Following Montserrat’s attendance to the UK-Antigua Trade and Investment Summit earlier this year, with Premier Joseph E. Farrell and GoM’s request for support in this area, the Governor’s Office submitted and successfully secured funding that will facilitate and catalyse UK-Montserrat partnership on trade and private sector development.
The Governor’s Office and the Government of Montserrat will work with Developing Market Associates (DMA) Invest, the leading Agency behind the successful UK-Antigua Trade and Investment Mission earlier this year, and GreenCrowd to identify local barriers to investment, create a more enabling business environment for UK companies in Montserrat, and bring UK businesses and stakeholders together on island to support deal facilitation.
The initiative, funded by the UK Government Green and Inclusive Growth Centre of Expertise, will deliver:
- A sector and gap analysis to identify critical legal and regulatory barriers to investment in Montserrat. Recommendations from the analysis will be used to inform and update GoM’s policies and processes to facilitate UK investments.
- Physical and digital assets for investors, including an Invest in Montserrat website as a one stop shop for interested investors.
- A renewable energy roadmap to derisk private sector investments in this area.
- It will facilitate Montserrat’s attendance to the UK-Caribbean Trade and Investment Forum, providing a platform to connect Montserrat with the wider Caribbean community and UK businesses. A stand-alone impact investment round table for Montserrat will support GoM’s UK investor outreach.
- A dedicated five-day UK-Montserrat Trade and Investment Forum hosted in Montserrat, bringing UK investors to Montserrat to explore and initiate trade and investment opportunities.
Based on previous work conducted by the implementing partners, it is envisaged this project will bring a minimum of two formal investment agreements in Montserrat (within 24 months) and a minimum of two medium to long-term sustainable inward investments established in Montserrat.
This joint initiative will be led in the Governor’s Office by the Head of Programmes in close collaboration with the Ministry of Finance, the Cabinet Secretariat, wider Government of Montserrat and the UK Department for Business and Trade (DBT), FCDO and UK Export Finance (UKEF).
