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Invest TCI launches Revised National Investment Policy 2023  

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#TurksandCaicos, December 15, 2023 – Invest Turks and Caicos Agency successfully launched the Turks and Caicos Islands National Investment Policy 2023 on December 8th, held at the Wymara Resort. The event, hosted by Invest TCI, aimed to raise awareness of the revised policy, emphasizing its focus on empowering domestic ownership as a key driver for economic growth and job creation within the Turks and Caicos Islands.

The policy is designed to reflect a shared vision for developing the Turks and Caicos Islands, aligning with the UNCTAD Investment Policy Framework, the 2017 National Skills Audit, and the Vision 2040 document. Notable attendees at the launch included the Hon. E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade of the Turks & Caicos Islands, Chairlady of Invest TCI, Ms. Cindy Ewing, Deputy Chairman of Invest TCI, Mr. Walter Gardiner Jr., government officials, stakeholders, and Invest TCI staff.

Invest TCI’s commitment to connecting the policy to its development strategy is evident, emphasizing environmental, social, and governance factors while prioritizing domestic ownership. The policy’s implementation will rest on three pillars: Strategic Investment, Sustainable Practices, and Stakeholder Cohesiveness.

Key considerations within the investment policy include increased incentives for Turks and Caicos Islander owned investment projects, enhanced incentives for sector and location specific projects, a $10 million threshold for incentivizing Foreign Direct Investment projects, a national linkages program to strengthen the local private sector, incorporation of the Sustainable Development Goals, collaboration forums for potential investment projects, and the promotion of public-private dialogue.

Invest TCI actively supports domestic investors through facilitation and incentives, aligning with the government’s vision of increasing the number and value of domestic enterprises. Notable incentives include increased duty exemption for family islands, 100% duty exemptions for 100% Turks and Caicos Islander-owned projects, expedited work permits and licenses, reduced fees for senior managers, 100% exemption on capital investments in specialty areas, and 100% exemptions on housing developments.

Angela Musgrove, CEO of Invest TCI, expressed enthusiasm for the impactful decisions made to support strategic investments, particularly belonger owned businesses, while preserving the natural beauty and cultural heritage of the Turks and Caicos Islands. She invited stakeholders to explore the comprehensive Turks & Caicos Investment Policy and join in realizing the vision of a prosperous and sustainable future. This investment policy presents a deliberate tool for facilitating meaningful domestic participation in the development process.

The Hon. E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade, delivered remarks at the launch. He expressed profound gratitude to Invest TCI for their relentless dedication in shaping the National Investment Policy. His statement underscored the importance of collaborative efforts involving the government, private sector, and the public to propel unprecedented growth and development in the Turks and Caicos Islands.

Hon. E. Jay Saunders emphasized, “Today’s launch is not merely the introduction of a policy; it is the ignition of a transformative force. The Turks and Caicos Islands National Investment Policy is our beacon for a future that is not only prosperous but sustainable, one that resonates with the aspirations of our people and the unique character of our nation.”

He further stated, “Our stakeholders have demonstrated remarkable foresight and commitment in crafting a policy that not only aligns with global best practices but is specifically tailored to the unique needs of our islands. This is more than a policy; it is a blueprint for a thriving economy, a testament to our shared vision for a Turks and Caicos that stands tall on the world stage.”

For more information or to view a copy of the National Investment Policy, please visit Invest TCI’s website at www.investturksandcaicos.tc or telephone via telephone at 649 338 4772.

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Rights Without Justice: How Weak Enforcement Fails Women and Girls

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GLOBAL — Laws promising equality for women and girls exist in many countries around the world, yet millions still struggle to access justice when their rights are violated.

That stark reality is highlighted in a United Nations report titled “Ensuring and Strengthening Access to Justice for All Women and Girls,” released ahead of International Women’s Day and the 70th session of the Commission on the Status of Women, which begins March 9 in New York.

The report points to what experts call an “implementation gap” — the disconnect between laws that guarantee equality and the real-world ability of women and girls to enforce those rights.

While legal frameworks promoting gender equality have expanded globally, the report warns that many women continue to face significant barriers when seeking justice.

Among the most common obstacles are high legal costs, long distances to courts and services, language barriers, and low levels of legal literacy. Many women also face what researchers describe as “time poverty,” balancing work and caregiving responsibilities that make pursuing legal action difficult.

Bias and stigma within justice systems themselves can also discourage women from reporting abuse or seeking legal remedies.

The report notes that girls often face distinct and overlooked barriers. In many cases, justice systems lack child-centred procedures, making it difficult for girls to safely report harm or access legal protection. Issues such as child marriage and early pregnancy can further complicate their ability to assert their rights, particularly when they remain legally dependent on family members who may also be the source of harm.

Older women also face unique challenges, often shaped by lifelong patterns of discrimination and economic disadvantage. Gendered ageism can undermine their credibility, with complaints involving violence, neglect, health rights, pensions or property disputes sometimes dismissed or ignored.

The United Nations report also highlights structural weaknesses within justice systems, including limited budgets, shortages of trained personnel and poor coordination between institutions responsible for delivering justice services.

Another factor contributing to the enforcement gap is the continued male dominance within justice sector leadership, which researchers say can discourage women from engaging with institutions meant to protect them.

The findings come as the United Nations marks International Women’s Day under the theme “Rights. Justice. Action. For ALL Women and Girls,” a call for governments to move beyond commitments on paper and ensure that laws protecting women are fully enforced.

Global leaders say closing the gap between legislation and real-world outcomes remains one of the most urgent challenges in achieving gender equality and ensuring that women and girls everywhere can live safe, healthy and purposeful lives.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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Jamaica Joins Afreximbank Agreement, Strengthening Africa–Caribbean Partnership

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CARIBBEAN — Jamaica has become the 13th CARICOM member state to accede to the African Export-Import Bank Establishment Agreement, further strengthening economic ties between Africa and the Caribbean.

The development was confirmed during the 50th CARICOM Heads of Government Meeting, where an Afreximbank delegation led by George Elombi and Kanayo Awani met with Jamaica’s Prime Minister Andrew Holness to advance cooperation.

Prime Minister Holness thanked the bank for its support following Jamaica’s recent hurricane, noting that Afreximbank financing helped restore critical infrastructure including water, electricity, sewage systems and roads, while also assisting reconstruction efforts aimed at building stronger resilience to future disasters.

The meeting also focused on broader development opportunities tied to Jamaica’s membership in the agreement. Discussions included rebuilding and modernising infrastructure such as railways, hospitals and other public facilities, while strengthening regional transportation and trade networks to improve the movement of people and goods across the Caribbean.

Afreximbank has been expanding its presence in the Caribbean as part of its strategy to connect Africa with the region often referred to as “Global Africa.” The bank has already committed billions of dollars in financing and trade support to Caribbean economies in recent years, including funding for infrastructure, trade facilitation and private sector investment.

By joining the agreement, Jamaica gains expanded access to Afreximbank’s financial instruments, technical support and trade networks designed to promote commerce between Africa and CARICOM states.

Regional leaders say the growing partnership could unlock new opportunities in areas such as trade, logistics, tourism, manufacturing and cultural exchange, strengthening economic cooperation between the two regions with deep historical and diaspora ties.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Treasure Beach Village Opens at Beaches; Tourism Leaders Expect Surge in Bookings  

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PROVIDENCIALES, Turks and Caicos Islands — A major new chapter in Caribbean tourism has begun in the Turks and Caicos Islands with the opening of Treasure Beach Village at Beaches Turks and Caicos, a $150 million expansion expected to drive increased bookings, air arrivals and tourism earnings for the country.

The new oceanfront development, officially opened on February 28, adds 101 luxury multi-bedroom suites to the resort and introduces new dining, entertainment and family experiences designed to strengthen the destination’s position in the global luxury family vacation market.

Tourism officials and resort executives say the expansion is expected to generate greater demand for the destination, which in turn translates to more flights, more visitor spending and increased government revenue from hotel and tourism taxes.

The development is part of an ongoing investment strategy by Sandals Resorts International, which continues to expand the Beaches brand across the Caribbean.

Executive Chairman Adam Stewart described the opening as a powerful signal of confidence in the Turks and Caicos tourism product.

“This moment reflects a partnership between Sandals and the Turks and Caicos Islands that has been built over decades,” Stewart said during the opening celebrations. The new village, he added, builds on the brand’s reputation for creating multi-generational travel experiences where families reconnect and spend meaningful time together.

The resort expansion reinforces Beaches’ reputation as the world’s leading luxury all-inclusive resort brand for families, and Beaches Turks and Caicos continues to stand as one of the Caribbean’s most prestigious properties.

Government officials attending the ribbon-cutting ceremony, including Tourism Minister Zhavargo Jolly, said the investment strengthens the destination’s international standing and highlights continued confidence in the Turks and Caicos Islands as a premier tourism market.

The new village significantly expands the resort’s accommodation offerings with spacious ocean-view suites and high-end villas designed to host larger families and groups. The property now includes luxury options such as the CrystalSky four-bedroom beachfront villas and a multi-level Chairman’s Penthouse suite capable of accommodating up to ten guests.

Treasure Beach Village also introduces six new dining concepts, including the Pinta Food Hall with multiple global cuisine stations and Butch’s Island Chop House, a signature steakhouse previously exclusive to the Sandals brand.

Additional amenities include a 15,000-square-foot lagoon pool, waterslides and splash zones for children, a swim-up bar, and the brand’s first Starfish Cinema, a theatre designed for family movie nights.

Guests staying in the new village will also have access to the full Beaches Turks and Caicos experience, including 28 restaurants, the 45,000-square-foot Pirates Island Water Park, unlimited water sports and supervised children’s programmes.

Industry observers say the investment not only enhances the visitor experience but also strengthens Turks and Caicos’ reputation as one of the Caribbean’s most sought-after luxury destinations.

 

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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