FEB 07

The Caribbean Rim Investment Initiative (CRRI) is presently assisting Grenada in its efforts to improve its investment climate, as well as to attract increasing flows on investment and to maximise the benefits of those flows.

CRII is a consultancy organisation that undertakes services for the Organisation for Economic Co-Operation and Development (OECD).

It intends to conduct a national survey in Grenada among two hundred local businesses in the coming weeks to determine whether or not investors should consider the island as a place to do business.

The survey will be funded by the Washington-based World Bank at the request of the state-run Grenada Industrial Development Corporation (GIDC).

A team comprising Xiaolun Sun of the International Financial Corporation (IFC) and the World Bank, Alvin Wint, Professor of International Business with the University of the West Indies (UWI) and Iza Lejarraga of CRRI was in Grenada last Thursday to meet with various interest groups in the country as a prelude to the survey.

Discussions were held with representatives of GIDC, the Grenada Employers Federation (GEF), Grenada Chamber of Industry and Commerce (GCIC), the Grenada Trades Union Council (GTUC) and other interest groups.

In speaking to reporters at a press conference held at GIDC's main office at Frequente last Thursday, Sun said that through the discussions the delegation members are hoping to determine the educational level of the labour force in the country.

She spoke of considerations being given to labour legislation, flexibility of the markets, road conditions and other liabilities. She pointed out that during discussions with trade union officials, they were able to identify a bit of tension on the labour front in Grenada.

Sun said she believes that the issue affecting both sides can be resolved through tri-partism. The official appealed to the companies selected to take part fully in the survey by answering all questions and to co-operate as much as possible since it is very important that the views of the private sector are reflected adequately on the questionnaire.
Acting General Manager of GIDC, Sonia Roden suggested that the project will help the private sector to become more competitive in this new business environment.

The survey, to be conducted over a six week period, involves both large and small companies. The visiting team expressed the hope that they will be able to compile the data collected as quickly as possible since the intention is to release the results of the findings by April.