Curaçao has made yet another attempt to attract foreign investors to its shores. The Caribbean island off the coast of Venezuela has this week unveiled an iGuide, an online repository of information on business opportunities as well as investment climate in the country.
There was already ample information available online about the island. Still, the iGuide is more reliable for foreign investors because it is undersigned by the United Nations Conference on Trade and Development (UNCTAD).
The online guide helps investors save time as well as money on their way to gather information from various sources, according to the Caribbean Export, a Barbados-based agency designed to boost the Caribbean export market.
Curaçao is the fourth Caribbean country to launch the iGuide in the past three months. The first countries to do it were St. Lucia, St. Vincent & the Grenadines and Jamaica.
“We look forward to launching the iGuides for Barbados, St. Kitts & Nevis, the Turks and Caicos Islands and Trinidad & Tobago in 2020,” stated Tessa Jacques, President of the Caribbean Association of Investment Promotion Agencies (CAIPA).
The small island is part of the Dutch Kingdom and is located outside the traditional hurricane belt and major seismic zones. The characteristics of its location are one of the most significant advantages for the island to attract foreign investors. Besides that, it also offers numerous incentives to businesses willing to launch operations on its territory, including 0% import duties on devices.
With its unemployment rate rising to a staggering 22%, Curaçao is trying hard to attract investment and create jobs for its young graduates.
Around two years ago, it launched what it calls ‘open arms‘ policy in a bid to bring digital companies onto the island. Oil refining, oil storage, and international financial services have long been extremely relevant for the island’s economy.