Cayman Islands IT Infrastructure Viewed As Region’s Best By Investors

by Amanda Banks, Tax-News.com, London

31 August 2005

The London-based Foreign Direct Investment (fDi) magazine, a Financial Times publication, has recognized the Cayman Islands as the Caribbean state with the best IT and Telecommunications infrastructure, in a recent regional competition.

For the 2005/06 Caribbean States of the Future awards, the Cayman Islands was also the runner-up in the following categories: Best Human Resources, Best FDI Promotion Strategy, and Best Transport System.

Among this year’s competitors were Montserrat, Jamaica, Bermuda and Trinidad & Tobago, as well as others from Central America.

“Recognition in these categories demonstrates a strong commitment to maintaining a successful economy in today’s competitive market,” commented Charles Clifford, Minister for Investment and Commerce.

“All persons in Cayman should feel proud that we are considered the best in these areas amongst our regional colleagues. Earning these awards makes us even more marketable to foreign investors and should encourage us to push the envelope further than ever," he added.

In June 2005, fDi invited Caribbean and Central American investment promotion agencies to nominate their countries for recognition as an attractive locale for foreign direct investment (FDI). The Cayman Islands Investment Bureau submitted the Cayman Islands nomination.

Results will be published in the August/September issue of fDi.

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