November
2014
 

Near $200m Energy Saving From Natural Gas Switch

 

By Neil Hartnell  

Tribune Business Editor (Bahamas)

 

The Bahamas would realise between $172-$186 million per annum in "net savings benefits" if it switched to natural gas as its main energy generation source, with this nation's electricity system costs the highest in the Caribbean.

 

A December 2013 study, funded by entities such as Compete Caribbean and the Inter-American Development Bank (IDB), found that the Bahamas' would be the third greatest economic beneficiary in the Caribbean - behind the Dominican Republic and Jamaica, which have much larger populations - if the region switched from fossil fuels to natural gas.

 

The Bahamas Electricity Corporation's (BEC) power generation costs, using its 2010 financial report as the base, totalled $466 million - split into $378 million for oil purchases, and $88 million in carbon dioxide-related emission costs.

 

But, under three scenarios employed by the report, a 'Pre-Feasibility Study of the potential market for natural gas as a fuel for power generation in the Caribbean', it was shown that the Bahamas could slash its annual electricity generation costs by $25 million, $186 million and $172 million, respectively. Read More and View Study

Jamaica Private Sector Assessment Report (PSAR) Completed

The private sector is crucial to achieving inclusive growth. Compete Caribbean's Private Sector Assessment Reports (PSARs) provide comprehensive overviews of the private sector in 14 CARIFORUM countries. In each of these, the following areas are specifically developed:

 

* Primary components of the productive sector;

* Key challenges;

* Potential emerging sectors;

* Policy recommendations for priority areas.

 

The assessments draw on international and local data sources, as well as on interviews with key stakeholders. The initiative focuses on the salient policy issues that require attention in order to improve competitiveness and foster private sector development (PSD). View

Compete Caribbean: Breathing New Life into the Region
  
The Caribbean is a region known for its magnificent beauty, rich diversity, unique culture, and abundant natural resources. Despite these qualities, the region faces declining long-term growth and major challenges, including high debt levels and stagnant productivity.

 

To help address these challenges, major donor agencies in the region came together to form Compete Caribbean. With 91 projects in execution and 36 projects with regional scope, Compete Caribbean is breathing new life into the region. View our regional impact below. 

Compete Caribbean

Compete Caribbean:

Breathing New Life Into The Region



Pure Grenada, Sweet Grenada...This Is Home!

The Pure Grenada brand is largely supported by Compete Caribbean and we are proud to be partnered with a trademark that has soared since its launch in February 2014...experience Pure Grenada below.
Pure Grenada Launch Video
Pure Grenada Launch Video

 Productivity Takes Centre Stage In St. Lucia Recently

 

The Government of Saint Lucia in collaboration with the National Competitiveness and Productivity Council (NCPC) organised a "Productivity Awareness Week" between October 13 - 18, 2014.

 

This initiative formed part of the Government's overall thrust to promote the awareness of productivity and to also showcase initiatives that are being undertaken by both the private and public sectors geared towards the promotion of productivity. The exercise assisted in inculcating productivity-consciousness among the citizenry and its theme was "Enhancing Productivity is our Responsibility".

 

Executive Director of Compete Caribbean, Sylvia Dohnert delivered remarks at the Official Opening Ceremony. The NCPC is actively supported by Compete Caribbean through the Program's efforts to strengthen that agency in St. Lucia.

 

Objectives for the week were:

1.  To foster an awareness/understanding of productivity at all levels of society

2.  To discuss measures that can be taken to enhance productivity in this current economic climate (both within the private and public sectors)

3.  To begin the process of inculcating a mindset change in our citizens

 

Prior to the commencement of the week of activities, an essay competition with productivity as its theme was held throughout secondary schools. The competition  targeted students from forms 3 - 5.  There was also be a debating competition held amongst the various divisions of the Sir Arthur Lewis Community College.

Tourism Forum - A Significant Element Of St. Lucia's Productivity Week

 

As part of the activities for Productivity Awareness Week, a tourism forum was held on October 16, 2014 at the Bay Gardens Hotel. Invited guests included small hoteliers, restaurateurs, representatives from the Ministry of Tourism and The St. Lucia Tourist Board and members of the Saint Lucia Hotel and Tourism Association (SLHTA).

 

The forum included the release of results of the productivity assessment for the sector, recommendations for improving productivity, local success stories and guest speakers on productivity and business strategies. Two important subjects highlighted within the forum included ICT in Tourism; Innovation and Technology for Growth and The Relationship Culture of the Caribbean.

 

Those in attendance found the release of the results from the productivity assessment enlightening. The study highlighted the level of Productivity in Hotels & Restaurants on the island measuring the productivity based on labour and capital. The study showed that from 2002 to 2013 there has been inconsistent productivity growth when compared to the rest of the economy. One of the major challenges affecting labor productivity based on employment is the downswing of the economy and changes in technology. View Measuring Productivity in Tourism; Winston Moore

 'Hythe'

Welches, Maxwell Main Road

Christ Church, BB17068

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