Business & Finance
This is related to the business and financial issues related to Haiti and the Haitan community. We discuss issues such as job opportunities, how to create a business in Haiti, how to finance a project, and more.
European Investment Bank (EIB) To Finance Projects in Haiti
On Monday, May 24, 2017, Pim van Ballekom, the Vice-President of the European Investment Bank (EIB) along with a team of delegation, visited the EIB-funded hospital in Tabarre during a tour aiming the exploration of project opportunities in Haiti. After the 2010 earthquake, EIB provided a grant of €600,000 (HTG 45 million) to build this modular trauma surgery hospital run by Médecins Sans Frontières in Tabarre. The staff of EIB also donated €51,357 for this hospital. In Haiti, EIB has granted a total of €16 million (HTG 1.2 billion) support to SME projects (small and medium-sized enterprises).
On his first visit to the country, Vice President Pim van Ballekom and his team discussed funding opportunities with the Haitian authorities, including Haiti President Jovenel Moïse, Central Bank Governor Jean Baden Dubois, and ministers of the government with the objective of granting loans for future projects.
SONAPI is the acronym for eSociété Nationale des Parcs Industrielsf (National Society of Industrial Parks), a semi-governmental agency that supports the largest number of jobs in the manufacturing sector in Haiti. Caracol Industrial Park (PIC) and Metropolitan Industrial Park are the properties of SONAPI which is an industrial and commercial autonomous body under public law responsible to implement, promote, organize and manage Industrial Parks in the Republic of Haiti. SONAPI was once a pride project of Haiti, opened in September 2012, with the objective of maintaining a constant initiative to boost the employment conditions in Haiti and create 60,000 jobs by 2016. However, since December 2013, news of wage differences started to come out, the brutal exploitation of workers in SONAPI have always remained in the news.
On May 11, 2017: Haitian Workers Shut Down Industrial park SONAPI in Haiti, demanding higher wages. What did they want exactly? One, Their demanded a minimum wage adjustment from 350 Gourdes ($5.50 US) to 800 Gourdes ($12.60) per day. In addition, they want meals, transportation, housing subsidies. They also want that production quotas do not increase with the increased minimum wage.
Recent report would suggested that SONAPI as well as Caracol Industrial Parks have been doing very well. As per "Lenouvelliste'", production at Caracol Industrial Park increased by 154% for the third quarter (July-September 2014).
The real rate of unemployment in Haiti is around three quarters of the population despite the government record shows it at 40%.
There are many good news for the Haitian sorghum producers. Two companies, the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) and Papyrus, a project management firm with experience in agribusiness have come forward to their assistance. MIF has recently approved $2.4 million grant to help the small-scale sorghum farmers under a 4-year project named "Smallholder Alliance for Sorghum in Haiti (SMASH)" which would be implemented under supervision of 'Papyrus'. The objective of the project is to enhance the skills for about the 18,000 sorghum farmers in five Haitian departments (North and North East, West, South, Artibonite, and Plateau Central) and support their marketability. SMASH also addresses issues like poor soil quality and efficient harvest yields.
The Decree to increase the minimum wage finally issued by President Jocelerme Privert. Effective May 1, 2016, An employee who works an eight-hour working day for the highest sector will receive a minimum salary of 375 gourdes ($6.05). Previously, it was 240 gourdes ($3.87). The salaries for workers in different sectors such as the industrial, private and service sectors will receive varying increases.
This Decreed was issued following pressure from various workers demanding an increase in the minimum wage to deal with high inflation. Few weeks ago, hundreds of protesters marched through the streets of Port-au-Prince, demanding an increase of 500 gourdes in the minimum wage. In addition, an ongoing strike by various State hospitals has left the population without any access to health care.
In an effort to calm the recent street protests about the minimum salary, the government of Jocelerme Privert has announced that a new Decree will be issued today (May 19, 2016). o increase the minimum salary of the employees in Haiti. As a result, the Supreme Council of Salaries has reacted favorably to the announcement. On his part, Prime minister Enex Jean-Charles continues to invite all sectors of the population to work together, stating that only peace and political stability can help the country to find the path of economic development.
What do you think?
Here is a name that most Haitians need to get familiar with, the Bi-national Economic Council Quisqueya or (CEBQ). Last Friday (April 15, 2016) CEBQ unveiled its development project for the Haitian-Dominican border at the International Finance Corporation (IFC) and it is very promising. it is one of the largest global development institution which will be devoted exclusively to the private sector.
The border development project expects to take advantage of the Hope-Help legislation and expects to create over 200,000 jobs at Haiti-Dominican Border in 10 years.
What do you think?
Jean-Paul Coutard has done it again. Today(3/9/16), Coutard Motors S.A. will envail its second bus made in Haiti. This new bus that is expected to be used for transportaton is more comfortable and strong than the previous one built in 2013. It is also equiped of cameras both inside and outside. The new bus will be able o transport 60 passengers comfortably, an increase of 4 seats.
The young entrepreneur Jean-Paul Coutard is the President and manager of Coutrad Motors
Ayisyen Entreprenor Jean-Paul Coutard bati dezyèm otobis
Senator Jean Baptiste Bien-Aime is crying out for vigilance following some huge financial transactions ordered by government officials who were only supposed to be liquidating current affairs. According to the Senator, he has in his possession several financial transactions made by the Minister of Finance, Wilson Laleau, that raise lots of questions. Here are some of the transactions:
On February 18, ONA Director requested to transfer 500 million of gourdes from BRH to account number: 1021011301898 in Unibank.
Also on February 18, ONA ordered the transfer of One Billion of gourdes from BRH to account number 131669799 belonging to ONA
On Thursday, January 28, 2016, Michel Martelly, the President of the Republic, inaugurated the socio-community infrastructures, a project of Wharf Jérémie, in the commune of Cité Soleil. The President was accompanied by Yves Germain Joseph, the Minister of Planning and External Cooperation, Mr. Jacques Rousseau, the Minister of Public Works, Transport and Communications, and Mr. Wilson Laleau, the Minister of Economy and Finance. During his speech for the occasion, the President said, he believes the new complex of Wharf Jérémie with its modern amenities, would play an important role in the economic and social development of Haiti. It would further offer facilities for a leisure space, trade, place for technical and vocational training and sports practice to the inhabitants of Wharf.
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