Invest in the place everyone wants to visit – the Caribbean!
Countries in the Caribbean provide strong foundations for businesses boasting outstanding track records of economic and political stability, openness to international trade and economic integration with one of the lowest perceived risks in the Latin American Caribbean region. The Caribbean’s privileged geographic location makes the region a perfect gateway to markets in North, Central and South America, offering a 13 million strong qualified work force with multilingual capabilities.
Governments are committed to supporting the development of key sectors with attractive incentives for investment, tax holidays or preferential income taxes, exceptions from duties on imports, property tax exemptions, an extensive range of free economic zones, among others.
Business process outsourcing, renewable energy, technology in agribusiness, among others, are all industries that present great investment opportunity.
Top 10 reasons to invest in the Caribbean
1. Ideal Location – Located in the center of the Americas, the Caribbean provides the advantage of easy access to markets in the North, South and Central America and serves as a bridge to European markets.
2. Accessibility – Most Caribbean countries have international airports that provide daily direct flights to the USA, Canada, the UK, and several other countries in Europe, as well as South America. Accessibility by sea via the world-renowned regional ports is also an advantage allowing for easy access to raw materials and equipment.
3. Openness to Trade – Many countries in the Caribbean have preferential access to some of the largest markets in the world.
- CARIFORUM-EU Economic Partnership Agreement
- Caribbean-Canada Trade Agreement (CARIBCAN)
- Caribbean Basin Initiative
- Dominican Republic-Central America FTA (CAFTA-DR)
4. Modern Infrastructure – Electricity and water supply are constant and affordable. Telecommunications and broadband internet access are available, and a ready supply of natural gas can also be easily accessible from within the Region. Land and office space are available at cost-effective rates.
5. Economic & Political Stability – The Caribbean is known for its stable democracies and economic development. This provides the assurance of a secure location to do business and raise families.
6. Skilled Labour Supply – The Caribbean is known for its highly skilled labour supply with an agreement that allows for the free movement of skilled labour within CARICOM. The peoples of the Region are also fluent in key languages: English, Spanish, French and Dutch.
7. Diverse Investment Opportunities – The Caribbean has garnered critical acclaim as a Mecca for tourism with its abundant natural resources. However, there are a number of other competitive sectors including: information communications technology/business process outsourcing, financial services, agribusiness and the creative industries- 23 diverse territories from which to choose.
8. Incentive Programmes – Many of the Region’s territories offer incentives, some of which can be customized, providing the best opportunity for investors.
9. Ease of Doing Business – Economies in the Caribbean carried out record reforms over the past year to make it easier for enterprises to do business. The World Bank Group’s Doing Business 2020 study notes that improvements in the Caribbean were concentrated in starting a business, getting electricity, paying taxes and enforcing contracts.
10. Responsive Investment Promotions Experts – The Region’s Investment Promotions Agencies have been recognized for their competent inquiry handling services and excellent web sites.
Whether you are considering a new investment in one of the Caribbean’s competitive sectors, or you are seeking to expand existing operations, the place you’ve always wanted to visit is also the ideal location for your business. Let us know what your needs are. We will be able to find a solution for you in one of the 23-member states of the Caribbean Association of Investment Promotion Agencies (CAIPA).
For more information about investing in the Caribbean contact Damie Sinanan, Manager- Competitiveness and Export promotion