Business sectors join forces

| 18/05/2009

(CNS): A number of local businesses and associations have joined together to form another organisation to promote the Cayman Islands. The primary purpose of the self-funded Cayman Islands Investment Council is, organisers say, to market and promote Cayman in what they describe as difficult economic times. CIIC includes representation from most of Cayman’s commercial sectors, and according to Tony Catalanotto of the CI Real Estate Brokers Association (CIREBA), one of the primary goals is to attract new business to the islands.

“What makes the newly formed Cayman Islands Investment Council (CIIC) unique among the various Cayman associations is that it includes representation from virtually every industry in the Cayman Islands and its goals transcend individual industry goals,” said Catalanotto. “The tiered membership structure encourages participation from all businesses and sectors. Some of our objectives include encouraging inward investment to the Cayman Islands, the development of local business, increased investment across all industries and increased tourist arrivals.”

The CIIC has been in the planning stages for many months, he said, and includes the Cayman Islands Tourism Association (CITA), the Financial Services Association (CIFSA), the Chamber of Commerce (CoC), CIREBA and private organisations such as the Dart group of companies.

The Investment Council will act as a national marketing agency, organisers said, that promotes the country, manages its reputation and conveys a message to the world that the Cayman Islands is an attractive jurisdiction for business investment. To that end the CIIC will be taking substantive action over the coming months to support the creation and implementation of a strategic marketing and public relations campaign.

“By increasing investment in the Cayman Islands, the Investment Council seeks to drive growth for local businesses,” said Eduardo D’ Angelo P. Silva of CIFSA. The CIIC said in a release that it is committed to working alongside other organisations and committees, both in the private and public sectors, to achieve their goals and avoid any duplication of efforts.

Steve Broadbent, President of CITA said, “The Cayman Islands Tourism Association supports inward investment to the Cayman Islands, providing that such initiatives promote sustainable development and in a manner consistent with the needs of the Tourism Industry and Values of our Association and Members.

While Mark VanDevelde, CEO of Dart Enterprises said Dart was honoured to be invited to join prominent industry leaders in the new venture. “This type of private sector collaboration is essential, both in the short term and as a sustained effort over the long term, to demonstrate our continued confidence in our Caymanian economy” he added.

Organisations or businesses that wish to receive further information on the Investment Council or enquire about membership should contact Tony Catalanotto at 926-7368 or by email at

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