Port Au Prince, Haiti, September 21, 2010—
IFC, a member of the World Bank Group, is working with the government of Haiti to foster a national initiative to promote the implementation of special economic zones in the country.
Representatives from IFC have presented preliminary findings on the development of special economic zones in the country as a possible catalyst for reconstruction, economic growth and job generation in the short term. Specifically, IFC shared its estimation of market demand for special economic zones, evaluation of 20 sites from a long list of about 75 proposed by the public and private sectors, and legal, regulatory, or institutional reforms that would promote investment and job creation.
Madame Josseline C. Fethiere, Haiti’s, Minister of Commerce and Industry, said: “Sustainable job creation is a key priority for the Government of Haiti. We are committed to joining efforts with the private sector and the international community to develop serviced land that can attract private capital.”
IFC representatives presented their findings at a meeting attended by high-level representatives from the Presidency, Prime Minister, and the Ministries of Finance, Interior, Labor, Tourism, Agriculture, and Public Works. Representatives from the private sector, civil society and the international community, including the Korean Ambassador; joined the meeting to discuss one of the main constraints to new investments and jobs in Haiti—the lack of serviced industrial land.
“This meeting is an important milestone to help the Government of Haiti strategically address the local economy’s need for serviced industrial land,” said Ary Naim, IFC Country Head for Haiti and the Dominican Republic. “Successful implementation will be directly measured in terms of investments attracted and jobs created”.
In October, the Government of Haiti and IFC will hold broader consultations that will focus on the necessary reforms to foster the establishment of special economic zones in Haiti.
IFC responded swiftly in the aftermath of the earthquake that struck Haiti last January. Since then, IFC has made available $49.6 million for nine projects. IFC is focused on helping rebuild Haiti and reactivate growth through investment and advisory services, in priority sectors such as garments, infrastructure, telecommunications, tourism, and finance.
IFC’s Haiti Investment Generation Strategy seeks to generate new employment in the country by attracting investment and the implementing special economic zones to accommodate a pipeline of investments amounting to $51 million. The strategy has three pillars: investment promotion, special economic zones, and public-private dialogue.
About IFC
IFC, a member of the World Bank Group, is the largest development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives—by providing financing to help businesses employ more people and provide essential services, mobilizing capital from others, and delivering advisory and risk-management services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org/lac
.
