SKIPA Director Represents St. Kitts and Nevis at OECS Investment Summit in Miami

St. Kitts and Nevis participated in two crucial international events focused on enhancing the investment climate in the Organization of Eastern Caribbean States (OECS) region. These events, held in Miami in May 2025, brought together key stakeholders including government ministers, investment officials, and global development partners to discuss strategies for attracting Foreign Direct Investment (FDI) through the implementation of the World Trade Organization’s (WTO) Investment Facilitation for Development (IFD) Agreement. The participation of St. Kitts and Nevis, represented by Mr. Stanley Jacobs, Director of the St. Kitts Investment Promotion Agency (SKIPA), underscored the nation’s commitment to fostering a conducive environment for sustainable investment.

The first event centered on the OECS Investment Facilitation Self-Assessments, a project initiated in 2024 to evaluate and improve investment procedures within the OECS member states. Mr. Jacobs played a pivotal role in presenting St. Kitts and Nevis’s progress on these self-assessments, engaging in discussions on administrative reforms, digitalization of processes, and capacity-building initiatives designed to attract high-quality investments. This collaborative effort aimed to identify key areas for reform and develop country-specific strategies to streamline investment processes and create a more attractive environment for foreign investors.

The second event broadened the scope to include wider Caribbean participation, encompassing CARICOM member states, the Dominican Republic, Ecuador, private sector representatives, and international development agencies. This gathering served as a platform to highlight the potential of the WTO’s IFD Agreement to transform the region’s investment landscape. Discussions focused on improving regulatory efficiency, promoting transparency, and fostering cooperation among Caribbean nations to position the region as a desirable and reliable investment destination. The event underscored the collective commitment to leveraging the IFD Agreement as a catalyst for economic growth.

A central theme emerging from these discussions was the need to redefine the approach to FDI, moving beyond traditional models reliant on volatile capital and external actors. Dr. Didacus Jules, Director General of the OECS, emphasized the importance of reimagining FDI as a tool for inclusive and sustainable development. He advocated for a shift towards a diversified investment model that leverages diaspora capital, empowers domestic entrepreneurs, and integrates sustainability into investment decisions. This vision emphasizes community-driven growth and a more equitable distribution of the benefits derived from foreign investment.

The IFD Agreement, adopted by the WTO in 2024, provides a framework for achieving these goals. It aims to enhance transparency in investment procedures, reduce bureaucratic hurdles, and foster greater international cooperation to facilitate increased FDI flows into developing and least-developed countries. With strong support from a majority of WTO members, including several Caribbean nations, the IFD Agreement represents a significant step towards achieving inclusive, climate-resilient, and innovation-driven economic growth in the region. The commitment to implementing the agreement reflects a growing recognition of the need for a more sustainable and equitable approach to investment facilitation.

St. Kitts and Nevis, under the leadership of Mr. Jacobs and SKIPA, has positioned itself at the forefront of these efforts. The active participation in the Miami events demonstrates the nation’s commitment to modernizing its investment framework, aligning its policies with regional and global best practices, and fostering investor confidence. This proactive approach aligns with the government’s broader vision of utilizing investment as a driver of national development and social upliftment. By embracing the principles of the IFD Agreement and adopting a forward-looking approach to investment facilitation, St. Kitts and Nevis aims to establish itself as a leader in attracting sustainable and impactful FDI. The collaboration with the OECS, WTO, and international partners signifies a concerted effort to create a more prosperous future for the region, with St. Kitts and Nevis playing a key role in this transformative process.