BUSINESS FORUM and EXPO

Introduction

For many, the Year of Homecoming is not just a chance to welcome those who have returned, but many Vincentians both home and abroad, are interested in investing in businesses in St. Vincent and the Grenadines thereby contributing directly to the nation’s economic development. However, interested persons often like specific recommendations regarding viable options available to them. Added to this many are unaware of the infrastructure, incentives and support services that would facilitate the development of businesses.

This event therefore brings tremendous benefits to St.Vincent and the Grenadines as the health and wellbeing and prosperity of the private sector is absolutely paramount to the economic welfare of St.Vincent and the Grenadines. The event is expected to help to raise awareness of local businesses, raise the country’s profile as a business location and also demonstrate what the country has to offer directly to potential investors. The Business Forum and expo will further facilitate connections and business networks to propel local business to the forefront of international commerce.

Partners in the effort

St.Vincent and the Grenadines Chamber of Industry and Commerce St.Vincent and the Grenadines Chamber of Industry and Commerce is the oldest and largest non-governmental private sector organization in St.Vincent and the Grenadines. The key purpose of the organization is to enable private sector growth and development, facilitate trade and encourage investment. The SVGCIC, as the main voice of the business community, maintains close links with Government and increasingly contribute to the development process of the country

Regional Integration and Diaspora Unit

National Investment Promotions Inc

NIPI is a one-stop shop that is “bridging the gap” between St.Vincent and the Grenadines and potential investors through dynamic, customer-focused strategies aimed at enhancing Trade and Foreign Direct Investment Flows. The NIPI is responsible for attracting investment in all economic sectors, with special emphasis on Hotel Development, Light Manufacturing and Agro-Processing

Center for Enterprise Development

The Center for Enterprise Development is a statutory body whose mission is to strengthen the institutional support base for private sector development in St.Vincent and the Grenadines. Its vision is to be the focal point for the delivery of technical support, advisory and information services to the private sector for the facilitation of an enabling environment. This will in turn encourage the growth and development of an entrepreneurial spirit in St.Vincent and the Grenadines. The main objective of the CED is to increase the number of viable enterprises.

Ministry of Telecommunication, Science, Technology and Industry

The Ministry is responsible for the development of the local business sector. A component of the Ministry’s work is SFA 2005, the ICT development program. One specific objective of this program is to establish a supportive framework for the development of high quality services to businesses and for the application of ICT in small and medium sized rural and other enterprises to improve performance and competitiveness.

Business Forum Mission:

The objective of the forum and expo is to enhance the economic and social standing of the private sector in St.Vincent and the Grenadines by facilitating peer-to-peer support networking, providing information about business opportunities, as well as, by encouraging Vincentians to invest in businesses (new and existing) in St.Vincent and the Grenadines.

The Forum:

From October 21-23, 2009, more than 100 small to medium sized businesses and business persons from St.Vincent and the Grenadines and around the world will gather in Kingstown, St.Vincent and the Grenadines during Vincy Homecoming festivities to form and strengthen business relationships of mutual benefit.

The theme of this year’s forum and expo is ‘The Local Private Sector; Fuelling New Growth in Tough Times’.

The initiative is part financed by the European Union through the RIDU and CED. Business leaders will take part in an intensive programme of seminars covering topics such as the global economy, emerging economies and climate change.

Dedicated Forums

Business matchmaking

This event will be targeted for those seeking commercial, financial, strategic or technological alliances. It will employ a unique concept of pre-arranged, one-on-one meetings over the three-day period, during which participants have the opportunity to meet with businesses and private sector support institutions of their choice.

Expo

The Business Forum also incorporates a showcase of existing businesses in St.Vincent and the Grenadines. The expo will highlight and celebrate local businesses. It will provide ample opportunities to meet and network with local business persons and understand their product and service offering in an intense, but friendly environment conducive to B2B linkages.

Symposium

The Business Forum and Expo will culminate in a symposium where presentations will be made by various Private sector partners and stakeholder. The symposium aims to build consensus on collaborative and innovate approaches to achieving greater investments in businesses in St.Vincent and the Grenadines. Information will be provided on the local economic situation and the many advantages of doing businesses in St.Vincent and the Grenadines.

ICT Forum

The ICT Forum will be designed to foster a spirit of innovation in the development of ICT-based practical solutions, to raise awareness of and to encourage the adoption of ICT solutions for greater economic and social development.

The Audience

The Business Forum and Expo will include features specifically designed for:

• Persons interested in investing in businesses in St.Vincent and the Grenadines
• The Private Sector
•  The Public Sector  
• Leaders  
• Youth

Anticipated Results

• Greater understanding of the issues impacting the private sector in St.Vincent and the Grenadines
• Raised awareness of the local private sector players
• Strengthened ties between persons in the Diaspora and local businesses   
• Enhanced support for local business development
• Increased investment in businesses in St.Vincent and the Grenadines

These goals are directly congruent with the mandate of all the partner organizations for enhanced private sector development leading to overall economic development

Invitation to support and Participate

The mission of the Business forum and Expo cannot be accomplished solely through the efforts of the partner organizations but require the collective and collaborative involvement and participation of multiple stakeholders. Interested parties may support the Forum by simply attending, showcasing products and services, facilitating discussion, advertising and /or donating prizes for competition.