Haiti A Growing Market For Business, Chamber President Says:
By Macushla N. Pinder -
Nassau, Bahamas:

For years, Haiti has been dubbed an economic basket case, the poorest country in the Western Hemisphere and a troubled, lawless nation.

But that is apparently not the Haiti Chamber of Commerce executives discovered last week during a trade mission to that island nation.

In fact, the Chamber’s President Dionisio D’Aguilar insisted that Haiti is poised for economic development and a rebirth and that the time is ripe to seize some real opportunities there.

He noted that since the election of President Rene Preval, Haiti’s political climate is settling and the investment climate is much more secure than two years ago

Mr. D’Aguilar added that despite its economic condition and the significant amount of poverty that exists, Haiti is a large and growing market, the largest in the Caribbean by people volume.

"I am sure it has its problems – it has large infrastructural problems. It’s not an easy place to do business right now, but it is an emerging market. That means if you get in now…things are put in place to make it a safer place to do business. They have had a stable government for 16 months, the United Nations is on the ground," he said.

"The whole focus of all the government was ‘Hey, we’re open for business. The whole world is moving forward and we need to get on this bandwagon.’ And it is time for us to take advantage of the opportunities that are out there."

Haiti has a population of an estimated 8.5 million people.

Its main exports include coffee, mangoes and other agricultural products.

"The private sector in Haiti is ready to do business and the government has put its full weight and influence behind ensuring that the incentives are put in place and its officials are motivated to expedite business proposals," the Chamber’s president told members of the press on Monday.

"They have developed a Code of Investments of incentives for investments and have promised a 30-day window between application and response, with all approved proposals receiving national treatment."

According to Mr. D’Aguilar, in Haiti, over $180 million has been allocated for the next five years, funded primarily by donor agencies like the Inter-American Development Bank (IDB) and the World Bank.

This will go toward the building of roads, bridges and other utilities, according to Mr. D’Aguilar.

"Small property and hotel developers will find open arms with Haiti as this type of touristic development is preferred and most suitable for its culture and structure," he said.

"Seafood distributors can seek to expand a growing segment of the fisheries industry where all of its current lobster export now only goes to Canada. Financial service providers should be able to find business opportunity in remittances, insurance and commercial mortgages. The same can be said for telecommunications as the fibre optic line lined to Haiti by BTC last year opens the doors to a myriad of services in which Bahamian providers have the capacity and know-how."

The Chamber of Commerce’s four-day trade mission to Haiti was aimed at dispelling the myth that Haiti is an unsafe place to do business.

The focus was also on exploring avenues for developing trade agreements between Haiti and The Bahamas in agriculture, poultry, telecommunications, construction, souvenir, craft making and other areas of commerce.

Joining Mr. D’Aguilar on that trip were the Chamber’s Executive Director Philip Simon and Bahamas Ambassador to Haiti Dr. Eugene Newry.

"We were there to identify the opportunities. We have identified the people with whom you would contact in the Haitian government," Mr. D’Aguilar said.

"We have met with some of the businessmen down there who are interested in receiving investments – existing operations or to start [their] own operation. Our job is to put you in contact with who you want to speak with. The Chamber is trying to improve business activity between our country and others."

According to Mr. D’Aguilar, The Bahamas is not the only country hoping to invest in Haiti.

Haitian government officials claim that every week another country expresses similar interests.

"Barbados has been there. Trinidad has been there and Jamaica is transferring the success of its cell phone company to Haiti," Mr. D’Aguilar said.

"In addition to this, American Airlines brings four 757s every day filled with people."

In recent times, the Chamber of Commerce has sought to facilitate business relationships between its members and the business community in other countries, including Panama.

1 October 2007