Investment - Haiti Observer Blog

Haiti's Renewal Alliance (HRA) is going to organize its 5th Annual Haiti Business, Investment Expo & Conference in Washington, DC on June 6 and 7, 2014 at Walter E. Washington Convention Center, USA. Before this annual meet, the HRA has arranged an opening meet at Karibe Convention Center, Port au Prince on January 17 & 18, 2014 with an object to connect potential investors with Haitian entrepreneurs and government leaders so that they may have a positive impact on Haiti. This is a timely approach by HRA to include interested business people and investors from other Caribbean countries.

It is expected that if this effort can successfully promote and sustain development as anticipated, it will boost healthy competitiveness in the entire Caribbean region. The upcoming expo at Washington, DC on June 6 and 7, 2014 will focus mainly on finding ways to connect Caribbean region with global development and solving complex issues concerning investment growth, tourism, infrastructure, energy, technology and agriculture. The event will facilitate unique access, foster collaboration and partnerships, brokering deals, broaden the reach and encourage diaspora engagement through best practices.

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Food aid has been delivered to Haiti for the past 60 years, in two decades 1.5 million tons. Seven million people out of a population of 10 million suffer from hunger, and 1.5 million suffer acute chronic malnutrition. Infrastructure weaknesses, waste, and "the perverse effects" concerning food aid drive the crisis.

The government of Haiti (GOH) and outside donors pay no attention to the agricultural sector, pertaining to its growth and sustainability. The industry accounts for one-quarter of gross domestic product (GDP), but that figure has dropped. For many decades, scant investment from GOH and outside donors has occurred. Conversely, food-aid funding outpaces agricultural funding by more than 50%.

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Haiti's continued recognition of The Republic of China as a body which governs itself was met by the Asian country's readiness to offer almost $16 million to the recovery of the Caribbean nation after the crippling earthquake experienced in 2010. As such, a visit from Taiwan's President, Ma Ying-jeou during his tour of those countries in the Caribbean and South America, of the 23 worldwide which support Taiwan's sovereignty, is a welcome one.

Met at the airport by President Michel Martelly and Prime Minister Laurent Lamothe, Ma took stock of what he could of the country during his one day visit and held talks with the Haitian President at the presidential office concerning the reconstruction of the Port-au-Prince Supreme Court building, the project to which the donation had been appropriated. The two laid the ceremonial first stone of the building being built by OECC, a Taiwanese company based in the capital, Taipei. The new courthouse will be in the style of the neo-colonial and will be situated near the National Palace, also destroyed by the earthquake.

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President Martelly met with 54 business associations to seek solutions to informal sector challenges. The central need for small and mid-size enterprises (SMEs) is for credit at favorable interest rates.
Also present were ministers of Women's Affairs, Economy and Finance, and Crop Production, along with custom officials and Central Bank's CEO.

The Haiti informal sector is a non-aggregated group, and they account for 80% of the workforce. Underdeveloped SMEs have been ignored until the 2010 earthquake forced the issue of growing the economy.

The government of Haiti (GOH) has developed an agenda for SMEs, some of which includes:

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Clinton Bush Haiti Donation Fund invested in five star hotel

On one hand when over 500,000 Haitians are living in IDP camps in the capital city of the nation and its surroundings, 5 Star hotels are popping up and the latest being the Royal Oasis Hotel in the metropolitan area that is plagued by poverty. $2 million from Clinton Bush Haiti Donation Fund has been invested in erecting the luxury hotel, which was actually

This investment in building a luxury hotel comes with a hope that it will attract foreign investors who will invest in new factories in Haiti, paving the path for new jobs. The hotel is also built to attract humanitarian workers and wealthy tourists who have help the nation to revive from the ruins of the 2010 earthquake. There is however, a dilemma about this overall concept as experts refer to the Hotel Boom of Haiti as deep skepticism and cautious optimism.

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In late December 2010, the Jamaica Broilers unveiled plans to open an operation in Haiti for the production of chicken and chicken by-products to meet the growing need, made more dominant by the earthquake earlier that year, in the Haitian market for protein. Haitian Broilers was born shortly after, a US$2-$3 million dollar project.

In its initial stages, the venture was a partnership with a Haitian entity which saw the country receive feed from Jamaica and chicks from the United States. Described as a mission for gathering information, the company's vice-president, Donald Patterson, has recently said that the now, positively successful venture has surpassed the beginning stages of JA broilers at a corresponding time in its infancy.

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There have been many barriers to the government's effort to promote business and investment in Haiti. This new report is the most recent punch in the face of this effort.

Ayiti, Venezyela, Ondiras, kote ki pi danjere pou ekzekitif etranje

Nouvo rapò sa a se yon kout pyen nan efò gouvenman Ayisyen puo Promote Bizsis.

According to Latinbusinesschronicle.com, Haiti found itself with Venezuela, and Honduras as the three most dangerous places in Latin America and the Caribbean for foreign multinational executives for the second consecutive year.

Dapre Latinbusinesschronicle.com, Ayiti ak Venezyela, ak Ondiras, se twa kote nan Amerik Latin ak Karayib ki ranje pi danjere pou ekzekitif etranje pou dezyèm ane.

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The Haitian HOPE (Hemispheric Opportunity through Partnership Encouragement) Act of 2006 (also known as HOPE I) was enforced on 6th Dec 2006. As a part of this Act, exports of certain Haiti-made apparels to U.S. were made tariff-free. The intention was to attract investment in apparel industry with the underlying plan being development and economic growth. The condition was that only those apparels will be made duty free whose raw materials were imported by Haiti from any country provided, a part of the sourced material must come from a country that is a part of U.S. Unilateral Preferential Trade Arrangement. Apart from this, Haiti was also required to establish:

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Former US President Bill Clinton acts as the United Nation's special envoy to Haiti. His duties have taken him on two trips to the country so far this year. First, in January, he came for the 3-year anniversary of the devastating 2013 earthquake, which took place shortly after his tenure started. His latest visit, a two-day event that consisted of site visits and a donation announcement, on March 10 & 11 saw him accompanied by a nearly two-dozen strong delegation of potential investors from the restaurant, perfume and lingerie industries.

During his visit, he spoke about the controversies and misfortune faced by the country, but stressed that Haiti is still replete with 'staggering potential.' It's a sentiment also expressed by Haitian President Michel Martelly who's 'Haiti is open for business' slogan was designed with luring potential investors from around the world in mind. While they are optimistic about foreign investments being the key to rebuilding Haiti, analysts at home and abroad warn that the country's flawed justice system and its archaic banking practices don't instill confidence in investors. Further concerns are the advisories by the U.S. government that warn potential visitors about concerns of health, security and a lack of proper infrastructure.

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Pan American Development Foundation (PADF) and Haitian Hometown Association Resource Group (HHTARG) are presenting a forum, "Investing in Haitian Progress", at a total of nine cities in America, Canada, the Dominican Republic, and New York City, its first stop. The United States Agency for International Development (USAID) is funding the project, offering small and medium enterprise (SME) businesses matching grants from $50,000 to $200,000 for innovative business plans. The goal is to support development of SMEs to increase employment in Haiti.

Speakers at the forum will talk about private investment in Haiti, potential stakeholders, finance, program administrators, and investment bodies like Inter-American Bank that partner with the government of Haiti to support SMEs.

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