Press Release

Department of Trade, Investment, Promotion and Consumer Affairs
Release Date:
Thursday, 14 July 2016 - 2:44pm

Junior Minister for Trade, Investment Promotion and Consumer Affairs, Honourable Marlon A. Penn has expressed the Territory’s interest in forging a partnership with the Caribbean Association of Investment Promotion Agencies (CAIPA).

Honourable Penn in remarks at the CAIPA General Assembly Meeting in Curacao, said the Territory is interested in establishing the relevant relationships instrumental in moving its economy forward. He also highlighted the economic benefits of membership within the regional investment promotion body.

Honourable Penn said membership in CAIPA would help the British Virgin Islands to develop an effective investment strategy that would not only strengthen the existing sectors of financial services and tourism, but also seek to diversify into new areas for economic activity, thereby creating an attractive investment climate.

The CAIPA General Assembly Meeting is the annual meeting of the investment promotion agencies in the region who are members of the association. This year’s annual general assembly focused attention on the efforts being undertaken by the association to expand its membership to include other Investment Promotion Agencies in the Caribbean, with a view to widening the association’s reach, scope and ultimate impact.

Topics of discussion included the impact of CAIPA’s promotion efforts, the work programme for 2017, collaboration with the World Association of Investment Promotion Agencies (WAIPA) and an assessment of the 10th EDF Regional Private Sector Development Programme initiatives.

The British Virgin Islands’ representation at the CAIPA General Meeting follows participation in the third Caribbean Investment Summit held in Miami from May 12 to13.