Private Sector Development in Haiti: Opportunities for Investment

Private sector involvement has been advocated in areas like agriculture, infrastructure development and construction, energy, tourism and finance. This is where the government priorities can be clearly defined as:

• Involving Private Sector in Plan for Reconstruction and Economic Recovery.
• Establishing Free Enterprise Zones.
• Attracting FDI and creating more jobs.
• Developing the tourism industry that holds a huge potential of aiding economic growth.
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As said earlier, Haiti has the potential of sustained growth but needs help and this is where priorities for international communities are defined as:

• Investing in free enterprise zones.
• Establishing a regulatory framework of coherent business.
• Partnership promotion between national and international investors.
• Improving the climate for business so that more investment flows in.
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What are the challenges to be faced? There are many but the most important ones are:

• Weak regulatory framework and limited enforcement capacity.
• Absence of tourist zones that are officially designated and little security for property rights.
• No taxes paid by informal private sector and collecting tax is a major challenge from the formal sector.
• Infrastructure like electricity, roads etc. are not adequate and hence, the cost of running a business is high.
• Bank loans barely accessible to SMEs.
• Haiti's image as a corrupt and insecure country repels investment.

The basic challenges are to be taken out one by one before private sector in Haiti grows and aids economic growth.

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