As part of its strategic planning for 2022, on 24 February Invest Turks and Caicos Agency (Invest TCI) hosted a stakeholder engagement forum to review the 2018 Investment Policy to encourage dialogue that will facilitate the realignment of investment priorities for the Turks and Caicos Islands.
The agency says that the end goal is to ensure that the Investment Policy Statement clearly communicates the country’s investment goals and the strategies that will serve as guideposts for managing its portfolio of investment projects.
Invest TCI was joined by government departments, industry leaders, and business sectors, at the Blue Haven Resort. The forum kicked off at 10am with opening remarks from Premier of the Turks & Caicos Islands, The Honourable Charles Washington Misick, who thanked the attendees for their participation and Invest TCI for their efforts.
In his remarks, Premier Misick stated that it is very important that the Turks and Caicos Islands government make it exceptionally clear what they want the future of the investment climate in the islands to be.
The Premier noted that his government is favourable to green lighting investments that benefit the people of the Turks and Caicos Islands. He stressed that growth needs to not only be organic but intentional and inclusive to the advantage of Turks and Caicos Islanders.
In his remark, Deputy Premier and Minister of Finance, Investment, and Trade, Honourable E. Jay Saunders, discussed the government’s vision for investment in the TCI. Honourable Saunders began his remarks by firstly stating that the most important aspect is that investment benefits Turks and Caicos Islanders; otherwise, it makes no sense.
Saunders noted that the government envisions investment to go beyond brick-and-mortar development. He stated that there is a focus on a wide range of sectors such as medical and sports tourism, eco-tourism, financial and secretarial services, international law and accounting firms, and fintech services, amongst other areas. He expressed that MSMEs are vital, and the government looks favourable upon companies that want to assist small businesses by providing venture capital and training for Turks Islanders.
Following the remarks, participants were divided into teams of 6-8. The groups were allocated a specific time frame to have an open discussion on various questions regarding Invest TCI’s investment services, process improvement, investment target, and investment incentives.
The teams then presented their responses to the entire plenary. At the end of the day, a series of practical solutions were generated for consideration to update the Investment Policy.
Acting CEO for Invest TCI, Angela Musgrove, noted that their review of the policy seeks to ensure that the investment policy statement encourages the right investor and investment.
Acting CEO of the Invest TCI Agency, Angela Musgrove.
