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Invest TCI attends the 26th World Investment Conference 2022 organised by WAIPA

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#TurksandCaicos, October 6, 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.

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ELECTRICITY BILL SHOCKER: PELICAN ENERGY WARNED GOV’T

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TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response

PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.

Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.

That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.

Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.

He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.

Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.

Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.

Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.

Saunders did not disclose the programme’s total cost.

His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?

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Bahamas News

More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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Health

47,459 MEASLES CASES, 44 DEATHS ACROSS AMERICAS  

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WASHINGTON, D.C. — The Americas has recorded 47,459 confirmed measles cases and 44 deaths in 2026, the region’s highest case count in 22 years, prompting the Pan American Health Organization (PAHO) to urge stronger vaccination, surveillance and rapid outbreak response.

As of July 18, cases were already more than triple the 15,011 recorded during all of 2025. Guatemala, Mexico, the United States and Peru account for 95% of confirmed cases. Guatemala leads with 30,371 cases and 26 deaths, followed by Mexico with 12,255 cases and 17 deaths.

PAHO classifies the regional public health risk as very high, citing active outbreaks, immunity gaps, international travel and populations with inadequate vaccination coverage.

The organization says prevention starts with vaccination. Countries are being urged to achieve and maintain at least 95% coverage with two doses of measles-containing vaccine, particularly protecting children and under-vaccinated communities.

Measles spreads through the air when an infected person breathes, coughs or sneezes. Symptoms can include fever, cough, runny nose, red eyes and a rash.

PAHO is urging health authorities to detect suspected cases early and respond rapidly to stop transmission. Unvaccinated and under-vaccinated people, young children and communities with limited healthcare access face increased risk of severe illness and death.

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