each digital channel

Which of our customer segments actually use our digital channels? How do they behave? Which transactions do they conduct? A business that rushes to introduce a digital channel without first answering these questions will be misallocating good resources and potentially creating customer dissonance with the brand should the channel not meet expectations. By identifying the customers currently using or most likely to use each digital channel, the OECSBusinessFocus Jan / Mar |

business will be able to define the role the specific channel plays in their lives and establish a general demographic profile to target promotions and increase sales more effectively. In early August 2016, the National Commercial Bank of Jamaica (NCB) launched its ‘NCB Quisk’ solution, a mobile money account that “enables persons to send and receive monies and pay via text messaging”. By so doing, NCB identified the customer segments that will likely use its mobile services thereby leading to, motivated customers, a new channel and new sources of revenue.

Michelle Stephens-Jules is a Chartered Marketer, Certified Strategy and Business Planning Professional and the Chief Strategy Officer at Caribbean Strategy Inc. She has over 15 years experience in marketing, business development and strategic planning across the Caribbean, and holds a MBA from the Edinburgh Business School. You can follow Ms. Stephens on Twitter at michellestephens@Michst22. www.oecsbusinessfocus.com

2.Understand the customer journey from end-to-end

Customers use digital channels for many different reasons. They make purchases, access content and undertake other self-service transactions. Along this journey, they may encounter inconsistent information, incomplete transactions due to poor loading times or are invariably deferred to another channel to complete a transaction or resolve an issue. With the advent of the online review, customer experiences good and bad are broadcasted for the world to see and often picked up by the traditional media. Caribbean businesses are therefore able to use these insights to deepen their understanding of customers’ experiences directly. To translate this information into real value (reduced - silos, contact points and customer effort), businesses need to then proactively map each step the customer takes, each process encountered, within each digital channel, to identify the enablers and inhibitors of memorable customer experiences that could eventually be worthy of brand advocacy. Following what may have been proactive customer journey mapping, an increase in customer complaints or recognition of technology obsolescence, Caribbean Airlines (CAL) in September 2016 launched its upgraded mobile website as part of an overall “customer focus” renewal. The new mobile website aims in part to simplify the booking and check-in processes and enhance the features for and information on flights and its frequent flyer programme. For CAL, the website acts as a sales, information delivery, customer feedback and overall marketing channel, so ensuring the customer experiences easy navigation, is able to complete transactions and find relevant and timely information is critical to its business objectives. While the verdict is still out on the impact of the change on customers’ experience, if managed effectively, CAL can reduce customer pain points, increase sales, improve marketing effectiveness and enhance cross-functional integration with its loyalty miles program and cargo services.

3.Measure channel performance for continuous improvement

Being current with the experience of digital customers enables the business to address bottlenecks, develop improvement strategies and outline policies for ongoing enhancement. Changes in technology will force its own improvements to the digital platform but the objective should be to define practical and measurable indicators that will allow the business to remain flexibility and responsive for continuous customer experience improvement. Whether the business measures traffic levels, number of unique visitors or whatever the specific indicators, it will be influenced by the overall strategic objectives of the business and will vary from channel to channel based on their features. Finally it will allow the business to revisit protocols, processes, present capabilities and functional responsibilities towards ensuring the experience delivers on the brand promise. The opportunities from mapping your customer’s journey are immediately available to enhance the service experience as well as pursue new business opportunities. Adopting new digital channels without first understanding the customer segment likely to use the channel and their experiences using the channel once launched, exposes the business to resource wastage, increased silos across functional areas and damages the brand. It requires a cultural shift in most instances for more agility and accountability but ultimately when executed well the business generates personalized experiences that aligns with the brand promise; increases conveniences and interaction points for customers and expands the sales channels. Investing in digital channels can be very rewarding for businesses, the challenge is to foster the right culture for agility, minimize pain points along the end-to-end process and reward employees for their commitment and customer for their loyalty. ¤

Geest Line

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 Jan / Mar |

TOURISM

Caribbean Tourism Keeps Competitive Edge

Caribbean Tourism Keeps Competitive Edge By: Sean Nero

aribbean tourism remains competitive despite growing competition from new industry players in the Pacific, Asia, the Middle East and Africa, says Richard Sealy, outgoing chairman of the Caribbean Tourism Organisation (CTO). Speaking at the recent CTO State of the Industry Conference (SOTIC) in Barbados, he said: “In the face of all of this, the region recorded 28.7 million visitor arrivals in 2015, an increase of seven per cent. With this performance, the Caribbean has outpaced international tourism arrivals which grew by 4.4 per cent in 2015.

“We must commend ourselves on achieving healthy growth in this challenging, competitive industry. This year we are on target to reach 30 million arrivals which is a very healthy state of affairs. As you are all aware, increased arrivals must be coupled by the concomitant provision of increased room stock. For our part in Barbados, we have plans on stream to increase our room stock by some 2306 by 2019, with a planned investment of US$1 billion.” Sealy said the Zika epidemic in the Caribbean could have been worse if CTO officials had not taken practical steps to OECSBusinessFocus Jan / Mar |

partner with the Caribbean Public Health Agency (CARPHA) and the University of the West Indies (UWI). This strategic move contributed to prevention and mitigation, through public service announcements on preventative steps and control measures for residents and visitors. There is a new buzz, Sealy said, about the Caribbean as an ideal Richard Sealy holiday and business destination. He called on destination experts Minister of Tourism in the region to create unique experiences to ensure the sustainability for the industry. “A simple audit of where we are now and where we plan to go is in order. Early successes in tourism contributed to a stable economy. Suddenly, Caribbean destinations were sought after for holidays and honeymoons.” ¤ Courtesy: The Trinidad & Tobago Guardian www.oecsbusinessfocus.com

GRENADA

Special Feature

GRENADA “Spiced With Opportunity”

Image Courtesy of: The Point at Petite Calivigny

OECSBusinessFocus Jan / Mar |

FEATURE

Introductory Message From Prime Minister,

Dr. The Right Honourable Keith Mitchell Prime Minister’s Message

n behalf of the Government and People of Grenada, I welcome readers to this edition of the OECS Business magazine, featuring our homeland, the Spice of the Caribbean. We are happy to be afforded this opportunity to promote our beautiful Island, and we thank the organizers and publishers of the magazine for their hard work in ensuring that Grenada, its charms, beauty and discerning characteristics and features are aptly featured and presented to the readers and friends of the region. We look forward to, at one time or another, welcoming you all to our homeland, and sharing with you the warmth, friendliness and security of our Island and people – a people united by a deep and abiding love for Grenada, and a commitment to building a better and more prosperous life for all at home and anyone who wishes to join us from abroad. When foreigners and friends come to our shores, they can be assured that they will leave with enduring memories of stunning sceneries, a safe environment and delightful times spent in the company of our people, In fact, our reputation as being the friendliest and warmest people in the region is one in which we take great pride. Among our greatest treasures is the fact that Grenada is also one of the safest nations in the Caribbean. This is something that we do not take for granted, especially in the times and world in which we live. Our nation also has other non-obvious attractions for the discernible traveler. Recognizing the importance of moving with the times and securing sustainable livelihoods and future for generations to come, Grenada continues to be a leader among Small Island Developing States in developing energy conservation and renewable energy systems; expanding our tourism and ecotourism industries, while safeguarding our unique natural resources and providing viable livelihoods for our people. We are tremendously proud of our nation and what we have achieved together in the last few years. The Social Compact signed onto between the Government, the private sector, trade unions, churches and civil society organizations and other social interest groups to collaborate for the advancement of our nation is one in which we take great pride because we have seen the benefits derived from it. This recognition by all stakeholder that progress can only be achieved through concerted action is a direct contributor to the economic growth we have seen in the last three years – one which is among the fastest and strongest in the region. I can continue to discuss and describe Grenada, its attributes and people, but don’t just take my word or those of the various stakeholders who, I am sure, justly and proudly promoted our lovely Grenada in the pages ahead. I invite you to come experience the magic, the beauty, the uniqueness of our PureGrenada Isle of Spice. I am sure that you will see in Grenada the magnificence, economic potential and untapped opportunities that our Government envisions, and that you will seize the changes to visit again and again, do business, or stay for a while and make our home, your home – through our Citizenship by Investment Programme and other developmental avenues. I look forward, on behalf of all Grenada, to welcoming you to our home – the spice Isle of the Region.

Keith Mitchell Prime Minister

OECSBusinessFocus Jan / Mar |

www.oecsbusinessfocus.com

Grenada,

Grenada, Realising The Benefits Of A New Approach To Citizenship By Investment

Realising The Benefits Of A New Approach To Citizenship By Investment

renada’s Citizenship by Investment (CBI) Programme continues to be an attractive avenue for investors the world-over and Grenada has strategically positioned itself neatly in the foresight of those who can not only afford to invest but are also interested in legitimately establishing a new home, away from home. Grenada more than 3 years ago re-joined the CBI community of nations and under the direction of the prime minister and minister for Finance Dr the right Hon Keith Mitchell. Minister in the Prime Minister’s Office Hon Alexandra Otway-Noel is charged with promoting the programme and has established Grenada’s CBI in the same lines as “prestige” and “integrity” due to the outstanding calibre of high net worth investors coming to the island, the quality of the projects and the tremendous success currently being seen in Grenada in growth and development. In a sit-down with Business Focus OECS, Minister Otway-Noel outlined the separations between Grenada’s programme and that of other islands. “Grenada’s CBI Programme has been extremely well received around the world with several major marketing groups having dubbed it the best in the Caribbean.

programmes from around the Caribbean and the world. She cited some 14 projects Alexandra Otway-Noel currently active through the Minister in the Prime Minister’s Office CBI with the intention of looking to take advantage of Grenadian the Grenada Government to keeping a tight lid on the number of citizenship,” the Minister said. approved projects. The island’s CBI Programme is marketed by “The ultimate goal is to see these projects a series of firms around the world including built so that we have jobs and opportunities Europe and North America. for our people,” the Minister said, adding, “Citizenship by investment is not something “there must be a domino effect.” that is uncommon. All countries have some More than seven of these CBI-linked level of investment opportunity that could projects are ongoing construction initiatives. lead to citizenship. So, we are out there with Tourism, Hospitality and Fisheries industries Cyprus and Canada and other countries that are interested in such programmes,” the are among those in active progress. Minister said. Despite its successes though, the Minister underlined her Government’s determination She cited “friendly competition” with CBI to “protect” the island’s sovereignty and Programmes in other islands but maintained makes clear its intention to control the that there was “enough [credible investors] volume of CBI investors and approved to go around and as a region we must pay projects in order to ensure that what is close attention to protecting the region”. approved is actually realisable. “We live in a global village where people “We want to make sure that we protect our want to become global citizens and more sovereignty. We are not interested in huge and more people are moving around the volumes. We are interested in investors who world for various reasons. We are ready are looking to have a good return on their to be a part of that and we recognise the investment as well as have respect for our opportunity to build our economy as a result of it,” the Minister stated. citizenship,” the Minister said.

“We don’t skimp on our due diligence at all. We continue to ensure it is ironclad to guarantee longevity in the program,” Minister Otway-Noel said.

Grenada boasts one of the fastest growing economies in the region and Minister OtwayNoel has sought to create a linkage between the existing economic growth and the contribution made by the CBI Programme.

Minister Otway-Noel noted a wealth of investment opportunities that exist in Grenada across all sectors and the island’s exceptional standing with the IMF and other global institutions.

She went on to note that in order to preserve the standing of projects and other initiatives that fall under the CBI Programme, the island has established a series of legal protocols and requirements.

Citing the many benefits for CBI investors, the Minister noted Grenada’s “excellent diplomatic relations around the world along with unique visa free access to key territories including China.

“We are moving forward and we can see that we have a very bright future ahead of us,” the Minister said.

According to the former Tourism and Implementation Minister, Grenada’s CBI Programme is set up in a manner that takes into consideration the shortfalls and lessons taught by other more established

“There is a lot going for someone investing in Grenada because of the strength and diversity of our economy as well. There is a lot of potential for investment and development opportunities for people

To qualify, each applicant, their family and or business partners must be approved individually by the Government of Grenada through a strict due diligence process. ¤

OECSBusinessFocus Jan / Mar |

FEATURE

Grenada Citizenship by Investment Programme

Photography By: Lisa Larsen

Grenada Citizenship by Investment Programme A Transformational Initiative

he Grenada Citizenship by Investment Committee (CBIC) is the Government body responsible for overseeing the processing of applications for citizenship by investment or by permanent residence. The CBIC assesses each application in accordance with the Grenada Citizenship by Investment Act, 2013. It then makes recommendations to the Minister, who has the final say on whether to approve, deny, or delay the granting of Grenadian citizenship. The CBIC comprises of ten persons, all of whom answer to the Minister. One of these individuals leads the CBIC as committee chairman. This diverse group of professionals possesses a wealth of experience in areas such as law, finance, trade, and administration – allowing the CBIC to make informed decisions on citizenship matters.

• Is at least eighteen years old; • Is in good health; and • Has enough funds to make the required investment. The source of these funds must be legal. In order to ensure that the requirements listed above are fully adhered to, the Government of Grenada subjects each applicant to strict due diligence procedures. Moreover, each applicant must supplement his or her application with supporting documents. These include, but are not limited to, original or certified copies of: • A certificate by a medical practitioner, indicating that the main applicant and his or her applying family members are not suffering from any communicable disease and that they are otherwise in good health; and a police certificate.

BECOMING A CITIZEN PERSONAL REQUIREMENTS In order to protect its people and Grenada’s international standing, the Government of Grenada will only grant citizenship to individuals who are truly deserving of that honour. Therefore, the Government will deny the application of any applicant who: Provides false information on his or her application form; Has at any time previously been convicted in any country of an offence for which the maximum custodial penalty for the same or similar offence in Grenada is in excess of six months imprisonment (unless he or she received a free pardon); • Is the subject of a criminal investigation; • Is considered to be a potential national security risk to Grenada or to any other country; • Is involved in any activity likely to cause disrepute to Grenada; or Has been denied a visa to a country with which Grenada has visa-free travel and who has not subsequently obtained a visa to the country that issued the denial Moreover, the main applicant must demonstrate that he or she: OECSBusinessFocus Jan / Mar |

www.oecsbusinessfocus.com

ROUTES TO CITIZENSHIP: CONTRIBUTION OR INVESTMENT In addition to fulfilling the personal requirements listed above, applicants must also choose between two potential routes for citizenship. These are: • A contribution to the National Transformation Fund; and An investment in an approved project (real estate) in Grenada. • The National Transformation Fund (NTF) is a Government fund responsible for financing projects that will benefit Grenada’s economy and help its diversification. • Applicants who choose this route must make a one-time contribution to the NTF. It is important to note that applicants may not contribute to the NTF in person but rather that they must use the services of an Authorised Local Agent. • Under the NTF route, applicants may either immediately apply for citizenship, or first apply for permanent residence and apply for citizenship at a later stage. • Please refer to your Authorised Local Agent for more information on the NTF route and the criteria that applicants must fulfill. THE NATIONAL TRANSFORMATION FUND (NTF) The National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent. The NTF finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture, and alternative energy. Having made a donation to the NTF, investors are left with a true sense of having contributed to their new nation’s wellbeing. • Applicants opting for the NTF route must contribute at least USD 200,000 to the Fund. The following chart highlights the costs and fees associated with this route. Get Fees Chart from Website here http:// www.cbi.gov.gd/national-transformation-fund/

APPROVED PROJECT (REAL ESTATE) IN GRENADA The process of approving a project for the purposes of citizenship by investment begins with the Citizenship by Investment Committee, which reviews viable projects and recommends them to the Minister. The Minister then decides whether to approve the project, and publishes his or her approval in the Gazette. Currently, the vast majority of approved project consists of real estate developments on the island of Grenada. These include luxury hotels, resorts, and villas. Applicants who choose to invest in an approved project must make the investment through an Authorised Local Agent. Investments in real estate must be maintained for at least three years from the date on which citizenship is granted. Please refer to your Authorised Local Agent for more information on the approved projects route and the criteria that applicants must fulfill.

APPROVED PROJECT (REAL ESTATE) IN GRENADA One of the options available to applicants seeking to obtain citizenship by investment in Grenada is to invest in a Governmentapproved project. Currently, these projects encompass real estate developments such as hotels, villas, and resorts. Because of the growth of the tourism industry, there is rising demand for tourist housing facilities. Real estate developments are thus fantastic opportunities for investors looking for high returns. Applicants opting for the approved project

(real estate) route must invest at least USD 350,000. They must keep the real estate for at least three years following the grant of citizenship. The following chart highlights the costs and fees associated with this route. Get Fees Chart from Website here http://www.cbi.gov.gd/grenada-real-estate/ Under both the NTF route and the approved project (real estate) route, the contribution or investment must be accompanies by application, due diligence, processing, and – in the case of approved projects only – government fees.

BENEFITS BENEFITS OF CHOOSING GRENADA’S CITIZENSHIP BY INVESTMENT Programme Individuals who choose to apply for citizenship under Grenada’s Citizenship by Investment Programme may take advantage of the following: • Minimal processing fees. • Fastest turnaround from application to citizenship in approximately 60 days. • No interview, education, or management experience required. • No requirement to reside in Grenada before or after citizenship is granted. • Well-known, stable and established investment environment. The application process is confidential, with no disclosure or exchange of information with other governments or bodies, except when due diligence checks are carried out as part of the application process. These checks are performed by an authorised due diligence agency.

BENEFITS OF GRENADIAN CITIZENSHIP Individuals who obtain citizenship through Grenada’s Citizenship by Investment Programme are entitled to the same rights as any other Grenadian citizen. These include the right to live and work in Grenada at all times. Moreover, because Grenada is a member of the Caribbean Community (CARICOM), Grenadian citizens have the right to live in any other CARICOM member state. Grenada allows individuals to hold dual citizenship, and citizenship may be extended to family members, such as a spouse, dependent children, and dependent parents. Children and young adults may obtain preferred access, and in some cases grants, to top schools and universities.

LIFESTYLE BENEFITS Grenada offers its citizens social and political security, reinforced by its membership in the United Nations and the Commonwealth of Nations. Grenada’s local community is culturally vibrant, vivacious, and extremely friendly. Grenada has a long history, and locals are proud of their national heritage, which they celebrate throughout the year. Finally, Grenada is the perfect setting for both adventure and relaxation: its wildlife attractions, marine life, and national parks make it an exciting place to explore, while its super-yacht marina and pastel towns make it ideal for strolling and unwinding. BUSINESS ADVANTAGES OF GRENADIAN CITIZENSHIP Grenada has no foreign income, wealth, gift, inheritance, or capital gains tax. There is no restriction on the repatriation of profits and imported capital. Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance. Grenada’s OECSBusinessFocus Jan / Mar |

FEATURE currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD). Lastly, there is duty-free trading in the Caribbean.

INTERNATIONAL MOBILITY Grenadian citizens can travel without visa restrictions to more than 115 international and Commonwealth countries. These include the United Kingdom and all other members of the European Union, and important business hubs such as Singapore and Hong Kong. Grenada is one of very few nations whose citizens can travel to the People’s Republic of China without first obtaining a visa. THE ARTON INDEX Arton Index is a comparative tool measuring programmes for residence and citizenship from the perspective of the investor. The Index is constructed by indicators, grouped in categories. Indicators are based on ARTON’s industry experience, field analysis, and assessment of the key factors that high net worth individuals consider when they choose the programme that will best fit their needs. The Index is revised semiannually, in June and in December. Where significant changes occur in any of the assessed components for a given country, update is made off these two predetermined assessment periods. KEY FINDINGS • Both Dominica and Grenada are excelled to the top mainly due to their recent adoption of the Schengen visa waiver • Bulgaria remains Europe’s programme of choice • UK and the USA rank last mainly due to the duration and complexity of the processes but still remain, along with Canada one of the best migration destinations. METHODOLOGY The Arton Index measures how appealing global residence and citizenship programmes are to high net worth individuals. It is composed of 5 pillars. These principal dimensions by which programmes can be assessed are divided into industry-related, including Speed, Cost and Simplicity, and general – Quality of life and Global mobility. Each category and its components make the individual score of a programme. The maximum score that a programme can get is 100 points. The methodology is construed in a way, to allow the application of an assessment grid that reflects the programme type as the index is applied to both residence to citizenship programmes and direct citizenship programmes. OECSBusinessFocus Jan / Mar |

The following chart lists the nations to which citizens of Grenada may travel visa-free. AMERICAS

AFRICA

ASIA

EUROPE

OCEANIA

Anguilla

Botswana

Armenia

Austria

Countries and Territories

Antigua and Barbuda

Cape Verde

Bangladesh

Belgium

Cook Islands

Argentina

Central African Republic

Cambodia

Czech Republic

Fiji

Aruba

Egypt

China

Denmark

Federated States of Micronesia

Bermuda

Kenya

Hong Kong

Estonia

Kiribati

British Virgin Islands

Malawi

Iran

Finland

Niue

Bolivia

Mauritius

Israel

France

Pitcairn Islands

Bahamas

Madagascar

Jordan

Germany

Palau

Barbados

Mozambique

Laos

Gibraltar

Samoa

Belize

Saint Helena, Ascension and Tristan da Cunha

Macau

Guernsey

Solomon Islands

Cayman Islands

Seychelles

Malaysia

Hungary

Tuvalu

Chile

Swaziland

Maldives

Iceland

Vanuatu

Colombia

Tanzania

Nepal

Ireland

Costa Rica

Togo

Philippines

Isle of Man

Dominica

Uganda

Seychelles

Italy

Dominican Republic

Zambia

Sri Lanka

Jersey

Ecuador

Zimbabwe

Singapore

Kosovo

Falkland Islands

South Korea

Latvia

Grenada

Timor-Leste

Lithuania

Guadeloupe

Luxembourg

Haiti

Malta

Jamaica

Netherlands

Martinique

Norway

Montserrat

Poland

Netherlands Antilles

Portugal

Nicaragua

Slovakia

Panama

Slovenia

Peru

Spain

Saint Kitts and Nevis

Sweden

Saint Lucia

Switzerland

Saint Vincent and the Grenadines

Turkey

Suriname

United Kingdom

Trinidad and Tobago Turks and Caicos Islands Venezuela

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The Index examines all countries that are considered as major representatives of the global citizenship industry. As on the last Index update, the countries assessed include: Antigua & Barbuda, Australia, Bulgaria, Canada, Cyprus, Dominica, Greece, Grenada, Hungary, Latvia, Malta, New Zealand, Portugal, Singapore, Spain, St. Kitts & Nevis, UK, USA. The list may be enriched in time.

OUR AUTHORISED INTERNATIONAL MARKETING AGENTS

COST Cost is arguably the most important indicator for most of the investors and it has a maximum weight of 30 points. The three components that form the commitment an investor would have to make are taking into consideration, which are the required investment, the government fees and the cost of financing, where applicable. The methodology is based on the assessment of the cost for a family of 4 – principal applicant, spouse and two children aged 11-17.

Please contact us if you have any questions relating to the list below. You can call us at +1 473 435 0177 or +1 473 435 0178, and you can email us at info@grenadacbi.org.

BACKGROUND Every year, more than 20,000 families are looking to invest in their future through investor programmes for residence and citizenship. More and more high net worth individuals are inquiring into available options and countries are becoming even more eager to implement legislative policies that will secure their competitive positioning to attract those high net worth individuals and thus more foreign direct investments. The Arton Index is widely used by industry stakeholders to better assess each programme’s specific benefits for investors who in turn obtain a very clear picture of the industry and empowers them to make the best choice when they contemplate on one of the most important decisions for themselves and their families. ¤

Below is a list of Section 10 and Section 11 Authorised International Marketing Agents. Our Authorised International Marketing Agents are trusted global marketers who are permitted to promote, market, and disseminate information about Grenada’s Citizenship by Investment Programme. Authorised International Marketing Agents can assist you, along with an Authorised Local Agent, in obtaining your citizenship.

NAME

SECTION 10

SECTION 11

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+1 416 549 1612 www.akrosglobal.com oren@akrosglobal.com

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+1 514 667 3778 or +7 495 221 4170 www.apexcapital.partners nkatz@apexcap.org

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+1 514 583 3021 (Montreal), or +359 89 911 9275 (Soﬁa), or +971 50 501 9275 (Dubai) www.artoncapital.com

C A C Limited Mr C. Ashby

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+1 473 406 4606 cashby@ccgrenadines.com

Canadian International Capital Inc.

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+1 902 420 9436 cic@cicnova.ns.ca

Confederation Partners Limited Mr S. Lockyer

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+1 902 429 3800 lockyer@confederationcapital.com

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+1 902 298 2518 (Canada), or +971 4 282 7221 (Dubai) www.elevay.com chuck.mora@elevay.com

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www.gsacbi.com info@gsacbi.com

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+852 2116 1333 jfharvey@harveylawcorporation. com www.harveylawcorporation.com

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+1 473 439 0000 www.grenadacbi.com ms@desavary.com

The United States Regional Economic Development Authority (USREDA) David Matthews

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+1 561 900 7077 www.usreda.com david.matthews@usreda.com

United Damei Investment Co. Ltd

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+86 10 8527 6006 www.uniteddamei.com lisawang@uniteddamei.com

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+1 424 253 1209 (English), or +1 718 709 1585 (Chinese) www.usaiallc.com jessica@usaiallc.com hannah@usaiallc.com

Akros Globa

Apex Capital Partners

Arton Capital

Elevay Grenada Sustainable Aquaculture Limited Harvey Law Group

Savvy Grenada Marketing

USA Investments & Advisors

CONTACT

OECSBusinessFocus Jan / Mar |

FEATURE

An Interview with Steve Horsford Executive Director Grenada Citizenship by Investment Programme

An Interview with Steve Horsford Executive Director

Grenada Citizenship by Investment Programme

xecutive Director of the Grenada Citizenship by Investment (CBI) Programme, Steve Horsford, has described the CBI Programme as an extremely important economic tool for Grenada to diversify its economy especially considering the reduced global significance of small countries and the difficulties of accessing developmental funds from friendly Governments and International Agencies.

Horsford told Business Focus OECS that the entire concept of the Economic Citizenship Programme was a very good financial tool for the economy, labeling it as nothing short of good and sound judgement on the part of its architects. Grenada had initially introduced the Economic Citizenship Programme in 1999 but this was repealed in 2001. It was reintroduced by an Act of Parliament in August 2013. Business Focus OECS engaged in an exclusive interview with the CBI Director…

BF: How do you attract investors to your CBI Programme? SH: Advertising is the strongest tool for attracting investors. We have employed a few marketing agents who understand the Grenadian economy, culture and possibilities that exist here and the type of investments that are possible… We also appointed an advertising promotional firm to assist in that regard. A government Minister has also been appointed to assist with the promotion of the CBI Programme. In addition there are several industry conferences around the world which we attend to expose and advertise ourselves. It isn’t just a CBI thing. It affects tourism and many other sections of our economy. BF: How would you profile an ideal investor? SH: An ideal investor would be a very high net worth individual with a clean character and whose source of wealth we must be able to verify. Such a person, where we have a source of wealth that is impeccable and who has an interest in investing, is an ideal investor and we have been able to attract a number of them to invest in Grenada. BF: Why should an investor consider Grenada as opposed to another destination? SH: We are not competing with any other state. Grenada has some attributes that are unique and investors follow that which they think is important. Our relationship with some countries allows a Grenadian citizen access to benefits that are unparalleled in terms of visas, like being eligible to travel and establish businesses in the United States [and] live and work there under the UB2 Programme. We also have visa free access to the People’s Republic of China, which is something that is envied by many countries. In addition, we have a well-regulated jurisdiction to prevent people of the wrong caliber getting into our country. It all comes down to the things that are unique to Grenada and the opportunities to invest in our country.

financial results and indeed the projections. This year, 2016, we have met our financial target for the first time. And we did it without the element of competition and without circumventing any processes. Suddenly, well intentioned, high-impact people are getting the word about Grenada and notwithstanding the low prices of other countries, they are beginning to gravitate towards Grenada and we have seen quite an increase in the last few months. BF: What national programmes and projects have benefitted and/or been implemented since the launch of the CBI Programme? SH: The Grenada Government has established the Transformational Fund. There are many initiatives that are deemed transformational in nature by the government of Grenada. Infrastructure, education, health, and social security – these areas are deemed transformational in nature. Monies from the Transformational Fund go directly into a special account which is managed by a select committee that is established by law. They determine how the fund is managed. Tourism is one of the areas that some of the funds have been channeled to.

Steve Horsford promoting Grenada

BF: How successful is the CBI Programme based on your corporate targets? SH: The corporate targets were never an issue but yes, we do have projections. We don’t always make these projections because of our emphasis on what we value most – the security and integrity of the process. Whereas we have several applications coming in, we have turned down very many because our due diligence and the integrity of the jurisdiction take precedence over anything else. These decisions of course negatively affect the OECSBusinessFocus Jan / Mar |

FEATURE

Silver Sands Hotel on Grand Anse Beach BF: In your experience in dealing with the investors that have come through the system to date, what are the major industries of attraction? SH: Tourism is the major investment sector, because our room stock is climbing very well. People donâ&#x20AC;&#x2122;t know it but the Silver Sands Hotel is a CBI project. There are about 10-15 other 5-Star hotel projects that are taking place. We lost some due to flaws found in the compliance process and sometimes this does not auger well with the public, but the Government makes those decisions based on what is presented. It causes the new investors to be cautious with the kinds of promises they make. Other major sectors of investment interest include Agriculture and Fisheries, with the former poised to receive tremendous capital injection over the coming years. At least one Fisheries project is already in the pipeline.

people need and what wealth does is give you freedom and as long as there are wealthy people in the world, this programme is going to be part of it. On the other hand, as long as there are problematic regions in the world, the people with the means to find a safer haven will keep the project alive for years to come.

BF: Is Green Energy an area available under the CBI development profile? SH: Green energy is very much a part of our CBI development profile. As a matter of fact, one of our already licensed CBI Programmes relates to Solar Energy. The difficulty we have had with that programme is due to a law that required the Grenada Electricity Serviceâ&#x20AC;&#x2122;s approval, but this has since changed. With our marketing efforts over the past few months, we have been getting quite a bit of interest in this and other sectors. BF: What is your vision for the CBI Programme for the next ten years? How do you see it moving forward? SH: My vision for the programme is tied to that of the Parliament of Grenada, which is to stimulate the economy. That is the vision and purpose of the programme. To say that I think anything different would be deviating from what the country dictates. It is my intention to focus on the integrity of the programme because I believe, by any large, that is going to be the success of it. I believe this is something that is sustainable. Freedom is something that OECSBusinessFocus Jan / Mar |

Mount Cinnamon www.oecsbusinessfocus.com

BF: How much of a campaign have you executed to sensitise the Grenadian people of the benefits of the CBI Programme? SH: I believe the public is ready to accept that this project is a way of financing some of government’s initiatives. My not being in the forefront and making statements about it is deliberate. I have a role to play and it cannot be seen by anyone as being tainted – for that reason I have stayed out of the limelight and allowed the people who have the mandate to publicise it to do their job. BF: How has the leadership of the CBI Programme changed the life of SH? SH: I have learned an awful lot about people and I have also learnt to remove myself from situations. I have learnt and understand the whole issue of collective responsibility. Being able to contribute to a country in a way that a CBI Director can, it gives you a chance to understand what can be accomplished with the proper safeguards. I have gotten an education on the political element, an understanding of the regulatory aspects of things, and the opportunity to see how I can better serve people by what I do. BF: What legacy would you like to leave behind, having been the face of this CBI Programme since its relaunch? SH: The integrity of the programme. Even if we don’t make the money, the programme has to remain untainted. It is what the political directorate and the electorate would want. It is what I subscribe to. And if I’m able to put the structures and systems in place to diffuse any of the things that would bring the programme into disrepute, I think I would be doing quite well. The integrity of this programme and of this office is important to me and our country. ¤

Mariposa Residences

Grenada Sustainable Aquaculture Ltd

Port Louis Marina OECSBusinessFocus Jan / Mar |

FEATURE Grenada Financial Complex

Government Presents EC$1.1 Billion Budget for 2017

resented under the theme, “Moving Together and Delivering Results”, the 2017 Budget of EC$1.1 Billion was presented on Wednesday 7th December to the Parliament of Grenada by Prime Minister Dr. Keith Mitchell in his capacity as Minister of Finance. In his Budget presentation before a Joint sitting of the House of Representatives, Prime Minister Dr. Mitchell highlighted seven top priority areas for his ruling New National Party (NNP) Government for the year 2017. The Budget has allocated: • $456 million for Debt Servicing • $102.1 million for the Ministry of Education and Human Resource Development • $75.7 million for Ministry of Health ($12 million more than 2015) • $72.1 million for the Ministry of Finance • $55.5 million for the Ministry of Works • $50.1 million for Pension and Gratuities. • $42.2 million for Agriculture and Fisheries Included in the allocations for Agriculture and Fisheries are $1 million for Debt Relief to Farmers and $500,000 for the Farm Labour Programme which will resume in 2017.

DR. THE RIGHT HON. KEITH MITCHELL PRIME MINISTER OF GRENADA

Maintenance, $7 million for Road Maintenance Programmes, and $5 million for Concrete Works. An amount of $7 million is allocated for the execution of Special Projects and $5 million for the Construction and Refurbishment of Government Buildings.

In addition, $27.4 million is allocated for Tourism and Culture and that figure includes $8 million for Airlift.

PM Mitchell used the budget presentation to update the country on Government’s debt to the NIS. According to the Prime Minister, when the NNP Government came into office in February 2013, Government’s debts to NIS was $24.2 million and at the end of October 2015 it was reduced to $20.1 million.

Prime Minister Mitchell announced that $291.6 million is being budgeted for Government Capital Programmes with a $10.1 million allocation for the Construction of the new Parliament Building, $5.5 million for Road Rehabilitation and

“In addition, Mr. Speaker, the Government has paid contributions to the NIS every month for the last 33 months of my Government and to date has paid $68.8 million in cash, since we returned to office in 2013,” PM Mitchell told Parliament. ¤

OECSBusinessFocus Jan / Mar |

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CDB Approves USD10 mn Loan to Grenada To Build Growth and Resilience in the Grenadian Economy

Caribbean Development Bank’s (CDB) President, Dr. Warren Smith (right) and Dr. Justin Ram, Director of Economics

CDB Approves USD10 mn Loan to Grenada To Build Growth and Resilience in the Grenadian Economy

he Board of Directors of the Caribbean Development Bank (CDB) has approved a USD10 million (mn) policybased loan to further build growth and resilience in the Grenadian economy. It is the final of three such loans from CDB to the Government of Grenada, designed to support the country’s 36-month, home-grown structural adjustment programme. “CDB commends the Government of Grenada on its efforts to implement a comprehensive reform programme to restore fiscal and debt sustainability, build resilience and improve competitiveness. We are pleased to continue our support to Grenada as it works towards accelerating progress on poverty reduction through sustainable economic growth and job creation,” said Dr. Justin Ram, Director of Economics, CDB. The policy-based loan supports the Government of Grenada’s ongoing implementation of policy and institutional reforms. It focuses on three main themes: 1. Improving investment climate and competitiveness; 2. Improving public resource management; and 3. Enhancing resilience against natural disasters and key elements of resilience in the Banking Sector.

The loan supports reforms the Government of Grenada implemented in the second half of 2015 and first half of 2016. These reforms build on the progress the country achieved under

the first and second policy-based loans, which were approved in July 2014 and October 2015, respectively. Several fiscal and structural reforms implemented since 2014, coupled with the restructuring of external commercial debt and domestic debt, have contributed to a marked improvement in Grenada’s economic and fiscal situation, relative to the 2011 to 2013 period. In 2015, the Grenadian economy grew 6.2 percent, making it the fastest growing of CDB’s 19 Borrowing Member Countries. ¤ About the Caribbean Development Bank The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs). In addition to the 19 BMCs, CDB’s membership includes four regional nonborrowing members – Brazil, Colombia, Mexico and Venezuela and five non-regional, non-borrowing members; i.e., Canada, China, Germany, Italy, and the United Kingdom. CDB’s total assets as at December 31, 2015 are USD2.7 billion (bn). These include USD1.4bn of Ordinary Capital Resources and USD1.3bn of Special Funds. The Bank is rated Aa1 Stable with Moody’s and AA/A-1+ with Standard and Poor’s. Read more at caribank. org. OECSBusinessFocus Jan / Mar |

FEATURE

Grenada’s Economic Prosperity: Moving Ahead And Lessons For The Wider OECS Economic Union

Grenada’s Economic Prosperity:

Moving Ahead And Lessons For The Wider OECS Economic Union By Clarence Henry Programme Officer for Regional Integration, OECS Commission

review of Grenada’s growth performance for the past 35 years and during the post-independence era has been encouraging. In comparison to other Caribbean and OECS economies, economic growth performance in the ‘Spice Isle’ has been relatively stable. Although average economic growth for the independent OECS economies declined by 2.45 percentage points between the periods 1980-1994 and 1995-2015, with significant declines for Saint Lucia, Antigua and Barbuda and Dominica, Grenada experienced the slowest downturn in average economic growth over the period. Grenada along with other OECS economies has also experienced growth in average GDP per capita income between the periods 1980 – 1994 and 1995 – 2015, although average growth in GDP per capita income was higher in the pre-trade liberalisation era of the 1980s and early 1990s when compared with the late 1990s onwards, a period that defines the trade liberalization era (see figures below). Furthermore, in 2015 Grenada achieved an economic growth rate of 5.1%, one of the highest growth rates in the OECS for 2015, suggesting that the economy has recovered from the 2008 Global Financial Crisis. Grenada, along with the Member States of the Eastern Caribbean Currency Union (ECCU), has also experienced stable and low inflation rates over the last two decades. Relatively low inflation rate has been one of the hallmarks of the ECCU arrangement. There is a plethora of explanatories that point to Grenada’s current positive economic performance. Also, Grenada’s experience provides lessons that could go a long way in improving the overall business environment within the OECS Economic Union Area. During the post-independence era, Grenada achieved some degree of economic diversification. Arthur Lewis’ “Industrialization of

OECSBusinessFocus Jan / Mar |

% Change in Average GDP Growth (1980 - 2015)

Caribbean Small States 1.62 Barbados 1.29 The Bahamas 0.42 -3

-2

-1

-2.45 OECS -2.09 Jamaica - 0.96 Grenada

www.oecsbusinessfocus.com

the British West Indies (1950)” forwarded an economic growth and development agenda for the Caribbean islands based on economic diversification and Foreign Direct Investment (FDI). This development mode has been supported by other Caribbean economists during the post-independence era during the 1960s and 1970s. In the OECS, despite efforts at encouraging economic diversification, many economies are still largely dependent on a narrow group of economic activities. However, Grenada stands out as one of the more diversified economies in the OECS. Grenada’s economic activity for 2015 suggests that the agricultural sector has continued to assume a less dominant role in domestic economic activity and new sectors such as education, hotels and restaurants and banking have emerged. Limited dependence on one or a few export activities ensured that the trade liberalisation period, which negatively affected major economic sectors such as banana and sugar exports, did not significantly weaken economic growth performance in Grenada. While natural disasters such as Hurricane Ivan in 2004 and the Global Financial Crisis of 2008 have negatively impacted economic growth and development, Grenada’s efforts at economic diversification have allowed for a more balanced economic growth experience. Essentially, a more diversified economic base is good for overall business development. A more diversified economy allows for greater opportunities for creating employment and improving incomes, thus, reducing the demands on the public purse. More specifically, for businesses in the OECS Economic Union Area, it means greater opportunities for business linkages, intra-regional trade and growth in business profits in the long-term. Grenada’s growth in the education sector is one of the outcomes of their economic diversification efforts. This sector has witnessed significant growth since the establishment of the St. George’s University complex in Grenada. Today, the education sector in Grenada accounts for 18.46% of GDP and nearly 8% of total employment. The growth in the Grenada’s education sector and the continuation of government support for national training has led to the attainment of relatively high tertiary level enrollment. According to The Economist (2015), Grenada has one of the highest enrollments in tertiary education at 52.8% and this rate surpasses the world average of 32%. Further growth in tertiary education attainment will be good for the OECS Economic Union. One of the challenges facing the OECS economies is access to a quality labour force. Studies by Compete Caribbean have found that many OECS economies experience a mismatch in skills demanded and skills available and that most of the labour force has secondary level education or less. This cannot be good for business development in the OECS. Improving competitiveness in the global economy requires a more educated, soft skilled based labour force. Thus, the current efforts to investment in higher education in Grenada will help improve global competitiveness of businesses both in Grenada and the wider OECS Economic Union.

on private sector development, particularly through business financing and development plan support. Moreover, improving the Ease of Doing Business in Grenada will go a long way in enhancing the business and investment climate, reducing unemployment and improving economic growth in the long-term. In the 2016 Ease of Doing Business, published by the World Bank, Grenada is ranked 138 out of 189 countries. In particular, the challenges facing Grenada’s private sector growth include: registering property; getting credit; paying taxes; trading across borders and resolving insolvency. These are challenges that also affect the wider OECS Economic Union Area. The government of Grenada is currently taking steps to address these challenges through efforts that are aimed at improving the regulatory environment, creating more access for business financing and encouraging more foreign direct investment flows. Grenada’s efforts at economic diversification, encouraging tertiary education, supporting private sector development and improving the macroeconomic environment are essential for promoting sustainable economic growth and development in the long-term. Moreover, these efforts are the principle economic measures that are needed across the OECS to shift these economies towards high growth performance. These measures will ensure that the OECS Economic Union Area, when it is fully operational, will be a vibrant and robust Single and Financial Economic Space. A robust OECS Economic Union Area will be good for business given access to a larger market and bigger pool of labour. Further, it is also important to allow for the attainment of the objectives articulated in Article 2 of the Protocol of Eastern Caribbean Economic Union such as enhanced economic growth and development and greater intersectoral linkages. ¤

Grenada’s economic development and economic growth prospects in the twenty-first century will continue to improve given efforts to address possible economic risks. Grenada is one of the highest indebted Member States in the ECCU and the national unemployment rate is above 30%. Public debt stock in Grenada stands at EC$ 2.7 billion and public debt to GDP ratio at 103.6% in 2015. High public debt levels in Grenada and the wider ECCU will weaken growth in the private sector in the OECS Economic Union, particularly due to concerns over higher taxation levels and lower public sector investments. In his 2016 Budget Address, Prime Minister Dr. Keith Mitchell addressed efforts at reducing public debt levels through a debt restructuring effort. The Grenada government is also seeking to reverse the trend in the unemployment rate by focusing OECSBusinessFocus Jan / Mar |

FEATURE

Opportunities For Agricultural Diversification In Grenada (Part 1)

Opportunities For Agricultural Diversification In Grenada (Part 1) By: Brian Francis, PH.D, Director, Economic Affairs & Regional Integration OECS Commission DIVERSIFICATION AS AN IMPORTANT DEFENSIVE MEASURE: Grenada, with only 133 square miles of territory, is a prime example of a Small Island Developing State or SIDS for short. This means that Grenada’s economy, along with the economies of other SIDS, is highly vulnerable in a number of key respects. Vulnerability to natural disasters such as Hurricane Ivan’s devastation of Grenada in 2004 is generally appreciated. Often neglected from active consideration, especially by the public at large, are two other dangers: agricultural pests, which can wipe out entire crops; and extreme variability in global prices for agricultural products. These factors combined suggest that diversification of Grenada’s agricultural industry has to be seen as a defensive measure.

Consequently, lucrative markets for Grenada’s fruits in nearby Trinidad and Tobago and a growing market for same in the United States of America came to a screeching halt. What is the significance of these and so many other cases of pest infestation to the issue of agricultural diversification? Agricultural diversification prevents the sudden, wholesale destruction of rural

THE IMPACT OF PESTS Grenada, many years ago, had to change the specie of banana it produced for export to Britain because of pest-infestation and destruction of its banana crop. This took time and money and resulted in substantial loss of farmers’ income and the country’s foreign exchange earnings. Jamaica, and several other countries, lost a great deal of their coconuts in the late sixties and seventies because of lethal yellowing and red ring diseases. Dwarf coconuts were introduced into several islands to deal with this threat. In just the past two months, Jamaica has discovered a deadly disease wiping out cocoa fields which have so far been infected with it. Given the importance of cocoa in Grenada’s agriculture, this alarming development needs close watching and significant research and development attention. Perhaps the example freshest in the minds of Grenadians with regard to the destruction of agricultural output by a pest is what happened when the mealy bug attached itself to all local fruits. OECSBusinessFocus Jan / Mar |

Dr. Brian Francis is a former Permanent Secretary in the Prime Minister’s Ministry, Grenada, with responsibility for Project Development and Human Resources. He also worked as the Chief/ Senior Research Officer in the Ministry of Tourism, Barbados; an Economist at the Eastern Caribbean Central Bank; and as a Senior Lecturer in the Department of Economics at the UWI, Cave Hill Campus since 2004. he is currently Director of the Economic Affairs and Regional Integration Division at the OECS Commission www.oecsbusinessfocus.com

incomes, rural development, and rural employment opportunities, not to mention the effects on national income, foreign exchange savings and earnings, and on government revenues; should one, or even two, of a country’s agricultural crops face destruction from a pest. Because pests are usually crop-specific, it means that the destruction of one crop by pests can occur while not affecting other crops grown in the same area. Indeed, both crop rotation and crop inter-planting are frequently used by farmers in many countries as a means of mitigating the effect of pests without using pesticides, or significantly reducing on their use. WORLD-PRICES VOLATILITY: GRENADA’S DEPENDENCE ON DEVELOPMENTS IN OTHER COUNTRIES A problem faced by all countries reliant totally, or heavily, on agricultural exports, as most SIDS have been and still are, is the considerable volatility in the world prices for virtually all agricultural commodities. This affects a country’s ability to achieve and maintain fiscal balance, to plan, to pay for major projects under construction, to finance its national debt in some years; not to mention its immediate effects on farming communities and on commerce, generally, in a small or micro economy. Should any factor whatsoever, be it political, industrial or social unrest; climactic factors, pest-related developments, or anything else, cause a significant shortfall in the production of Indonesian nutmegs, Grenadian farmers and the Grenadian economy immediately receive a boost because of a surge in world nutmeg prices caused by Indonesia’s nutmeg production shortfall. Equally, should Indonesia’s nutmeg production substantially exceed that of its previous year’s supply, Grenada’s farmers and the Grenadian economy receive an unpleasant “hit”—an economic downturn. This example above with nutmegs can be seen also in the case of Cocoa. Should one of West Africa’s major cocoa producers, say, the Ivory Coast, experience a major shortfall in output for any reason whatsoever, the Grenadian economy feels the effect in greater income immediately through a positive change in the world price of cocoa. The opposite occurs, of course, when a bumper crop is produced in one or more of West Africa’s major cocoa producers. DIVERSIFICATION MEANS CROPS PRODUCED, PROCESSING (UP THE VALUE-CHAIN), CONTROL OF MARKETING, INCLUDING DIVERSIFICATION OF MARKETS CATERED FOR At the operational level, agricultural diversification means variations in the crops produced and in the processing of them as far up the value-chain as possible, plus the elimination of middlemen in the marketing of these many products. These are indeed all key elements in any strategy of diversification aimed at maximizing and stabilizing income from agriculture in Grenada, and for the mitigation of the many negative consequences from the possibilities described earlier.

scale, for the agricultural commodities which Grenada can offer in the years ahead. What is the basis for these expanding opportunities? There are several factors at work in converting these ideas into real opportunities: (a) World population growth is one. While the rate of population growth has slowed in recent decades, there continues to be growth in the absolute number of mouths to feed. (b) Growth in incomes in most of the world, and especially in huge markets such as China and India. There are now hundreds of millions of people in each of these two countries who have joined the ranks of the middle-class, with thus more income to spend, including on agricultural delicacies and exotic products such as those Grenada can offer. (c) Desertification in several countries (many parts of Africa are dramatic examples of this) caused by the cutting down of forests, climate change, and the growing loss of arable land for cultivation for other reasons also, have created conditions which could see, shortly, growing shortages in food output in many parts of the world. (d) The growing trend (especially involving US agribusinesses) towards alienating land from the production of food for humans to use for the production of animal feed. (e) The trend, also, to use increasing acreages producing wheat and corn for the production of fuel for motor vehicles instead of their use in producing wheat and corn flour (and other products) for human consumption. What all the above has in common is the effect on global demand and/or supply of agricultural commodities for use by most of the world’s population. The combination of these and other factors creates growing opportunities for modernized and diversified agriculture in Grenada. These opportunities for Grenada, however, require changes in policies and practices, if the country is to maximise its opportunities. ¤ TO BE CONTINUED IN THE NEXT ISSUE OF OECS BUSINESS FOCUS

Antillean Group

POSITIVE REASONS FOR AGRICULTURAL DIVERSIFICATION IN GRENADA Grenada now has the potential to greatly increase its output of fruits and vegetables in the context of growing regional and global demand for these commodities. Its production of Minor Spices can also be expanded for the same reason. These activities can take place simultaneously with a strategy of systematically moving the production of its nutmegs/mace and cocoa up the value-change, as mentioned earlier. In assessing Grenada’s future with agricultural diversification, it is not sufficient to explore only the defensive reasons for pursuing such a policy; that is, doing it for protection against destruction of any one or two of its crops by pests, and/or having to cope with falls in the world price for its principal crop, and the devastating effect this can have on farmers, rural communities, and the country as a whole from the sudden collapse of the price of its main export crop. We need to see the genuinely expanding opportunities, on a global OECSBusinessFocus Jan / Mar |

FEATURE

Grenada Industrial Development Corporation Facilitating, Supporting and Strengthening Business Investment

Grenada Industrial Development Corporation

Facilitating, Supporting and Strengthening Business Investment

he Grenada Industrial Development Corporation (GIDC) celebrated its 30th anniversary in 2015, having been established by the Government of Grenada on March 1, 1985 as a statutory body to stimulate, facilitate and encourage the establishment and development of industry. GIDC has evolved since its inception when it mainly granted concessions, to now being an economic development entity, impacting the lives of Grenadians through its core activities. These include Investment Promotion, Investment Facilitation and Business Support Services. The GIDC also owns three Business Parks and rents facilities to businesses ranging from manufacturing to Business Process Outsourcing (BPO). GIDCâ&#x20AC;&#x2122;s mission is to strive to contribute to Grenadaâ&#x20AC;&#x2122;s socioeconomic development by: Adopting a targeting approach in promoting investment opportunities, providing superior investor facilitation and entrepreneurial development services, and advocating for a supportive enabling environment for investors to develop and grow business, trade and industries. Its overall strategic goal is to promote local and foreign investment as well as facilitate and strengthen entrepreneurial development within the growth sectors of Grenadaâ&#x20AC;&#x2122;s economy. Its vision is to be a highly ranked corporation globally, exceeding the expectations of those served. The Business Park facilities of the Grenada Industrial Development Corporation (GIDC) continue to be a location of choice for

OECSBusinessFocus Jan / Mar |

Chairman and Chief Executive Officer of C&C Grenadines, Dr. Christofer Ashby and Implementation Minister Alexander Otway-Noel turn the sod to signal the start of the project www.oecsbusinessfocus.com

entrepreneurs to develop and grow businesses. Affordable space for manufacturing, warehousing and office service operations are available within its three (3) parks at Frequente in St. George’s, Seamoon in St. Andrew and St. Patrick. Employing in excess of 1,350 persons, the current 55 enterprises operating within the parks all have access to excellent electricity supply, sound broad band connectivity, security, landscaped grounds and a host of other common facilities which enable effective business operations. The newest addition to the Frequente Park – is its Container Parking facility - allows persons to store 20 foot and 40 foot containers for various time durations

Business Process Outsourcing Shared Services Provision of support services to all SBU’s: Finance, Human Resources, Communication, Information Systems & Technology, Administration, Research and Legal Contact the GIDC and we will open the doors to a world of local opportunities and facilitate and support the smooth establishment and operations of your business investment.

Agriculture and Agro Processing

For more information: Grenada Industrial Development Corporation email: invest@grenadaidc.com Tel: 473 444-1033 – 35. ¤

at very attractive rates. This facility has also been instrumental in assisting entrepreneurs fulfill their need for storage space. One of the largest tenants within the Frequente Park is Clear Harbor LLC - a US based company. Through a partnership formed in 2007, it commenced operations first from a 10,700 sq. ft facility. Eight (8) years later, the GIDC company has grown to operate from 36,000 sq. ft of space and now employs 640 persons. Clear Harbor LLC provides customer care and business process outsourcing services to clients outside of Grenada.

Investing or Returning to Grenada?

As GIDC continues to promote local and foreign investment as well as facilitate and strengthen entrepreneurial development in Grenada, the business park facilities continue to play a pivotal role in that process. Business Unit / Main Areas of Responsibilities are: Investment Promotion Investment promotion; image building; investment generation, facilitation of the investment process; monitoring of concession enterprises, investor-focused aftercare services. Business Development Foster a spirit of entrepreneurship, generate start-ups, and increase competitiveness of existing micro, small and medium sized enterprises (MSMEs) and advocate for policy changes in the enabling environment. Facilities Management of facilities in three business parks.

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FEATURE

PURE GRENADA: Peaceful, Unspoilt, Rejuvenating, Enchanting

he three islands of Grenada are gems in the Caribbean Sea, hugged by white and black sand beaches, painted with lush green landscapes, and animated by the friendliest people on Earth. A trip to Grenada, Carriacou, and Petite Martinique is easy-going and laid back, as said by the 400,000 persons who visit every year. The destination brand, Pure Grenada – the Spice of the Caribbean is a geotourism-positioning that launched a marketing thrust into the nation’s major source markets – the United States of America, the United Kingdom, Canada, the Caribbean and Germany. Pure packages Grenada as a geotourism destination where cultural preservation and environmental sustainability are at the pinnacle of destination management and marketing. The geographic character of the three islands are sustained and enhanced for the social, cultural and economic benefit of Grenadians. Tourism is the backbone of this economy, as the single largest foreign exchange earner that contributes 25% to the gross domestic product (GDP) and creates 11,000 jobs for this population of 100,000.

25 Wonders of the World by National Geographic. The Grenada Underwater Sculpture Park at Molinière Bay is a manmade reef filled with life-size sculptures like the Ring of Children, the Christ of the Deep, and the Nutmeg Princess. Grenada is also the first Caribbean country to complete a Blue Growth master plan and launch a Blue Growth Institute aimed at environmental and economic sustainability in the marine sectors to create jobs, increase income, and improve food security. The World Bank and the OECS are currently using this example as a benchmark for its implementation in other Caribbean island states.

Pure Grenada transcends into the way the public and private sectors preserve natural habitats, their flora and fauna. The Grand Ètang National Park & Forest Reserve is the only home to the Mona Monkey in the Western Hemisphere and is the largest portion of the two-fifths of landmass dedicated to forest reserve, national parks and sanctuaries. There are already 3 declared marine protected areas in the tri-island state, one of which includes the World’s First Underwater Sculpture Park named among the OECSBusinessFocus Jan / Mar |

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Pure Grenada is the Spice capital of the Caribbean, being among the top exporters of nutmeg in the world and a producer of clove, cinnamon, mace, ginger, vanilla, bay leaf, turmeric and other spices used in food, medicines, and beauty products. The mainland is home to 3 rum factories that distill and blend award-winning spirits like Clarke’s Court’s Black Gold and Special Dark & Westerhall Rums’10 degrees Rum and Plantation Rum. The River Antoine Rum Distillery converts raw organic sugarcane into signature rum using a cane crusher powered by the only working 18th centurywaterwheel in the Western Hemisphere. Local organic produce can excite those with a sweet tooth. Grenada boasts at least 3 chocolate brands that are made with locally-grown cocoa, with 2 of these based on the mainland at the Grenada Chocolate Company Limited near Belmont Estate and Jouvay Chocolate at the Diamond Chocolate Factory. Even the honey produced in Grenada receives top awards. In 2015 and 2016, the rich honey produced by beekeepers at Eden Apiaries won a gold medal for best honey in the world outside of the British Isles. Grenadians love deep soulful rhythms and tasty satisfying meals and celebrate these in annual food and music festivals. There are 2 annual carnival celebrations: Carriacou Carnival occurs during the pre-Lenten period on the island of Carriacou well known for its unique Shakespeare Mas, and Spicemas climaxes on the second Monday and Tuesday of August with its signature J’ouvert and Monday Night Mas. Traditional culture and food are also on display at the Carriacou Maroon String band Festival, Parang Festival, Grenada Chocolate Festival, and the Pure Grenada Music Festival. The annual Spice Island Billfish Tournament, Grenada Sailing Week, Grenada Sailing Festival Workboat Regatta, Carriacou Regatta, and the Petite Martinique Whitsuntide Regatta all showcase the seafaring and boatbuilding cultures present in this nation. There is always a reason to visit. Diving is out of this world with colourful coral reefs, a playground for turtles, stingrays, and sharks, and with the largest wreck dive in the Caribbean the Bianca C. The stage is set for intoxicating romance with sunset sails, secluded beaches, and moonlit skies. Adventures in the rainforest include hiking to towering peaks, tubing down a river, manoeuvring bumpy trails with a dune buggy, and biking along the beautiful vistas. The tranquil bays are ideal for paddle boarding, kayaking, fly boarding, snorkelling and simply relaxing on the powdery sand. The unique history of British, French, African, and Amerindian influences make Grenada a very diverse and interesting nation. Adventures await in Pure Grenada, the Spice of the Caribbean. ¤

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PURE GRENADA

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www.oecsbusinessfocus.com

OECSBusinessFocus Jan / Mar |

FEATURE

Technical Assistance in Community-Based Technical Assistance in Tourism to St. Andrew’s Development Organisation, Grenada Tourism toCommunity-Based St. Andrew’s Development Organisation, Grenada By: Dr. Lorraine Nicholas - Tourism Specialist, Economic Development Policy Unit Background Measuring 35 square miles, St. Andrews is by any measure the largest parish on the island of Grenada. Centrally positioned, St. Andrews is also the only parish that borders all others and is home to a total of about 25,000 residents. Grenville, the main centre of the parish, is the island’s second largest town, second only to the capital of St. George’s. Also known as La Baye, Grenville has a deeply rooted French heritage, reflected in some of its district names such as Marquis, the first parish capital under French rule in the mid-1790’s, which has transitioned today to a small and quiet community just south of Grenville, predominantly known for its craft and fishing heritage. St. Andrew’s central location makes it a lush and mountainous community, with a rich history of economic activity within the agriculture and fishing sectors. St. Andrew has traditionally been a vital producer of cocoa and is home to, arguably the world’s largest producer of nutmeg, the Noel family. Mr. Denis Noel, former Grenadian Ambassador to the USA, still resides on the family property in St. Andrew from which he manages the well-known Nut-Med pain relief spray and cream company. The Grenada Cocoa Association also manages a storage facility in Grand Bras next to the Noel family residence. A number of hiking trails within the Grand Etang National Park are within easy reach of St Andrews and there is an expansive river that runs from the Park into the parish. In light of the rich natural, cultural and historical resources in St. Andrew, there exists tremendous potential for the development of community-based agro-tourism and nature-based tourism products and services that could, in time, deliver additional diversity to the island’s tourism product mix. Notwithstanding this potential, however, there is limited organised tourism activity within the St. Andrew community compared to other parishes within the country. It is to this end that the OECS agreed to provide technical assistance to the St. Andrew’s Development Organisation (SADO) to develop community-based tourism. The SADO was established in 1984 and officially registered in 1985 with a stated mission of “Towards Greater Participation for Community Development.” The main focus of activities for the Organisation is the annual Rainbow City Festival that coincides with the Emancipation Day celebrations on August 1st. This popular, long-standing festival is an important event on the annual calendar, not just for the parish of St. Andrew but all of Grenada. The Festival, named for the rainbows that are often seen in the sky over the town, runs from August 1-6 annually with celebrations that include: arts and craft, village tours, food, music, and dancing. With local arts and craft on display, and tours being offered of scenic sites in the parish, the Rainbow City Festival is a fantastic location to lime (party) the day away. More specifically, activities include: drumming, fish and cassava dishes, a farmer’s market, and an exhibition and cultural display, culminating on Emancipation Day with the Emancipation March and Music Festival.

OECSBusinessFocus Jan / Mar |

Community group on site visit to Mt. Carmel Waterfall Participants attending the OECS workshop, however, acknowledged that the Festival and the Organisation (SADO) have lost momentum in recent years and would therefore benefit from a new injection of focus and direction to drive a reinvigoration of the entity. This training in community-based tourism organised by the OECS Commission was therefore deemed very useful in revitalising and providing much needed direction to SADO, its membership and stakeholders, through identifying new livelihood opportunities that community-based tourism offers. In addition, it is hoped that traditional arts, craft, performances and music might be further sustained and enhanced through community-based tourism products.

Dr Lorraine Nicholas holds a BSc. in Tourism Management and an MSc. in Tourism and Hospitality Management from the University of the West Indies. She is a Fulbright Scholar with a PhD. in Tourism Management from the University of Florida. She is the Tourism Specialist, in the Economic Development Policy Unit at the OECS Commission. www.oecsbusinessfocus.com

Introduction Sixteen persons participated in the five-day workshop designed to increase participant understanding, confidence and capacity, to successfully and sustainably enter the tourism industry with a community-based tourism product. The structure and style of engagement of the training was mainly informal and deliberately designed to challenge the group, as much as possible, to come up with ideas that demonstrate common sense and lateral thinking that is necessary to demystify the issues and misconceptions associated with the development of a tourism business. This strategy was deliberately executed to ensure sustainable human capital development that reduces reliance upon external consultants and government support as much as possible. A traditional teacher/student, classroom training session was purposefully avoided as this tends to reinforce dependency and a sense of knowledge/expertise hierarchy. Workshop participants possessed limited direct experience working within the tourism industry. Notwithstanding, several persons indicated the desire to gain employment or start a tourism business in the future. The purpose of this intervention was to deliver training to participants to fill skill and knowledge gaps that presently hinder the viability of their existing or potential commercial tourism ventures. The aim was therefore to develop and enhance the human capital to improve technical self-sufficiency and thereby enhance resilience of the participants’ potential tourism initiatives to deliver economic and livelihood benefits. Workshop Deliverables The workshop comprised the following key activities: 1. Site Visits for Review and Critique of Viability of Potential Tourism Assets 2. Tourism Product Self-Assessment 3. Marketing Training 4. Tour Guiding and Interpretation Training 5. Development of a Community-Based Tourism Action Plan Some of the key sites visited and assessed during this intervention were: Royal Mt. Carmel Falls The Royal Mt. Carmel Falls, whilst still largely undiscovered and not yet visited by most Grenadians, is actually the highest waterfall on island at 70ft and offers tremendous potential as a communitybased tourism product in St. Andrew. Despite some issues identified during the assessment which require attention such as: the property being privately owned, littering in the vicinity of the site, muddy parts of the pathway which may be a bit precarious for visitors, there are many factors that bode well for the development of the Royal Mt. Carmel Falls as a premier tourist hot spot that include: • The site is relatively easily accessible (12 to 15 minute walk), • The area is quite vast with a reasonable carrying capacity and adequate space in the area below the falls to sit and enjoy the view and ambiance, • The falls can be bathed under relatively easily by crossing the stream and some rocks, • A community shop is located right at the entrance to the Falls which can provide refreshments to visitors; the shop is right on the main road, adjacent to a main intersection and bus stop. Rome Museum Rome Museum is another attraction with significant communitybased tourism potential in St Andrew. An elderly community resident, called Mr. Rome, manages the facility. Mr. Rome has spent years collecting and cataloging unique items used in the past, and exudes a very passionate and charismatic personality

Rome Museum in St. Andrew, Grenada when showcasing his extensive collection of historical artifacts. The exhibits are labelled and authentically presented in the courtyard of his property and within a small facility. He has expressed keen interest in increasing visitation by tourists (which is currently almost nonexistent) and is therefore in the process of developing a toilet area to improve his product. He therefore requires assistance to commercialise his venture and will benefit from being included within any community based tour. Exhibits are wide-ranging and include: phones (mobile and landlines); toilet, kitchen, irons, shoes, money, luggage, dishes, soft drinks, clocks, pots, pans, lamps, ovens, musical instruments etc. As it stands, the rustic authentic nature of the experience is a primary attraction. However, the items for specific interpretation can be finessed and over time a highly entertaining and educational experience can be developed, which would add a socio-cultural component to the community tour that would balance with the ecotourism focus of the Royal Mt. Carmel falls. Paradise Bridge Paradise Bridge is claimed to be the oldest bridge of its kind in the OECS region. This 200-year-old bridge was constructed in 1813. Whereas the bridge is listed on the Grenada Yellow Pages’ listing of attractions in St. Andrew, tourists appear to have little interest in just visiting the bridge as there is not much to see. In order to gain a true sense of appreciation for the bridge, the product would need to be enhanced to incorporate the river which the bridge serves and the inclusion of interpretation to furnish a rich and entertaining account of the history of the bridge. The participants undertook a practical assessment of the viability of the products, the outcome of which was the ranking of tourism assets for suitability to commercialise as follows: 1. Rome Museum 79% 2. Mt. Carmel Waterfall 72% 3. Paradise Bridge 70% Participants received certificates following the training and rated the intervention highly. They deemed it very useful for the future development of their community. Doris, who is one of the most experienced crafters in the St. Andrew community, also taught others attending the workshop how to produce craft. Doris reported that the training was very informative and broadened the way she viewed her craft business. “It really taught me to not just see craft as something I like to do, but see it as a business venture,” Doris said. ¤ OECSBusinessFocus Jan / Mar |

FEATURE

Grenada Airports Authority Piloting Grenada’s Future In Aviation And Tourism

Mrs. Wendy Francette-Williams CEO Grenada Airports Authority

Mr. Dwight Horsford

Chairman Grenada Airports Authority

Grenada Airports Authority

Piloting Grenada’s Future In Aviation And Tourism

he Grenada Airports Authority (GAA) is the single entity responsible for the management, control and supervision of the operations of the tri-island state’s three airports that include the territory’s principal gateway – Maurice Bishop International Airport and Pearls Airports in Grenada and the Lauriston Airport in Carriacou. The statutory organization was established in 1990 and today operates under a liberalized aviation policy with the support of the government of the day. Under the direction of CEO Wendy Francette-Williams, the GAA has been charged with the mandate to modernize, diversify and improve the services of the aviation sector in Grenada, Carriacou and Petite Martinique. In 2014, the GAA made history in commissioning its first Fixed Base Operator/Jet Center facility at Maurice Bishop International Airport, catering for business, general aviation services and airline first class and premium passengers. IAM Caribbean Inc., a leading silver business aviation handling and fuel services operator in the Caribbean, runs the facility. IAM

Jet Blue arrives at MBIA OECSBusinessFocus Jan / Mar |

operates in 24 airports across the region - including its flagship full service FBO facilities in Barbados, Montego Bay, Jamaica and now Grenada. The move was a key part of the Grenada Government’s plan to developing a world class tourism destination, and came as part of ongoing plans to further develop and modernize the MBIA. It is seen as a strong signal of the Airports Authority’s commitment to develop and improve the quality of customer service offered at MBIA through public/private partnership initiatives. Following this, the GAA announced the opening of its Executive Lounge Services with a pay-in lounge concept. This facility offers all travellers the comfort and convenience of an airport lounge regardless of class of travel or airline, with the common goal of enhancing the airport experience. The GAA Executive Lounge sits on the Upper Mezzanine Floor of the Departure Hall at Maurice Bishop International Airport (MBIA). It is a luxurious air-conditioned facility that caters for a maximum of thirty (30) guests.

FBO Jet Centre at MBIA www.oecsbusinessfocus.com

Moreover, just last November, the GAA went further to take its place with other, more developed Caribbean territories in the aviation sector with the commissioning of a new Aviation Training Center at the MBIA. This training facility is poised to serve as a platform to facilitate aviation and other relevant training for the industry in Grenada and the wider region and will not only be used for recurrent training programmes carried out by the GAA and its stakeholders, but will also be made available to the general public to host courses in partnership with the Authority. The vision here is to build a client base in preparation for the construction of a Grenada Aviation Academy. Vaughn Aeronautical College will commence their programmes by the first quarter of 2017 in areas of Aircraft Maintenance, Flight Dispatch Operations and Airport Operations.

Executive Lounge at MBIA

Should the GAA continue its modernization trajectory, the island of Grenada would realize an almost US$200 million boost, adding to its already booming economy thanks to an influx of tourism and approved Citizen by Investment (CBI) projects. Today, the GAA is looking at driving Grenada in the direction of becoming a pivotal hub in the Caribbean for Tourism, Cargo and Aviation Training. It is working to inculcate a pioneering and service-led culture in the aviation and tourism sector and has gotten involved with key stakeholders to aggressively market the island and its people as a happy, creative and empowered group. The ultimate result will see the GAA standing as the key catalyst in the enhancement and development of a brand that depicts the tri-island state as an inclusive, cohesive territory to live, study, work and visit. Â¤

Air Cargo Services at MBIA Airport

First Cohort of Trainees at New Aviation Training Centre OECSBusinessFocus Jan / Mar |

FEATURE

Maurice Bishop International Airport A Shining Star in the Future of Caribbean Aviation

hen we say the future of Caribbean Aviation looks bright we are by no means exaggerating as the Maurice Bishop International Airport (MBIA) in Grenada is being positioned to deliver way more than a typical Caribbean runway and terminal. The island, capitalizing on its growing international presence, has acknowledged aviation as not only an important economic driver on its own, but a part of the foundation for island and arguably region-wide economic growth. The sector is poised to develop on a macro scale. So much does the Grenada Government believe in this theory that it has enshrined it within its development roadmap. Among the strategy approaches is a liberalized aviation policy that will see the Grenada Airport Authority (GAA) sitting at the forefront of aviation development in a manner that allows for swift and effective reaction to the Caribbean and global marketplace. One of the key benefits of this new policy is the allowance for the GAA to make key and timely decisions on infrastructure investment that will allow for robust and long-term viability and skipping the time-consuming red tape called bureaucracy. One of these infrastructural developments is the much talked about modernization project at the MBIA in Point Salines, Grenada and the Lauriston Airport in sister-isle Carriacou. This is an estimated US$75 million undertaking between the two islands. Consideration has also been given to the development of a new airport to be developed at Dumfries in Carriacou with a stunning US$111 million price tag. By the end of the exercise, Grenada will boast a modern, diverse and generally improved aviation service sector. This will see the development of an integrated approach to terminal design and general infrastructure in the GAA’s quest to be multi-modal in its OECSBusinessFocus Jan / Mar |

future operations and for that the Authority is willing to partner with the private sector. Among the expected highlights of this integrated approach is a smart and sustainable aviation city in Grenada and Carriacou – a move that is expected to pilot the territory into a pivotal hub in the Caribbean for tourists, cargo facilitation and aviation training. The latter of these has already been realized with the launch of the Aviation Training Centre at the Maurice Bishop International Airport on November 29th, 2016. The GAA will partner initially with the Vaughn College of Aeronautics & Technology to commence courses in Aircraft Maintenance, Flight Dispatch Operations, Flight and Airport operations. The strategic intent of this move by the GAA is to build capacity before the construction of the Grenada Aviation Academy. When this aspect of the ambition is complete, it should reflect an investment tag of almost US$19 million. The preferred arrangement for the overall development is of course a Public Private Partnership (PPP) with a potential developer. Further, the aviation advancements in Grenada will look to inculcate a pioneering and service-led culture in the aviation and tourism sector, while also getting involved with stakeholders to aggressively market the destination as well as enhance and develop ‘Brand Grenada’. The GAA has recognized the need for a business-type approach to this macro-level venture that must move the airports from its breakeven approach to a compensatory or hybrid approach that will give the Authority entrepreneurial autonomy and eventually create a more rationalized approach to airport management. In this model, the private sector becomes a partner, in creating an environment where the airport increases economic activities and sustains profitability. ¤

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Maurice Bishop International Airport

OECSBusinessFocus Jan / Mar |

FEATURE GAA Eyes New Carriacou Airport For The Caribbean

Lauriston Airport Carriacou

GAA Eyes New Airport for Carriacou

US$111 million project proposed for Dumfries Location

hen we think of island nations like Grenada, Carriacou and Petite Martinique it is not uncommon for the smaller islands of the grouping to be lesser in focus when consideration is given to the overall economic development and potential of the country. Even in the area of aviation this is so, with Grenada – considering its size and population – naturally being home to the largest and most modern international airport. But what if such a facility could exist elsewhere? Well it seems the great minds that are the leadership of the Grenada Airport Authority (GAA) have been eying such a possibility in Carriacou – at Dumfries to be precise as part of their overall Aviation Development Master Plan. The US$111 million concept of the project could result in a multifold operation that begins with the utilization of an unoccupied section of the vast flat and spacious Dumfries community, perfectly positioned to accommodate an airstrip more than three times the length of what currently exists in Lauriston. This would mean a facility that accommodates aircrafts larger than LIAT’s ATRs, and could even support small jets and allow for night flights. This would certainly change the aviation landscape in Carriacou. But that is only the immediate effects of the airport facility. The Dumfries investment concept in its entirety – if realized – could not only increase airlift to the picturesque Carriacou with connections to other adjacent islands, but it could also result into additional investment opportunities like the construction of an airport hotel OECSBusinessFocus Jan / Mar |

and resort. The latter would present its own spin of economic and other opportunities there. This creates a kaleidoscope of growth and development potential that would undoubtedly improve the quality of life and economic activities for the people of Carriacou. In the grand scheme of things, there are also provisions for Medivac Services with the construction of a mini-health facility at the new airport. And the creation of a solar plant, a water treatment plant, fuel farm and cargo bond to further cement Carriacou’s footing as a self-contained mini-destination that could even provide services and support to other neighboring nations. Business Focus OECS has been informed that while a feasibility study for this project has not yet been conducted, it remains a strong part of the future plans of the GAA and by the time it comes to fruition the Authority is expected to have made sufficient inroads from the MBIA development to effectively pilot Dumfries. Between the execution of these projects though, the GAA has considered many other options that includes a potential concessionary arrangement with a private investor to manage and operate the Lauriston airport and possibly convert it into an FBO of sorts that cater to private jets. This move would certainly improve the quality of arrivals to the island and of course encourage the development of general aviation services. Options also exist for the development of new apartment complexes and hotels that could encourage investors or potential new Grenadian nationals looking to take advantage of the attractive Grenada Citizenship by Investment (CBI) programme.¤ www.oecsbusinessfocus.com

L to R; Mrs. Wendy Francette-Williams, CEO of the Maurice Bishop International Airport, Grenada; Hon. Clarice Modeste-Curwen, Grenada’s of Tourism & Civil Aviation; Mr. Caribbean Domenic Proscia, Vice President of Training, Vaughn College of Aeronautic GrenadaMinister Aviation Academy… For The Engineering, Aviation and Technology; and Mr. Mike St. Laurent, Airport Strategy and Marketing.

Grenada Aviation Academy…

For The Caribbean

o investment is too large when it comes to the education and development of a people. And that is the primary driver behind the introduction of the multi-million dollar Grenada Aviation Training Center at the Maurice Bishop International Airport (MBIA) that was commissioned in late November 2016. Launched by General Manager of the MBIA, Mrs. Wendy FrancetteWilliams, the facility forms part of an overall Grenada Aviation Academy, poised to be the one-stop-shop Aviation Academy for the Caribbean. In her opening remarks the General Manager said, “The development of our people and our employees would ensure continuity of our operations in a safe, secure and customer focused manner and of course keep up with the standards and recommended practices of the industry.”

In December 2015, a detailed feasibility study was conducted by the MMM Group, which cited an Aviation Academy in Grenada that could become a centre of excellence in the Caribbean. The study cited potential courses in Aviation Management, Security Management, Aircraft Maintenance and Design of Airframes, and a Flight School. The facility was also cited as having the potential to host recurrent training programmes in the aviation industry. This overall project is earmarked to use most of the existing facilities at the old Pearls Airport site. To realize this goal, the GAA has expressed a keen interest in exploring relationships with North American or European Aviation learning facilities that could see Grenada serving as a Caribbean campus for continued study or serve as a continued learning facility during winter programmes. ¤

The vision of the center reflects exactly that – a facility that will provide aviation training opportunities in the field of aviation for the people of Grenada, Carriacou, Petite Martinique and the wider region. The facility will offer in 2017 aviation courses in the areas of Aircraft Maintenance, Flight Dispatch Operations, Flight and Airport Operations and Tourism based courses. It will also serve as a General Flight School in partnership with the Eastern Caribbean Civil Aviation Authority (ECCAA), Vaughn Aeronautical College and relevant stakeholders of the industry. “This is the dawn of a new era when joint venture arrangements can be made with other aviation entities in the business such as ICAO, IATA, and ACI. They would be engaged to carry out the objectives and goals of this training facility. In February 2017, Amerijet Cargo Airline has promised to hand over an aircraft to the GAA.” This aircraft which was going to pasture will be utilized for training at our facility and for local school tours.

Aviation Training in Session OECSBusinessFocus Jan / Mar |

FEATURE

Grenada Ports Authority Enhancing Port Development For Global Appeal

iversifying the investment climate has proven to be both worthwhile and challenging for small island developing states (SIDS) and Grenada is no exception.

The tri-island state sits perfectly in the popular Grenadines channel – a prime route for yachters and sailing enthusiasts. So, it is at no surprise that the island examines possibilities of further expanding their scope for a greater share of this growing economic sector.

Moreover, the island territory also boasts investment improvements in its yachting sector with existing facilities developing and new ones either in the construction or planning phases.

Edward Lord, Administrative Officer of the almost 30-year-old Grenada Ports Authority believes his island is prepared now more than ever before to truly take its place in the Caribbean yachting and cruise industries. Holding the position as the fastest growing economy in the Caribbean, coupled with the destination’s increasing popularity on the global tourism stage, there is no challenge understanding Lorde’s enthusiasm. But Grenada’s ports are important for more than tourism and international trade, with a centuries-old network of domestic connectivity linking the mainland to sister islands Petite Martinique and Carriacou, which underline the territory’s mastery of port services at all levels. The island, known also as a paradise for yachtsmen, recorded an increase of 280,518 cruise passengers and more than 22,000 yachters in 2015, creeping its way into the ever-growing Caribbean cruise tourism market. The island’s overall arrivals for 2015 increased by a stunning 12.7 percent, jumping to 443,368 from 393,339 in 2014. Since the 1990s Grenada has worked assiduously to effectively position itself for both commercial and recreational marine traffic. Among the most significant advancements in this area is the ongoing expansion of the main commercial port at the Carenage in the capital city, St. George’s and the construction of an all-new Cruise Ship Terminal and complex on the western shore of the city. This was followed by the development of the Melville Street Cruise Terminal - opening a new chapter in Grenada’s port history with the island now having the facility to rival the best in the Caribbean. OECSBusinessFocus Jan / Mar |

The island’s maritime sector has always been a busy one with upward trends expected to continue with increased numbers of both commercial traffic with key longstanding shipping partners and cruise passengers. Grenada maintains the reputation as one of the safest places in the Caribbean for the annual hurricane season with boatyards that are widely used by yachts owners from around the world. In January 2017, Grenada will host its biggest regatta of the year – the Grenada Sailing Festival – featuring yachts from across the Caribbean, Europe and the United States. Following this is the increasingly popular Round-the-Island Easter sensation and the Carriacou Regatta thereafter in the summer. But it’s not all fun and games at Grenada’s Ports with its Ports Authority playing a significant role in the ongoing regional integration initiatives piloted by the OECS Commission and the CARICOM Secretariat, particularly as it relates to the single market and economy.¤ www.oecsbusinessfocus.com

Coyaba Beach Resort

Caribbean Agro Industries Ltd. Caribbean Agro Industries

OECSBusinessFocus Jan / Mar |

FEATURE FEATURE

Grenada Development Bank

Filling the Gaps of Economic Growth Grenada Development Bank Filling the Gaps of Economic Growth

o level of economic development will completely cater for every individual and scenario, but that is an accepted fact with the creative leadership of institutions like the Grenada Development Bank (GDB) – an institution that Managing Director, Mervyn Lord says truly fills the island’s economic gaps. Grenada’s economy sits as the fastest growing economy in the Caribbean. However, with the tremendous investments in tourism, to include Sandals Resorts and Silver Sands, arguably the two largest investment projects on the island in the last decade, there is still quite a bit to be done to tighten the economic gaps across the sectors. This is where the role of the GDB is vital. Mr. Lord says one of the most crucial strengths of the Bank is its ability to identify those who typically fall through the lending cracks of commercial banks. This is particularly interesting as it relates to small business startups and personal loans for often life-changing situations. With over 50 years in existence, the GDB has mastered the art of taking risks and living to tell the tale. The Managing Director says GDB is the only development bank in Grenada and its focus is on providing financing to the critical sectors of the economy particularly for farmers, manufacturing, industry, housing, education and even tourism. Education, previously commanded the largest part of the Bank’s portfolio, being the only financial institution at one point with an established student loan programme. Today, Education stands at 29 percent of the GDB’s loan portfolio, but Business and Mortgage financing are fast becoming the most significant sectors of its portfolio. OECSBusinessFocus Jan / Mar |

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“Basically, we finance greater risks than a commercial bank and that is one of the fundamental differences. We finance the gap in the economy so for many persons who cannot obtain financing from other financial intuitions, GDB will be the institution that they can go to,” Lord said. Agriculture, one of Grenada’s most vital industry, is filled with both established and up and coming farmers. To maintain the industry and provide support where necessary, the GDB recently joined hands with the Marketing and National Importing Board (MNIB). This partnership is just over one year old and sees the Bank and the MNIB tightening and stabilising the triangle of production, sales and payments. Since its establishment in 1965, Lord estimates that over 10,000 Grenadians have and continue to benefit from the GDB through Business, Education and Personal loans. In Small and Medium Enterprise (SME) Loans, Lord admits the GDB has had mixed results, particularly in the Tourism industry several years ago with defaulting loans for small hotels. This has since changed. “However, in recent times, we have seen an improvement with the Business loans including the Tourism sector. We are performing pretty well with these SMEs,” Lord said. He noted further that Agriculture and Fisheries, despite being key sectors of the economy, remain the most challenging to finance. Financial management training, he believes is one of the most critical needs of both sectors. For Agriculture, he adds, the need for insurance to guard against prevalent crop diseases and natural disasters like hurricanes and flooding, will follow closely. Applying for a loan with the Grenada Development Bank is easier than most might imagine. The Bank’s Managing Director said individuals interested in a Business loan, for example, need only gather and submit a few documents. These include a business plan, financials (if an existing business) and the relevant identification and general banking information.

the actual monthly required mortgage repayments. “What we have done particularly for the public servants who have more security and stability, is to provide 100 percent financing to them. We found many people who could make the monthly payments but simply could not come up with whatever that 10% deposit would be. By focusing on those gaps, we have been able to tap into these important areas. Our intention is to coin products that better meet the needs of the Grenadian people.” For the next 5 years and beyond, the GDB holds the vision to better connect with the Grenadian people so as to foster economic development. “We want to have a greater economic impact and we see it is possible if we connect, so we understand the needs of the people and we meet those needs. In fact, we are now in the process of compiling our next 5-year Strategic Plan and one of the things that we did was to have a stakeholders’ consultation where we met with stakeholders from all the critical sectors,” Lord told Business Focus OECS. The Grenada Development Bank boasts a special program for the island’s youth between the ages of 1835. This carries a 3 percent interest rate. There is also a small business loan program financing up to EC$25,000 with an interest rate of 6 percent. The Bank has seen “encouraging” interest from the youth population, the rural and vulnerable communities. ¤

Kalinago Beach Resort

“We require equity contribution of between 10 and 30 percent for the general business. It does not mean that it must be cash,” Lord said. The average turnaround time from application to approval is a mere 10 days if it does not require the GDB Board’s approval. Should the latter be a factor, then that maximum timeline increases three-fold. So far, for 2016, Lord boasts that the GBD has maintained its turnaround time for some 90 percent of loan applications. “We are big on ensuring that we meet that timeframe.” Speaking about mortgages, Lord said that while the island’s Credit Unions and Commercial Banks are doing considerably well in meeting the demands of this sector, there are several potential home owners who are left by the wayside due simply to their inability to meet the standard requirement of a 10 percent deposit. Often, he pointed out, these same individuals would have no trouble making

P.O. Box 58, Morne Rouge Bay, St. George’s, Grenada, West Indies Tel: 1 473 444 KALI (5254) or 5255/6 Reservations: kalinagobeach@spiceisle.com Web: www.kalinagobeachresort.com Find Us on Faceboook: Kalinago Beach Grenada OECSBusinessFocus Jan / Mar |

FEATURE FEATURE

T.A. Marryshow Community College

TAMCC Graduation 2016

T.A. Marryshow Community College

he T.A. Marryshow Community College (T.A.M.C.C.) is a publicly funded institution established to provide tertiary level training in the tri-island state of Grenada, Carriacou, and Petite Martinique. The College was established by the Government of Grenada on July 1, 1988, by a merger of a few institutions. As a national institution benefiting from public funding, the College is dedicated to expanding and enriching educational opportunities for all citizens to enhance the overall development of the nation. This financial structure supports the existence of low tuition, making it the most affordable in the Caribbean. T.A.M.C.C. programmes of study lead to Certificates, Associate Degrees and Baccalaureate Degrees. The programmes of the College are offered in three (3) Schools namely, the School of Arts, Sciences and Professional Studies (S.A.S.P.S.); the School of Applied Arts and Technology (S.A.A.T.); and the School of Continuing Education (S.C.E.). The T. A. Marryshow Community College has five campuses in different locations: four (4) on the mainland and one in Carriacou.

Hospitality Student Food Prep for Service

The College has a Department of Online Distance Learning, which is presently seeking to develop new and exciting programmes to add to its existing course offerings. The main library is found on the Tanteen campus; however, satellite libraries are located at every campus. Internet service and EBSCO research database are available to students. The College also has a Department of Teacher Education which offers teacher training and professional development at the Pre- primary, Primary & Secondary School levels in collaboration with the University of the West Indies (U.W.I.) and the Eastern Caribbean Joint Board of Teacher Education. Other professional programmes such as General Nursing, Law Procedures, Pharmacy, Media Studies and Social Work are offered. T.A.M.C.C. is the only College within the O.E.C.S. that offers the Pharmacy Programme. T.A.M.C.C has several highlighted Associate Degree Programmes OECSBusinessFocus Jan / Mar |

TAMCC Principal with Student Displaying Chinese Calligraphy www.oecsbusinessfocus.com

such as the Modern Languages Programme which offers dual opportunity to sit the CAPE examinations (Spanish and French) and complete an Associate Degree. Students can study four (4) foreign languages – Spanish, French, German and Chinese – with a communicative approach. Another programme of interest is the English Associate Degree Programme; it is functionally designed to facilitate student’s production of a portfolio and a written publication to include short stories, poems, drama, critical documentaries and essays. The T. A. Marryshow Community College has further strengthened some of its programmes through extensive collaborations with external universities such as the University of the Southern Caribbean (U. S. C.) to offer a 2+2 approach to learning and achieving higher level degrees and licenses. The College offers the first two years (Associate Degree in Nutrition and Dietetics) then students can seamlessly transfer to U.S.C. (University of Southern Caribbean) to complete a Bachelor’s Degree for two additional years. A further one-year Clinical internship is required to sit the Registered Dietitian Examination.

TAMCC Students at the Chinese Bridge Competition

Faculty are highly-qualified, and undergo training with the assistance of Dr. Nicholas Brathwaite, Jr.’s PETNA Foundation in collaboration with McMaster University to deliver exemplary instruction. The aim is to grow and develop T.A.M.C.C. into the Premier Regional College supported by a hospitable community, a safe environment and readily available housing. For further information, please email us at info@tamcc.edu. gd or you can call:1(473) 440-1389 or visit our website: http:// tamcc.edu.gd/.¤

TAMCC Farm at Mirabeau

T.A. Marryshow Community College

Convenient environment for learning Top lecturers in the Region Very supportive staff

OECSBusinessFocus Jan / Mar |

FEATURE

St. George’s University A Major Investor And Stakeholder In The Grenada Economy

St. George’s University

A Major Investor and Stakeholder in the Grenada Economy

stablished nearly 40 years ago, St. George’s University (SGU) is Grenada’s leading seat of higher education and one of the best-respected tertiary institutions in the Caribbean. It’s a true success story, with a dedicated team of professors that has trained one out of every 100 doctors working in the U.S. today. Renowned for its medical and veterinary doctoral programmes, the university also offers undergraduate degrees in disciplines including business management, humanities and social sciences. Affiliated with colleges in the U.S., Canada, the United Kingdom, Ireland and Australia, SGU has awarded over 15,000 degrees to graduates from 140 countries. In the last decade, it has handed out scholarships worth $90 million to Caribbean students. Its 42-acre campus houses 65 buildings, serving three faculties. According to Minister Oliver Joseph, SGU contributes 20% of Grenada’s GDP, a share set to remain strong as the number of students enrolled climbs every year. Two-thirds of its 5,000- plus medical students hail from the U.S., each paying close to a quartermillion dollars for a four-year degree. Students and Grenada’s government are not alone in appreciating the benefits of SGU. Last August, the school signed a $750 million deal with a group of private-equity investors, although the founders remain the largest single shareholder. Dr. Charles Modica, the University’s Chancellor, said the investment would help SGU expand its global reach. “I view the university as a grading indicator for other enterprises that want to come to Grenada,” Dr. Modica says. “You can trust the country, you can trust the government and you can trust its people. If you want to do good in the world and make a wise investment, choose a place like Grenada, where they work with you in hard times and good.’ For further information: www.sgu.edu ¤ Courtesy: Forbes Magazine

OECSBusinessFocus Jan / Mar |

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Grenada Steelworks

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OECSBusinessFocus Jan / Mar |

FEATURE

Sandals Puts Grenada On The Map With Almost EC$100M Economic Boost

Sandals Resorts Puts Grenada on the Map with Opening of new Luxury Sandals LaSource Grenada

renada has soared to regional and international prominence in the tourism market with the construction and opening of the Sandals LaSource Grenada – the first property to be opened in Grenada by the world-renowned Sandals Resorts International. It all began in 2013 when the Luxury Included® resort chain opened its doors following the record-breaking work of some 1800 construction workers who delivered the more than 225room resort complete with nine restaurants. Praising the building skills of the construction workers, Sandals Chairman Gordon ‘Butch’ Stewart said the ability of Grenada’s construction workers was “excellent and among the best in the region”. The resort defies every convention of traditional design, taking innovation beyond the realm of imagination, delivering an extraordinary resort unlike anything in the Caribbean. It offerspools in the sky and living rooms in swimming pools along with private plunge pools, cascading waterfalls and meandering river pools. Sandals LaSource Grenada sits on 17 acres of land along the pristine Pink Gin Beach, offering guests the highest level of luxury with an unprecedented look and feel and has created employment for almost 500 Grenadians. Sandals’ arrival to Grenada was dubbed a “strategic addition to

OECSBusinessFocus Jan / Mar |

the hotel sector and a potential game-changer” for Grenada’s tourism industry. This was in 2012 and since then the resort has literally changed the tourism landscape in the island. Following this massive capital investment, the resort in mid 2014 announced yet another investment in the Spice Isle with the establishment of its state-of- the-art Global Sales &amp; Marketing Center and an 8,500-square- foot Conference Center on the resort grounds. This undertaking was poised to create 105 more jobs in Grenada in addition to the establishment of the Marketing Center where scores from across the island are already employed. Sandals Chairman, Gordon ‘Butch’ Stewart has credited “the people – their education and attitude” as being the key driver of the company’s continued investment in the Spice Isle,adding that these traits bring a distinct advantage to the company. Again, in January 2016, the company announced an expansion of Sandals LaSource Grenada Resort &amp; Spa which resulted in the creation of some 150 construction jobs. This also saw the emergence of an additional 32 new luxury suites, taking its accommodation capacity at Sandals LaSource from 225 to 257 rooms, further enhancing the acclaimed Luxury Included® property. The new Lagoon Nature Reserve Suites, which opened in the summer of 2016, incorporate the contemporary opulence of the existing luxury suites, with the most sophisticated www.oecsbusinessfocus.com

amenities ranging from butler services, smart TVs and other Sandals signature Luxury Included® offerings. Sandals Resorts Chairman Gordon “Butch” Stewart commented on the expansion announcement: “We have had the most extraordinary two years in Grenada where we saw the demand for our brand and the destination soar. “We have decided to invest more in our product here, in an effort to meet the high demand the international travel trade has placed on us for Grenada.” Stewart added: “Grenada, one of our newest destinations is part of that redefinition. We challenge ourselves every day to raise our standards and to offer the world new innovations and fresh travel experiences.” For its investment in Grenada, Sandals has received and it has been disclosed that the Grenada Government agreed to waive the company’s payment of corporate taxes for 25 years, place a cap on Sandals’ property taxes for 25 years, waive all import duties for 25 years and waive the Value Added Tax (VAT) for 15 years on consumer goods. These terms were agreed to under former Prime Minister Tillman Thomas and sustained by now Prime Minister Dr. Keith Mitchell. Former Finance Minister Nazim Burke said, “In taking these steps, we recognize that we were doing something that was special but we felt we had to do it. We did it because we recognize the enormous benefit that the presence of Sandals can have, and will have, for Grenada.” Prime Minister Keith Mitchell said, “Sandals has built on the successes of our existing hoteliers and presented us with prime opportunities for partnerships. Every additional hotel investment, if managed effectively, can be a win a win-win for all hoteliers, and for the country.”

OECSBusinessFocus Jan / Mar |

FEATURE

NAGICARE – A Boost For Major Medical Care NAGICARE – A Boost For Major Medical Care NAGICARE – A Boost For Major Medical Care

he thought of health care in the Caribbean might not be as challenging as those in larger countries like the United States where business operators and politicians alike make it their life’s work to convince the public.

For the average Caribbean or OECS national, the thought of getting sick might end with several hours in the waiting area of the local Hospital or Clinic. The result might cost a small fee to cover, and in some cases, the superficial causes of the hospital visit. Eventually, a specialist’s intervention becomes necessary and the true cost of staying healthy and alive become a critical factor. With the introduction of NAGICARE Health Insurance in April 2016, the people of the OECS and of course Grenada have a little less to worry about and are benefiting from resounding results in the lives of their families. NAGICARE affords the individuals full coverage with direct access to the necessary health services – from routine doctor visits and prescription purchase to surgery without a penny out of pocket. Operations Manager for NAGICO Grenada Ltd. Adele JnBaptiste explained that health converge was one of the most “underserved insurance sectors in Grenada.” She said, “We have observed the consistent rise in the cost of health care regionally and international and with the limited number of medical specialists and services in Grenada and most Caribbean Islands, access to affordable health insurance is critical to cushioning the financial burden associated with chronic illnesses such as cancer, organ transplant and neurological surgeries.” NAGICO has since joined hands with other social partners, in an unusual but effective bid to sensitize the Grenadian populace on good health by hosting a ‘Health Fair’ in September with outstanding results. It brought together several medical professionals including general physicians, opticians, dentists and fitness instructors, who volunteered their services to provide information and tips about a healthy lifestyle. The public got the opportunity to ask questions personal to them and that would have likely come with a consultation cost. But what was most outstanding was the information on the affordable health care services available to the average Grenadian.

maximum coverage ranging from EC$250,000 to EC$2 million. All levels of coverage are specifically tailored to meet the needs of both individuals and organizations. These plans are designed to offer extensive coverage against large unplanned expenses resulting from serious illnesses or accidents, with the object of the Comprehensive Major Medical being to assist the individual or employee in meeting reasonable and necessary expenses for medical procedures. The NAGICARE group plan further provides life insurance coverage for individuals both on and off the job and comes complete with comprehensive coverage for local and overseas care through strategic affiliations and superior plan benefits. As it stands, NAGICO is broadening its scope to establish a healthcare provider network across Grenada that meets the company’s standards and satisfactorily serves the communities. This partnership will allow for NAGICARE insured persons to take advantage of the service by simply presenting their medical insurance card to partner hospitals, physicians and pharmacies. To find out more and apply for NAGICARE Insurance in Grenada, individuals and organizations can visit the NAGICO Grenada Ltd office at the GCNA Building, Kirani James Blvd, or contact at 4385000/5001 for further information. ¤

Group & Individual Medical

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NAGICARE

NAGICARE provides four (4) levels of comprehensive major medical insurance packages dubbed Turquoise, Emerald, Gold and Platinum, all offering lifetime OECSBusinessFocus Jan / Mar |

www.oecsbusinessfocus.com

NAGICO Insurances – Growing with Grenada NAGICO Insurances – Growing with Grenada

NAGICO Insurances – Growing with Grenada

ollowing its remarkable successes in the Dutch Caribbean, the OECS has opened its arms to what has fast become a true Caribbean company and Grenada is the newest territory to welcome this formidable and reliable brand – NAGICO Insurance. While NAGICO services were available in Grenada since 2012, it was not until 2016 that the brand officially revealed itself to the Grenadian public. With a history of outstanding regional growth and a motto that reads “Fast, Fair and Always There” the scope of the company’s offerings around the Caribbean cannot be better represented. This is ‘The NAGICO Way’ - to provide its growing number of clients “with exceptional value through the friendliest of service, competitive and innovative insurance products, fast and fair claims settlement, sound financial practices and strong community mindedness.” This is the same formula applied in 19 Caribbean territories through a network of branch offices, subsidiaries, agents and brokers which NAGICO has been doing for over 33 years. Today it offers to Grenadian individuals and businesses, a range of insurance coverage to include Motor, Property, Business, Liability, Marine, Medical, Personal Accident and Aviation Insurance. Under the leadership of Ms Adele Jn Baptiste, a youthful but experienced Insurance Professional as Operations Manager for its Grenada Branch, the market continues to be an “exciting” new addition for the NAGICO brand.

“We are happy to bring NAGICO and its tested umbrella of insurance solutions to this island. And while it has only been one year since our brand launch, the Grenadian public can attest to both our protection and support – factors that will only improve with time. We remain ready and willing to serve our clients. Fast, Fair and Always There.” NAGICO Insurances is located in 22 Caribbean islands; including French, Dutch and English speaking Caribbean islands, with assets exceeding EC$675Million and Shareholders’ equity exceeding EC$250 Million. ¤

In the game of life, you need a team player who won’tNAGICO drop the ball. For Home, Business, Marine, Contractors All Risk and Liability coverage, we’re always there.

NAGICO Insurance (Grenada) Limited GCNA Building, Kirani James Blvd, St. George's (473) 438-5000 / 5001 www.facebook.com/nagicogrenada/ Century Insurance Agency Limited NAGICO Building 139 Waterfront Drive, Road Town Phone: 1 (284) 494-6433 Century Insurance Agency Limited Walts Commercial Centre, The Valley Phone: 1 (284) 495-6444 NA1524 BVI-Basketball Ad-FINAL.indd 1

OECSBusinessFocus Jan / Mar 73AM 3/31/14 | 10:32

FEATURE FEATURE

Legend Way International

Legend Way International Building Dreams and Creating Legacies

As always all our homes continue to be engineered to be hurricane and earthquake resistant

egend Way International launched its real estate development initiatives on the island of Grenada in 2013. At the forefront of its agenda is the push to establish a sound housing programme, which in effect will bring home ownership within the reach of the majority of the population. Legend Way Int’l knows that this is the appropriate time to move ahead with its several ventures on the island of Grenada, including their “Lua Azul” brand of housing developments and resorts. They also recognize the need and opportunities for offering a sustainable housing product that is durable, affordable and will meet the building needs across all sectors of the population. Legend Way has undertaken years of research and due diligence and have liaised with experienced construction implementation and management teams to efficiently execute its strategies. The unprecedented success of Legend Way’s initiatives to date in Grenada can be directly attributed to: • Excellent professional management that has a mastery of choosing the most opportune time and the construction product that is appropriate for the market. • Providing an excellent, sustainable, durable and affordable product, whose acceptance and use will continue to grow at an accelerated rate into the future. • Delivering consistent, outstanding results with a team that possesses more than 70 years of experience combined

OECSBusinessFocus Jan / Mar |

Affordable Housing Initiative

Legend Way’s housing programme has reached all sectors of the society. They have used their alternative construction methods to build homes ranging in prices from $150,000.00 to $1,000,000.00. Legend Way is extremely excited because this year will mark the introduction of yet another construction method that will allow them to build two bedroom homes for less than $150,000.00

Address: Bruce Street Commercial Complex Suite: 2311, 2nd fl, St. George’s, Grenada Phone Number: (1) 473-440-9997 (1) 473-457-9999 Email: info@legendwaygnd.com Working Hours: Monday – Friday: 9:00 am – 5:00 pm

www.oecsbusinessfocus.com

Real Estate Developments Ridgeway Residences Grenada

egend Way’s first housing development on the island on Grenada is Ridgeway Residences, a joint collaboration with the Ariza Credit Union. It is located in Morne Jaloux to the south of the island, minutes away from the capital city St. Georges. There are five (5) different Home Models. Within the architectural design of those models, would be an additional seven (7) variations. Potential owners would meet with the “Design Team” to discuss and consider any ideas, assuring a seamless process towards and during construction. The development will feature; gated community, clubhouse, community pool, walking paths and reserved green areas. Phase 1 of the project is comprised of 48 lots spread out over 19 acres. Due to current market trends and the projects intended market segment, the proposed selling prices of the homes will range between $433,000 to $799,000. This translates to approximately a 25% to 30% saving to comparable housing units in the area. The market positioning, scale and location of this development makes it very attractive. A second housing development in the Parish of St. Andrew will commence this spring.

The Ariza Credit Union is the primary financer for this project. Their friendly and knowledgeable staff is ready to assist and answer any questions you may have concerning the financing of one of the homes at Ridgeway. Advantage Realty and Investments will be the primary sales and marketing representatives for this project

Céu Grenada Legend Way International is poised to develop a medium scale Boutique 20 Unit condominium project to be located in Calliste St Georges. CÉU by Lua-Azul will be the first of its kind on the exclusive Eastern Caribbean Island of Grenada in the West Indies. The project will be located a few minuets away from both the international airport and St. Georges University.¤

OECSBusinessFocus Jan / Mar |

FEATURE

Grenada A Leader in ‘Blue Economy’ By: Sarah Munn

Grenada A Leader in ‘Blue Economy’

renada, the Spice Island, is leading the Eastern Caribbean toward a “blue economy,” and the World Bank has taken notice.

The World Bank recently released a report examining how the transition to a blue economy for countries in the Caribbean can simultaneously generate growth and help those countries gain greater resilience to external shocks by better preserving the ocean. So what exactly is this notion of a blue economy? “The concept of a ‘green economy’ and ‘green growth’ has gained wide currency in the world in recent decades. Common policy recommendations for this type of growth focus on better efficiency, new technologies, new markets, and the boosting of investor confidence,” states the report, titled “Toward a Blue Economy: A Promise for Sustainable Growth in the Caribbean.” The United Nations Environment Programme (UNEP) and a group of partners proposed to apply the concept of a green economy to the ocean before the Rio+20 summit in 2012, envisioning a “blue economy.” At the summit and afterward, the concept was discussed at length and in varying capacities. Though there is still no one clear-cut definition of the term, the World Bank report says the Economist Intelligence Unit defines it as this: “A sustainable ocean economy emerges when economic activity is in balance with the long-term capacity of ocean ecosystems to support this activity and remain resilient and healthy.” The report expands on that definition, stating, “… the goal in applying the blue economy concept as a lens is to emphasize the connection between the ocean’s ecological systems and the human activity that takes place in the ocean economy. The concept recognizes that some activities in the ocean economy depend on

OECSBusinessFocus Jan / Mar |

the underlying ecological systems (the natural capital), while all have the potential to degrade them. Increasingly, policy frameworks seek to simultaneously expand the natural and the produced capital of the ocean. Essentially, the blue economy concept provides a lens through which to measure, identify, and encourage these types of opportunities, for a net benefit to the aggregate ocean economy and environment, consistent with principles of social equity and with a priority on poverty reduction.” The Caribbean is the perfect place to implement this concept in a tangible way. Pawan Patil, World Bank Senior Economist and coauthor of the report, explains. “The Caribbean Sea represents a tremendous economic asset for the region not only in terms of high value natural resources such as fish stocks, oil and gas, but also as a global hotspot for marine diversity and tourism. Maintaining ocean health is synonymous with growing ocean wealth, and finding this balance is how we’ll be able to better invest in the Caribbean blue economy.” Grenada has established itself as the first country in the Eastern Caribbean to develop a vision for blue growth as the way forward for the country’s future, and has also become a leader in the battle against climate change. The country has successfully developed a high value seafood export business to Martinique and the United States. “Our Prime Minister has seen how important these tourism and fishing industries are for the people of Grenada, and is committed to ensuring that our oceans and environment are protected,” said Dr. Angus Friday, Grenada’s Ambassador to the United States. Supported by the World Bank, Eastern Caribbean countries adopted a regional action plan in 2013. In other parts of the world, Mauritius and the Seychelles have championed the strategy of a blue economy. www.oecsbusinessfocus.com

According to the World Bank report, Caribbean waters generated an estimated US$407 billion in 2012, an amount that represents more than 17 percent of Caribbean GDP. That figure comes chiefly from cargo shipped through the region, tourism and oil and gas production. In recent years, there has been a rise in revenues from aquaculture, but a decline for open sea capture fisheries.

1) Sustainable development/sustainable livelihoods 2) Marine ecosystem health 3) Integrated ocean governance 4) Science-based, precautionary, and adaptive decision making 5) Duty of care and accountability 6) Inclusive and transparent decision making 7) Ecosystem-based management 8) Develop ocean solutions that will reduce climate change risks and allow the development of climate change- related opportunities 9) Sharing of benefits derived from the blue economy 10) The right to development

“The report highlights the opportunities offered by the Caribbean blue economy and identifies priority areas for action that can generate blue growth and opportunities for all Caribbean people, while ensuring that oceans and marine ecosystems are sustainably managed and used,” said Sophie Sirtaine, World Bank Country Director for the Caribbean. The authors say the current state of play in the region suggests many interrelated priorities for polices that could carry the Caribbean Some of the authors’ actionable recommendations for policymakers in the Caribbean include eco labels to promote sustainable fishing toward a blue economy, guided by ocean principles. practices and/or aquaculture, environmentally friendly coastal hotels, offshore winds and other marine renewable energy systems. Policy Priorities •Develop and strengthen regional and national policies to “Creating a blue economy in the Caribbean will require major better integrate the governance framework for the Caribbean investments of capital and political will and take decades to Sea. complete,” the authors conclude. “But sticking with a business-as •Implement policies for a healthy, resilient and productive usual approach risks the continued decline of a body of water that marine environment in the Caribbean. boasts not only great beauty but mammoth economic potential. •Provide education and raise awareness about the blue The World Bank stands ready to work with governments and other economy. actors to help bring the people of the Caribbean the full benefits of •Ensure maritime surveillance, monitoring and enforcement. the blue economy.” •Build the infrastructure for a blue economy. •Support research and development for a blue economy. The analysis for the report was conducted in collaboration with the •Support business development and sustainable finance. Commonwealth Secretariat, the Organisation of Eastern Caribbean To facilitate change, the authors suggest combining the above policy States and the Nicholas Institute for Environmental Policy Solutions priorities with the following 10 ocean principles for investments in a at Duke University. ¤ Caribbean blue economy.

UWI Open Campus

OECSBusinessFocus Jan / Mar |

ECONOMY & TRADE

FIVE Keys To Enhancing Competitiveness In The Caribbean

FIVE Keys To Enhancing Competitiveness In The Caribbean By: Felicia J. Persaud

1: Think Outside The Proverbial Box We have to begin by imagining a far better future for the Caribbean and then we must follow our imagination with useful measures by employing our imagination as we never have before to create a specific list of ideas, while tapping into the best and brightest among us to develop them and create a unified plan that can be marketed to investors. Because at the end of the day, investors invest in bold vision that can bring returns but first we have to have an attractive outside the box vision to draw them in. 2: Telling Our Story, Harnessing Our Natural Assets And Competing For Our Wallet Share The reality is that as a region we are lagging way behind when it comes to telling our investment story. We are fine with promoting the fact that we have an abundance of sun, sea and sand but we are failing to tell our investment story. The things that make us stand out as a great investment destination beyond just offering tax incentives. Assets like: • our stability – there are no Isis attacks in the Caribbean and no political upheavals. In fact, right now France is now deemed riskier for business than Haiti • our abundant resources – we must focus seriously on turning the abundant natural resources we are blessed with into revenue earners to propel our economies further along. Our fruits, our veggies, our food, our fish, our music, our culture, our art etc. These are significant economic earners that are lying dormant while others are using them to propel their own economies forwards. • our location – The region and TCI is the US’ back yard, making it very attractive, very easy to get to and not “time-zone” challenged. No getting up at odd hours of the night to call there. We also have high literacy rates and the creativity of our people knows no bounds… our human capital is largely literate, speaks many languages, and are creative – whether in the region or in our Diaspora - and that is something to be

3: Harnessing The Right Human Capital And Enhancing Collaborations And Partnerships To say it is critical to harness the right human capital if we are to succeed globally and be competitive cannot be stressed enough. For instance, if you are going to launch an international bid and the person listed as the contact for questions only speaks one language, then we have a problem. How exactly is this going to work successfully? Another challenge is the way bids are being presented to a global market of developers. Competitiveness in understanding the global market place you are operating in and realizing people are more into giving a hand up than a hand out is the key. Which means we must move beyond the notion that what we are offering is so amazing with tax incentives thrown in that everyone must invest their own monies to build a project and then hand it over free of charge in 50 years under the BOLT model. This investment model is not competitive enough for today’s market and we have to drop it. We must also recognize and understand that creative – private and public sector partnerships – locally, regionally, globally and in the Diaspora – is the key to improving our nations, our region, our lives and the lives of the people in this nation such collaboration will allow us to harness resources to be more sustainable in the global economy. Which also means we in the Caribbean must move beyond petty politics and arrogant perceived power and understand that our growth as an island – and as a region – is tied to relationship building globally – whether with other regional nations, the Caribbean Diaspora, the US, China, Europe, Africa or other areas around the world. Let’s make sure we are building networks – networks that also offer strict safeguards against all forms of corruption and cronyism and help the entire development process thrive and

here is no denying that constructing, enduring and sustainable competitiveness is critical right now to the Caribbean region’s success in the global market place. So to say the challenge on how to become more competitive as a country and as a region and strive in this challenging market place which we find ourselves is immense – is an understatement. Here are five keys to competitiveness the Caribbean as a region needs to adopt:

OECSBusinessFocus Jan / Mar |

proud about. The reality is our “product” stacks up against most, but we are falling short in selling and telling our investment story, i.e. the “Promotion – P” of the principles of marketing. Just as we promote sea and sand tourism, why not promote the fact that we are open for investments too… in TV ads that target specific segments of the global business sphere? And this includes using Social media to our advantage. In order to succeed we must be able to harness what we have and think outside the box to spike our growth.

www.oecsbusinessfocus.com

not just survive. The competitive nature of the global market place demands such action and we cannot be left behind in 2016. We must think global and act global for the betterment of our people. There is no way any one of us – whether in government or the private sector – is smart enough to do it alone – but through collective respectful efforts and partnerships and consultations – we can move our nations, our economies, our businesses and our people to higher heights globally.

– both in the private and the public sector. Ensuring competitiveness in response times must be a top priority for us as a government or a company – and this every little facet – from email responses, to a includes response to a contact query on your website, to phone calls being returned, to contract and bid releases, to licenses being approved, to payments being made etc. Because at the end of the day, timeliness translates into productivity and of course productivity into competitiveness.

4: Growing The Middle Too often, the main complaint I hear from entrepreneurs in the Caribbean is their struggle to access capital to grow. Yet every economist would tell you – growing the middle level of the economy – the industry level, where the private sector sits –the manufacturing, agribusiness and the services industries – is key to growing a successful economy. Why? Because this is the level where wealth is actually created. It is at this level that the economy can be most energetic, innovative and inclusive. When you look at the Singapore model and their growth – it is largely in part due to the substantial growth of SME’s and this includes incorporating massive technological change and international competitiveness to increasing quality and output. This is what gives hope and brings the vision to reality for the young student who dreams of creating an app to better his life and his community. For the single mother with an idea to start her own company and hire others locally or the father who works a 9-5 job but secretly dreams of launching out and running his own business. We must support our innovators within while also pushing small businesses to be more innovative – creating goods and services that can make our nations stand out – beyond just sun sea and sand tourism. And while we do that let’s also focus on ensuring we are bringing our A –game on both sides

5: Focusing On Technology And Energy Efficiency We must harness technology to be more competitive and stay competitive. Especially in an era where you can live and work anywhere as long as there is a decent internet connection. We need to establish our own Silicon Valley so to speak in regional nations – a techno pole! Especially when you look at the regional youth unemployment rates today. We have to invest in the next generation to ensure we keep moving forward. And that includes also cutting down our energy bills by focusing on boosting our renewable energy sector through the technology available to us. We as One Caribbean need to adopt serious clean energy goals to not only help our environment but be good for our bottom line by attracting manufacturing interests to our shores. We have the resources to move away from that and towards a Clean Energy Initiative by 2045 – harnessing our god given natural assets to better serve our people. This will also deliver a serious boost to our economies by helping to set us apart from our neighbors and the world, but we have to be aggressive with this and not continue to lounge around contently being oil dependent.¤

Courtesy: News Americas

OECSBusinessFocus Jan / Mar |

IN THE KNOW

ENTREPRENEURSHIP VS INTRAPRENEURSHIP By Basil Springer

Entrepreneurship VS Intrapreneurship

“Other seed fell into good soil and brought forth grain, growing up and increasing and yielding thirty and sixty and a hundredfold.” - Mark 4:8

hirty years ago, it was apparent that entrepreneurial activity had been enhanced, both in Silicon Valley and in Boston, by the growth of the venture capital market. I set out on a tour of Boston in search of venture capital knowledge which I thought could contribute to the growth of economies in small states and emerging nations in the Caribbean. Specifically, my question at that time was, as it is now, how do we source profitable private sector investment to finance entrepreneurs, i.e. persons who start their own business with a new idea, concept or innovation? I returned home to Barbados “bright-eyed and bushy-tailed” all ready to make something happen. I mounted a workshop to present my findings of the tour and, even though many people attended, there was little private sector interest in establishing a local venture capital fund. There were two interesting responses to my presentation. The one from Sir Courtney Blackman, the Governor of the Central Bank of Barbados at the time, and the other from the late Sir Douglas Lynch who was the then Chairman of Barbados Shipping and Trading Co. Ltd. (BS&T - now part of the Massey Group). The Governor proposed that the reserve requirement of commercial banks, lodged at the Barbados Central Bank, could be reduced and the difference used to capitalize a venture capital fund to stimulate Entrepreneurship. Indeed, the concept of Shepherding (value chain coordination, mind-set change, business skill set change and cross cultural communication change) as a risk mitigation measure, which is gaining traction today, had not yet been formally introduced. The Governor’s concept never saw the light of day. The other interesting response from BS&T actually resulted in the introduction of Intrapreneurship, i.e. an employee who promotes innovation within the limits of his or her organization. The BS&T Directors provided a sum of money to encourage internal entrepreneurs to come up with new ideas for the benefit of their company.

OECSBusinessFocus Jan / Mar |

It was not until 2009, when the then Barbados Prime Minister the late David Thompson successfully launched the Barbados Entrepreneurs’ Quick Response Venture Capital Fund at George Washington House in the historic surroundings of the Garrison, that some progress was made. Unfortunately, the Honourable Prime Minister fell ill within months of the launch and soon after passed away. The private sector sourced venture capital fund concept, with government incentives, died with him. Just over a week ago, while chatting informally with a captain of industry in Trinidad at a social function, I piqued his interest by contrasting Intrapreneurship, which his group of companies also practiced, with Entrepreneurship. My view is that whereas Intrapreneurship certainly grows the economy by making big businesses bigger, it frustrates the reduction of the wealth divide by restricting business ownership in the hands of a few, whereas Entrepreneurship gives the individual with a new idea the opportunity of becoming a big business in his or her own right and hence grows the economy as well as reduces the wealth divide. My hypothesis is that Intrapreneurship and Entrepreneurship together give a small country a better chance of accessing the global market, leading to the sustainability of economic growth. In the Intrapreneuship model, the innovator within the organization will get a salary and may participate in an employee stock ownership plan. He or she may grow within a relatively risk free business environment. Whereas in the Entrepreneurship model, with “Shepherding as Collateral”, the innovator will get a salary and will usually have significant ownership in his or her company thus ultimately mitigating the wealth divide. Let us now grow the seeds of Intrapreneurship and Entrepreneurship so they may be nurtured by the Light of God and yield a bountiful harvest of economic growth. ¤

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St. Kitts Investment Promotion Agency

OECSBusinessFocus Jan / Mar |

MONEY MATTERS

2016 CAB Conference Looks To The Future Of Banking

And The Path To Regional Financial Prosperity

he Caribbean Association of Banks (CAB) concluded its 43rd Annual General Meeting and Conference under the theme: “Caribbean Banking: Fresh Tools, New Thinking” in Curacao on 16th-19th November, 2016. The conference served as a watershed event for regional banking stakeholders to discuss the challenges facing the industry and to explore relevant solutions. Industry leaders discussed strategies which could potentially assist in achieving their corporate goals, cognizant that risks have to be effectively managed while satisfying compliance requirements and leveraging the advantages of the FinTech economy. The Chairperson of CAB, Ms. Joanna Charles highlighted the many challenges and opportunities facing the Region, focusing on the derisking phenomena which is threatening to be a crippling force in the industry and urging stakeholders to collaborate in an effort to find a solution. She further highlighted CAB’s effective advocacy efforts in representing the Region at the highest level of regional and international stakeholder discussions. She also commended the efforts of the OCC and the FATF in producing guidance for correspondent banks to follow before deciding to terminate the account of a Respondent bank and reiterated that more must be done to prevent and mitigate de-risking. The Feature speaker, Minister of Economic Development in Curacao, Mr. Eugene Rhuggenaat expanded on this theme and the reality of how the world perceives our Region. He cautioned that while we may perceive ourselves as separate countries with our own governance structures, the reality is that globally we are perceived as one Region. When one country is affected by a certain event, it impacts the entire Caribbean and is viewed by the world as a “Caribbean Problem”. He issued a call for the countries in the Region to work together and establish functional corporation mechanisms to increase efficiency, reduce costs and expand our sphere of influence. The Keynote presenter, Mr. Oz Eleonora, Founder and Principal, Zinica Group opened his address with a thought provoking question: “What will banking look like in the future?” While he cautioned that no one knows the future, he beckoned the banks to look towards Africa for a glimpse at how FinTech innovation, such as M-Pesa, a phone based money transfer and microfinancing platform, is rapidly changing the market dynamics of the global financial system. He proffered that, the consumer’s greatest need is Service, Security and Trust and implored the banks to study market trends which OECSBusinessFocus Jan / Mar |

would enable them to identify the way in which technology can be leveraged to meet those needs, with increasing efficiency. Mr. Eleonora posited that the traditional role of banks is being challenged by innovations such as peer-to peer lending, cryptocurrencies and branchless banking. Banks should not resist these changes but accept their role as a trusted third party through which two exogenous parties may do business. Banks, he advised, must learn to leverage the opportunities presented by FinTech. The conference highlighted the scope of the game changing trends and thinking, as well as new tools which should be leveraged to ensure the survivability of the financial industry. The key areas emphasized for action were: • Regional banks should go above and beyond compliance with AML/ CTF and tax regulations to stave off the loss of correspondent banking relationships. • Regional banks should continue to do their utmost to facilitate the implementation of Basel II. • Banks need to make greater use of social media to engage and build positive and responsive relationships with their customers. • Leadership and talent management will continue to be a major differentiator in business performance, hence banks will have to strengthen their leadership capabilities and cultivate an organizational culture which promotes talent identification and development. • Banks will need to improve their internal processes, increase the rate of adoption of new technology and be proactive in identifying new revenue streams to remain viable. The conference also received the support of regional and international sponsors who provide technological and professional services to the financial industry. The CAB continues to support its members through advocacy, up to date training, growing member and partner networks and engagement at all levels in order to build a resilient financial services sector. During the Annual General Meeting of the CAB a new executive was elected with Ms. Joanna Charles, Chief Operating Officer, Bank of Saint Lucia being retained as Chairperson of the Board and Mr. Keith Johnson, Managing Director, Republic Bank(Grenada) Limited was elected as Vice Chairperson. The premier CAB Conference and AGM is scheduled to be hosted in the Dominican Republic in November, 2017. ¤ www.oecsbusinessfocus.com

Bank Of Montreal Looks At Financial Side Of Guyana’s Oil And Gas Industry

he Bank of Montreal is the latest international producing this oil. organisation to provide assistance for the development Since the discovery, several other organisations and countries of Guyana’s oil and gas industry. The bank recently including the US and Norway have offered their assistance to made a presentation on the likely financial impacts to Guyana the development of anIndustry effective oil and gas Bank Of Montreal Looks At Financial Sidetowards Of Guyana’s Oil & Gas members of the subcommittee on oil and gas and stakeholder industry. ministers at the Marriott Hotel in Georgetown. Trotman, who has oversight responsibility for the natural Minister of Natural Resources Raphael Trotman told the resources sector, said a number of initiatives will be unfolding. Government Information Agency (GINA) that the Bank of “Next month we’re going to be having a workshop on the Montreal had reached out to Guyana because, “Guyana’s find of financial part of it and so developments are taking place we oil is considered one of the best in the world right now.” are working in finalising legislation and honing our efforts,” the Minister said. “The Bank of Montreal had reached out to Guyana about two According to Trotman, the government is also working to ensure months ago asking to be able to give a presentation on the financial side of the oil and gas industry, the ups and downs of that when the industry comes on board, it honours its social the market, financial services that are available,” Trotman said. responsibility. “The ministry is also developing a corporate social responsibility programme which will look at leadership and mentoring for youth so that the idea is to prepare and present a This year, ExxonMobil’s Liza-2 offshore exploration found high next generation of leaders for Guyana,” Minister Trotman said.¤ propensity sandstone reservoirs that could produce more than 1.4 billion barrels of recoverable high quality oil. It is estimated Courtesy: iNews Guyana that within the next five to seven years Guyana could begin

“St. Maarten On The Move” As Island Hosts LACNIC and CaribNog 12

he Latin American and Caribbean Internet Addresses Registry BTP Public Relations Manager Ryan Wijngaarde described the week (LACNIC) and InternetOn Society “a valuable opportunity for anyone who wants to learn about St. the Maarten The(ISOC) Moverecently Offershosted UniqueasOpportunity an international tech conference called St Maarten On The what it takes to accelerate Internet development and make it Move in Philipsburg. accessible and affordable to all.” “St Maarten on the Move is a unique opportunity for open dialogue about the development of a free, open, stable and secure Internet in the Caribbean,” said Carlos Martinez, Chief Technical Officer of LACNIC. He is one of several regional experts who conducted hands-on workshops over the two day-conference, on a range of topics including cyber security, Internet Governance, IPv6 adoption and Internet Exchange Points. “Caribbean citizens are important stakeholders in the global Internet. ISOC is here to foster greater understanding of the issues that are relevant to the growing the Caribbean Internet, and stimulating the regional Internet economy,” said Shernon Osepa, Regional Affairs Manager for Latin America and the Caribbean at ISOC. St Maarten On The Move was part of a five-day event called Internet Week Saint Maarten, which was expected to attract a broad profile of Internet stakeholders, including government officials, policymakers, regulators, academic researchers, journalists and all ordinary Internet users. The St Maarten telecommunications regulator, BTP, coordinated the weeklong conference.

The 12th regional meeting of the Caribbean Network Operators Group (CaribNOG 12), kicked off the week. Bevil Wooding, one of the CaribNOG founders, explained that the three-day meeting was designed to give telecom competitors “an opportunity to engage as colleagues with a common interest in defending Caribbean networks.” The collaboration between LACNIC, ISOC and CaribNOG is significant, as it signals the commitment of regional and international organisations to work together to strengthen the Internet in St Maarten and throughout the Caribbean, said Kevon Swift, Head of Strategic Relations and Integration at LACNIC. “LACNIC, ISOC and CaribNOG are committed to developing the technical capacity of the region to solve Caribbean issues and address Caribbean challenges.” The five-day event, which was open to the public and free of charge, took place at the Sonesta Great Bay Beach Resort, Casino & Spa, Philipsburg, with a live video stream for remote participants. ¤ Courtesy: Sint Maarten News Network OECSBusinessFocus Jan / Mar |

TECHNOLOGY

In addition to ensuring information transparency the policy is also guiding ECTEL in its efforts at strengthening the

ITY OR H

Over the past few years, policy makers and regulators from Europe, the USA and other countries such as Chile and India have implemented rules to ensure that there are no barriers to accessing the Internet. In some cases, there have been penalties imposed on operators and service providers who have breached the rules.

The ECTEL Managing Director further contends that: “We must ensure that individual content developers, private sector investors and civil society always have the opportunity to share their innovations and content with the entire society.

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“After all our regime is designed to ensure free and open entry, liberalization and the development of the electronic communications sector. Caribbean nationals are beginning to develop internet content which is relevant to the realities of our region. Basically, we want this new content to receive equal treatment by the network operators and ISPs,” Charles added. ECTEL’s policy on net neutrality has been discussed at many regional seminars including the 32nd conference of the Caribbean Association of National Telecommunications Organisation (CANTO), and the fourteenth conference of the Organisation of Caribbean Utility Regulators (OOCUR). Government Ministers and policy makers throughout the Caribbean region have signaled that there will be no compromising on their support and promotion of net neutrality principles which are expected to be of immense benefit to consumers in all Member States. ¤

IC AT I O N S

According to ECTEL’s Managing Director Embert Charles: “The policy directive of the ECTEL Council of Ministers to support OECSBusinessFocus Jan / Mar |

“Such information should speak to the terms and conditions for the provision of the service, the average speed that the provider intends to supply during normal and peak times, the type of traffic management practices employed, as well as the effect of these practices on the service and confidentiality of the consumer’s information.” The full text of the ECTEL determination of Net Neutrality is available on the website at www.ectel. int

IC AT I O N S

rules for competition in the electronic communications sector and reforming quality of service rules. The new quality of service regulations which have been approved by ECTEL, further reinforces the obligation on service providers to provide accurate and timely information to consumers and regulators.

Given the importance of net neutrality for the consumer the ECTEL policy determination also “strongly urges providers to utilize information transparency as a means of treating with the privacy issues that may arise. Given that the objective of information transparency can be undermined if the information is presented in a manner that the average customer cannot comprehend, or published in a place where the customer may not have ready access to, it is recommended that all Internet service providers provide consumers with coherent and readily accessible information on the broadband services that they offer.

TEL

ECTEL’s net neutrality journey commenced with a public consultation which was conducted in all Member States between September and November 2013. Submissions were received from Lime, Digicel and Columbus Communications. As a result of these consultations, ECTEL was able to conclude that the principle of an Open Internet should be preserved and maintained, and that the practice of blocking websites potentially inhibits economic development and interferes with customers’ privacy rights. Moreover, to do so is in breach of the terms of the current telecommunications legislation and licences terms and conditions. ECTEL will continue to pursue its policy position on net neutrality armed with the new Electronic Communications (EC) Bill which was recently approved by the ECTEL Council of Ministers. The Bill sets the framework for full public consultation on the development of regulations which will specifically address net neutrality.

CAR

He also stated that the mission is about increasing Internet penetration. “Any consideration on the management of the Internet must first be guided by the authority to do so. The task is best done by the regulator, armed with the relevant legislative tools. ECTEL will always as a matter of course 2 engage all stakeholders in public consultation on new laws and rules for the electronic communications sector.”

The new legislation includes provisions for supporting the policy of net neutrality, which is based on the principle that Internet service providers should treat all data on the Internet the same. Due to the increased number of over the top services and the growing trend for service providers to block these services, this principle has become very important to protect consumer’s ability to access all content on the Internet. The principles of Net Neutrality have been included in electronic communications legislation in the European Union countries, the United States of America, Chile and Canada.

the principles of net neutrality was aimed at ensuring that there are no arbitrary impediments to accessing all types of information and services which are available on the Internet.”

TEL

he Eastern Caribbean Telecommunications AuthorityECTEL, is moving ahead with plans for new legislations which will guarantee the citizens of its Member States the unhindered access to the products and services on the Internet.

CAR

ECTEL Moving Ahead With Net Neutrality Policy

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The Eastern Caribbean Institute of Tourism: Developing the Yachting Sector

The Eastern Caribbean Institute of Tourism:

Developing the Yachting Sector

any territories in the OECS have intensified efforts to develop their maritime sector given the enormous economic potential of the expanding luxury yachting sector. At the regional level, the OECS Commission has also spared no effort in making the yachting sector a priority on the Tourism Work Programme with the establishment of a Yachting Committee, about five years ago, and the coordination of joint promotion of the yachting sector at International Boat Shows. At the national level, there has also been, in recent years, considerable marine infrastructural improvements. One of the most recent developments in this regard is the Christophe Harbour Marina in St. Kitts and Nevis which officially opened in 2015. Christophe Harbour promotes its facility as providing elite luxury yachting services and world class amenities. The Marina, which was developed by a super yacht owner, represents a $100 million infrastructure investment that establishes St. Kitts and Nevis as a major super yacht home port. The first phase of the Marina includes 24 alongside 45 metre to 67 metre berths that offer freehold berth ownership opportunities and can accommodate for 25.9 metre to 91.4 metre yachts. When completed, the luxury marina development will include a shore side marina village with hotels, restaurants and boutiques. Last year, super yacht traffic increased by 60% in St. Kitts and Nevis. The twin island state also accommodated 134 yachts of more than 100ft in length. These numbers were consistent

with the anticipated 20 percent year-over-year growth of the super yacht industry in the Federation. As investment in the Maritime Sector expands, the need for more skilled personnel to service the sector also increases. On October 26th, Christophe Harbour held a job fair, in an effort to recruit persons for employment in the maritime sector. Available positions included Marina Dockhands; Marina Maintenance Engineers; and Marina Guest Services. Such specialized skills are deemed to be lacking in our region. The OECS Eastern Caribbean Institute of Tourism (ECIT) is designed to address these skill-gaps in the region. ECIT is conceptualised as an integrated system, characterised by centres of specialisation that operate in Hospitality Training Institutes in each of the OECS Member States. “Each Member State of the OECS will specialise in a niche area in Tourism that reflects the respective comparative advantage of each destination,” OECS Tourism Programme Officer, Lorraine Nicholas, said. “The British Virgin Islands deemed to be the ‘sailing capital of the world’ will specialize in Marine Management, Boat Repairs and Maintenance whilst St. Vincent & the Grenadines, another of the region’s well-known sailing destinations will offer the specialisation of Marine and Coastal Tourism. The ECIT is definitely well-poised to enhance the availability of skills in the region’s maritime sector.” ¤ OECSBusinessFocus Jan / Mar |

TOURISM

Intercontinental Hotels Group Committed To Caribbean Expansion

nterContinental Hotels Group (IHG), one of the world’s leading hotel companies, on the heels of strong 2nd Quarter 2016 financial results, continues expanding its brands throughout Mexico, Latin America and the Caribbean, with 40 new hotels in the current pipeline, adding nearly 6,000 rooms in the region over the next several years. The growth is buoyed by strong relationships with existing owners, as well as new entities entering the hotel-ownership arena. In 2016 alone, IHG announced the arrival of the Candlewood Suites brand in Mexico and the continued growth of the Staybridge Suites brand alongside the opening of a Holiday Inn Resort in Mazatlan in the same country.

Jorge Apaez, Chief Operating Officer, Mexico, Latin America and Caribbean, IHG said: “We are very pleased that both our long-standing as well as new ownership groups continue to see the value of IHG-branded hotels. Our brands continue to serve the growing number of both business and leisure travelers in the region. This is particularly true of our Holiday Inn® and Holiday Inn Express brands which are ideally suited for the modern-day traveler. The rapid growth of these brands, alongside the IHG Rewards Club programme, is an example of how IHG continues to positively impact the hotel industry in Mexico, Latin America and the Caribbean. As the international hotel company with the longest track record of success in the region, we look to further growing our number of hotels and provide the unparalleled experience that exceeds the expectations of today’s travelers.”

Other highlights of the company’s ongoing growth in key IHG’s growth in Mexico, Latin America and the Caribbean is markets include the signing of two new-build Holiday Inn a microcosm of IHG’s overall growth throughout the globe. Express hotels in Peru and the launch of the first Holiday Earlier this year, the company marked a great milestone Inn Express hotel in Paraguay which joins IHG’s Crowne with the opening of its 5000th hotel. Plaza in the country’s capital city of Asuncion. IHG is also set to debut the highly anticipated InterContinental Santo Recently, IHG released its 2016 Interim Results. It was a Domingo in the Dominican Republic, good first half, with solid revenue which expands the presence of the growth driven by both RevPAR and InterContinental brand within the rooms. IHG’s strong pipeline is driving We are very pleased that momentum and supporting future Caribbean. growth. In the first half, IHG signed both our long-standing as 35,000 rooms into the pipeline, taking In 2015, IHG acquired the world’s largest independent boutique well as new ownership groups the total pipeline to 222,000 rooms, the strongest pipeline growth since hotel operator, Kimpton Hotels & continue to see the value of 2008. While the number of signings Restaurants. Debuting in November, represent more than one hotel per the Kimpton Seafire Resort + Spa IHG-branded hotels day it also reflects owner confidence in Grand Cayman will have the in IHG’s brands, especially the Holiday distinction of being IHG’s first Kimpton brand opening in the Caribbean. The 266-guestroom resort Inn family of brands, InterContinental, Candlewood as well is Grand Cayman’s first new resort development in more as Staybridge brands. Currently, 45 percent of IHG’s global pipeline is under construction. than a decade.

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Additionally, the opening of a Crowne Plaza in Colombia early next year will mark the company’s 14th property in the country and IHG’s second hotel brand to gain a footing in the booming metropolis of Barranquilla. The Crowne Plaza brand is also strengthening its Mexico presence with two newly signed properties in the key cities of Chihuahua and San Miguel Allende. In June, IHG announced that it is investing $200 million in the Crowne Plaza® Hotels & Resorts brand in the Americas region. By the end of 2017, IHG will also open additional hotels across Mexico, Brazil, Colombia, Chile and the Bahamas, as well as in rapidly emerging markets such as Ecuador. OECSBusinessFocus Jan / Mar |

IHG now has hotels in nearly 100 countries and more than 96 million members in the world’s largest hotel loyalty programme, IHG Rewards Club. The programme’s success is bolstered by the fact that it is nearing its five-millionth member within the Mexico, Latin America and Caribbean region alone. With its roots in Latin America, the first InterContinental hotel opened in Belem, Brazil in 1946. Currently, IHG has six brands throughout 21 countries in Mexico, Latin America and the Caribbean, totaling 221 hotels and nearly 38,000 rooms. ¤ Courtesy: IHG www.oecsbusinessfocus.com

IDB Launches ‘Rise Up’ Climate Change Toolkit IDB Launches ‘Rise Up’ Climate Change Toolkit

he Inter-American Development Bank (IDB) has launched “Rise Up,” a free multimedia tool for both primary and secondary schools in the Caribbean and Latin America. Its goal? To empower students, parents and teachers to address climate change and improve their quality of life through creative, viable and long-term solutions. “The solution to climate change is very complex. So we created an innovative knowledge tool in a multimedia format, to address part of the problem,” said Emma Näslund-Hadley, project coordinator and lead specialist in the Education Division of the IDB. Rise Up offers instructional videos, lesson plans, videogames and a green school toolkit in both English and Spanish. The initiative’s content is divided into eight categories: Climate Change, Energy, Water, Food, Protecting the Land, Ecological Footprint, Environment, and Sustainable Development. Rise Up encourages teachers and students to be part of the solution to climate change. Rather than teaching science in a traditional way, Rise Up transforms learning at school and at home to harness the potential of youth and adults to mitigate and reverse climate change. Rise Up is a joint effort between the IDB and the InterAmerican Investment Corporation to combat the effects of climate change facing the region. ¤

Cool Breeze Car & Jeep Rental

Ocean Terrace Inn

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Cooking gas –air-conditioned both Sol andmeeting TexGas The * Private Dining Room is the Our fully Telephone top up – Lime/Digicel spaces are outfitted with Compli- perfect meeting room for small meetings; press conferences just mentary wireless internet as well air Vehicle accessories, car batteries, throughout the entire property. The to name a few, with a capacity of a fresheners * Lottery Tickets 2500 square foot Conference maximum of 50 persons theatre Oils Meeting and lubricants * Ice Room seats up *to Convenient 225 style. This 1089 square foot people theatre style, 120 classroom meeting room is located next to our store style or 200 people banquet style. You signature restaurant, The Verandah can host a range of events, the sky’s which offers a breath taking view of the limit. We have Cacao, customizeable and the Caribbean Sea, the city of Location: Fond Soufriere spacious sections to accommodate Basseterre and neighbouring island of Nevis. any size event. Telephone : 459 -7831/459-7729 OECSBusinessFocus Jan / Mar |

TOURISM

New Flights To Make Anguilla More Accessible

New Flights To Make Anguilla More Accessible By: Gemma Greenwood

he Anguilla Tourist Board (ATB) and Seaborne Airlines have partnered to launch a new connecting flight for UK passengers transiting through Puerto Rico on their way to Anguilla. Norwegian currently operates weekly direct flights departing London Gatwick each Saturday bound for San Juan. Starting from 1 November, Seaborne is offering holidaymakers the option of direct connections from San Juan to Anguilla’s Clayton J Lloyd International Airport. Seaborne will operate up to six flights per week from San Juan, Thursday-Monday.

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“The one-hour flight from San Juan on the 34-seater aircraft, will cost from $410. Combined with the Norwegian lead-in rate, with return fares in November from £269.20, holidaymakers can reach Anguilla from as little as £577pp return.” one-hour

The flight from San Juan The launch of the new route coincides with the opening of three new luxury on the 34-seater aircraft, hotels on the island, including The Four Seasons, The Reef and the The will cost from $410... Manoah. Holidaymakers can reach The Charming Escapes Collection also Anguilla from as little as provides visitors with a wide range of affordable, boutique accommodation £577pp return. options across the island.

The route will provide greater flexibility for holidaymakers, who currently access the island via the daily LIAT connection from Antigua (BA & Virgin) or via boat transfer from St Martin to Blowing Point (London via Paris with KLM & Air France). Carolyn Brown, director UK & Ireland for the Anguilla Tourist Board, commented: “The new airlift is great news for independent UK travellers wishing to experience the authentic Caribbean island of Anguilla. Not only does it allow greater choice and flexibility for travellers beyond the current Antigua and St Martin connections, but it also opens up the island OECSBusinessFocus Jan / Mar |

further as an affordable Caribbean destination by utilising the low cost Norwegian connection from London Gatwick to San Juan.”

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Brown concludes: “The island is renowned for its wide range of accommodation from uber luxury hotels and villas right through to beach-side boltholes starting from as little £99 per room per night.” “The combination of the new airlift and the opening of three world-class resorts means we expect 2017 to be a bumper year for the island as it celebrates its 50th anniversary”. ¤ Courtesy: Travel Daily UK www.oecsbusinessfocus.com

Voted ‘Caribbean’s Most Romantic Destination’

Antigua and Barbuda Voted ‘Caribbean’s Most Romantic Destination’

ntigua and Barbuda received one of the highest honours in the travel industry by winning ‘Caribbean’s Most Romantic Destination,’ for the second consecutive year, at The 2016 World Travel Awards’ Caribbean and North American Gala Ceremony, held recently at Sandals Ochi Beach Resort in Ochos Rios, Jamaica. The award further cements the twin island nation’s position as the leader in the Wedding, Honeymoon and Romance market. Antigua and Barbuda were nominated against 12 other destinations in the ‘Caribbean’s Most Romantic Destination,’ category. The World Travel Awards were founded in 1993 to recognize, acknowledge and reward excellence in travel, tourism and hospitality industry worldwide, and 23 years later it is now recognized globally as the hallmark of quality, with winners setting the benchmark to which all other aspire. In addition, Antigua and Barbuda were also nominated for awards in the following categories: ‘Caribbean’s Leading Airport Lounge,’ ‘Caribbean’s Leading Adventure Tourist Attraction,’ ‘Caribbean’s Leading Beach Destination,’ ‘Caribbean’s Leading Destination,’ ‘Caribbean’s Leading Honeymoon Destination,’ and ‘Caribbean’s Leading Tourist Board. In addition, Antigua and Barbuda properties were nominated in all of the leading categories including Sandals Grande Antigua Resort and Spa winning, ‘Caribbean’s Most Romantic Resort.’ “Antigua and Barbuda is known throughout the world as being one of the world’s most romantic destinations; offering miles of beautiful beaches and cerulean water; privacy and intimacy for visitors, enhancing the romantic feel and award-winning spas, restaurants and water and land activities. We truly believe what sets visitors’ experience apart is the genuine warmth and hospitality of the people of Antigua and Barbuda. Winning this award is a true honor and we are incredibly proud of this recognition of the hard work everyone has done to provide the best holiday experience possible for all visitors, no matter the reason for their visit,” said Kim Jack Riley, Director of Tourism, USA of the Antigua and Barbuda Tourism Authority of the win. Being nominated in 8 categories, and winning ‘Caribbean’s Most Romantic Destination,’ is an incredible honor, and recognition for Antigua and Barbuda, and everything it has to offer visitors and the hard work the twin islands has done to attract new visitors. The resulting increase in awareness and visibility of Antigua and Barbuda, with new flight options, properties for every price point and desire, over 127 activities to choose from and 365 beaches has resulted in visitors from around the globe falling for the twin islands. ¤ Courtesy: Marketwired

OECSBusinessFocus Jan / Mar |

TOURISM

Five New I Reasons To Visit Martinique Five New Reasons To Visit

f you’ve been thinking about visiting Martinique in the coming months, stop thinking and start packing! The bijoux French-Caribbean island packs Caribbean style and Continental sophistication into every inch of its 420-square-mile footprint, making it appealing to both veteran Caribbean travelers Martinique and adventurous newbies. CJ sat down with Martinique’s tourism commissioner Karine Mousseau and general director of tourism Joëlle Desir while they were in Miami recently and got the execs’ take on the newest reasons to see the Caribbean gem this coming season. Allons y!

By: Sarah Greaves-Gabbadon

Caribbean Journal Travel Editor

OECSBusinessFocus Jan / Mar |

New Ways to Get There It’s never been easier (or cheaper!) to reach Martinique than it is now. American Airlines will whisk you to Fort-de-France from Miami on non-stop 3½ -hour flights as many as six times a week. And, beginning in November, low-cost carrier Norwegian Air will offer thrice-weekly non-stops from New York-JFK, and twice-weekly service from Boston and Washington DC (BWI). The best part: Prices start at just $49 one-way! Or, if you need to connect through San Juan, Seaborne runs flights www.oecsbusinessfocus.com

Martinique Sees Huge Jump In US, Canadian Visitors

artinique is booming. The French Caribbean department is seeing a significant increase in visitors from the United States and Canada, following a concerted push in recent years to focus on the North American market. This year’s peak tourist season saw a 179 percent increase in visitors from North America, with just under 17,000, up from 6,071 in the 2014-2015 tourist season, according to data provided to Caribbean Journal by the Martinique Tourism Authority. The jump has come from a number of factors, most notably the launch of nonstop flights from Miami to Fort-de-France on American Airlines, along with last year’s launch of nonstop flights on Norwegian from a number of northeastern US destinations. The island is poised to build in these gains, with continued flight service and the launch of more new hotels. Chief among them is the Hotel Simon, a new boutique hotel in the Fort-de-France urban core that includes a new eatery helmed by a Michelin-starred local chef, Marcel Ravin. The other, French Coco, is set in the hills above the beach town of Tartane on the island’s Atlantic coast. Martinique has also had success marketing its rum production with what’s effectively the Napa Valley of rum, with 11 distilleries making rhum agricole, or rum distilled from sugarcane juice, not molasses. It’s all adding up to what’s becoming one of the more in-demand destinations in the Caribbean for high-income travelers from the US and Canada. ¤ Courtesy: Caribbean Journal

from Puerto Rico three times a week, too. New Places To Stay There are more than 3,500 hotel rooms on Martinique and this winter there’ll be even more with a pair of new digs making their debut. Check out Le Simon, a 95-room contemporary roost, which opened last January in the capital and is a superb choice for business travelers. In the fishing village of Tartane, French Coco offers 17 suites that meld traditional French Creole style with modern luxury, and a restaurant led by a protégée of famed French chef, Alain Ducasse.

the imposing sight of local artist Laurent Valère’s concrete slave memorial at Anse Caffard, you’ll want to return to Martinique to see his latest work. This time Valère takes his talent to the water, with two mammoth subterranean sculptures that are the beginning of an underwater gallery for snorkelers and divers. Installed last December in the sandy depths of the Baie de SaintPierre, Yemaya is a 40-foot-long siren, which pays tribute to the power of the sea and the mythical female creature, as well as providing an artificial reef for sea life.

New Ways To Get Around You can’t leave the country without seeing its waterfront capital, Fort-de-France, where Schoelcher Library, the grand marché and the statue of Empress Josephine are must-sees. The city center is walkable, but now even easier to get around with the introduction this summer of a fleet of petite blue hop-on/hop-off buses, which offer free rides around town (which, by the way, now has free WI-FI).

Martinique Carnival So you’ve partied in Port of Spain and “wukked up” at Barbados’ Crop Over. Now your bacchanaling bod to Martinique next year for a pre-Lenten Carnival that continues for a day longer than other Caribbean celebrations, straight through Ash Wednesday. Mark your calendars for February 26 to March 1, 2017, and prepare to courez le vidé through the streets of Fort-de-France. ¤

New Things To See If you’ve visited before and been awed by

Courtesy: Caribbean Journal OECSBusinessFocus Jan / Mar |

YOUTH IN FOCUS

CXC Announces 2016 Regional Awards Jamaica and Guyana Students Top CAPE and CSEC

CXC Announces 2016 Regional Awards

Jamaica and Guyana Students Top CAPE and CSEC

wo students, one each from Dominica and Grenada have created history by becoming the first students to be awarded regional top awards for the Caribbean Certificate of Secondary Level Competence (CCSLC). The first recipients, Jason Philip of Presentation Brothers College, Grenada and Keiana Brown of Northeast Comprehensive School, Dominica received their awards at the CXC Council and Regional Top Awards Ceremony held on Thursday 1 December at the Hilton Hotel on Barbados. Both students achieved five subjects including Mastery in CCSLC English and Mathematics.

Jamaican Student Tops CAPE For the first time in the ten-year history of regional awards for the Caribbean Advanced Proficiency Examination (CAPE), the sister of a former awardee is the winner of the Dennis Irvine Award, the symbol of academic excellence at the CAPE level.

Students from schools in Jamaica “dominated the 2016 Caribbean Secondary Education Certificate Regional Top Awards list, however, a student from Queen’s College in Guyana is this year’s Most Outstanding Candidate Overall.

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OECSBusinessFocus Jan / Mar |

Varna Thomas of Ardenne High School in Jamaica is the winner of this year’s Dennis Irvine Award. Varna is the sister of 2013 winner Dea Thomas also of Ardenne High School. Varna achieved Grade I in 12 CAPE Units: Applied Mathematics Units 1 and 2, Biology Units 1 and 2, Caribbean Studies, Chemistry Units 1 and 2, Communications Studies, Physics Unit 1 and 2, and Pure Mathematics Units 1 and 2. Larissa Wiltshire of Queen’s College, Guyana is the winner of the award for the Outstanding Candidate in Natural Sciences with Grade I in 12 Units.

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Trinidad and Tobago Students Dominate CAPE Awards The other awards were taken by students from Trinidad and Tobago. Joshua Ramkissoon of Hill View College ensures the Award for Most Outstanding Performance in Mathematics stays at Hill View for a second consecutive year. He achieved the award with Grade I in ten Units: Applied Mathematics Units 1 and 2, Caribbean Studies, Communications Studies, Chemistry Units 1 and 2, Physics Units 1 and 2, and Pure Mathematics Units 1 and 2. Raquel Leblanc of St Joseph’s Convent (Port of Spain) receives the award for Most Outstanding Candidate in Business Studies with Grade I in ten Units. Two students from Naprima Girls’ High School are among the awardees. They are Saajida Baksh who wins the Humanities Award, which is sponsored by Hodder Education; and Ilisha Manerikar who takes the Language Studies Award, both with eight Units at Grade I. Shabanah Mohammed of ASJA Girls, (San Fernando) is the winner of the Environmental Science Award with Grade I in eight Units. For producing the Most Outstanding Candidate Overall in 2016, Ardenne High School, Jamaica, receives the award for the CAPE School of the Year, the second time in four years. Queen’s College, Guyana Student Tops CSEC while Jamaica Dominates. Students from schools in Jamaica dominated the 2016 Caribbean Secondary Education Certificate (CSEC) Regional Top Awards list, however, a student from Queen’s College in Guyana is this year’s Most Outstanding Candidate Overall.

Document Preparation and Management, Geography, Human and Social Biology, Information Technology, Integrated Science, Mathematics, Physics, Principles of Accounts, Principles of Business, Religious Education, Social Studies and Spanish. Three students from Jamaica are in winners row this year, the most for any one country at CSEC. Sahara Pinnock of Holy Childhood High School cops the Business Studies Award with Grade I in ten subjects. Danielle Williams of Campion College gets the Award for the Best Short Story. The story is based on the stimulus: “He looked nervously around him and decided that the time was right. It was now or never.” The other Jamaican awardee is Jevauny Simpson of St Georges College for Most Outstanding Performer in 2-Dimensional Art in the Visual Arts examination. Sydni Walker of St Joseph’s Convent, Grenada gets the Award for Most Outstanding Performer in Humanities. Sydni achieved Grade I in ten subjects and Grade II in one subject. Glevaughn Smith of Edward P Yorke High School in Belize is the winner of the Technical/Vocational Award with 16 subjects, 14 Grade Is and two Grade IIs. Moesha Tyson has ensured that Bishop Anstey High School of Trinidad and Tobago has a hat-rick of wins in the 3-Dimensional Art Award. Moesha’s piece is taken from the Sculpture and Ceramics Option and is entitled “Old Boot.” The awardees received their prizes at a ceremony held at the Hilton Hotel in Barbados on Thursday 1 December 2016. ¤

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Kayshav Tewari of Queens’ College achieved Grade I in 19 subjects to win the Most Outstanding Candidate Overall Award. He also wins the Award for the Most Outstanding Candidate in the Sciences. He achieved Grade I in: Additional Mathematics, Agricultural Science (Double Award), Biology, Chemistry, Economics, English A, English B, Electronic

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OECSBusinessFocus Jan / Mar |

YOUTH IN FOCUS

OECS 30 Under 30 Promotes

Entrepreneurship Amongst Youth

OECS 30 Under 30 Promotes Entrepreneurship Amongst Youth

n an effort to recognise and encourage entrepreneurship amongst youth, the Organisation of Eastern Caribbean States (OECS) has launched the OECS 30 Under 30 campaign that seeks to identify young entrepreneurs making strides in the OECS. Entrepreneurship is at the heart of Caribbean life, from the vendors in our villages and city centres, the numerous people with “side hustles”, to the regional Caribbean businesspersons. Entrepreneurship is woven throughout our economies and our lives. The OECS 30 Under 30 initiative will recognise 30 young entrepreneurs, under the age of 30, as examples of youth success in entrepreneurship. Entrepreneurs can be from any discipline/industry including, but not limited to, Art & Fashion Design, Business, Technology, Agriculture, Sustainable Development, Social Development, and Entertainment. Aside from the kudos of being chosen within the 30 Under

OECS Celebrates Completion of Inaugural

Internship Programme

30 cohort, these young individuals will also be part of a very exciting entrepreneurship development programme in the OECS. Through this programme, young persons will: • Be accepted as a cohort for business support by the OECS Competitive Business Unit • Receive mentorship to aid their professional and business development • Receive technical assistance • Be assisted in sourcing markets and financial inputs

Public nominations and self-nominations for the OECS 30 Under 30 are welcome. Nominations are open until November 30, 2016 and can be submitted at the following link: http:// www.oecs.org/index.php/oecs-under-30-entrepreneur-form All entrepreneurs regardless of business size, years of operation and business industry will be considered. Entrepreneurs must, however, be under the age of 30 and be a citizen/resident of an OECS member state. ¤ As part of the ceremony, three interns were recognized as top performers in the Programme. These three interns, Shanya Evans; Racquel John; and Asha Nelson, were credited for their skills, work ethic and disposition as well as their ambition in performing above and beyond expectations. In her statement on behalf of the intern graduating class, Asha Nelson expressed “I hope that the OECS YES Internship is continued. It is beneficial and encourages our youth to envision themselves as a valuable resource.

he OECS Commission held a Graduation Ceremony last OECS Celebrates Completion Inaugural Internship Programme Friday to commemorate the completion of its firstofever OECS Digital Internship Programme. Thirteen individuals “By self-investment through internships one can deconstruct the from 3 OECS member states graduated from the three- realm of unemployment. On behalf of myself and my intern class, month online course. The Programme was coordinated and led by Digital Media Consultant to the OECS, Anushka Singh. Through an online platform, Ms. Singh provided training in Digital Marketing while having the interns contribute to the launch and execution of the OECS YES Digital Media Strategy. The development of the Internship Programme further facilitated the development of the overarching OECS Youth Strategy by allowing youth to have handson involvement in initiatives for their peers. In her address at the ceremony, Singh outlined her vision for this inaugural Internship Programme. “My intention here was to expose these young people to tasks outside of their comfort zones. To incite in them a passion for Digital Marketing – a role that involves planning, coordination, strategy, design, writing and reporting. “Apart from these technical skills they were also exposed to organizational and collaborative skills needed in the workplace such as time management, communication, and most of all teamwork,” Singh said. OECSBusinessFocus Jan / Mar |

“13 OECS Nationals Graduate From Three-month Course”

I once again express our sincere gratitude for the opportunity the OECS Commission, Dr. Didacus Jules and Anushka Singh have provided for us. “I leave by saying this to my fellow youths across the Caribbean region, ‘If you want to go fast go alone, if you want to go far go together,’” Nelson said. Director General of the OECS Commission, Dr. Didacus Jules, expressed his satisfaction with the overall Internship Programme and the work of the interns in the success of the OECS YES platforms. Dr. Jules also urged young persons to be open to exploring opportunities across the region and across the world, stating that these young graduates have a significant advantage having worked for a regional organisation. ¤ www.oecsbusinessfocus.com

Queens Young Leaders 2017 Announced 7 OECS National Included

Queens Young Leaders 2017 Announced

7 OECS Nationals Included

he prestigious award has been granted to 60 young people from around the Commonwealth in recognition of the incredible work they have done in their home nations.

Prince Harry, whilst on tour in Barbados on behalf of The Queen met an award winner and at a spectacular gala concert to celebrate 50 years of Barbados independence.

Now in its third and penultimate year, the winners become part of the growing Queen’s Young Leaders community, a network of influential young changemakers who are being supported to become an even greater force for good.

His Royal Highness gave a speech congratulating winner Jamella Sealy, and all the leaders for 2017.

All award winners will receive their accolade from Her Majesty The Queen in a ceremony in 2017, such as the winners from 2016 pictured above.

Jamella is working to raise awareness

was established in 2014 by The Queen Elizabeth Diamond Jubilee Trust in partnership with Comic Relief, The Royal Commonwealth Society and the University of Cambridge’s Institute of Continuing Education, in recognition of The Queen’s lifetime of service to the Commonwealth. Each year for four years, the leaders receive bespoke training, mentoring and networking opportunities, and take part in a week-long residential programme in London.

The Queen’s Young Leaders “ Award is designed to inspire and nurture the talent of exceptional young people from all over the Commonwealth...

This year, award winners, who are aged between 18 and 29, are leading projects tackling global issues including education, climate change, gender equality, mental health and disability equality.

In the UK winners include Usman Ali, aged 24, from Glasgow. He has been chosen in recognition of his work to improve employment opportunities for young people from disadvantaged backgrounds. Alex Holmes from Hertfordshire has also been acknowledged for his commitment to ending bullying in schools.

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about the importance of protecting the environment in Barbados and is a member of the Caribbean Youth Environment Network.

As well as teaching environmental science to children aged 11 to 19, she coordinates projects such as consultations with the community on climate change and beach clean-ups.

Trust said.

“We are delighted that these incredible young people have been selected as Queen’s Young Leaders, and wish our warmest congratulations to each and every one of them,” Dr Astrid Bonfield CBE, Chief Executive of The Queen Elizabeth Diamond Jubilee

“The Queen’s Young Leaders Award is designed to inspire and nurture the talent of exceptional young people from all over the Commonwealth, so that they can create and lead others towards securing positive changes in communities,” she added. ¤

The Queen’s Young Leaders Programme OECSBusinessFocus Jan / Mar |

ENVIROMENTAL FOCUS

UN Agencies, Regional Partners Convene On Sustainable Fisheries, Healthier Marine Environment

he UN, OECS and other key partners of the Caribbean and North Brazil Shelf Large Marine Ecosystems Project (“the UNDP/GEF CLME+ Project”) assembled recently in Miami to discuss and plan coordinated action towards the sustainable management and use of living marine resources in the region. Pollution, habitat degradation and unsustainable fisheries and fishing practices have increasingly impacted ecosystem health in the CLME+ region. To address these issues, the region adopted a 10-year Strategic Action Programme (“the CLME+ SAP”, 20152025), working towards the long-term vision of “a healthy marine environment that provides benefits and livelihoods for the wellbeing of its people”. The action programme, which to date has been politically endorsed by 24 countries, is being catalysed through a 5-year project, “the CLME+ Project”, implemented by the United Nations Development Programme. The Project which is supported by the Global Environment Facility through a grant of USD 12,5 million, initiated activities in 2015.

flying fish, shrimp and ground fish, as well as key marine and coastal habitats such as mangroves and coral reefs. To support CLME+ Project and SAP implementation, a growing alliance of partner organisations is now under the making, including CLME+ countries, several UN bodies, Inter-Governmental Organisations and Non-Governmental Organisations native to the CLME+ region.

Meetings

The first two days of meetings saw the CLME+ Project Executive Group convene for its second session since the project´s start in 2015, with representatives from CANARI, CERMES-UWI, CRFM, GCFI, FAO, IOC of UNESCO/IOCARIBE, OSPESCA, UNEP-CEP, UNDP GEF, UNOPS and the CLME+ Project Coordination Unit (PCU). They examined current project progress, shared experiences through presentations and discussions, and reviewed the work plan for the coming year.

It will facilitate Ecosystem-Based Management and the implementation of an Ecosystem Approach to Fisheries in the region. It gives special attention to key fisheries, such as spiny

The session followed up on the recommendations of the first meeting of the CLME+ Steering Committee, which was held earlier this year in Cartagena, Colombia, and which counted with the participation of representatives from 22 countries.

lobster,

Over the next two days, representatives from the following InterGovernmental Organisations with a formal mandate for fisheries and environmental protection in the region convened to evaluate and further plan overall progress under the 10-year CLME+ Strategic Action Programme: UNEP CEP, IOC of UNESCO, FAO/FAOWECAFC, OECS Commission, CARICOM Secretariat, CRFM and OSPESCA. Forthcoming work expected under the CLME+ Project and SAP includes, amongst others the initiation of the development of regionwide action plans to deal with illegal, unregulated and unreported fishing, the protection and restoration of key marine habitats, the reduction of pollution from landbased sources, and the development of a collaborative effort to map and report on the state of the marine ecosystems in the region.

OECSBusinessFocus Jan / Mar |

www.oecsbusinessfocus.com

About

CLME+ Project The UNDP/GEF CLME+ Project is a 5-year project (2015-2020) implemented by the United Nations Development Programme (UNDP) and co-financed by the Global Environment Facility (GEF). The CLME+ Project is executed by the United Nations Office for Project Services (UNOPS), in close collaboration with a large number of global, regional and national-level partners. The regional Project Coordination Unit is located within the IOCARIBE Offices of the IOC of UNESCO, in Cartagena, Colombia.

CANARI

The Caribbean Natural Resources Institute aims to promote and facilitate equitable participation and effective collaboration in the management of natural resources critical to development in the Caribbean islands, so that people will have a better quality of life and natural resources will be conserved, through action learning, research, capacity building, communication and fostering partnerships.

CERMES/UWI

The mission of the Centre for Resource Management & Environmental Studies of the University of the West Indies is to make a significant contribution to sustainable development in the Caribbean region. It responds to the concerns of member countries regarding incorporation of environmental issues into sustainable development by creating a multidisciplinary programme.

CARICOM

The Caribbean Community is a grouping of twenty countries, stretching from The Bahamas in the North to Suriname and Guyana in South America. It is home to approximately sixteen million citizens. CARICOM rests on four main pillars: economic integration, foreign policy coordination, human and social development and security.

CRFM

The Caribbean Regional Fisheries Mechanism is an intergovernmental organisation and specialized institution of the CARICOM mandated to promote and facilitate the responsible utilisation of fisheries and other aquatic resources in the region.

FAO¬-WECAFC

The general objective of the Western Central Atlantic Fishery Commission of the Food and Agricultural Organisation of the United Nations is to promote the effective conservation, management and development of the living marine resources of the area of competence of the Commission, in accordance with the FAO Code of Conduct for Responsible Fisheries, and address common problems of fisheries management and development faced by members of the Commission.

GCFI

The Gulf and Caribbean Fisheries Institute is a not-for-profit organisation that promotes the exchange of information on the use and management of marine resources in the Gulf and Caribbean region. GCFI endeavours to involve scientific, governmental, and commercial sectors to provide a broad perspective on relevant issues, and to encourage dialogue among groups.

costs of measures designed to achieve global environmental benefits.

IOC of UNESCO/IOCARIBE

IOCARIBE is a regional subsidiary body of the UNESCO Intergovernmental Oceanographic Commission (IOC). It is the IOC Sub-Commission for the Caribbean and adjacent regions and is responsible for the promotion, development and coordination of IOC marine scientific research programmes, the ocean services, and related activities, including Capacity Development for the benefit of its Member States.

OECS

The Organisation of Eastern Caribbean States (OECS) is the intergovernmental organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance between countries and dependencies in the Eastern Caribbean. The OECS came into being on June 18th 1981, when seven Eastern Caribbean countries signed a treaty agreeing to cooperate with each other while promoting unity and solidarity among its Members. The Treaty became known as the Treaty of Basseterre, so named in honour of the capital city of St. Kitts and Nevis where it was signed. The OECS today, currently has ten members, spread across the Eastern Caribbean comprising The British Virgin Islands, Anguilla, Antigua, St. Kitts and Nevis, Montserrat, Dominica, Martinique, Saint Lucia, St. Vincent and the Grenadines and Grenada.

OSPESCA

The role of the Central America Fisheries and Aquaculture Organisation is to encourage the development and the coordinated management of regional fisheries and aquaculture activities in the context of the Central American integration process.

UNDP

The United Nations Development Programme helps countries developing policies, leadership skills, partnering abilities, institutional capabilities and building resilience in order to sustain development results. As a GEF Agency, UNDP implements a global portfolio of GEF co-funded Large Marine Ecosystem projects, among which the CLME+ Project.

UNEP-CEP

The Caribbean Environment Programme of the United Nations Environment Programme provides the programmatic framework for the Cartagena Convention adopted in 1983. This Convention is a regionally binding treaty that seeks to protect and develop the marine environment of the Wider Caribbean Region.

UNOPS

The United Nations Office for Project Services mission is to serve people in need by expanding the ability of the United Nations, governments and other partners to manage projects, infrastructure and procurement in a sustainable and efficient manner. ¤ Courtesy: OECS Newsroom

GEF

The Global Environment Facility is a financial mechanism that promotes international cooperation and fosters actions to protect the global environment. The GEF helps developing countries and those with economies in transition to meet the agreed incremental OECSBusinessFocus Jan / Mar |

ENVIROMENTAL FOCUS

New Zealand Invests In

Geothermal Energy Exploration In Dominica

New Zealand Invests In Geothermal Energy Exploration In Dominica

he government of Dominica and the government of New Zealand expanded their cooperation in geothermal energy development with the signing of a NZ$2.05 million (US$1.5 million/EC$4 million) partnership agreement to support the construction of a 7 MW geothermal power plant in Dominica. The agreement was signed between the ministers of foreign affairs, Francine Baron of Dominica, and Murray McCully of New Zealand. Since 2014, the government of New Zealand has been providing the government of Dominica with technical assistance for the development of Dominica’s geothermal resources. The new partnership will expand the technical assistance and be based on an implementation time-frame of 2016 to 2019. It will include:

• Technical advice for the front end engineering and design; • Project management support to help progress the project through tendering and award of contracts so that construction can commence; • An environmental and social impact assessment, management plan and management system; and • A project manager, to be seconded into the Dominica Geothermal Company to coordinate all activities to execute the project for a period of up to 24 months once the EPC contract has been signed, commencing in 2017 and concluding in 2019.

The assistance from New Zealand will provide the government of Dominica with the technical expertise required to realize the construction of the 7 MW geothermal power plant to be commissioned in 2019. ¤ Courtesy :Caribbean News Now

OECSBusinessFocus Jan / Mar |

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Falklands, Montserrat Sign Marine Spatial Environment Partnership Accord

Falklands, Montserrat

Sign Marine Spatial Environment Partnership Accord

K Overseas Territories governments of the Falkland Islands and Montserrat have signed an agreement that facilitates a Territory to Territory partnership with the purpose of transferring knowledge and skills from the South Atlantic and the Caribbean. The skills and knowledge transfer will focus on information management and marine spatial planning. The agreement was signed by Montserrat Agriculture and Environment minister Claude Hogan and for the Falklands Member of the Legislative Assembly Mike Poole. The project is facilitated by the Joint Nature Conservation Committee (JNCC), a UK government agency.

economic and other data already available and that which will become available in the future in the marine and terrestrial environments. The project aims to build on existing systems and link into ongoing projects. The project will assist the Government of Montserrat to: Formulate a data infrastructure appropriate to the island’s needs to support its marine and terrestrial spatial planning in the context of environmental management and socio-economic development; Improve the legal framework for sustainable management and use of the ocean resources; and Formulate a strategy to implement Marine Spatial Planning.

“This Agreement represents a major break-through by The partnership project is working towards a visit the Government of Montserrat to manage and coin November by Falklands experts, including ordinate developments in Montserrat’s Dr Paul Brickle, SAERI Director, to marine environment. This will benefit our undertake a consultation with their local Fishers, the Tourism Industry, our This is a welcome venture Montserrat counterparts. People in general, and finally Montserrat Dr Paul Brickle, Director of South will have a properly equipped Ocean for the GoM to help us better Atlantic Environmental Institute Governance Unit”, underlined Mr. understand and utilize our (SAERI) said, “We are very excited Hogan. to be delivering this work for marine space, now and for our Montserrat on behalf of the MLA Poole said that sharing expertise and experience between Territories has Falkland Islands Government. SAERI future generations. always been something that the Falkland has developed a Marine Spatial Islands Government has been proactively Planning model (under a Darwin working on. initiative-funded project) and a complementary data management model ”We set up the South Atlantic Environmental Research (under an FCO-funded project) that have seen us Institute (SAERI) to have a territory-based, territory-led research develop these processes and systems for small islands with institution that can develop expertise within the region and finite resources. We are keen to share this work and examples beyond. We are very pleased that our strong partnerships with with Montserrat and work together to adapt them and develop other OTs and with the JNCC have led to the exciting initiative solution to these focal areas on Montserrat.” ‘T2T’ sharing skills knowledge and expertise with our colleagues in Montserrat. We are honored to have been invited to actively Mr Alwyn Ponteen, Chief Fisheries Officer, Montserrat concluded, contribute to this partnership”. “This is a welcome venture for the GoM to help us better understand and utilize our marine space, now and for our future The project will focus on enhancing Montserrat’s capacity to generations”. ¤ manage the large amounts of environmental, agricultural, socioCourtesy: MercoPress

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OECSBusinessFocus Jan / Mar |

Events

events 2017

MiaGreen 2017 January 24 – 25 , 2017. Miami Airport Convention Center, Miami, Florida . Show Winners Corporation proudly announces for 2017 a Special edition of the MiaGreen event as MiaGreen 2017: The Conference! presenting “The SUMMIT for Solar, Energy Storage & Sun Light in Latin America and The Caribbean”. MiaGreen 2017 will host 3 days of major Conferences, Matchmaking and Networking sessions to Connect Top Players in these fields. Event organizers will attract CEO’s, Presidents, Consultants, Governmental Officials, Developers, Engineers, Manufacturers, Distributors... from the region to discuss investing and developing opportunities in Latin America and the Caribbean in a unique MiaGreen edition. For further information: www.miagreen.com

17th Annual CARIBBEAN ENERGY CONFERENCE January 26-27, 2017 Renaissance Jaragua Hotel & Casino Santo Domingo, Dominican Republic.

Gain Insights on Key Issues Facing the Caribbean, Including: • Energy Policies—Effective development, implementation, and enforcement for the transition to the Caribbean’s energy future • Fuel Options—Costs, logistics, infrastructure and technology requirements for LNG vs. LPG vs. HFO • Renewables—Policies and progress on wind, solar, and geothermal project development • Energy Efficiency and Distributed Generation—Implementing smart grids, smart metering, and energy efficient buildings

CHTA Caribbean Travel Marketplace ALL TOURISM · ALL CARIBBEAN · ALL BUSINESS January 31 – February 2, 2017 Atlantis Paradise Island The Bahamas. Caribbean Travel Marketplace affords tourism suppliers the opportunity to meet faceto-face with wholesalers from around the world selling Caribbean vacation travel over the course of two days of business meetings. F

Caribbean Hardware & Construction Trade Show 11th February to 12th February 2017 Hilton Embassy Suites in Bayamon, Puerto Rico.

Caribbean Hardware & Construction Trade Show is a 2 day event which showcases products like power tools, electrical, plumbing, house wares, paint, home decor based products and services associated with this field etc. in the Building Construction, Hand, Machine & Garden Tools industries.

CARILEC CEO’s and Finance Conference 16th-19th May 2017 Gros Islet, Saint Lucia

The CARILEC Chief Executive Officers & Finance Conference is the only Conference in the Caribbean where all Utility CEO’s & CFO’s gather to discuss opportunities, challenges, cutting-edge methodologies and best practices that will empower participants to better serve the countries in which we conduct business. The conference will showcase the uniqueness of merging CEO’s with Finance thereby highlighting topics on leadership, financial management, energy law & policy reform, and change management. It will provide insights into contemporary issues relating to the energy sector and approaches to leading the Caribbean energy sector with a renewed vision. For further info: www.carilec.com OECSBusinessFocus Jan / Mar |

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MAJOR MOVES

OECS Business Focus looks at Corporate Transitions

Sharlene CartwrightRobinson elected new Premier of the Turks and Caicos Islands and First Female Premier Governor of the Turks and Caicos Islands (TCI), Dr John Freeman, held a ceremony to swear-in the newly elected Premier, Sharlene CartwrightRobinson, and other members of the Cabinet appointed following the general elections held on December15. The Governor congratulated the new Premier and the islands first female Leader of Government on her election victory and said that he looked forward to working closely with her and her government in the period ahead. Governor Freeman also signed the appointment instrument of the new Leader of the Opposition, Washington Misick

John Reid, Chief Executive of C&W, said, “Our business is entering a new phase of its development and evolution, and I am excited about the expertise, experience and passion for customers that Garry brings to what is a critical role.” As Head of the Caribbean, C&W said Mr. Sinclair will be responsible Majorexecution, Moves financial for the strategic performance and reputation of the Caribbean business, developing the company’s growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, and capturing the growing demand for business-tobusiness services. For the past seven years as CEO of Cable & Wireless Jamaica, he has grown the mobile subscriber base from 200,000 to almost 1 million customers, a press release states. Mr. Sinclair was previously President and COO of investment bank Dehring Bunting & Golding. He also occupies a range of board appointments which include financial institutions, youth empowerment and the Jamaica Football Federation. Dwight Lay is the new General Counsel at the OECS Commission.

Orin Gordon, new Head of ACCA Caribbean

Garfield Sinclair, President Caribbean for Cable & Wireless Communications

Cable & Wireless Communications has appointed Garfield “Garry” Sinclair as President -Caribbean for Cable & Wireless Communications, effective Jan. 1, 2017. He has responsibility for operations in 15 territories across the region, including C&W’s Jamaica, Trinidad and Barbados markets.

Orin Gordon, a Guyanese national has been appointed as the new Head of Caribbean for the Association of Chartered Certified Accountants (ACCA). Orin assumes the leadership with immediate effect and replaces Brenda Lee Tang who left the organisation after 15 years, eight of them at the helm. A seasoned media professional, Gordon holds an MBA from the University of Oxford and brings a considerable wealth of knowledge and experience; most recently being the editor-in-chief of the T&T Guardian. Prior to this he’d worked as presenter, reporter and analyst at BBC

Business News, worked at BBC News, and had formerly been head of BBC Caribbean, the BBC’s World Service’s Caribbean unit. In his role as Head of ACCA Caribbean, Orin will provide strategic and visionary leadership across the region by working with partners, members, affiliates and all stakeholders to carry on raising ACCA’s presence and reputation in the region. He will also support the needs of members in the Caribbean ensuring ACCA works to promote and support them at every opportunity to increase value to all ACCA stakeholders.

Rudy Grant, Chief Executive Officer Barbados Hotel and Tourism Association

Rudy Grant, a former Barbados Senator, takes up the post effective December 1, succeeding Sue Springer, who spent 15 years at the helm of the Association. Grant, who also served as Parliamentary Secretary in Barbados’ Ministry of Tourism and International Transport from 2003 to 2008, has been previously employed as CEO of the Grenada Tourism Authority from 2014. In his new role, he reports to the BHTA’s Board and will be responsible for directing and managing the Association’s affairs so that it’s strategic goals and the relevant needs of the membership are met. His other duties include planning, formulating and recommending policies and programmes while promoting greater understanding and awareness of the economic and social contribution of tourism to the Barbadian economy. Grant, 52, holds a Bachelor of Arts Degree specialising in Economics from Mount Allison University, Canada (1990); a Post Graduate Diploma in Management and Administration from Bradford University, England (1999); and a Bachelor of Laws degree (LLB) from University of London (2011). OECSBusinessFocus Jan / Mar |

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MAJOR MOVES

OECS Business Focus looks at Corporate Transitions

Dr. Brian Francis is the new Director of the Economic Affairs and Regional Integration Division at the OECS Commission. He is responsible for Regional Integration, Competitive Business, Economic Development Policy including Agriculture and Tourism; Research, Data, Management and Visualization; Trade Policy and Negotiations; and the OECS Mission in Geneva. Dr. Francis is a former Permanent Secretary / Director-General in the Ministry of Finance in Grenada and also served as Economic Advisor to the Government and Permanent Secretary in the Prime Minister’s Ministry. Dr. Francis has also worked as the Chief Senior Research Officer in the Ministry of Tourism, Barbados; an Economist at the Eastern Caribbean Central Bank; and most recently as a Senior Lecturer in the Department of Economics at the UWI, Cave Hill Campus since 2004. He has undertaken consultancies for a number of Regional and International Organisations as well as Governments and has served on the Board of Directors of various local, regional and international organisations including the Caribbean Development Bank, the Eastern Caribbean Central Bank Monetary Council, the International Monetary Fund and the World Bank. Dr. Francis holds a PHD in Economics from the University of Florida with specialisation in International Trade and Economic Development; an MSc in Development Finance from the University of London; and a BSc in Economics (with first class honours) from the UWI, Cave Hill Campus, Barbados. Dwight Lay is the new General Counsel at the OECS Commission. He heads the Legal and Governance Division and oversees all legal matters for the OECS including corporate affairs. Prior OECSBusinessFocus Jan / Mar |

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to joining the OECS he worked extensively as a Barrister and functioned as a legal representative for the Government of Saint Lucia. He earned his Master of Laws Degree from the Cave Hill Campus of the University of the West Indies. He obtained his Bar Vocational Certificate from the College of Law in London, England and his Bachelor of Laws (Honours) Degree from the University of Wolverhampton in the United Kingdom. In 2008 Mr Lay was awarded a Diploma in Regional Trade Policy from the Mona Campus of the University of the West Indies and was awarded a Certificate in Public Administration from the Cave Hill Campus of the University of the West Indies. Mr Lay is admitted to the Bar of the Eastern Caribbean Supreme Court in Saint Lucia and was admitted to the Bar of England and Wales in October, 2000. Mr Lay is a member of The Hon. Society of Lincoln’s Inn, London and the Saint Lucia Bar Association. Guy Mayers is Saint Lucia’s new High Commissioner to London.

Prime Minister Hon. Allen M. Chastanet in a recent statement to the Saint Lucia House of Parliament announced that Mr. Mayers’ appointment has been approved by the Prime Minister of the United Kingdom and on behalf of the Saint Lucia Government, expressed congratulations to Mr. Mayers. Speaking of his appointment Mr. Mayers expressed thanks to the Prime Minister and the Government and stated that he was honoured to hold the post. “I look forward to pursuing and articulating the policies of the Government, and to help attract foreign investment to our country. I am mindful of our current unemployment situation and I

hope to facilitate opportunities for young people. I pledge to make my country proud.” Mr. Mayers is a former President of the Saint Lucia Chamber of Commerce and previously served in the Saint Lucia Government as Minister of Trade and Industry and Minister for Home Affairs and National Security.

Richard ‘Ricky’ Skerritt has been appointed Chairman of the Antigua and Barbuda Tourism Authority (ABTA) Board of Directors. Skerritt will also serve as an Advisor to the Minister of Tourism Hon Asot Michael. As NonExecutive Chairman of the ABTA, Mr. Skerritt will be responsible for overseeing the development of policies and strategies designed to strengthen Antigua and Barbuda’s reputation as a world-class tourism and travel destination. In announcing the recent appointment Minister Michael said, “I am very excited that Ricky Skerritt has agreed to join our Tourism leadership team. We have already begun taking a number of important steps towards revitalizing our tourism product, and Mr. Skerritt’s advice and leadership will be invaluable to us going forward.” Ricky Skerritt served as Minister of Tourism in St. Kitts and Nevis for more than ten years between 2004 and 2015. During his outstanding tenure, Skerritt became well known for his change leadership role in driving economic transformation. He was responsible for designing and implementing strategies, rooted in sustainability, which modernized, diversified and grew the St. Kitts tourism economy. Skerritt, a former Caribbean Rhodes Scholar, is also a former Chairman of the Caribbean Tourism Organization (CTO).

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MAJOR MOVES

OECS Business Focus looks at Corporate Transitions Ms. Francine Stewart is the new Marketing Manager at the Grenada Tourism Authority (GTA). Ms. Stewart’s functions include the interaction with key private and public sector partners, the execution of all marketing programmes, and the management of marketing expenditure. The new Marketing Manager brings a wealth of knowledge and expertise to the GTA, having been previously employed by Sandals LaSource Grenada as Resort Sales Manager. Ms. Stewart’s career history includes hotel & event management in the region, international airline sales for Air Jamaica, product development management for Air Jamaica Vacations, and property management for Terra Caribbean - Grenada. She holds an Associate of Science in Hotel Management from the Aruba School of Hotel Management and a Bachelor of Science in Travel & Tourism Management from the Florida International University. “Marketing Grenada as a destination is a huge responsibility and I am honoured to serve my country in this way. My initial focus would be to foster and develop strong relationships with all key stakeholders locally, regionally and internationally.”

Daniela Tramacere has been appointed as Head of the EU Delegation to Barbados, Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Kitts and Nevis as well as Saint Vincent and the Grenadines. Tramacere, who previously served as Chargé d’Affaires at the EU Delegation to Trinidad and Tobago, will be based in Barbados. She will also be accredited to the Organisation of Eastern Caribbean States, the Caribbean Community (CARICOM) and the Caribbean Forum (CARIFORUM). Ms Tramacere succeeds His Excellency Ambassador Mikael Barfod who has

completed his term of office. During his distinguished tenure, the evident strengthening of associations between the EU and the OECS had been elevated for the region’s shared security and prosperity.

Andre Dhanpaul appointed General Manager of new Royalton Saint Lucia and Hideaway at Royalton Saint Lucia Royalton Saint Lucia and Hideaway at Royalton Saint Lucia is scheduled to open its downs in early 2017. The property, located in a private cove in northwest of the island Cap Estate, will consist of 352 luxurious suites with 104 in Hideaway at Royalton Saint Lucia. Since the award-winning luxury brand’s 2011 inception, it has been able to identify and refine its signature offerings to create the next generation of all-inclusive hotels, from the ground up. To lead this luxurious vacation experience, Caribbean national Andre Dhanpaul is the General Manager. Born in Guyana and raised in Jamaica, Andre Dhanpaul is an experienced hotelier at the executive level, with senior positions in the Jamaica Hotel and Tourism Association (both the national and Negril chapters), as well as the Negril Chamber of Commerce. Andre enjoyed 10 years at the General Manager level before assuming this role at Royalton Saint Lucia. Mr. Dhanpaul’s experience includes serving as Regional Director for Sandals Resorts International, Eastern Caribbean and his major professional achievements include taking the Sunset at the Palms hotel to the #1 ranked hotel in Jamaica on TripAdvisor®. Tim Thuell has been appointed as the new Chairman of the Board of the Nevis Tourism Authority. He is General Manager for Nisbet Plantation, where he had served for many years. “I am very happy to make this appointment of Tim Thuell to Board Chairman,” says the Hon. Mark Brantley, Nevis Minister of Tourism. “In light of the critical role played by Alistair Forrest

former GM of Nisbet Plantation, I’ve decided to appoint his successor to this key position. I believe Tim brings fresh ideas, a keen knowledge of the tourism industry, and a strong understanding of what is needed to elevate Nevis in the minds of the traveling public. We welcome him and his family back home to Nevis.” Other members of the Nevis Tourism Board have been reappointed. They include: Ed Gannon, Four Seasons General Manager; Evelyn Henville, Member, Nevis Historic & Conservation Society; Ernie France, TDC Nevis Ltd.; Colin Dore, Permanent Secretary, Ministry of Finance, Nevis Island Government; Gary Colt, Coconut Grove Restaurant; and Richard Lupinacci, The Hermitage Plantation Inn.

Victoria CharlesClarke, St Lucia’s former Director of Public Prosecution (DPP), has been named a new Judge of the Eastern Caribbean Supreme Court and will be based in Dominica. Her appointment took effect as of September 30, 2016, according to a release from the Judicial and Legal Services Commission in Saint Lucia. The former DPP “is passionate about reforms in the justice system and this is one of the main reasons why she wanted to pursue a career at the Caribbean Court of Justice or elsewhere.” Charles-Clarke served as DPP in St. Lucia for 12 years. Before that, she was a Magistrate at District Courts in Saint Lucia from 1992-1997, and later became the Registrar of the Supreme Court serving almost three years in that position. In 2002, she was appointed DPP and remained in that position until her retirement in March 2016. coordinated. Mr Deadman’s contract will be funded by the UK Government. OECSBusinessFocus Jan / Mar |

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