Providenciales, 17 Dec 2015 – Another strong report for the economy of the Turks and Caicos and this time it is coming from the Department of Statistics with the publication of a National Accounts Survey, which is now available online.
The Turks and Caicos is projected to nearly double financial growth as the GDP will increase by just under 6%.
The news comes from the Strategic Policy and Planning Department of the Ministry of Finance, its Acting Director Shirlen Forbes said: “This projected growth will be driven mainly by strong performance in the tourism sector and projected private sector investments worth more than $400 million dollars.”
The SPPD said the prognosis is made on the back of a surge in business in the wholesale and retail sectors thanks to the more robust tourism and real estate industries, government’s fiscal prudence in recent years and low internal and external debt.
While the hotel and restaurant sectors grew by 5%, the construction industry did suffer some with a dip of 3.5%.
Forbes, in that media statement issued Wednesday said a boom is coming for construction though, I quote: “This sector will be propelled by foreign direct investment in large-scale tourism related projects as well as revitalization of stalled projects…”
There was a warning too, that though the TCI GDP will grow, the economy is still fragile and is subject to “global health concerns, geopolitical tensions, adverse weather conditions and unavailability of external financing for private sector projects…”
There was a thank you from Shirlen Forbes who identified that the business community, public corporations and government agencies all assisted in the compilation of the National Accounts Survey; you can find the 69 page document in full at MagneticMediaTV.com.
USA Caribbean Investment Forum: Partnering for Sustained Development in the Caribbean 2023 Event Recap
The USA Caribbean Investment Forum took place over two days last week at the New York Marriott Marquis Times Square. The event, hosted by the Caribbean Association of Investment Promotion Agencies (CAIPA) in partnership with representatives of the CARICOM Consular Corps (namely, the Consulates General of Trinidad & Tobago, Barbados, St. Vincent & the Grenadines and Antigua & Barbuda), brought together government officials, investment promotion agencies, entrepreneurs, and business leaders from the Caribbean diaspora to connect, engage in thoughtful discussions, and explore investment opportunities throughout the Caribbean.
Fostering International Collaboration
The event featured distinguished speakers and representatives from both the US and Caribbean governments. Consuls General Mr. Mackie Holder (Barbados), Mr. Jerome Andre Laveau (Trinidad & Tobago), and Mr. Rondy McIntosh (Saint Vincent and the Grenadines) along with Jeanette Moy, Commissioner of the NYS Office of General Services, Edward Mermelstein, NYC Commissioner of International Affairs, and Molly Bauer, Industry Development Associate from the NY Governor’s Office, shed light on the initiatives that New York City, which is home to so many Caribbean Diaspora, is implementing to support economic collaboration between the regions.
Hon. Kenneth Bryan, Minister for Tourism & Ports, Cayman Islands, and Chair of Caribbean Tourism Organization (CTO) and Hon. E. Jay Saunders, Deputy Premier, Minister of Finance, Trade and Investment, Turks and Caicos Islands delivered insights via keynote speeches and held candid discussions during panel and Q&A sessions. The event served as a unique opportunity to communicate in an open and honest forum with two esteemed leaders from the Caribbean about investing in the region.
Promoting Investment Opportunities
CAIPA welcomed representatives from Invest Barbados, Invest Dominica, Grenada Investment Development Corporation (GIDC), InvesTT (Trinidad and Tobago), Invest Turks and Caicos, St. Kitts Investment Promotion Agency (SKIPA), Invest St. Lucia, Invest St. Vincent & the Grenadines, the Bahamas Investment Authority, the Curacao Investment and Export Promotion Agency (CINEX), and the Sint Maarten Ministry of Tourism, Economy, Transport and Telecommunications, to discuss various opportunities for investment in their respective countries and how their agencies support and facilitate potential investors.
Private sector companies including the St. James School of Medicine, Century21 Guyana, Ethniv, and Homestrings joined the forum to discuss their current active projects in the Caribbean. They detailed how they’ve worked with local governments and institutions to successfully launch and operate their businesses in the Caribbean, along with the potential opportunities for continued growth.
Understanding How Caribbean Financial Institutions Facilitate Investment
The Forum brought together key representatives from Caribbean financial and economic development institutions: IDB Lab (Ms. Magdalena Coronel, Chief Investment Officer), the National Commercial Bank Jamaica LTD (Mr. Jeffrey Brown, Head, Loans Structuring and Syndications), USAID (Mr. Mervyn Farroe, USAID representative for the Eastern and Southern Caribbean), and the Caribbean Development Bank (Ms. Lisa Harding, Private Sector Development Specialist) to detail how these organizations facilitate and support private investment in the Caribbean.
Attendees had the opportunity to meet directly with CAIPA member countries during business meetings. These one-on-one conversations were valuable opportunities to speak directly with key stakeholders in order to advance projects and forge direct relationships.
The inaugural USA Caribbean Investment Forum was a great success due to the collaboration and engagement from individuals representing a wide range of sectors, organizations, and countries – all united under the goal of driving economic growth in the Caribbean and taking advantage of the enormous opportunities available in the region. https://www.investincaribbean.org/news-center/sign-up-for-our-newsletter to sign up for our newsletter.CAIPA and the representatives of the CARICOM Consular Corps are proud to have facilitated these conversations and supported deepening of relationships with key stakeholders throughout the US and the Caribbean. We look forward to our next event, which will be held on 6-8 March in Miami (Caribbean Logistics Investment Conference 2024) – focused on attracting investments into logistics and transportation by sea and air as well as e-commerce logistics and industrial logistics parks throughout the Caribbean. Stay tuned for more details! If you or anyone you know is interested in joining the CAIPA mailing list, please visit:
Babies exposed to Fentanyl at daycare, one dead and Mayor expresses outrage
#USA, September 26, 2023 – A New York woman was arrested for murder following the death of a 1-year-old boy at her daycare centre which authorities say was also being used to store illicit drugs. Grei Mendez was charged with one of her tenants, a male, Carlisto Acevedo Brito, over the shocking incident.
One-year-old Nicholas Dominici died of a suspected fentanyl overdose after being exposed to the drug in the daycare. In an update from the NYPD via Facebook live, we learned a kilo of fentanyl had been sitting in the same place where the children napped; three other babies reportedly had to be revived with a fentanyl antidote Narcan.
They were all two years old or younger.
Eric Adams, New York City Mayor, was enraged by the incident. He described it as ‘total madness.’
“Less than the size of a fingernail can kill an adult, so imagine what it would do to a child, you are irresponsible as an adult if you have this inside your home,” he said, “this is probably one of the worst days I’ve had walking into the Bronx– sitting down with those parents– what do you even say?”
Joe Kenny, Chief Detective on the case, revealed that around 2:41 on September 15, they responded to calls of three unconscious children at the licensed daycare centre. Emergency Medical personnel quickly recognized the symptoms and administered the antidote, saving two lives. Only two hours earlier, a mother had picked up the fourth child, who began to exhibit symptoms at home. He was administered Narcan as well.
All the children had fentanyl in their systems.
The accused are facing charges of murder, attempted murder and depraved indifference.
TWO SEXUAL Assault Cases begin in Providenciales Supreme Court
Freelance Court Reporter
#TurksandCaicos, September 26, 2023 – On Monday 25th September 2023 in the Providenciales Supreme Court before her Ladyship Ms. Tanya Lobban Jackson and a seven member Jury to be empaneled, there are TWO sexual assault/rape cases are listed to commence.
TRIAL 1: NICHOLL PRUDHOMME allegation date is on January 17th, 2022. The defendant is represented by Ms. Sheena Mair, who is also on bail.
The reported virtual complainant in this case is an adult in her 20’s.
TRIAL 2: DARROL FORBES allegations totaling six counts linked to alleged sexual abuse of one of his underage daughters.
The incidents, for which Forbes is being tried, range in dates from June 1st to August 31st in 2020.
Forbes is represented by Keith James and is on bail.
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