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Invest TCI Drives Sustainable Growth for MSMEs

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Providenciales, Turks and Caicos Islands – December 3rd, 2024 – Invest Turks and Caicos Islands (Invest TCI) remains steadfast in its commitment to fostering sustainable economic growth through its Micro, Small, and Medium Enterprises (MSME) Programme. This flagship initiative has proven to be a cornerstone of local business development, providing critical financial support, technical assistance, and customs duty concessions to bolster entrepreneurship.

Programme Highlights

Since its inception in 2016, the MSME Programme has committed over $3.66 million, with $1.58 million disbursed as of March 2023, benefiting 180 MSMEs in priority sectors such as tourism, agriculture, fisheries, and public transportation. In the fiscal year 2023-2024, the programme supported over 50 projects, distributing $861,000 in cash grants, $159,180 in technical assistance, and $325,100 in customs duty concessions as highlighted in the MSME Annual Report 2023- 2024.

The MSME programme has recently expanded to include new priority sectors, increasing the total number of priority sectors to 16, thus enhancing its relevance and ability to address the evolving needs of the local economy. With a strong focus on inclusivity and accessibility, the program ensures that Turks and Caicos Islanders remain its sole beneficiaries.

While Providenciales continues to be the largest recipient of program funds, reflecting its role as a key economic hub, significant support has also been extended to other islands such as Grand Turk, North Caicos, and South Caicos. This underscores the programme’s far-reaching economic impact across the archipelago, fostering growth and development throughout the Turks and Caicos Islands.

Commitment to Governance and Transparency

Invest TCI continues to place transparency and governance at the forefront of its MSME Programme. A multi-sectoral committee meets monthly to evaluate proposals and make recommendations to the Minister of Finance, Investment, Trade, and Public Policy for approval.

In alignment with the MSME Development Ordinance 2015, the programme enforces strict monitoring and evaluation measures. Currently, 153 concession orders are actively monitored, with annual inspections conducted over a five-year period. These efforts ensure compliance and effective utilization of benefits, with over half of the supported projects remaining actively operational, underscoring the programme’s role in strengthening local businesses and economic resilience.

Streamlining the Application Process

Invest TCI has simplified the MSME application process to enhance accessibility and efficiency. Entrepreneurs can now complete a streamlined single-page online form, allowing applicants to submit their supporting documents digitally, and schedule consultations with MSME team members.

All approvals are published in the Government Gazette, and programme updates are shared across Invest TCI’s digital platforms, ensuring stakeholders are informed of progress and opportunities. Stakeholders are encouraged to follow Invest TCI on social media for timely updates and announcements.

Driving Results and Future Expansions

A recently concluded Impact Study, completed in July 2024 and based on the OECD DAC framework, evaluated the MSME Programme’s effectiveness. The study revealed that 74% of beneficiaries experienced enhanced sales, improved product development, and job creation, underscoring the programme’s transformative impact.

With 91.4% of allocated funds committed in the 2022-2023 fiscal year, the programme demonstrates strong resource allocation. Recommendations from the study will guide future operations, address disbursement bottlenecks, and enhance technical support.

Invest TCI’s proactive measures to expand programme capacity include increasing staffing to enhance monitoring and improve service delivery. The agency has also advocated for additional funding to support its growing roster of MSMEs.

Looking Ahead

Invest TCI is advancing its Business Linkages Policy to strengthen relationships between small businesses and larger enterprises, creating a cohesive ecosystem of shared success. By emphasizing governance, accessibility, and strategic growth, the MSME Programme continues to empower local entrepreneurs, bolster economic resilience, and ensure the benefits of development remain within the Turks and Caicos Islands. Entrepreneurs and businesses are encouraged to visit Invest TCI’s MSME webpage to learn more about the programme and follow Invest TCI on social media for regular updates and opportunities.

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Bahamas Issues Cybersecurity Alert Over Akira Ransomware Threat

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Nassau, The Bahamas, October 22, 2026 — The National Computer Incident Response Team of The Bahamas (CIRT-BS) has issued a cybersecurity advisory warning businesses, government institutions and other organisations about the growing threat posed by Akira ransomware, a cybercriminal operation capable of stealing sensitive information, disrupting networks and demanding ransom payments.

Active since March 2023, Akira operates through a Ransomware-as-a-Service model, with affiliates exploiting weaknesses in computer networks to gain unauthorised access.

Once inside, attackers can steal confidential data, disable recovery systems and encrypt files, preventing organisations from accessing critical information.

Particularly concerning is Akira’s use of double extortion, threatening to publish stolen information unless victims pay. Some attacks involve data theft without encryption.

The October 22 advisory identifies vulnerabilities involving Cisco and SonicWall firewalls, VPN services, Microsoft Remote Desktop Protocol, Veeam backup systems and outdated Windows and Linux operating systems. VMware ESXi and Nutanix AHV environments are also potential targets.

Attackers may exploit unpatched software, stolen login credentials and inadequately secured remote-access applications, including AnyDesk and RustDesk.

Warning signs include unexpected administrator accounts, unusual remote logins, unauthorised software installations, suspicious backup activity, mass file changes and ransom notes.

CIRT-BS recommends immediate security updates, multifactor authentication, restricted remote access, stronger network monitoring and secure backups maintained separately from operational systems.

Organisations should also remove unnecessary internet exposure of remote desktop services, limit administrative privileges and regularly test backup restoration.

The advisory does not identify any confirmed Akira attack against a Bahamian organisation but highlights vulnerabilities that could expose institutions to serious financial and operational disruption.

Cybersecurity incidents can be reported to CIRT-BS at soc@cirt.bs or through its official website.

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Crown Land Unit Leads Multi-Agency Enforcement Exercise in Five Cays

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Providenciales, Turks and Caicos Islands – Wednesday, 21st October 2026: The Crown Land Unit, with coordination and support from the Informal Settlements Unit (ISU), conducted a multi-agency enforcement exercise in the Five Cays area of Providenciales on October 8, 2026, as part of the Government’s ongoing efforts to address the illegal occupation and unauthorized use of Crown land.

The exercise brought together representatives from the Crown Land Unit, ISU, TCI Border Force and Royal Turks and Caicos Islands Police Force. Inspections were conducted across several parcels of Crown land in Five Cays, where instances of illegal occupation and unauthorized use had been identified.

During the exercise, a total of seven (7) Section 22 Notices of Unauthorized Occupation were issued in accordance with the provisions of the Crown Land Ordinance. The notices related to the unauthorized placement of shipping containers and derelict vehicles, as well as the construction of an incomplete concrete structure on Crown land. Where occupants or other responsible persons were not present, notices were affixed to the relevant structures or items.

The exercise forms part of the Crown Land Unit’s continuing efforts to prevent squatting and encroachment on Crown land and to ensure that instances of unauthorized occupation are identified and appropriately addressed.

The Government of the Turks and Caicos Islands reminds the public that occupying, developing or otherwise using Crown land without lawful authority is an offence under the Crown Land Ordinance. These inspections and enforcement activities form part of a sustained program aimed at safeguarding public lands, discouraging unlawful development and ensuring that Crown land is managed in the best interests of the people of the Turks and Caicos Islands.

The Crown Land Unit will continue to work closely with the ISU and other partner agencies to identify and address instances of illegal occupation across the Islands. Persons occupying Crown land without authorization are encouraged to comply with all notices issued and to seek guidance from the relevant authorities where necessary.

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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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