Dr Didacus Jules, director general of the OECS Commission, emphasised the critical need to “reimagine investment as a pathway to inclusive prosperity”. He highlighted that while FDI has historically been a cornerstone of economic strategy in the OECS, contributing significantly to GDP, job creation, and infrastructure development, traditional models require reassessment due to vulnerabilities like volatility, intra-regional competition, shallow linkages, and environmental and social risks. D. Jules advocated for a new investment paradigm that is strategically diversified, socially inclusive, and environmentally sustainable, integrating diaspora capital, community financial institutions, and domestic entrepreneurship. The Investment Facilitation for Development (IFD) Agreement, finalised at the 13th WTO Ministerial Conference in February 2024, is a landmark accord endorsed by 126 WTO members. Its core purpose is to enhance transparency, streamline administrative procedures, and promote international cooperation to facilitate FDI flows, particularly to developing and least-developed countries (LDCs), thereby contributing to their sustainable development objectives. The successful conclusion of these events marks a significant step towards reinforcing national efforts on investment facilitation already underway in the Caribbean region, ensuring that FDI serves as a true catalyst for inclusive and sustainable development. 12 BUSINESS VIEW CARIBBEAN VOLUME 12, ISSUE 05
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