BARBADOS: Caribbean Export Development Agency, in collaboration with the Caribbean Association of Investment Promotion Agencies, is seeking a firm to create a regional strategy and implementation plan for the effective promotion of investment opportunities in the region.
The impetus of the RFP comes as countries such as Antigua, the Dominican Republic, Grenada, Haiti, and Jamaica are still trying to pull themselves up from the global financial crisis that started in 2008.
Foreign direct investment (FDI) to the region declined by approximately 54% in 2009, while FDI to the rest of the world declined by 33% in that year, according to the RFP. Whereas other countries have experienced a rebound since then, “this has not been the experience of the Caribbean in general.”
The development of a regional investment promotion strategy is key to enhancing competitiveness and to encouraging innovation in the private sector of the countries that will result in money from other nations rolling in, the RFP adds.
The campaign developed by the winning firm will target government entities, private sector organizations, and regional/national bodies. The budget for the contract is $110,000 and the work will end on August 31, 2014.
Representatives from the Caribbean Export Development Agency did not respond to requests for comment. The deadline for the RFPs is Thursday, October 31.
Last month, the British Virgin Islands Tourist Board hired M Booth to provide PR representation that would encourage more middle class visitors from the US and Canada.