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MSME Programme Managed by Invest TCI Announces Improved Amendments to the Programme

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#TurksandCaicos, December 9, 2022 – The Micro Small and Medium Enterprise (MSME) Programme managed by Invest Turks and Caicos Agency (Invest TCI) announced improved amendments to the Programme.

Invest TCI hosted a press briefing on Tuesday, December 6th at 10am at Beaches Turks and Caicos Resort Villages & Spa to announce the exciting amendments to the MSME Programme. Present at the conference were The Honourable E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade, The Honourable Rachel Taylor, Minister of Education, Employment and Customer Service, representatives from various government departments, key stakeholders, MSMEs, the media and other specially invited guests.

April 2016 saw the commencement of the Government’s MSME Programme, which Invest TCI manages with support from the Ministry of Finance. Governed by the MSME Development Ordinance 2015, the programme makes provision for the Government to provide concession orders to qualifying locally owned businesses operating in identified priority business sectors. The concession orders permit a company or start-up to receive specific benefits, namely: cash grants, customs duty reduction, and technical assistance, depending on the size of the business. The recent amendments to the MSME Programme see an expansion in the qualifying sectors, increases in cash grants depending on the size of the business, further coverage for technical assistance and provision for businesses to access an additional $10k if they meet specific KPIs. Additionally, MSMEs will experience a more streamlined application process with user-friendly forms.

The expanded sectors include:

  • Heritage/Cultural Historical Preservation Projects
  • Public/Mass Transportation
  • Healthy Living/Lifestyle
  • Food Processing/Food Packaging
  • Highly skilled or specialized services such as accountants, surveyors, engineers, Technicians, STEM (science, technology, engineering, mathematics)
  • Business with a direct correlation to the TVET Programme (majority owned by TVET graduate)
  • Renewable Energy/Energy Efficiency
  • Sea Salt Harvesting/Processing
  • Waste Management/Collection

Additional benefits for technical assistance include $5,000 for micro, $10,000 for small, and $15,000 for medium businesses.  The cash grant amount increased to $10K for micro, $20K for small, and $30K for medium enterprises.

Commenting on the event, Alexa Cooper, VP of SME Development, stated, “Firstly, I want to acknowledge and thank the team who worked diligently behind the scenes on the amendments to the MSME Programme. With the announcement of these new amendments and Invest TCI’s efforts to promote and streamline processes and procedures, we expect an exponential increase in applications, Concession Orders, and the value of benefits. Our goal is to exhaust the budget and ensure that MSMEs receive the help they need to run successful businesses”.

Angela Musgrove, CEO of Invest TCI, further stated, “We encourage locally owned small businesses and start-ups to take advantage of the opportunity and apply for assistance. Entrepreneurship plays a vital role in economic development and creates new enterprise that energizes the economy. We urge more entrepreneurs to contact us at Invest TCI to assist in bringing their projects to reality.”

The Honourable E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade, remarked, “I am delighted to see these amendments become a reality. As the MSME Programme falls under the Ministry of Finance, I was personally invested in ensuring a successful outcome from Cabinet. Honourable Saunders further stated, “It is our goal to empower entrepreneurs and assist in providing the necessary resources to kickstart their businesses. We want to ensure that Invest TCI’s activities are aligned to strategically focus on MSMEs with deliberate efforts to place greater emphasis on supporting domestic investment and entrepreneurship so that Turks and Caicos Islanders are empowered entrepreneurs and contributors to the TCI economy”.

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Invest TCI Strengthens Regional Investment Connections at Caribbean Investment Forum 2026 in Barbados

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Providenciales, Turks and Caicos Islands – Monday, 19th October 2026: Invest Turks and Caicos Agency (Invest TCI) strengthened its regional presence at the Caribbean Investment Forum (CIF) 2026, held October 5 – 7, 2026, in Bridgetown, Barbados, participating as both a sponsor of the Forum and representative of the Turks and Caicos Islands’ investment landscape.

The Caribbean Investment Forum brought together regional and international investors, government representatives, business leaders, entrepreneurs, investment promotion agencies, and development partners to explore investment opportunities, strengthen partnerships, and advance sustainable economic development throughout the Caribbean.

The Agency’s sponsorship of CIF 2026 formed part of its continued commitment to strengthening the visibility of the Turks and Caicos Islands within the regional investment community and building relationships with investors, development partners, investment promotion agencies, and businesses across the Caribbean.

The opening of the Forum was attended by the Honourable Mia Amor Mottley, Prime Minister of Barbados, who emphasised the importance of scaling regional investment, strengthening economic cooperation, and transforming innovative ideas into commercially viable opportunities. Invest TCI was represented by Ms. Alexa Cooper, Domestic Investment Officer, and Mr. Hezron Henry, Marketing Support Officer. Throughout the Forum, the delegation engaged with stakeholders and promoted the Turks and Caicos Islands as a competitive investment destination while exploring opportunities for greater regional collaboration and knowledge exchange.

Speaking on her experience at the Forum, Ms. Alexa Cooper, Chief Domestic Investment Officer, said:

“CIF 2026 provided another valuable opportunity to engage with donor organisations, investors and Investment Promotion Agencies (IPAs) from across the Caribbean. A highlight for me was the introduction of an exclusive masterclass for fund managers, investors and support organisations, which offered practical insights into unlocking capital, strengthening investment ecosystems and supporting investment-ready businesses. I was equally impressed with the quality of projects pitched, which showcased the region’s innovation and investment potential. It was encouraging to see projects presented with a clearer understanding of investor expectations, reinforcing the importance of not simply developing projects, but ensuring they are well-structured, investment-ready and positioned to attract the right investment partners.”

Accompanying the Invest TCI delegation was Mr. Sean Penn, Chief Executive Officer of Sky Poultry Farm Ltd., the first commercial egg and poultry production facility in the Turks and Caicos Islands. Mr. Penn’s participation provided an opportunity to showcase the development of domestic enterprise within the Turks and Caicos Islands while highlighting the potential of agriculture and food production as part of the country’s broader economic diversification efforts.

Through his participation at CIF 2026, Mr. Penn had the opportunity to engage with regional stakeholders, gain exposure to developments within the Caribbean agricultural sector, and explore potential partnerships and opportunities related to agricultural investment, innovation, and enterprise development.

For Invest TCI, the combination of sponsorship, investment promotion and local business representation provided a multifaceted platform to advance the Agency’s mandate. It allowed Invest TCI not only to promote the Turks and Caicos Islands to prospective investors but also to facilitate greater exposure for a local enterprise operating within an emerging sector of the economy. The Forum also provided opportunities for the Invest TCI delegation to exchange knowledge with regional counterparts, strengthen institutional relationships, and gain insight into investment trends and opportunities affecting Caribbean economies.

As the Caribbean Investment Forum continues to expand its regional reach, Santo Domingo, Dominican Republic, was announced as the destination for the next edition of the Forum, providing another opportunity to bring together investors, policymakers, investment promotion agencies and businesses from across the Caribbean and beyond.

Invest TCI looks forward to the continued growth of the Caribbean Investment Forum and the opportunities it creates to deepen regional partnerships, promote investment, and connect Caribbean businesses with new markets and sources of capital. The Agency remains committed to attracting sustainable investment, supporting domestic enterprise, encouraging economic diversification, and developing partnerships that contribute to the long-term economic development of the Turks and Caicos Islands.

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Bahamas News

Energy Minister Delivers Electrifying Keynote Opening Address at CAREC 2026  

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NASSAU, The Bahamas – The Bahamas’ Minister of Energy, Utilities and Aviation, The Honourable JoBeth Coleby-Davis, delivered an electrifying address during the opening ceremony of the 2026 CARILEC Resilient/Renewable Energy Community (CAREC) Conference and Exhibition, being held October 18–22, 2026, at the British Colonial Hotel in Nassau, The Bahamas.

Under the theme “Empowering Progress: Strategic Policy and Planning for the Energy Transition,” the event draws more than 200 industry leaders, policymakers, regulators, and energy professionals committed to advancing practical strategies for sustainable and reliable Caribbean power systems through renewable energy and emerging technologies.

During her address, titled “The New Energy Era: Transforming Policy into Progress,” Minister Coleby-Davis reminded attendees that The Bahamas’ national motto, “Forward, Upward, Onward, Together,” aptly describes what the region’s energy transition demands.

“Empowering Progress speaks directly to our national motto. Not waiting for progress, but creating the conditions that allow progress to happen. Meaningful progress, however, does not occur by accident. It requires vision, sound policy, strategic planning, strong institutions, and the determination to turn decisions into results,” said Minister Coleby-Davis.

Participants acknowledged that small island developing states share similar pressures, compounded by geographical challenges, small electricity markets, ageing infrastructure, geopolitical influences, and the growing threat of severe weather.

Tasked with ushering in a new energy era across the islands while addressing the challenges posed by The Bahamas’ unique archipelagic composition, Minister Coleby-Davis said, “Every island needs a different answer, but the same logic. As an archipelagic nation, we must provide electricity across many islands, each with its own demand and infrastructure needs. Our strategy, therefore, must be national in direction, but responsive to individual communities.”

Restating her Ministry’s three core messages—that energy is an economic and security priority, technology must be viewed as a tool to support strong institutional leadership, and natural gas should be considered a bridge, not a destination—Minister Coleby-Davis reiterated that “progress must now be reflected in functioning infrastructure, effective institutions, and better electricity services: from policy commitments to coordinated implementation, and from fragmented investment decisions to long-term planning.”

Organised by CARILEC and co-hosted by Bahamas Power and Light (BPL) and Grand Bahama Power Company (GBPC), the annual Conference and Exhibition brings together the Caribbean energy community to advance practical solutions to the region’s most pressing energy challenges and accelerate progress towards more resilient, reliable, and sustainable power systems.

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Bahamas News

Monument Supports Hands for Hunger With Paradise Plates Debut  

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NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ leading wine and spirits distributor, proudly supported Paradise Plates, Hands for Hunger annual fundraiser with a flavorful offering of its newest product, Monument Beverage Co.

Monument, which launched this July and is available across six major islands, made its Paradise Plates debut. Guests enjoyed three bold flavors: Peach Passion, Ginger-Lime and Melon Fizz as they socialized throughout the evening.

Monument brand ambassadors engaged guests with knowledge on the ready-to-drink beverage’s unique taste and look. Many attendees were delighted to learn that Monument is 100% Bahamian-made and owned and enjoyed seeing the various national landmarks on the packaging.

The booth was adorned with vibrant brand colors, striped arches, tropical florals and a photo worthy backdrop featuring Monument cans filled with florals cascading down the wall.

At the end of the event, the entire Monument inventory had finished, making Monument’s Paradise Plates debut a huge success.

For more details on Caribbean Wines & Spirits, new products and specials, visit www.cwsbahamas.com today.

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