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TCI to Undertake Major Investment in Agriculture; plans revealed at Caribbean Summit
#TurksandCaicos, October 7, 2021 – The Turks and Caicos Islands Government is moving to expand the agriculture industry to achieve food security and to supply the growing tourism industry.
Making the disclosure at a virtual Caribbean Agtech Investment Summit, on Tuesday (October 5), and hosted by the Caribbean Association of Investment Promotion Agencies (CAIPA), Premier Washington Misick said the investment will be “substantial” and done over the next few years.
Adding that the focus will be on agriculture and aquaculture, he said it will be geared at boosting food production “to supplement food import that we have to do in order to supply our population,” and the hospitality sector, he said.
While noting that the island is in a “good position” to continue economic growth that has been associated with the TCI, the Premier said the COVID-19 pandemic has taught some “harsh lessons” for food security.
“We cannot depend completely on external sources of food supply, and our new thrust on developing the agricultural sector is to make sure that get some degree of food security,” the head of Government told his audience,
The Premier said the TCI is enjoying a welcomed period of visitor arrivals to the island, and with more than 70 per cent of the population being fully vaccinated against the Coronavirus (COVID-19), so that the various sectors can continue on the growth trajectory.
The event was also hosted in conjunction with the Caribbean Agribusiness Association (CABA), and saw addresses from the TCI Minister of Agriculture, and the Chief Veterinary Officer, and other regional agricultural officials, and business executives.
The Summit sought to support the work that is already underway in the Caribbean to address challenges through the attraction of investment into the agribusiness sector, with focus on high investment and production expansion for various crops.
Given the inherent changes in the region, using increased technology in the agri-business sector to augment production, productivity and sustainability, the application of best practices has become a for many countries.
Another focus for the forum was the promotion of the Caribbean as a destination for investment in high tech agribusiness ventures, with concentration on the production of crops, meat, and seafood, as well as value added productions that can be produced in the region, using smart technologies.