Nicaragua to Participate in Regional Summit of Promotion Agencies

Nov. 28, 2012 - PRLog -- PRONicaragua, the official investment promotion agency of Nicaragua, will be participating in the Regional Summit of the Caribbean’s Investment Promotion Agencies (IPAs), held in the Bahamas between November 27th and 28th, with the objective of exploring strategic approaches for increased collaboration between investment promotion agencies within the framework of the Caribbean Association of Investment Promotions Agencies (CAIPA).

Entitled “Strengthening our Foundation, Expanding our Reach”, the two-day conference includes the development of a work program for 2013 that positions the Caribbean for investments and creates economies of scale in the use of scarce investment promotion resources.

Because investors view the Caribbean region as a whole, prior to fine-tuning their selection processes to a single territory, it must be promoted as a single region, thus strengthening the Caribbean as an economic bloc and increasing investment attraction.

In this context, the conference will seek to reinforce the relevance and importance of a regional association of investment promotion agencies, with an increased focus on exchange of information on regional best practices.

The conference will be attended by senior staff members of the IPAs within the Caribbean who are members of CAIPA. Speaking at the event will be the Bahama’s Prime Minister Perry Christie and Paul Wessendorp, Chief of the United Nations Conference on Trade and Development’s (UNCTAD) Investment Promotion Section.

There will be panel discussions on the development of a regional investment promotion strategy and an investor roundtable assessing the challenges being faced by regional investors and the opportunities in the Caribbean that are available to existing investors for expansion and re-investment.

The CAIPA Annual General Assembly is hosted by Caribbean Export Development Agency (CEDA) in its role as the CAIPA Secretariat, and forms a part of the regional private sector program funded by the European Union (EU) under the 10th EDF.

Among the 189 institutions evaluated, PRONicaragua was the only institution to achieve a rating of “best practice”, the highest distinction awarded by the study in each of the three evaluations implemented. This edition marks the first time in history that a non-member country of the Organization for Economic Cooperation and Development (OECD) receives such recognition.