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The Caribbean Export Development Agency (Caribbean Export), in collaboration with the world’s largest donor organization, the European Union, pulled together some of the region’s most influential business leaders and private sector representative organisations to answer this very question last week at a Private Sector Engagement Meeting in Kingston, Jamaica.

The meeting included a feature address from former Prime Minister of Jamaica Mr Bruce Golding who stressed that the region’s private sector collectively has the power to effect positive change in the region’s legislation and to drive the business climate in a manner that supports economic growth.  However, this is not currently happening due to the lack of a recognised regional private sector body to represent their needs when policies and trade relations are discussed by governments at the regional level. Without the private sector, the Governments cannot achieve the kind of sustainable economic growth needed to affect GDP.

H.E. Ambassador Malgorzata Wasilewska, Head of Delegation of the European Union to Jamaica, Belize, Turks and Caicos Islands, the Bahamas and the Cayman Islands, highlighted in her welcome remarks that the private sector is the engine for growth and plays a critical role in spearheading how the regional economies develop.  As the largest donor of Caribbean Export, the two organisations work together to support the increase of employment creation through the provision of targeted interventions of which the region’s private sector may take advantage.  Ultimately the development and growth of the region’s private sector will contribute to the overall goal of poverty reduction and sustained economic growth.

Executive Director at Caribbean Export, Ms Pamela Coke-Hamilton stressed that in view of the rapidly changing global trade environment and seemingly nationalistic foreign policy in the wake of BREXIT, the U.S. abandoning the Trans- Pacific Partnership Agreement and the approaching expiration of the Cotonou Partnership Agreement in 2020, the Caribbean will be significantly affected and therefore must be organized.

“As we face a rapidly changing environment, we need to ensure that our national and regional policies are adjusted to meet the new demands or challenges that they will face. Now is the time to move forward with the establishment of a regional body with private sector representation at the broadest cross sectoral level; a body that will become an integral partner in regional Public-Private Dialogue (PPD).”

With issues such as the current policies in relation to the free movement of labour which are hindering regional trade yet to be addressed, the attending private sector representatives collectively agreed that they needed to hold CARICOM and their governments to account for the implementation or lack thereof of the policies and regulatory frameworks that will improve the business environment and facilitate growth.

Joseph Cox, Assistant Secretary General, Trade and Economic Integration, CARICOM Secretariat emphasized the need for unity between the private sector across the region to ensure regional development.  A unified regional private sector would be more effective as it relates trade relations especially when it is results orientated in its approach.

It was clear from the attending participants that businesses want trade to happen and that there is a need to co-ordinate across the region for better PPD.  At the end of the meeting the grouping made a commitment to work together and signed an agreement on the way forward that will lead to the development of a relevant regional private sector body to represent their interests regionally and internationally.

De Jeunesse Bath and Body Products, a company that manufactures high-quality, natural bath and body products, earned the top prize at the launch of the LINK-Caribbean Pitch Competition held November 21  at the Hyatt Regency Hotel, Port of Spain in Trinidad and Tobago.

They wowed the judges with their pitch from a field of five competing firms and walked away with the coveted $5,000 prize. Chief Executive Officer Shenelle Hills-Fife said, “We are overjoyed but we also realized that it does not matter what kind of company you have. If 

you show your passion, demonstrable evidence that the business can work and get feedback from customers, then you are in business — if not, it is a hobby. We plan on using the funds to purchase equipment that will triple our current production capacity.”

Like many start-up founders, Hills-Fife juggled full-time work with developing a business, but quit her day job earlier this year to concentrate fully on growing her business. “This is only the start. We intend to apply for the $25,000 USD LINK-Caribbean Investment Readiness Grant and even the Co-Investment Grant given the increased interest of investors in our company,” she said.

The 5-5-5 Pitch Campaign is the latest initiative of LINK-Caribbean in an effort to find more investable businesses, or “deal flow” for the region’s Angel Investor networks. The competition allows five entrepreneurs to pitch their businesses to a panel of five investors, with the top successful business selected to receive a $5,000 cash award.

“We decided to run this initiative to raise greater awareness around the LINK-Caribbean programme and to ultimately spur a more buoyant angel investment ecosystem within the region,” explained Chris McNair, manager of Competitiveness and Export Promotion at the Caribbean Export Development Agency. The LINK-Caribbean pitch campaign will continue in the Bahamas, Grenada, and Saint Lucia in 2018 and all interested entrepreneurs are encouraged to submit applications via the website www.link-caribbean.com.

Untitled-design-13.pngThe World Bank Group, together with the Caribbean Export Development Agency, launched LINK-Caribbean in September 2016, funded by the government of Canada. This investment facilitation program aims to enable early-stage Caribbean entrepreneurs to raise capital from private investors, particularly business angel investors.

Title sponsor of the upcoming Outsource to the Caribbean Conference OCC2017, Itelbpo Smart Solutions, is committed to ensuring that the conference, the first of its kind to be held in the Caribbean, is a success.

Yoni Epstein, Founder and Chief Executive Officer of Itelbpo Smart Solutions, a Jamaica based organisation, explained that he supported the vision of the conference, which is to attract Business Process Outsourcing (BPO) companies to the region.  “I think that the region is poised for success and all we have to do is [implement] more initiatives like conferences in order to show the world that we are ready as a region and can compete with the best in the world right in North America’s back yard,” he said.

Mr. Epstein opened Itelbpo Smart Solutions in Jamaica in 2012 and since then has expanded operations to The Bahamas and Florida.  He credited his growth in the region to a number of factors.  “The people are our biggest asset. It’s why so many other industries are successful. Our proximity, cultural affinity [and] telecoms infrastructure [are also important]”, he pointed out, while noting that the Caribbean was a much nicer destination than India or the Philippines.

The BPO executive added that Governments could further assist in the development of BPOs like his in the region by creating a competitive fiscal landscape in which businesses could operate; ensuring that regulatory bodies are compelling telecommunications companies to constantly upgrade their infrastructure; providing suitable financing for the building of BPO space; and ensuring that the human capital is well trained.

Itelbpo Smart Solutions provides inbound and outbound sales and customer service; medical billing; online chat; email response campaigns; and google advertising management and website development. The services are offered in the areas of travel and tourism, car rental, automobile, medical, telecoms and utilities.

Executive Director of the Caribbean Export Development Agency, Pamela Coke Hamilton, noted that her Organisation, which is one of the organisers of OCC2017, was extremely pleased to have Itelbpo Smart Solutions onboard as the title sponsor.  “The commitment of Itelbpo Smart Solutions, a company with such high standards and which has been so successful in the region, is testament to how important the development of this sector is to the region.  I encourage more organisations in the BPO sector to get on board as we seek to devise strategies to further develop the sector,” she stated.

Mr. Epstein has over 17 years of professional experience in the contact center industry and is the first Vice-President of the Business Process Industry Association of Jamaica (BPIAJ) as well as a Board Director of the Jamaica Promotions Corporation (JAMPRO), Jamaica’s investment authority and  Montego Bay Free-Zone Co. Limited.  He is also the Chairman of Alpha Angels, an angel investment group made up of other entrepreneurs in Montego Bay, Jamaica that invests in early stage start-ups.

The CEO of Itelbpo Smart Solutions was also recently named Entrepreneur of the Year by Nearshore Americas and ranked one of the 50 most influential executives in Nearshore Outsourcing in Latin America and the Caribbean.   Additionally, Itelbpo Smart Solutions was awarded Employer of the Year in 2013, 2014 and 2015 by the Montego Bay Free Zone Company.  It is the only business in Jamaica to date to win this prestigious award for three consecutive years.

Mr. Epstein is scheduled to be a panelist at OCC2017 and will address the topic Outsourcing the Itelbpo Way.  Other speakers include Ms. Pamela Coke Hamilton; President of JAMPRO, Diane Edwards; Vice-President of Caribbean Operations at Advantage Communications, Christine Werner; and Account Manager at Sutherland Global Services, Lowenfield Alleyne.

OCC2017 will be held on December 6, 2017 at Iberostar Rose Hall Beach Hotel, Montego Bay, Jamaica under the theme Leveraging the Nearshore Caribbean for Outsourcing Services.  It is being organised by Caribbean Export in conjunction with the Caribbean Association of Investment Promotion Agencies (CAIPA) and is funded by the European Union via the 11^th European Development Fund (EDF).

Tourists often say one of the Caribbean’s unique selling points, which entice them to come back to the islands again and again, is ‘the people’. Caribbean people are renowned for their warm, approachable and friendly nature and this strength is being utilised in parts of the region to grow the developing call centre industry in which an estimated 55,000 Caribbean people are now employed. One of the first companies to leverage the region’s human resources in this area was Guyana-based Nand Persaud International Communications Inc (NPIC).

Before establishing the first call centre in Guyana in 2002, the Persaud family were known for their expanding parboiled rice empire – Karibee Rice. But founder and CEO Ragindra Persaud decided to branch out into a completely different sphere after being taken on a tour of a call centre in Jamaica. He could see the potential for the business in his own country and set about establishing NPIC with the help of his father and brother.

Mr Persaud recalls: “I was on a trip to Jamaica in 2001, this was around the time Jamaica had just started blooming in the (call centre) industry. I was lucky enough to have a walk through on the industry – how it operates, the demand as well as the number of jobs it can create. It is a profitable business and at the time, Guyana’s economy wasn’t performing at its best. It was a great opportunity for my country. We grabbed the bull by the horns and started researching markets. The following year we commenced constructing our facility here in Guyana. By September 2002, our doors were opened. ”

But building trust and attracting business from companies primarily based in the US, Canada and the Dominican Republic, as well as convincing them that the country and its people were up to the task, was particularly challenging at the start because Guyana was experiencing a damaging crime wave. Managing Director Darren Ramdial explains: “Clients are reluctant to associate themselves with crime-plagued areas/regions. The crime rate was very high and customers were scared to come here to expand their business. One of the challenges was convincing them to do business with us regardless of this.”

One of the other challenges was the high cost of bandwidth and electricity which Mr Ramdial believes impacted the company’s initial competitiveness as it dealt with fierce competition from rivals in the Philippines and India where these costs are relatively low.

But NPIC did have a distinct advantage – its close proximity to the US – which it used to sell its offering as a ‘nearshore’ provider. Mr Ramdial says Guyana’s location proved to be a huge benefit: “We are merely a few hours away from our clients as opposed to an entire day as is the case with our major competitors. Our accent is also very neutral and our labour costs are attractive.”

The NPIC call centre currently employs 200 people and offers a range of services including transcription, data entry, research and gathering, quality assurance services, telemarketing, customer support, and IT.

NPIC’s impressive export growth of 31 per cent in 2015 led to it securing the Caribbean Export Development Agency’s ‘Excellence in Service Exports’ award in December 2016. The honour even drew the attention of a management consultancy company based in Chicago called ‘Soloman Group International’ which subsequently chose to work with NPIC on a short term project.

Mr Ramdial says most of NPIC’s new business comes from the Internet and large scale networking events designed for the outsourcing industry: “Networking is key”, he insists. “Currently we are involved with Nearshore Americas, an organisation that helps to market companies that are located close to the US. Just recently we were a part of a tour they hosted here in Guyana.”

Caribbean Export secretariat for the Caribbean Association of Investment Promotion Agencies (CAIPA) in collaboration with JAMPRO is hosting the regions first conference focused on business process outsourcing (BPO) on December 6, 2017 in Montego Bay, Jamaica.  It’s a bold and strategic move to showcase what the region has to offer and attract more outsourcing companies to service providers like NPIC.  The Outsource to the Caribbean conference, sponsored by itelbpo smart solutions, provides an ideal opportunity for both regional service providers, investment promotion agencies and international companies looking to outsource services to meet and build relations.

Over the next six months the company is hoping to grow its clientele and attract more business from the US and possibly Europe and has plans to expand into other parts of Guyana. Mr Ramdial says NPIC is also continuing to focus on providing a top quality service for its clients: “The call centre business is very challenging especially when it comes to marketing. For one, the market is very competitive. We’ve learnt that the key to thriving in the business is to keep improving your service, and your brand. It is the only way to remaining competitive. High quality service counts. Our aim is to be the largest call centre in Guyana. At present we are located in Berbice County but we are hoping to expand to the various regions in Guyana.”

The innovative firm will also be focusing on green energy and saving money through a solar power initiative which has drastically reduced its electricity bill by approximately $50,000 (Guyanese dollars) a day. This project is expected to make a return on the investment of $528,000 (US dollars) within six to seven years.

So what has been the key to NPIC’s success from a fledgling company in 2002 to a thriving market leader almost 15 years later? “Believe in what you set out to do and commit fully”, Mr Persaud advises.

“If you don’t believe in it, you will fail. When we ventured into this business I had no doubt that Guyana had the potential to succeed in this market. I believed in my country’s potential and backed it with my investment.”

About

Caribbean Export is the only regional trade and investment promotion agency in the African, Caribbean and Pacific (ACP) group.  The Agency is currently implementing the 11^th EDF Regional Private Sector Development Programme and will host the Outsource to the Caribbean Conference sponsored by itelBPO smart solutions on December 6^th at the Iberostar Hotel, Montego Bay Jamaica.

Bridgetown, BARBADOS, October 17, 2017.  The global market for business process outsourcing (BPO) is currently valued at USD $1 trillion with cross-border outsourced services trade between countries estimated at US$88.9 billion per year in 2015. The Caribbean is carving out its niche within this global industry with the number of BPO operators and jobs growing exponentially.  One company that’s thrived since outsourcing to the Caribbean is the Dutch owned company Cimpress (Vistaprint).

Vistaprint Jamaica Ltd. began operations in Montego Bay in 2003 to provide contact centre services for Cimpress (Vistaprint), a company based in the Netherlands which specialises in the mass customisation of marketing materials and web-to-print systems. By 2008 Vistaprint Jamaica was the first subsidiary of Cimpress (Vistaprint) to have a dedicated graphic design services unit. Between 2010 and 2012 it had some 600 employees and had constructed a state of the art customer service facility worth USD$25 million.

With the growing trend to outsource business processes to nearshore markets, and, governments, business representatives and other stakeholders throughout the Caribbean are seeking to capitalize on on the potential economic benefits afforded by this sector.

Over 100 stakeholders will meet later this year in Jamaica to explore various avenues to secure BPO investment and to demonstrate to potential investors the advantages of doing business in the Caribbean.

Caribbean BPO services providers, government officials, telecommunications firms and training institutions will come together at the first-ever Outsource to the Caribbean Conference (OCC) which will take place on December 6, 2017, at the Iberostar Rose Hall Beach Hotel in Montego Bay.  The Conference, which is organised by the Caribbean Export Development Agency in conjunction with the Caribbean Association of Investment Promotion Agencies (CAIPA) and the Jamaica Promotions Corporation (JAMPRO) will be held under the theme “Leveraging the Nearshore Caribbean for Outsourcing Services”.  OCC2017 is being funded in part by the EU via the 11^th European Development Fund (EDF) and comes at a time when the Caribbean region is emerging as one of the most attractive destinations for BPO.

Prime place for international companies to invest and outsource 

Chief Executive Officer of Caribbean Export, Pamela Coke Hamilton, explained why the Caribbean is the prime place for international companies to invest and outsource their services.  “The Caribbean is a reliable business partner; it has one of the lowest perceived risks in the Latin America – Caribbean region, is politically stable with well-functioning institutions, efficient government and low levels of corruption. The overall regulatory system is conducive to business activities.”

The President of CAIPA, Ms. Diane Edwards (who is also the President of JAMPRO) pointed out that the Caribbean’s geographic location makes the region a perfect gateway to markets in North, Central and South America.  “And with the growing need for mainland North American firms to outsource functions to a competitively priced and easily accessible destination, the Caribbean is well positioned as a nearshore solution.”

According to Edwards, the region is also well placed to offer services to not only North America, but also Europe and South America, given the strong multi-lingual talent pool in the region. Ms. Diane Edwards also posited that beyond the talent pool, companies outsourcing business to the Caribbean have a wealth of other advantages.  These include a supportive regulatory framework with many territories offering special economic zones where service providers can benefit from reduced tax benefits; low real estate costs and a cost efficient infrastructure, allowing for low operational costs. “The Caribbean,” she concluded, “has ably demonstrated, time and again, that it has much to offer.”

Impressive growth in BPO industry 

For the past 15 years, the sector has grown exponentially thanks to the telecommunication liberalization in the early 2000s.  This accelerating growth is expected to continue over time, with Caribbean destinations attracting more BPO investment.

Ms. Coke Hamilton noted that a 2015 study of nine selected countries in the region had revealed that the Caribbean BPO industry was comprised of more than 200 delivery centres and 74,000 agents, showing an increase of 44,700 workers in only five years.

“During this period the industry has grown at an impressive Compound Annual Growth Rate (CAGR) of 17%. BPO and other professional services generated over US$2 billion in revenue in 2014 and research shows that companies in the region generate close to US$25 million in revenue for every 1,000 agents. Additionally, the level of profit is around 7% for call centres and close to 15% for non-voice, back-office shared services,” she noted. 

Securing investment beyond voice-based services 

Another BPO company which is steadily growing and attracting investment from international companies is the Barbadian software startup, Simplified Apps.  This business developed several web and mobile software applications for large organizations and for multiple markets and is focused on developing a cluster of software driven subsidiary startups that are able to strategically integrate and share resources.

Chief Executive Officer, Curtis Padmore, explained that the business was successful in attracting large organizations as customers for the software developed by his teams, pointing out that one such satisfied international investor was BlackBerry.

Speaking to the importance of BPO in Barbados, he noted: “I believe the BPO that best fits (Barbados), is where the intellectual property is created and owned in Barbados [and then] monetized, targeting offshore customers.”  The young entrepreneur recently started another BPO company which will “allow Simplified Apps to structure as an umbrella company, leveraging its resources to accelerate the growth of the new startup.”

Part of the OCC2017 strategy for attracting BPO to the region is to secure investment beyond the usual voice-based services like contact centres.  The focus will now also be on additional opportunities like Back Office Automation; Shared Services; Finance and Accounting; Human Resources; Legal Processes; Animation Services; Graphic Design; Web Design; and Data Entry Services.

Senior Advisor, Investment Promotion, at the Caribbean Export Development Agency, Suzette Hudson, is of the opinion that business persons who work in those sectors should attend OCC2017.  “Participants will be able to network and gain some insight into regional offerings and the service possibilities available through an impressive programme of plenaries and one-on-one engagements,” she noted.

The Senior Advisor also discussed what persons attending the conference should expect.  Prior to the main event a welcome reception for participants as well as the Regional Investor of the Year Awards will take place on December 5.  The following day on December 6, activities will include a session on Outsourcing Trends for the Next Decade: Opportunities for the Caribbean; a discussion on the Caribbean Talent-pool; business-to-business meetings; and the sharing of Caribbean success stories.  On December 7 a tour of BPO facilities in Jamaica will be conducted.

A diverse collection of food and beverage producers from the Caribbean will descend upon the world’s leading food fair ANUGA in Cologne, Germany next month. The leading food fair which attracts some 7000 exhibitors from over 100 countries and close to 200,000 visitors will be home to eight producers from the Caribbean under the Caribbean Kitchen pavilion facilitated by the Caribbean Export Development Agency (Caribbean Export).

“Food and drinks is such an integral part of Caribbean culture which continues to be in high demand from the European markets. The firms selected to exhibit at this years’ ANUGA exemplify the quality and innovation needed to be successful exporters” highlighted Pamela Coke-Hamilton, Executive Director of Caribbean Export.

The participating companies include 2016’s Caribbean Exporter of the Year award winners the West Indian Biscuit Company (WIBISCO) manufacturers of cookies and crackers from Barbados. Following a successful event in 2015, La Benedicta the region’s only producer of apple cider from the Dominican Republic will return. Four Jamaican firms will be participating for their first time including Coffee Solutions with their Ridgelyne Blue Mountain Coffee; Ecofarms™ producers of organic gourmet honey and healthy honey products; Shavuot producers of herbal teas and powder products using indigenous ingredients such as Soursop and Moringa. Also from Jamaica is Southside Distributors producers of a range of condiments, canned products, juices and syrups using locally sourced fruits and vegetables. Southside owner Denese Palmer also won female exporter of the year in 2015. Suriname Candied Fruits are an agro-processor focused of producing a range of tropical fruit products for the global market under the strictest environmentally friendly conditions. Viking Traders out of Saint Lucia also produce a range of products and bring some unique Caribbean flavours to the market such as their Banana Ketchup and Banana and Honey BBQ Sauce.

Senior Advisor, Competitiveness and Export Promotion Damie Sinanan stressed “What is great about all of the companies selected is their use of locally grown products supporting their farming industries and providing jobs within their communities. They each use have introduced innovations into the use of indigenous products to elevate their quality and appeal in to the international market.”

ANUGA will take place from October 7-11, 2017 and is pegged to see attendance from the most important decision-makers within the food and beverage industry.

As the halfway point of the two-year LINK-Caribbean Angel Investment program approaches, over US$500,000 has been awarded to 14 Caribbean companies to support their development to attract angel investment.

The World Bank Group, together with the Caribbean Export Development Agency, launched LINK-Caribbean last September, funded by the government of Canada. The investment facilitation program aims to enable early-stage Caribbean entrepreneurs to raise capital from private investors, particularly business angel investors.

It also aims to contribute toward the development of an angel investment ecosystem across the Caribbean, and early indicators would suggest that is exactly what is happening. With investment of US$1.6 million, the program has awarded 11 investment readiness grants and 3 co-investment grants, and supported the growth of a Regional Angel Investor Network (RAIN) which now has business angels actively looking for early-stage and start-up businesses in which to invest.

“It is encouraging to see the entrepreneurs coming forward to seek investment and get involved in the program.  We have some bright, talented entrepreneurs with great ideas and businesses that can integrate into the global markets. The support from World Bank Group via the LINK-Caribbean program is just the first step.” said Pamela Coke-Hamilton, Executive Director of the Caribbean Export Development Agency.

“We are delighted to see that LINK-Caribbean has helped catalyze the growth of the Caribbean’s entrepreneurship ecosystem,” said Sophia Muradyan, Coordinator of the World Bank Group’s Entrepreneurship Program for Innovation in the Caribbean (EPIC), which includes LINK-Caribbean.

The program hosted the Caribbean Angel Investor Forum in May 2017 which helped to spur the development of new angel investment groups in the Bahamas. The region now has active angel groups in Jamaica, Trinidad and Tobago, the Dominican Republic and Barbados. Increased awareness and understanding around angel investing has increased the number of entrepreneurs seeing investment.

“We recognize that there is still a lack of knowledge as it relates to the various investment instruments available to entrepreneurs. Angel investing isn’t for everyone, but with greater understanding it’s becoming a viable option, as seen from the range of businesses applying to be part of the program,” said Chris McNair, Manager of Competitiveness and Export Promotion at Caribbean Export.

For companies that are not quite investment-ready, the Investment Readiness grant provides financial assistance for them to make themselves more attractive to a potential investor. The first tranche of IR-grant recipients are now in a better position to attract significant investment from business angels. If they qualify, they can have 50% of that investment matched with a co-investment grant.

IR Grant recipient Khalil Bryan said the grant has enabled his company, Caribbean Transit Solutions, to increase marketing locally, make improvements to its mobile app and secure the app platform from its original developers. The grant also put the company into the spotlight of regional angel investors.

About LINK-Caribbean and EPIC

LINK-Caribbean is an initiative of the World Bank Group’s Entrepreneurship Program for Innovation in the Caribbean (EPIC), a seven-year, CAD 20 million program funded by the government of Canada that seeks to build a supportive ecosystem for high-growth and sustainable enterprises throughout the Caribbean.

The Project Development Objectives are to contribute to increased competitiveness, growth, and job creation in the Caribbean region through the development of a robust and vibrant innovation and entrepreneurship ecosystem. EPIC has three core activity pillars: mobile innovation, climate technology, and women-led entrepreneurship. These pillars are complemented by an access to finance facility for Caribbean entrepreneurs and a skills upgrading and capacity development program for all ecosystem stakeholders.

 

World Bank Group Contact:

Alison Christie Binger, Communications Consultant

T +1 (876) 330-1155

Email abingerchristie@worldbank.org
http://www.infodev.org

@infoDev

 

About Caribbean Export Development Agency

Caribbean Export is a regional export development and trade and investment promotion organization of the Forum of Caribbean States currently executing the Regional Private Sector Program funded by the European Union under the 11^th European Development Fund.

Caribbean Export’s mission is to increase the competitiveness of Caribbean countries by providing quality export development and trade and investment promotion services through effective program execution and strategic alliances.

 

Caribbean Export Development Agency Contact:

JoEllen Laryea, PR and Communications

Tel: +1 (246) 436-0578, Fax: +1 (246) 436-9999

Email: jlaryea@carib-export.com

www.carib-export.com

@caribxport

Over 100 industry leaders from the public and private sectors across the region are expected to converge in Jamaica this December to discuss how best to attract more business from international companies to the Caribbean in areas such as call centre operations, website and animation design, and legal and accounting services.

The first-ever Outsource to the Caribbean Conference (OCC) under the theme “Leveraging the Nearshore Caribbean for Outsourcing Services” will be held on December 6, 2017 at the Iberostar Rose Hall Beach Hotel in Montego Bay, where representatives from international companies are also expected to attend.

The event is being organised by the Caribbean Export Development in conjunction with the Caribbean Association of Investment Promotion Agencies (CAIPA) and funded by the EU via the 11^th European Development Fund (EDF). It will focus on the Business Process Outsourcing (BPO) sector, specifically “nearshore outsourcing” which involves contracting the operations of specific business processes to third-party service providers in neighbouring or nearby countries.

Executive Director of Caribbean Export, Pamela Coke Hamilton, noted that outsourcing business to the Caribbean is beneficial not only to the region but to any international businesses investing here.  “The Caribbean is an excellent place to do business. We have a highly skilled, educated multi-lingual and cost effective labour pool. There is also a flexible work environment and a supportive regulatory framework which allows for low operational costs.  The Caribbean also has an advanced telecommunications infrastructure with all the necessary requirements for global connectivity,” the Executive Director stressed.

Ms.  Coke Hamilton further pointed out those areas in which the Caribbean could offer excellent BPO services.  They include: Voice Processing/Call Centres; Back Office Automation; Shared Services; Finance and Accounting; Human Resources; Legal Processes; Animation Services; Graphic Design; Web Design; and Data Entry Services.

Speaking directly to the conference, Senior Advisor, Investment Promotion, at Caribbean Export, Suzette Hudson, explained that OCC2017 was designed to increase awareness of the Caribbean as an outsourcing destination for business processes.

“It aims to bring together all the key BPO stakeholders in the region for the development of a targeted BPO Growth Strategy, which is expected to start in 2018. We also wish to enhance the visibility of the sector through increased communication about the value proposition of the Caribbean, generate investment leads, and increase the Caribbean’s insertion into BPO networks through connections with BPO journals, newsletters and key influencers”, Ms. Hudson noted.

She further explained that the conference will offer participants the opportunity to fully discuss areas relevant to BPO.  “Potential investors will gain insight into regional offerings and the numerous service possibilities through an impressive programme of plenaries and one-on-one engagements.  They can also create their own nearshore operation or form new partnerships with more than 100 potential partners, ranging from outsource providers and commercial developers to end users.”

Recognising organisations that have made huge efforts to ensure customer satisfaction and retention is the focus for 4^th edition of the Caribbean’s Regional Investor of the Year Awards (RIYA) 2016-2017, hosted by the Caribbean Export Development Agency (Caribbean Export) and the Caribbean Association of Investment Promotion Agencies (CAIPA).

Under the theme ‘Investing in Customer Satisfaction and Retention’ the prestigious RIYA seeks to recognize and salute the achievement of pan-Caribbean foreign and local investors who would have demonstrated exceptional business practices, economic achievements and investments.

“We recognise the importance of the contribution investors to the region make to our regional economies.  Both foreign investors and local investors are equally important to provide jobs and supporting our societies.  Their success becomes our success and improves our overall investment climate and so it’s important for us to recognise their efforts.” Express Pamela Coke-Hamilton, Executive Director at Caribbean Export.

In addition to recognising local and foreign investors who have invested in customer satisfaction and retention, using Caribbean labour, a special award will also be given to women or young investors whose investments are particularly noteworthy.

Last years’ awards focused on investments in innovation with Kikaboni, a producer of new organic pita snacks from the Dominican Republic, emerging as the special awardee as a young investor as well as the overall winner of RIYA 2015/2016. Du Boulay’s Bottling Co. Ltd, a leading beverage manufacturing establishment in Saint Lucia was the Local Investor of the Year 2015/2016 and Lenstec (Barbados) Inc, a manufacturer of innovative medical eye devices was the foreign investor of the year 2015/2016.

The RIYA 2016/2017 will again feature 3 specific award categories and applicants are invited to apply according to the category or categories which they believe they have had the most impact as it relates to customer satisfaction and retention.  Those categories are:

1. Foreign Investor of the Year Award: This award seeks to honour foreign investors (non-Caribbean nationals),
2. Local Investor of the Year Award: This award seeks to honour local investors, those of Caribbean birth.
3. Special Award: Special recognition will be given to women and young investors and this award will be given at the discretion of the Evaluation Committee to outstanding applicants.

The Regional Investor of the Year or overall winner will be selected from the successful candidates in the above categories and announced on 5 December 2017 in Montego Bay, Jamaica at the hosting of the Outsource to the Caribbean Conference.

Additional information on the RIYA can be found at: https://content.carib-export.com/opportunities/regional-investor-of-the-year-awards-20162017/

The deadline for submissions to the RIYA Evaluation Committee is 31 October 2017.