June 2014

Local Firm Awarded First Compete Caribbean
Technical Assistance
Grant in Barbados
Compete Caribbean, CLL, IDB, DFATD and CDB representatives. 

Caribbean LED Lighting (CLL) has successfully won a bid to further develop its business and increase its export markets through Compete Caribbean technical assistance valued at USD250,000.

 

CLL is the first Barbadian firm to receive a grant from the Compete Caribbean program and one of eight firms in the Region to be awarded a grant to date. A component of the Compete Caribbean program is its Enterprise Innovation Challenge Fund, which has opened five calls for proposals for individual firms and yielded 590 applications from firms around the Region since the inception of the Program in 2010. Of the almost 600 firms to apply, 40 firms have also been the recipients of technical assistance from the Program. Read More 


Compete Caribbean Exhibits at
Inaugural IDB Procurement Fair
 

Compete Caribbean booth at the fair. 
The inaugural IDB Procurement Fair
held by IDB Barbados to build awareness on procurement opportunities in the Bank and sought to bring further transparency, efficiency, economy and increased competition to the procurement process was heralded a success.
 
Compete Caribbean took advantage of the event to explain more about the role of the Program and to also highlight its upcoming procurement availabilities over the short-term. There are currently over 50 projects in implementation under the Compete Caribbean  Program, and the Fair provided the ideal platform for the Program to showcase its portfolio and procurement offerings at this time. 

Barbadian Private Sector Benefit
From ConectAmericas Tutorial


Over 30 enthusiastic persons from Barbados' private sector listened attentively and contributed significantly when IDB's Consultant - Trade & Investment Unit, Francisco Estrazulas visited Barbados recently to walk them through the ConnectAmericas platform.

The interactive session generated many thought provoking questions and suggestions from the engaged audience who praised the IDB for having the foresight to introduce a social network for businesses in the Americas, dedicated to promoting foreign trade and international investment. So far 5,500 persons across Latin America & the Caribbean have registered. Register Now

Francisco Estrazulas listens attentively to the audience.

BCCI Initiates Feasibility Study Into  

an Alternative Dispute Resolution Centre

 

Lisa Gale 

The Barbados Chamber of Commerce and Industry (BCCI) has initiated a feasibility study into the establishment of an Alternative Dispute Resolution (ADR) centre in Barbados.

 

Executive Director of the BCCI, Mrs. Lisa Gale advised: "For some time there have been concerns raised by the private sector about the long delays in the courts, and these delays have impacted many businesses in terms of high costs and delayed business decisions. One of the roles of the BCCI is to lobby for an effective and enabling business environment and the BCCI believes that the use of Alternative dispute resolution is one step in the right direction."

 

Ms. Gale added: "ADR is widely used in other jurisdictions as a means of settling disputes without the matter going to court. This assists in reducing bottle necks in the court system and can provide for a quicker resolution of disputes."

 

Compete Caribbean provided the technical and financial assistance for an extensive feasibility study and due diligence analysis to be conducted by Ms. Baria Ahmed, an expert in ADR from the UK. Ms Amed has been in Barbados speaking with several stakeholders in the government and private sector.  

 

"From a preliminary review, Barbados is already well positioned to have an ADR Centre for domestic, regional and international disputes, but the study will also examine if such a centre would be sustainable," said Ms. Ahmed.  

 

A review of the ADR expertise already in Barbados will also be conducted and opportunities which exist for ongoing capacity building through established educational institutions such as the University of the West Indies.

 

Ms. Ahmed will be returning to Barbados at the end of July to continue her meetings with stakeholders. Her official report is due at the end of September after she has a final meeting with stakeholders.  

CONSULTANCY OPPORTUNITIES! 
Opportunities are currently open in the following categories: Medical Tourism, Procurement, Purified Water, Private Education, Medicines & Distribution Channels and Clusters. Learn More
  
INVITATION: VIRTUAL DISCUSSION
Innovation and Competitiveness in the Caribbean

The online Community of Practice of the Inter-American Competitiveness Network (RIAC) and the Americas Competitiveness Forum (ACF) will be hosting a Virtual Discussion on Innovation and Competitiveness in the Caribbean commencing on Monday, July 14th, 2014, focusing on the challenges faced by small states. Learn More  

 

 ARE YOU AN INNOVATIVE START-UP? 

The Inter-American Development Bank (IDB) has announced it launched a competition to select 15 start-ups from Latin America and the Caribbean to take part in an innovation seminar that the Bank will hold in Washington, D.C. December 1-3. Deadline is July 16, 2014. Learn More 
   
IDB Launches Latin America & Caribbean Energy Database
This 21st century database, produced by the IDB Energy Division and the Energy Innovation Center, presents complex systems in an interactive, user-friendly and visually compelling format. It is a very useful tool, and a great asset to the work and efforts to reduce poverty and inequality in the Region. Learn More and Read More 

  

Is There a Caribbean Sclerosis?  

Stagnating Economic Growth in the Caribbean

The IDB's Caribbean Economics Team is pleased to present a report, which comprehensively addresses the issue of poor economic growth in the Caribbean. It is structured around the following key questions:
  • Does the country's size matter for economic growth and volatility?
  • What could account for the Caribbean growth gap?
  • Which economic policies might decision-makers adopt to promote higher and sustainable economic growth? Read More

'Hythe'

Welches

Maxwell Main Road

Christ Church

BB17068

Tel: 246-627-8500
Email: competecaribbean@iadb.org