Press Release

Premier's Office
Department of Trade, Investment, Promotion and Consumer Affairs
Release Date:
Tuesday, 12 November 2019 - 9:44am

The Government of the Virgin Islands hosted a five day workshop during the period of November 4 through to the 8 in partnership with Caribbean Export Development Agency (Caribbean Export), Caribbean Association of Investment Promotion Agencies (CAIPA) and the United Nations Industrial Development Organisation (UNIDO)

The purpose of this workshop was to improve the quality of investment project information that is presented to potential investors by the Investment Promotion Agencies (IPAs) of the Caribbean.

The IPAs received training in the identification of investment opportunities, as well as the formulation and appraisal of investment projects.

During opening remarks, Junior Minister for Trade and Economic Development Honourable Sharie de Castro deemed the training a very important one that will benefit Governments across the region.  She also pointed out the benefits of such programmes and partnerships for the people of the Virgin Islands.

She said, “Government of the Virgin Islands is steadily working towards strong and sustainable economic development and growth to create jobs, attract investments, and improve the overall living standards of the people of this Territory.”

She further stated that the time has come to invest significantly in the development of the Territory’s human resources as it is the vision of the Government to achieve sustainable economic growth and prosperity for all with new and deepened skills.

“The Government of the Virgin Islands through the Premier's Office is pleased to host, in partnership with the Caribbean Association of Investment Promotion Agencies (CAIPA) and United Nations Industrial Development Organisation (UNIDO) this five-day training course for the Investment Promotion Agencies (IPA) from 4th to 8th November,” said Honourable Sharie de Castro.

The workshop was delivered by Professor Umesh Menon, UNIDO expert and facilitated 22 Caribbean participants from 16 Caribbean territories who were trained in the use of the flagship software of UNIDO entitled Computer Model for Feasibility Analysis and Reporting (COMFAR III Expert - Basic Version).

COMFAR facilitates the fast computation of financial statements needed for financial and economic appraisal of investment projects. The software can be used for small- to large-scale projects, expansion, rehabilitation and modernisation of existing enterprises and joint ventures

Participating countries included: Anguilla, Antigua and Barbuda, Barbados, Belize, the British Virgin Islands, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Trinidad and Tobago and the Turks and Caicos Islands.


Berta McKelly Adams

Assistant Information Officer
Department of Information & Public Relations 
Telephone: 468-2740