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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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6th Edition of Business Investment Conference

The 6th Business Investment Expo & Conference 2015 is held to encourage competition among nations in the Caribbean.

This year Haiti Renewal Alliance (HRA) collaborated with World Bank Group to present forums on energy, information, and technology. Other primary partners include U.S. Chamber of Commerce and USAID.

HRA Expo was established in 2010. Since then 3,000 business, investor, and government groups have exchanged ideas and best practices for sustainable growth in the Caribbean.

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Dominicans want to talk as product ban could cost them 500 millions a year

DRJose del Castillo wants dialogue with Haiti

It is clear that the Dominican authorities did not take the recent decision of the Haitian authorities to ban 23 Dominican products from from the road, with grace and resignation. Having an understanding of what the decision will likely do their economy, Industry and Commerce minister of the Dominican Republic, Jose del Castillo, already sees room for talk with the Haitian government in order to come to an understanding regarding the ban.

Jose del Castillo said the Haitian government needs to analyze the possibility of withdrawing the measure which will affect not only Dominican industry, but also Haitian merchants and transporters. He estimated that having the products transported by sea or air as suggested by the Haitian authorities suggested would raise costs.

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Haiti Politics Obstacle to Tourism Sector Investment

Political instability in Haiti and its effect on tourism sector. The Hotel de Plaza was the site of a conference on the tourism industry in Haiti. The topic concerned incentivizing investment under the Investment Code. The support and advice of the Tourism Association of Haiti (ATH); the Interministerial Investment Commission (CII); and Investment Facilitation Center (CFI) would be provided.

Stephanie Balmir Villedrouin, Haiti's Minister of Tourism and Creative Industry, gave a presentation that reviewed the progress of the tourism industry from 2011-2015. The government, she said, funded a series of investment projects along with international partners that amounted to 345 million-plus USD. Among them were:

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Garius Lonick Contender for Young Haitian International Award

Haitian entrepreneur, Garius Lonick, semi-finalists from 17 countries.

Haitian businessman, Garius Lonick, took top honors in the Ten Outstanding Young Haitians of 2014 competition. He is now in the running, along with thousands of other candidates around the globe, for Ten Outstanding Youth Globally 2015. He has reached the semi-finalist stage, among 19 other semi-finalists vying for the top ten. The Junior Chamber International Haiti (JCI Haiti) sponsors the competition.

Lonick began his business career at the age of 12 when his parents could no longer afford his school tuition. Lonick took matters into his own hands, starting a business making artisan crafts for consumers. He put himself through school with his earnings, obtaining a BA in medical technology. He then started Bioced, a healthcare service, covering lab testing, internal medicine, psychiatry, gynecology, and dental care, all offered at affordable rates. The endeavor progressed to providing medical students internships.

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Haiti at the Entrepreneur's Fair of Cuba

Recently, Mr. Ghisler Dugas, the Director General of Haitian Ministry of Trade and Industry (MCI) accompanying a delegation of Haitian entrepreneurs, visited the "Entrepreneurs' Fair" held between July 15 and 17, 2015, in Santiago, Cuba. About nine industrial entrepreneurs from Haiti visited the fair to represent their products like bouillon cube, pasta, beer, rum, milk, liquor cereals, Smartphone, etc. The government is hopeful of this initiative on many counts. It has the possibilities of drawing the interest of the Cuban importers, promote investment and explore new markets. Jude Hervey Day, the Haitian Minister of Trade and Industry has expressed his belief that the Haitian products have the potentiality to satisfy the needs of the Cuban people.

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The 6th annual Business Investment Expo in Haiti

The 6th Business Investment Expo & Conference 2015 is held to encourage competition among nations in the Caribbean.

This year Haiti Renewal Alliance (HRA) collaborated with World Bank Group to present forums on energy, information, and technology. Other primary partners include U.S. Chamber of Commerce and USAID.

HRA Expo was established in 2010. Since then 3,000 business, investor, and government groups have exchanged ideas and best practices for sustainable growth in the Caribbean.

Read more →  


 

Garment Accounts For 90 Percent of Haiti's Export

The Haitian clothing industry plays an important role in the country's economy. According to the Inter-American Development Bank (IDB), the industry makes up 80-90% of the country's exports to the United States with supports of trade free deals through the Haitian Hemispheric Opportunity through Partnership Encouragement Act, commonly known as HOPE. The garment industry in Haiti mainly focuses on low-end apparel clothing and cranking out plain T-shirts for the U.S companies such as Walmart, Gildan and Hanes. As of 2012, this sector employed more than 30,000 workers and accounted for about 10% of the country's GDP. In the last week of May, Haiti's Center for the Facilitation of Investments (CFI) and Association of Industries of Haiti have signed a Memorandum of Understanding with the Inter-American Development Bank for continuing their financial support for the existing duty-free trade agreement with the United States. During the last calendar year (2014), $854.3 million worth of textiles and apparel were shipped to the U.S.

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Development Boom Predicted Along Haiti-Dominican Border

On Monday, April 13, 2015, Juan B. Vicini, the executive of the Vicini Group has said that his group has identified some potential areas for investment valuing around $ 3.00 billion on projects based in several strategic locations along the Haitian and Dominican border areas. He has said that Vicini Group may invest in renewable energy and agro based business projects in the border area, including the Manzanillo port in Montecristi province, Lake Azuey and the Artibonite river basin.

The port is an excellent place for investment because it is the closest point to the US Eastern Seaboard that requires nominal investment to develop but has a great probability of yielding high returns. Vicini Group is trying to create an opulence in the area with investment so that it becomes an attractive spot for everyone to live and invest.

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Ministry of Trade and Industry promoting Consumer Protection Rights

Minister of Trade and Industry (MCI), Herve Day, of the Department of Quality Control and Consumer Protection (DCQPC) spoke at a conference on World Consumer Rights Day. He talked about the formation of the Law Project on Consumer Protection (LPCP), and the Haitian Bureau of Standards and Metrology (HBSM), both of which need the approval of Parliament to implement them. A vote to establish LPCP and HBSM will strengthen consumer rights.

MCI has been vigorous in regularly auditing the procedures at distribution sites that manufacture and sell food products. Pre-packaged foods are being inspected to insure manufacturers are being compliant with regulatory law. The facilities are also being inspected for adherence to hygiene standards.

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