Business View Caribbean - June 2024

members over 17 years. Theodore underscores the association’s mission: “It’s about collaboration. Each island has its own investment promotion agency, and by working together, we address similar challenges and maximize opportunities.” Theodore highlights CAIPA’s focus on four main areas: capacity building, research and data management, promotion, and policy advocacy. These pillars ensure that the region is marketed effectively as a unified investment destination while catering to the individual needs of each member state. CAPACITY BUILDING Capacity building and policy advocacy are integral to CAIPA’s operations. “We focus on training and capacity building for member states, enhancing their ability to attract and manage investments,”Theodore says. Research and data management efforts are also critical, providing the necessary information for effective policy advocacy and investment promotion. CAIPA organizes various training programs and workshops for its member agencies. The initiatives cover various topics, from investment promotion techniques to regulatory compliance. By fostering a culture of continuous learning, CAIPA ensures that its members remain at the forefront of investment promotion. Policy advocacy is a critical component of CAIPA’s work.The association collaborates with governments and policymakers to create an enabling environment for investment. “We advocate for policy reforms that facilitate business operations and attract investments,”Theodore says. This includes lobbying for incentives, streamlining regulatory processes, and ensuring the legal framework is conducive to business growth. RESEARCH AND DATA MANAGEMENT Accurate and timely data is crucial for informed decision-making. CAIPA places a strong emphasis on research and data management to support its member agencies. Theodore notes, “We want to be able to continue compiling data because data is king. If you want to make a decision, you’re looking for information.” This data-driven approach allows member agencies to craft compelling investment 17 BUSINESS VIEW CARIBBEAN VOLUME 11, ISSUE 06 THE CARIBBEAN ASSOCIAT ION OF INVESTMENT PROMOT ION AGENCIES