Providenciales, Turks and Caicos Islands September 28th, 2022 – The 26th chapter of the World Investment Conference (WIC) took place September 13th – 14th, 2022, in Geneva, Switzerland. This year’s event was held under India’s presidency on the overarching theme of “Investment Promotion Agencies (IPAs) Shaping the Future of Foreign Direct Investments (FDI).” The conference was attended in person by over 350 representatives from 104 countries representing a 7.25 billion population. In addition to IPAs, the guestlist included heads of multilaterals, executives of global private sector companies, and start-ups. Officials from UNCTAD, ILO, World Bank, OECD, and OACPS were present during the event. The event was live streamed in over 100 member countries.
Hosted since 1995, WIC is the World Association for Investment Promotion Agencies’s (WAIPA) annual flagship event and a key forum where IPAs, multilaterals, and the private sector convene to address current economic and social issues that may affect global investment flows and other strategic and policy considerations. It is one of the largest gatherings of IPAs from least developed and developing countries.
WIC 2022 witnessed the launch of the United Nations Industrial Development Organization (UNIDO)Portal for African, the Caribbean, and Pacific Regions, International Solar Alliance (ISA) Startup Challenge, WAIPA Community Platform, WAIPA–United Nations Development Programme (UNDP) Sustainability Initiative & WAIPA Business Advisory Board. Panel discussions were held on issues disrupting the world economy today, such as Digital FDI, Sustainability & Impact FDI, Evolution of Global Value Chains, and Creation of Investable Projects. Masterclasses were organized to attract sustainable investments and transform communities through innovation.
CEO Angela Musgrove and Sheryl McLaughlin, Investment Service Executive, attended the conference on behalf of Invest TCI. Mrs. Musgrove participated in the WIC Talks presentations. This 10-minute engagement with the audience gave insight into the investment potential and opportunities that lie within the beauty of our islands. Mrs. Musgrove commented on the event, “Invest Turks and Caicos is a member of WAIPA; participation in this year’s event would be the first since confirmation of membership. This year’s event provided an ideal opportunity to amass greater awareness of the global economic landscape and its impact on the economic sectors of the islands. The event provided an opportunity for Invest TCI investment facilitation staff to keep abreast of current industry trends and practices while embracing opportunities to engage in discussions on business opportunities in the TCI. It provided the platform to discuss current economic and social issues affecting global investment flows and other strategic and policy considerations.”
Mr. Patrik Wermelinger, Head of Investment Promotion, Switzerland Global Enterprise & Vice President, WAIPA, highlighted that WAIPA brings together the top national IPAs. “We congratulate WAIPA on this valuable platform that makes it possible for all of us to share our ideas and learnings with the aim to help everyone become more successful for your individual country. This is very much in aim with the spirit of Switzerland, which is committed to advanced international cooperation and dialogue among nations.”
For more information on WIC and other events, visit Invest TCI’s website at www. Investturksandcaicos.tc.
About Invest Turks and Caicos
Invest Turks and Caicos is the Islands’ Investment Promotion Agency, responsible for enhancing the economy through the attraction, growth and retention of overseas investment; and supporting the growth of local businesses.
We provide a free and confidential service to overseas businesses looking to expand and will work with a company project team throughout the investment process, providing advice and support. This can include:
- Information on the local business climate;
- facilitating contact with relevant Government Departments throughout the investment process;
- advice on Government incentives and concessions to investors;
- introductions to local service providers/suppliers;
- advice on work permits and permanent residency procedures;
- ongoing support following set up.
We also work actively to support local businesses’ growth, including managing and delivering the Micro Small and Medium Enterprise programme, which provides concessions and relief to locally owned businesses.