September 26, 2020

Cayman Islands: DCI encourages investors to compete for ‘Green Economy’ Awards

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caribbean_3079389bThe Department of Commerce and Investment (DCI) invites local and foreign persons who have invested in the Cayman Islands to compete in the Regional Investor of the Year Awards ().

The entry deadline is 11pm Friday, 31 October.

RIYA is an initiative of the Association of Investment Promotion Agencies (CAIPA), and its secretariat, the Export Development Agency ( Export). Its intention is to recognise and promote the contribution of foreign and local investors to the economy, DCI Director Ryan Rajkumarsingh said.

This year, RIYA is focusing on the green economy, and efforts to protect the region’s environment. According to its release, ‘RIYA 2014 will seek to promote investments in initiatives that employ environmentally friendly and sustainable business practices – initiatives that protect the region’s delicate ecosystem – its flora, fauna and human life.

‘Foreign and local investor applicants must demonstrate that they have made significant contributions through changes in processes, practices, and structures to moderate potential damages to our ecosystem, or to benefit from opportunities associated with the green economy’.

RIYA will present four awards. The Local Investor of the Year Award will be given to an investor of Caribbean birth; and the Foreign Investor of the Year Award, to a non-Caribbean national. Awardees in these two categories will have invested in operations in the region that have generated a significant impact on the green economy.

Women investors are invited to enter the category. Applicants in this category do not have to be investors in a green initiative, but they must demonstrate the significant effect their investment has had on the region’s socioeconomic development.

The fourth award, for Regional Investor of the Year, will be selected from one of the three category winners.

In addition to the 11pm deadline on 31 October, other important dates are 7 November, when category runners-up will be announced; and 18 November, when the winners will be announced during CAIPA’s Annual General Assembly.

This is the second year that the awards have been held, said. He noted that Cayman Enterprise City received the Special Award for 2013, and that videos of CEC and other regional success stories can be found on YouTube, on The Caribbean Export page.

Application forms and additional information on RIYA 2014 can be found at www.caipainvest.org and www.carib-export.com. In Cayman, persons or firms are to submit their applications to DCI, at [email protected], for pre-selection.

DCI will submit at least two applicants per category to the RIYA Evaluation Committee for the selection of overall winners, Mr Rajkumarsingh said.

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