News
Invest TCI attends the 26th World Investment Conference 2022 organised by WAIPA
#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.
Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.
Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The
development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.
Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.
Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.
Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.
Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.
The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.
Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of
IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”
He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”
Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”
The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion
Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.
#TurksandCaicos, May 13, 2024 – Detectives of the Serious Crime Unit of the Royal Turks and Caicos Islands Police Force have
charged a man who allegedly stole a vehicle.
The accused, DANVANTE BRISCO, 30, of Kew Town, Providenciales, was charged with:
- One Count: Robbery
- One Count: Taking Motor Vehicle Without Authority
- One Count: Using Offensive Weapon to cause fear
Mr. BRISCO appeared in court today (May 13 ) and was granted bail of $7500.00 with one surety.
The matter was adjourned to July 05 for a Sufficiency Hearing.
#TurksandCaicos, May 13, 2024 – A 20-year-old Dock Yard male appeared in court today (May 13th) charged with a series of firearm-related offences.
The accused, JAMES SIMON, was denied bail and remanded into custody pending a Sufficiency Hearing scheduled for July 05th, 2024.
Mr. SIMON faces the following charges:
- One Count: Robbery;
- One Count: Gang Membership
- One Count: Possession of a Firearm for the Benefit of a Gang
- One Count: Possession of Ammunition for the Benefit of a Gang.
The charges against Mr. Simon followed investigations by officers of the Royal Turks and Caicos Islands Police Force into a robbery at the parking lot of a Casino where three males robbed a victim.
Additionally, Mr. Simon is charged with the following offences, having been arrested on May 02nd, 2024, along South Dock Road.
- One Count: Possession of a Firearm
- One Count: Possession of Ammunition
- One Count: Unlawful Entry
Officers also charged a teenage minor who was in the company of Mr. Simon on May 02nd with One Count of UNLAWFUL ENTRY.
The accused, seventeen and from Kew Town, Providenciales, pleaded guilty and will be sentenced on May 20th.
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