March is ‘Expression of Interest’ In P.R.O.F.I.T Month


March is ‘Expressions of Interest’ in P.R.O.F.I.T. month for Caribbean tourism projects seeking investment partners.  The build up to the PRO€INVEST organised Partnership Meeting for the Caribbean tourism sector in co-operation with the Caribbean Hotel Association (CHA) and CTO is intensifying.During the last eight weeks consultants implementing the programme branded P.R.O.F.I.T. in the Caribbean, have visited 14 participating Caribbean member countries of the African, Caribbean and Pacific (ACP) grouping. Workshops have been conducted in each territory, where the programme has been introduced to a combination of prospective project sponsors, financing institutions, professional organisations, national tourism organisations, investment promotion agencies and chambers of commerce.  Workshop attendees were treated to an in-depth presentation of the P.R.O.F.I.T programme and got the opportunity to familiarise themselves with the application process for submitting projects.

Over 650 attendees participated in question and answer sessions paving the way for the next phase of the programme, which is the submission of Expressions of Interest (EOI) application forms, designed to outline the particulars of the various projects. This phase is expected to be completed during March when the screening and investment promotions process will move into high gear.

In addition to the workshops, the PRO€INVEST consultant team has been busy preparing tourism sector surveys in each of the territories to serve as an important part of the context in which European and other investors were being asked to consider partnering the Caribbean projects submitted.

The Caribbean Hotel Association is planning the schedule for the Partnership Meeting to be held on October 5-8, at the Ritz Carlton in Montego Bay Jamaica, and is of the view that awareness and interest in the programme is growing across the Region. It will be seeking to pique interest within the Caribbean and among North American prospective investors when its annual Caribbean Hotel and Tourism Investment Conference comes off at the same Montego Bay venue from May 10-12, 2004. The PRO€INVEST team will have the opportunity to present elements of the programme and its benefits to the region during the opening session of the conference. Delegates to the conference will have a second chance during a scheduled workshop to gain greater insight into how they can participate.

The common theme emerging from all the workshops attended by representatives of the European Delegations in the Region is that this is an opportunity that cannot be missed. The Caribbean tourism and related sectors were encouraged to act early in submitting their projects for investment and other trade partnerships.

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The EOI process can be conducted by fax, email or on-line at http://www.profitcaribbean.com where EOI forms can be downloaded or filled out on-line.
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