Caribbean countries get high ranking in new FDI report

ST. JOHN’S, Antigua, Wednesday August 31, 2011 – The Financial Times has ranked five Caribbean countries among the top ten Caribbean and Central American Countries of the Future.

Trinidad and Tobago was placed third, followed by Barbados in fourth place. Jamaica was ranked 10th position. Antigua and Barbuda and the British Virgin Islands were the only Organisation of Eastern Caribbean States (OECS) member countries on the list, coming in sixth and seventh respectively.

Costa Rica was ranked number one in the Caribbean and Central America.

The rankings are created by the British media group’s Foreign Direct Investment (FDI) Intelligence Division as a benchmark of the investment attractiveness of countries and cities in more than 55 sectors for 350 locations around the world.

Officials in Antigua and Barbuda have already reacted to the findings.

In the individual rankings, the twin-island placed second in best infrastructure, fifth in best quality of life, sixth in best FDI strategy and eighth in best human resources.

Investment Promotions Director at the Antigua and Barbuda Investment Authority, Fitzmaurice Christian, said the high ranking in infrastructure underscores the country’s attractiveness in business process outsourcing, which relies on a reliable telecoms infrastructure and a well trained work force.

He said the ABIA would concentrate on improving these rankings and on making the top ten in the other three assessed areas – economic potential, business friendliness and cost effectiveness. Click here to receive free news bulletins via email from Caribbean360. (View sample)