IDA secures technical assistance to strengthen its capacity to attract sustainable FDI

Invest Dominica Authority 13th May, 2020

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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.