Finance
New Investment plan to safeguard residents and environment
Dana Malcolm
Staff Writer
#TurksandCaicos, December 21, 2023 – With three different pillars to guide it, the new National Investment Policy will be working for the benefit of locals according to Angela Musgrove, CEO of Invest Turks and Caicos Agency.
“It has been tailored to suit the unique needs of Turks and Caicos Islanders, and we think that it perfectly aligns with the Vision 2040 document—our goal at the end of the day is to ensure that we place inclusive growth and sustainable development at the forefront of our endeavors,” she said.
The policy is timely, as the country faces rapid growth and residents complain of feeling left out of the economic
The three pillars of the policy are:
- Strategic Investment
- Sustainable Practices
- Stakeholder Cohesiveness
Strategic Investment will: ensure that investment is channeled to those sectors of the economy, and those areas of the community, that are most beneficial to the growth and development of the Turks and Caicos Islands and its people.
Sustainable Practices will: meet the needs of the present population without compromising the ability of future populations to do so.
Finally, Stakeholder Cohesion will: improve working relations among all private and public stakeholders, playing a role in the promotion and facilitation of all investment types.
Additionally, as climate change becomes an increasingly worrying issue for small island states, Musgrove said the policy gives Invest TCI more power when dealing with investors, to keep them in line with the country’s environmental priorities.
Going forward, the hope is for more collaboration between all stakeholders.
“We can’t operate in silos and expect the best out of investments,” Musgrove warned.
The CEO was speaking at the launch of the new National Investment policy on December 8.