Invest Dominica Authority (IDA) is pleased to announce that it successfully secured technical assistance from the Compete Caribbean Partnership Facility (CCPF) to strengthen its capacity to attract sustainable Foreign Direct Investment (FDI). CCPF is a multi-donor Trust Fund, jointly funded by the United Kingdom’s Department for International Development, Inter-American Development Bank, Global Affairs Canada and the Caribbean Development Bank.
Following the devastation by Hurricane Maria, the Government of Dominica posited a long-term vision to make Dominica the first Climate Resilient Country and placed importance on attracting sustainable FDI. The impact of COVID-19 has created a greater need to ensure the right approaches are utilized in promoting Dominica as a destination for sustainable investment.
The UK based consultancy firm, Wavteq has been engaged to assist the Government of Dominica in executing the project. Wavteq is a specialist FDI consultancy focusing on lead generation, FDI strategy and capacity building. Wavteq has worked with hundreds of governments and Investment Promotion Agencies in developing and executing investment promotion strategies for increasing FDI in various sectors and capacity building.
The project “Improving Climate Resiliency through Foreign Direct Investment” is aimed at identifying specific investment niches in Dominica for targeting sustainable investments and strengthening the capacity of the (IDA), to attract sustainable investment and contribute to positioning Dominica as the first climate-resilient country.
The project will be undertaken in collaboration and consultation with a wide cross-section of the populace to include stakeholders from civil society and both the private and public sectors. It will be executed in a number of phases, designed to support the country’s investment promotion capacity, over an 18-month period starting May 2020.
IDA will be contacting all stakeholders and look forward to your cooperation, participation, and contribution.
Invest Dominica Authority is the Government’s Agency responsible for the promotion and facilitation of investments in the Commonwealth of Dominica.
Snap, some 15 years ago I was looking to invest and establish a boutique hotel on the western side of DA. Stayed in DA for 6 month and purchased a beautiful peace of land (11.5 acre) with direct beach access. After the deal was in my pocket I contacted Invest Dominica in the hope to tap into a local knowledge platform. I just wanted advise with duty free importation of certain materials which I could not source in DA. 15 years later I’m still waiting. Then I tried to make an appointment with the relevant department for immigration advice… Yes you guessed it, I’m still waiting! Spoke to a construction company regarding the execution of the project. 3 month later I got a quote which had to be returned because the quote was only loosely based on the supplied architect/engineering drawings. Furthermore, that construction company that was trying to charge me 15 years ago EC$40 per hour for a labourer and EC$85 for a builder…!
I still own that lovely piece of land but I invested…
Your wait will be forever; the only way you will ever get to a point to break ground in Dominica to do anything, is if and when you allow yourself to become corrupted by the powers that be in Dominica.
For you to do business in Dominica; unless you are prepared to load some of you heard earned money into the pockets of some corrupted politician in Dominica, you will have to count the days of your efforts lost!
If you notice Roosevelt gives foreigners millions of Dollars and land claims to build hotels in the country; I mean money out of our treasury.
In addition to the money to build the so called hotels, we understand a gift of twenty ($20,000,000.00) million dollars is given to the operators; success, or no success, that twenty million is for keeps!
Only in a place like Dominica that can happen.
It would be interesting to find out which politician’s in Dominica are ghost owners of theses hotels.
Now boys that’s playing with words all these years “attract foreign direct investments”. With electricity rates so dmn high, I wonder why businesses/companies not coming.
Good morning. Can you please list three areas where Dominica is hoping to attract foreign investors, please just three.
And please do not mention TOURISM. TOURISM has long been dead, those with continued hopes, dreams and investment in it have only refused to accept it’s death, and are still refusing to bury it.
So please go ahead and name three. Or is it only to get the money, then redirect it to be used elsewhere for other things that shall be determined more fitting or urgent?
How I wish that we could develop our own initiatives, rather than relying on outside consultancies. And how I wish we could abolish the word “stakeholders”.
Many years ago, when I was in the process of relocating my studio and workshops to Dominica, I made a long distance call from the UK to the Invest Dominica Authority in order to seek urgent clarification on import documentation. After a long delay the person that answered my call came back to with the message that I should call back later as everyone was taking their morning break.