The Cayman Islands Investment Bureau took part in the Gulf Coast Business Reinvestment Forum held recently in Washington DC.
Sponsored by the United States Chamber of Commerce and the International Economic Development Council, the forum was intended to develop a clear understanding of the scope and impact of two recent major hurricanes – Katrina and Rita – and to develop realistic, cohesive action plans, said a GIS press release.
‘Economic recovery in the wake of a disaster is a challenge that we in Cayman share with the Gulf region and indeed with other countries worldwide,’ said Assistant Director of CIIB Virginia Dixon, who was invited to attend the proceedings by Jeffrey Finkle, president of IEDC.
‘This was an opportunity for the CIIB to be a part of a unique strategy group that will help shape a framework for the economic recovery and revitalization of the Gulf states. The lessons learned will prove invaluable to the execution of the CIIB mandate to strengthen business development in the Cayman Islands.
‘Further, the insights gained at these meetings will enable the CIIB to develop appropriate strategies for the mitigation of risks associated with the potential impact of future natural disasters,’ Ms Dixon said.
The forum was attended by approximately 100 invited economic developers and legislators from the US and covered topics that focused on lessons learned and best practices in response and recovery from an economic development perspective.
It concluded with working groups which discussed creating an infrastructure to promote economic development, financial tools for small and large businesses, and legislative agenda, the release said.