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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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Government

$94.1Mfor Health; Knowles Pushes to Keep Care at Home

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Turks and Caicos, April 25, 2026 – A major shift in how healthcare is delivered in the Turks and Caicos Islands is at the center of the Government’s latest budget, with a focus on reducing reliance on overseas treatment and strengthening services at home.

Presenting his contribution to the national debate, Kyle Knowles outlined a strategy aimed at building a more sustainable healthcare system—one that allows more residents to access quality care within the country.

The health sector has been allocated $94.1 million, making it one of the largest areas of public spending in the $550.8 million Budget passed on April 23.

Central to the Minister’s approach is a restructuring of the Treatment Abroad Programme (TAP), which has grown significantly in recent years as more patients are sent overseas for specialized care.

The Government now aims to reverse that trend.

“We are reforming healthcare to ensure long-term sustainability,” Knowles indicated, pointing to efforts to strengthen local services and reduce the need for travel.

The strategy includes improving healthcare infrastructure, expanding services available within the islands and increasing efficiency through the digitization of medical records.

Digitization is expected to support better coordination of care, reduce delays and allow for more accurate tracking of patient needs—part of a broader effort to modernize public services.

The Minister emphasized that the goal is not only cost control, but improved access.

“No family should have to leave home to get quality care,” he said, underscoring the Government’s intention to refocus healthcare delivery on local capacity.

The shift comes as rising healthcare costs continue to place pressure on public finances, with overseas treatment representing one of the most expensive components of the system.

By investing more heavily in domestic services, the Government is seeking to reduce that burden while improving outcomes for residents.

While the direction is clear, details on timelines and the pace of expansion for local services were not fully outlined in the presentation.

Still, the emphasis on sustainability, access and modernization signals a strategic pivot in how healthcare is expected to evolve in the Turks and Caicos Islands.

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

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Government

Premier Defends Budget Strategy, Rejects Claims of Inefficiency

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Turks and Caicos, April 25, 2026 – Premier Charles Washington Misick has pushed back against criticism of the Government’s newly passed budget, defending both its direction and execution as deliberate and necessary for national development.

Wrapping up debate on the $550.8 million Budget, passed on April 23, the Premier dismissed concerns raised by the Opposition about inefficiency, rising costs and gaps in delivery, insisting the Government’s approach is measured and focused on long-term growth.

“This budget is about delivering for our people,” Misick said, as he reinforced the administration’s commitment to infrastructure, healthcare expansion and broader economic development.

Opposition Leader Edwin Astwood had earlier challenged the Government’s performance, pointing to unfilled posts, delayed projects and what he described as weak execution despite increasing allocations.

In response, the Premier rejected the notion that the Government is failing to deliver, instead arguing that building national capacity takes time and sustained investment.

He maintained that staffing challenges are being addressed and that improvements across ministries are ongoing, even as demand for public services grows.

The Premier also defended the scale of spending, framing it as a necessary step to support development across the islands, rather than unchecked expansion.

“We are investing in the future of this country,” he said, pointing to continued funding for infrastructure, community development and public services.

On the question of equitable growth, Misick reiterated his administration’s focus on balanced development, including ongoing investments in the Family Islands.

He argued that progress is being made, even if transformation is not occurring as rapidly as some would like.

Throughout his closing remarks, the Premier leaned on the country’s economic fundamentals—highlighting strong cash reserves, stable growth projections and international confidence in the Turks and Caicos Islands’ fiscal management.

While the rebuttal addressed criticism head-on, it did not significantly alter the structure of the budget or introduce major new measures in response to concerns raised during the debate.

Instead, the Government’s position remained consistent: the plan is in place, the investments are targeted, and delivery will continue.

The exchange underscores a clear divide—between an Opposition pressing for faster, more measurable results, and a Government maintaining that its strategy is already on course.

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

PHOTO COURTESY OF THE OFFICE OF THE PREMIER

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Government

Digital Government Push Advances, but Reliability and Security Details Remain Unclear

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Turks and Caicos, April 25, 2026 – There was no mistaking the enthusiasm of the Minister of Finance, Investment and Trade, E. Jay Saunders, as he laid out his vision for a more digitally driven Turks and Caicos Islands—one where services are faster, systems are connected, and doing business is easier.

But within that forward-looking presentation, what remained notably absent were clear timelines and defined measures to ensure data security and system reliability.

“We are moving toward a fully integrated digital government,” Saunders told the House, as he outlined a future where public services are delivered seamlessly through technology.

With responsibility for the country’s economic and digital transformation, Saunders pointed to several areas expected to be reshaped by the rollout of e-government systems, including revenue collection, business licensing, customs processing and access to public services—all designed to reduce delays, improve compliance and streamline transactions.

The vision is one of convenience and efficiency: fewer lines, faster approvals, and systems that communicate across departments rather than operate in silos.

Within the framework of the Government’s $550.8 million Budget, passed on April 23, the digital push is positioned as a key driver of modernization and improved service delivery.

However, for many users, the experience of government systems today remains inconsistent.

Periodic outages, payment disruptions and service downtime continue to affect daily transactions, raising practical concerns about how quickly the country can transition to a fully digital model.

Despite the scale of the ambition, the Minister’s presentation did not directly address how system reliability will be strengthened or how data will be protected as more services move online.

Those elements—uptime, security and resilience—are critical to public confidence, particularly as businesses and residents become increasingly dependent on digital platforms to access government services.

The direction is clear, and the potential impact is significant.

But as the country moves closer to greater digital dependence, the success of that transformation will ultimately rest not just on what is promised—but on whether the systems can be relied upon when they are needed most.

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

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