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First bilateral investment for the economic development of the border

Haiti investment potential

With an objective to create over 100,000 direct jobs in the textile sector by 2030 in the border between Haiti and the Dominican Republic, Quisqueya Binational Economic Council (CEBQ) just began its first pilot Plan there with an initial investment of $ 31 million. Initially, about 4,000 industrial jobs are expected to be created along the border. Quisqueya Binational Economic Council is a binational cooperative organization formed by Haitian and Dominican representatives with the objective to sustain development on the border.

What do you think?

Haitian Kreyol:

Premye envestisman bilateral pou devlopman ekonomik nan fwontyè a.

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Lavi che, ou bezwen 57 a 60 goud ayisyen pou yon dola US

Haitian Currency With Toussaint L'Ouverture

Woy! Lavi vini pi chè. Malgre anons yo miltip nan men otorite ayisyen an ki ape fè fas ak pwoblèm goud ayisyen an ki pa sispann diminye nan valè nan relasyon ak dola Ameriken an, emoraji nan goud ayisyen an ap kontinye. Koulye a, ou bezwen ant 57 ak 60 goud ayisyen pou yon dola Ameriken nan mache echanj. Dapre kèk ekspè nan sektè finansye a, gen plizyè rezon pou bès nan la kounye a ki gen ladan politik, nan fen jou ferye ane yo, majorite nan popilasyon an pap travay ak lòt bagay. Entre-temps, Ayiti Central Bank gen entansyon pou mete 50 milyon dola nan ekonomi an nan yon tantativ pou soulaje sitiyasyon an.

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Best is yet to come in doing Business with Haiti

Haitian Economy Primed for Business Investments. During a seminar themed "Doing Business with Haiti", American Chamber of Commerce of Trinidad and Tobago (AMCHAM) CEO, Nirad Tewarie, spoke about the opportunity TT has to pour money into an increasingly diversified Haitian economy. Haiti's developing economy has blossomed under Martelly's government because of the strengthening of its infrastructure, more productivity, and a growth in resources for producing goods and services.

Tewarie urged AMCHAM to jump into the Haitian market ". . . while it is still early to . . . take advantage of . . . potentially exponential growth in the years ahead" Already Korean and American companies are exploiting the burgeoning Haitian economy he added.

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Haiti Not Doing Well In the 2015 Prosperity Index

As per Legatum Prosperity Index, 2015 published on November 2, 2015, Haiti ranks 140th out of 142 countries in the world. The index is an annual ranking of 142 countries which includes both objective and subjective data, based on eight distinct categories: Economy; Entrepreneurship & Opportunity; Education; Governance; Personal Freedom; Health; Safety & Security; and Social Capital.

The index is important because it is the only global index that measures national prosperity based on both wealth and wellbeing representing more than 96% of the world's population and 99% of the world's GDP. Two countries trailing Haiti are Afghanistan and Central African Republic. Last year, Haiti ranked 135th in the index. Haiti's recent sub-index performance rankings are as follows: education (115th), safety & security (123rd), social capital (125th), economy (136th), personal freedom (138th), governance (139th), entrepreneurship and opportunity (139th) and health (140th). The Dominican Republic ranks 76th in the current index, 4 places down compared to the previous year with best and worst rankings in the 'social capital (57th)' and 'security level (92nd)'.

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Haitian Ban on Dominican Products to Drive up Prices

Recently, on Tuesday, September 21, Alberto Navarro, the head of the EU delegation in the Dominican Republic, has warned that the Haitian import ban on some essential Dominican goods, likes of wheat, corn, bread, etc. would make them dearer by about 40% and the most disadvantages in Haiti will have no option but to pay that high price to buy them.

The ban, a consequence to the mass deportation of Haitians by the Dominican authority, would be effective from October 1. The Haitian government has imposed an import restriction on 23 items crossing the land border, but they can enter by boat or plane on payment of taxes to the capital of Port-au-Prince or at the northern coastal town of Cap Haitien. Last year Haiti has imported around $500 million worth of food items from the Dominican Republic and the figure is 6% of total Dominican export.

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Engineer to Start Self-Sustaining Book Publisher in Haiti

Ron Moore (72), a traveling engineer and a resident of Forest Lake, Indianapolis, following his graduation from Purdue University started his international travel career in the Dominican Republic. After working there with Peace Corp for three years, he went to Bolivia on a USAID program for two years. The next twenty years he had worked with Johnson Filtration Systems as the Director of Latin American operations, but worked worldwide with designing and installing sanitary systems for his company and had met the natives of some 60 countries. In 1995, he started his own White Bear Lake-based sewer and water business 'Hidrocare Inc.' Since 2008, he has made over 15 trips to Haiti and started learning Creole.

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Chinese entrepreneurs see great opportunities in Haiti

Chinese entrepreneurs and the opportunities offered by Haiti

The 9th summit China-Latin America and Caribbean (LAC CHINA) that was held recently at the Palace of Communication and Culture of Guadalajara in Mexico from October 13-15 2015 was quite an eye opening event for several Chinese companies. Out of 1,500 Chines investors present, many were interested in the textile revolution that seems to be taking place in Haiti. At least 10 potential Chinese entrepreneurs are interested in visiting Haiti's National Society of Industrial Parks (SONAPI).

These companies are focusing in textile and footwear as key sectors for investment. They are also interested in building infrastructure and bio-agriculture as well in Haiti.

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Call for Social Contract in Haiti to Promote Opportunities for All

World Bank Group Emphasizes More Social Inclusion of Poor Haitians

The World Bank Group (WBG) has made available to the public a report, "Haiti: Towards a New Narrative", in which they analyze the strengths and weaknesses of Haiti five years after the earthquake. Although the island has experienced a significant growth rate of about 3.3% in the period 2011-2014, it is losing momentum. The report states, ". . . economic growth has been too slow and not favored the poorest."

Donor funding is on the wane and trading services for land and property grants has also dropped off. The report urges organizing more resources to raise revenues; employing best practices for better administration of public monies; and prioritizing expenditures. The positives in the report include reduction of dire poverty and sustainment of the macroeconomic balance.

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Do we Haitians have what it takes to be Entrepreneurs?

Understand the concept of charm in Haitian Business

From just an observation, I see Haiti as a country with a lot of needs and also lot of opportunities. Often people will tell me that Haiti is "Vierge" or it is a virgin, not yet exploited, with unlimited opportunities. I think being a country with lots of opportunities is a good thing. People with great entrepreneurial mind will take the advantage that the country offers within seconds.

So my obvious question is: If Haiti has such great opportunities why is it that capable Haitians do not take advantage of it?

Should we say there is a lack of entrepreneur minds capable of exploiting all the resources available such as manpower, absence of competition, a consuming population. Let me remove from the equation the first likely defense from those who think they are entrepreneurs and want to justify their inaction. Government doesn't run a country, interest groups do. Most people who come to power often have a long long tell of campaign contribution, groups with specific powers that actually dictate what can be or can't be done. Haiti is not different, we do have these established power; however their focus is on destruction and not construction. A clear example would be collective forces to finance coup d'Etat in Haiti.

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Project of Housing Loan for Civil servants in Haiti.

Economy And Finance, Money And Currency

There is a new project to help all public servants in Haiti to obtain their own home. With this plan, anyone working for the government either as Civil servant or Agents of Public Service will be able to borrow money from the bank guaranteed by the government. The loan will be for up to 15 years at an annual rate of 6 percent.

This project is a proposition by the Ministry of Finance. The loans can only be used for home construction or home renovation. To make repayment easy, it will be taking directly from the employee's salary.

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