Carib Scope

分类： business

  • ECCB Career Opportunity: Facilities Maintenance Technician

    ECCB Career Opportunity: Facilities Maintenance Technician

    The Eastern Caribbean Central Bank (ECCB), the primary monetary authority for the Eastern Caribbean Currency Union (ECCU) with its headquarters in Basseterre, Saint Christopher and Nevis, has announced an open call for qualified applicants from across ECCU member states to fill a vacant position of Facilities Maintenance Technician specializing in Electricals within the organization. The role is housed in the Facilities Maintenance Unit of the bank’s Support Services Management Department (SSMD).

    The selected candidate will be permanently based at the ECCB’s headquarters in St. Kitts, with an initial two-year fixed-term contract. Following the completion of the initial contract term, the appointment may be renewed, or the technician may be transitioned to a permanent role within the bank, contingent on satisfactory work performance.

    To be considered for the position, applicants must meet a set of clear academic and professional requirements. A minimum qualification of a technical certification from an accredited apprenticeship program, a diploma, or an associate degree in Electrical Engineering Technology is required, with a full bachelor’s degree in an engineering discipline listed as a preferred qualification. Candidates must also have 3 to 5 years of hands-on professional experience troubleshooting critical industrial machinery and building infrastructure, with prior experience working in a commercial office setting considered a strong advantage.

    Beyond academic and experience credentials, the ECCB is seeking candidates with a robust skill set aligned to the role’s demands. Required soft and technical skills include advanced engineering and technical troubleshooting abilities, working knowledge of modern energy management protocols and regional building codes, strong written and verbal communication capabilities, advanced analytical and critical thinking skills, a proactive professional attitude and demonstrated strong work ethic, flexible scheduling, excellent time management and proven multitasking skills, and the ability to collaborate effectively on cross-functional teams while also completing independent work with minimal supervision.

    The successful hire will report directly to both the Director of SSMD and the Facilities Engineer of the Facilities Maintenance Unit. Core job responsibilities include conducting specialized maintenance for campus solar energy systems and passenger elevators, servicing and inspecting core campus electrical infrastructure and specialized life safety systems, performing scheduled and reactive maintenance for the campus’s backup generator fleet, ensuring all work adheres to regional and organizational health and safety compliance standards, and completing any other job-related tasks assigned by the ECCB’s executive leadership and department management.

    Interested candidates can access full vacancy details and official application forms via the ECCB’s official careers page at https://www.eccb-centralbank.org/careers. All applications must be submitted no later than Friday, June 19, 2026.

    In addition to the completed application form, applicants are required to submit a full updated curriculum vitae, two original professional reference letters, certified copies of all academic and professional credentials, official academic transcripts, and a recent original or certified copy of a criminal record check or police character certificate. All supporting documentation can be uploaded directly to the corresponding fields in the online application form, or alternatively submitted via email to the ECCB’s Human Resource Department at [email protected].

    This vacancy announcement was published via NOW Grenada, which notes that it is not responsible for the content, opinions or statements shared in contributor-provided announcements, and provides a channel for users to report any abusive content.

  • GCF Private Sector Readiness REOI

    GCF Private Sector Readiness REOI

    The Caribbean island nation of Grenada, whose core economic pillars of tourism, agriculture, and construction are disproportionately vulnerable to climate shocks ranging from extreme hurricanes to accelerating sea-level rise, is taking a key step to unlock critical climate investment by launching a search for a specialized Climate Finance Public-Private Partnership (PPP) Strategist.

    As the country charts a path toward the low-carbon, climate-resilient economic transition laid out in its official Nationally Determined Contributions (NDC) and National Adaptation Plan (NAP), official estimates indicate more than $500 million in targeted investment will be required over the next decade to meet these climate goals. However, persistent gaps in access to international climate finance and limited familiarity with innovative green financing mechanisms have created a critical barrier to progress, making expanded private sector participation an urgent priority.

    To address this gap, the Government of Grenada is leading the “Getting Grenada Private Sector Ready for Grenada’s Climate Finance (GPS-4-GCF)” initiative, implemented by the Grenada Development Bank (GDB) with funding from the Green Climate Fund (GCF) through its Readiness and Preparatory Support Programme. The overarching goal of the project is to build local institutional and industry capacity to leverage climate finance, including targeted training and framework development for private sector stakeholders on core skills such as green finance management, climate risk screening, and climate-aligned investment planning. By cultivating a supportive ecosystem for private sector climate action, the project aims to unlock local contributions to both national climate adaptation and emissions reduction efforts.

    A broad cross-section of local stakeholders stand to benefit from the initiative, including commercial and development banks, credit unions, financial regulatory bodies, insurance providers, private sector businesses ranging from micro-enterprises to large hotel operators, commodity boards and state-owned enterprises, private education and medical providers, construction firms, architects, and engineering professionals.

    The selected consultant will be tasked with delivering clear, results-driven outputs aligned with the project’s objectives. Three core deliverables have been outlined: first, supporting private sector stakeholders to identify existing barriers to investment in climate resilience and emissions reduction, and co-developing actionable recommendations to remove these barriers while helping local actors leverage available public climate finance; second, designing a formal PPP Strategy and Investment Framework for climate mitigation and adaptation infrastructure projects, including the identification of high-priority, investment-ready climate-resilient PPP opportunities; and third, leading outreach and sensitization campaigns to educate private sector actors on the unique investment and development opportunities PPP structures can unlock for climate action in Grenada.

    This is a fixed-price consultancy assignment scheduled to run over a four-month period. The GDB has outlined strict qualifications for interested candidates, requiring a master’s degree or equivalent in finance, climate finance, economics, public policy, development studies, or a related field, with a Certified PPP Professional (CP3P) certification considered a major advantage.

    Candidates must demonstrate a minimum of seven years of hands-on experience developing and implementing PPP investment strategies, with preference given to candidates with existing work experience in the Caribbean or other small island developing states that share similar geographic, financial, and cultural contexts. Additional requirements include at least five years of experience working with the Green Climate Fund, multilateral development banks, or private investors in structuring capital investment arrangements, proven experience delivering climate adaptation and mitigation projects, deep expertise in climate finance, institutional capacity building, and climate risk management, and a track record of collaborating with Caribbean governments and regulatory bodies to design PPP frameworks and policies. Candidates must also have direct experience structuring PPP transactions, blended finance deals, and building pipelines of investment-ready projects, with technical expertise in blending commercial and concessional financing for both sovereign and non-sovereign projects, identifying and mitigating financial, operational, and political climate investment risks, conducting qualitative research and data analysis to develop evidence-based strategies, and building cross-sector partnerships with a diverse range of stakeholders from private investors to micro, small, and medium enterprises (MSMEs).

    The GDB is currently accepting expressions of interest from individual candidates, though firms may nominate one qualified individual candidate per firm for the role; selection will be based solely on the individual candidate’s qualifications and experience, not the nominating firm’s credentials.

    The selection process adheres to the procedures for Individual Consultant Selection laid out in Grenada’s Public Procurement Act 39 and Public Procurement Regulations SRO 32. Candidates will be evaluated on two core criteria: relevant qualifications account for 35% of the total score, while relevant professional experience accounts for the remaining 65%. Only candidates shortlisted through the expression of interest stage will be invited to submit full technical and financial proposals for the assignment.

    Interested candidates must submit their expressions of interest no later than 3 pm Eastern Standard Time on June 26, 2026, with the subject line “GCF Readiness and Preparatory Support Programme – Climate Finance Public-Private Partnership Strategist”. Submissions must include a Statement of Capability confirming the candidate’s availability for the four-month assignment, and a detailed curriculum vitae highlighting relevant completed projects. All expressions of interest must be sent via email to [email protected], with a copy to [email protected], addressed to the General Manager of the Grenada Development Bank in St George’s, Grenada. Full detailed Terms of Reference for the role are available for download on the Grenada Public Procurement website (www.procurement.gd) and the Grenada Development Bank website (www.grenadadevelopmentbank.com), or can be requested via email.

  • Vernon G. Edwards Employees Secure First Collective Bargaining Agreement

    Vernon G. Edwards Employees Secure First Collective Bargaining Agreement

    After years of deadlocked negotiations, workers at Vernon G. Edwards Limited are set to receive upgraded benefits and improved working conditions, after the company and the Antigua and Barbuda Workers’ Union (ABWU) finalized the firm’s first-ever Collective Bargaining Agreement (CBA). This milestone deal caps off a years-long negotiation process that only gained momentum in recent months, following the company’s appointment of a fresh management and negotiation leadership team. Hazel Luke, ABWU’s Industrial Relations Consultant, attributed the long-awaited breakthrough to two key factors: the cooperative, solution-focused framework adopted by the new management, and the consistent, active engagement of workers throughout every stage of talks.

    “The new management team, headed by Jamil Spencer, showed a real commitment to constructive dialogue and moving negotiations out of the stalled phase they’d been stuck in for years,” Luke explained. “Workers and their elected shop stewards also played an indispensable role, bringing consistent commitment and thoughtful, meaningful input to the table.”

    During bargaining discussions, union representatives recognized that Vernon G. Edwards had already implemented significant, proactive salary adjustments for its workforce outside of the formal CBA process. In acknowledgment of these pre-agreement increases, both sides agreed to a structured wage schedule: a one-year wage freeze for 2025, followed by a 2% wage hike in 2026 and a second 2% increase in 2027. The three-year agreement will run from January 1, 2025, through December 31, 2027.

    Beyond the structured wage plan, the CBA delivers a suite of tangible improvements to employee benefits that address common worker priorities. These include expanded annual vacation entitlements for all staff, a new policy that allows workers to roll over up to one-third of their unused vacation leave from one calendar year to the next, a 10% discount on freight fees for employees’ personal imported goods, and guaranteed transportation for any employee who works shifts extending past 6:30 p.m.

    ABWU General Secretary David Massiah celebrated the successful conclusion of negotiations, underscoring the union’s core mission of nurturing mutually beneficial working partnerships between labor and management. “Our union works to build collaborative, constructive relationships that deliver gains for both workers and employers,” Massiah said. “We firmly believe that strong, transparent industrial relations lay the groundwork for more resilient businesses, more satisfied workforces, and healthier, more productive workplaces for everyone involved.”

    Jake Taylor, an industrial relations consultant who participated in the negotiations, also shared his satisfaction with the final outcome, pointing to the company’s demonstrated commitment to collaborative problem-solving. “We’re thrilled to have reached this milestone after so many years of impasse,” Taylor said. “Our goal moving forward is to build a lasting culture of collaboration. Too often, outdated narratives frame management and unions as inherent adversaries, but this deal proves that when both sides come to the table in good faith, we can reach outcomes that serve employees well and support the long-term success of the business.”

  • David Collado says air connectivity and new hotels will drive tourism growth

    David Collado says air connectivity and new hotels will drive tourism growth

    Against a backdrop of mounting industry headwinds ranging from persistent sargassum inundations to shifting global geopolitical instability, the Dominican Republic is prioritizing two key strategic priorities to lock in long-term tourism growth: expanding international air access and scaling up national hotel capacity, according to Tourism Minister David Collado.

    One of the most promising recent developments for the country’s tourism sector comes from Canada, a top source market for Caribbean leisure travelers. Collado confirmed that bilateral engagement has yielded a major boost in air access, with major Canadian carriers agreeing to add more than 100,000 extra airline seats for routes connecting Canada to the Dominican Republic. The expansion follows official visits by tourism officials to Toronto and Montreal, where collaboration with leading airline partners was deepened, laying the groundwork for higher visitor volumes in the coming months.

    Collado emphasized that reliable, expanded air connectivity is the non-negotiable foundation for sustained tourism growth, but matching that increased access with additional accommodation infrastructure is equally critical to meet rising global demand. Even in the face of unforeseen market disruption – specifically the total loss of Russian and Ukrainian visitor markets triggered by the ongoing Eastern European conflict – the Dominican Republic’s tourism industry has maintained remarkable resilience. Current hotel occupancy rates across the country hold between 95% and 98%, a figure that underscores the unmet demand for additional accommodation.

    To keep pace with projected growth over the coming years, industry estimates indicate the Dominican Republic will need to add roughly 30,000 new hotel rooms to its national inventory. As of now, approximately 16,000 of those required rooms are already under active construction. One high-profile project set to open soon that will move the needle on expansion is Moon Palace Punta Cana, a major resort that will contribute 2,500 new rooms to the country’s tourism offering and support the sector’s continued upward trajectory, Collado noted.

  • VM Investments pushes ahead with diversified earnings strategy despite volatile market conditions

    VM Investments pushes ahead with diversified earnings strategy despite volatile market conditions

    KINGSTON, Jamaica — Against a backdrop of persistent global economic headwinds and shifting financial industry dynamics, VM Investments Limited (VMIL) is ramping up strategic initiatives to build a far more diversified earnings structure, with the dual goals of cutting its vulnerability to volatile market swings and laying a resilient foundation for sustained long-term expansion.

    Addressing shareholders at the firm’s annual general meeting held on June 4, VMIL Chairman Michael McMorris outlined that the investment group is intentionally repositioning its core business lines to prioritize three high-stability segments: recurring fee-based income, holistic wealth management services, and alternative asset classes including private equity and commercial and residential real estate.

    This strategic shift aligns with a widespread transformation across the global financial services sector, where institutions of all sizes are increasingly prioritizing predictable, recurring revenue streams that carry far less sensitivity to cyclical market conditions and fluctuations in trading volume compared to traditional market-dependent revenue models.

    “This strategic repositioning is designed to boost the consistency of our earnings, cut our exposure to broad market volatility, and put VMIL in a strong position to capitalize on high-value opportunities across both local Jamaican and broader Caribbean regional markets,” McMorris explained during the meeting.

    Per the company’s official updates, VMIL made consistent progress throughout 2025 in expanding its wealth management division and growing its footprint in alternative investments, while retaining an active, influential role in regional capital markets via its advisory and transaction service lines.

    As part of its long-term growth enablement efforts, VMIL also allocated substantial capital to upgrades in financial technology, expanded talent acquisition and development, and enhancements to its enterprise risk management systems in 2025. These strategic investments pushed full-year operating expenses 3.7% higher year-over-year, a move company leadership framed as a measured balance between targeted growth spending and disciplined cost oversight.

    The ongoing business transformation is unfolding against what McMorris called an unusually challenging operating landscape, marked by tightened global monetary policy, gradually moderating but still uncertain inflation trajectories, heightened geopolitical instability across major markets, and reduced overall liquidity in regional financial systems. The disruptions caused by Hurricane Melissa also added extra pressure on local market conditions over the past year.

    Even in the face of these overlapping headwinds, VMIL delivered strong financial results by the close of 2025. The firm reported total assets reaching JMD 35.1 billion, up from JMD 30.5 billion at the end of 2024. Adjusted for a one-time gain booked in 2024 from the sale of the group’s private equity stake in Carilend, profit after tax jumped 24.1% year-over-year, signaling robust improvement in the company’s core operating performance.

    That positive momentum has carried over into the first quarter of 2026, according to VMIL’s latest financial disclosures. The firm posted a net profit of JMD 70.1 million for the three-month period, a sharp reversal from the JMD 32.5 million net loss recorded in the same quarter last year. Meanwhile, operating revenue rose 16.8% year-over-year to start the year.

    McMorris confirmed that the VMIL board remains fully confident in the company’s long-term strategic direction. The firm will continue prioritizing expansion of its investment product offerings, deepening personalized client relationships, and pursuing targeted opportunities that drive sustainable growth, all while upholding strict standards for prudent risk and capital management.

    The entire transformation initiative is being carried out under the corporate branding theme “Future Ready”, a label VMIL says captures its commitment to strengthening its operational and financial foundation to capture emerging opportunities as the global and regional financial landscape continues to evolve.

  • Embassy of Israel relaunches Dominican-Israeli Chamber of Commerce

    Embassy of Israel relaunches Dominican-Israeli Chamber of Commerce

    In a landmark event held in Santo Domingo, the Embassy of Israel in the Dominican Republic has formally relaunched the binational Dominican-Israeli Chamber of Commerce, opening a new phase of collaborative engagement that spans economic, commercial, technological and cultural exchanges between the two nations.

    The relaunch ceremony doubled as an inauguration for the chamber’s newly assembled board of directors, a cohort that brings together seasoned business leaders with deep, specialized expertise across the finance, technology, and corporate sectors. Unlike a traditional trade association, the reactivated chamber is designed to function as a dynamic, centralized platform that proactively highlights untapped investment opportunities in both markets, streamlines connections for potential business partnerships, and cultivates long-term, mutually beneficial cooperation between Dominican and private sector enterprises from Israel.

    Speaking at the ceremony, Raslan Abu Rukun underscored the transformative potential of the revamped chamber, noting that it is positioned to emerge as a core catalyst for advancing bilateral economic ties. By turning scattered market opportunities into formal strategic alliances and driving inclusive, sustainable economic growth for both sides, the organization can deliver tangible benefits to business communities on both sides, he explained.

    For his part, Ilan Dabara, the newly inaugurated president of the chamber, outlined the institution’s core mission: to act as a reliable bridging institution for companies of all sizes seeking to expand into new geographic markets. Under his leadership, the chamber will prioritize encouraging cross-border innovation, facilitating inbound and outbound investment, and working toward shared, long-lasting prosperity for business communities in both the Dominican Republic and Israel.

    The high-profile gathering drew a diverse crowd of key stakeholders, including senior government officials from the Dominican Republic, C-suite executives from leading regional and international firms, and representatives from both the Dominican and Israeli local communities, reflecting broad interest in deepening the bilateral relationship across sectors.

  • Hadeed family gains stake in GENAC

    Hadeed family gains stake in GENAC

    KINGSTON, JAMAICA – A major shift in ownership structure has reshaped Jamaica’s leading general insurance provider, General Accident Insurance Company Jamaica Limited (GENAC), after the Hadeed family-controlled CGH Limited secured a substantial stake in the company as part of the sale of Trinidad-based Beacon Insurance Company Limited. The transaction, which was formally disclosed in a regulatory filing released on May 28, has positioned the Hadeed family as the second-largest shareholder in the Jamaican insurer, marking one of the most significant regional insurance industry moves in recent months.

    Per the terms of the deal, CGH received a total allocation of 150,021,478 new ordinary shares and 9,700 new redeemable preference shares in GENAC. This share issuance serves as full consideration for the acquisition of Beacon by Musson (Jamaica) Limited, which closed the purchase of the general insurer on October 31 of last year. Following the transaction, CGH now holds a 12.70% stake in GENAC’s total issued ordinary shares, while majority owner Musson has seen its ownership stake drop from 80% to 69.84% of the company’s ordinary shares. Corporate records confirm that CGH is majority-owned by Gerald Hadeed, who holds 66.6% of the holding company, with the remaining 33.4% controlled by Christian Hadeed. In addition to the new stake, both Christian Hadeed and Beacon’s current Chief Executive Officer Christopher Woodhams were appointed to GENAC’s board of directors on May 19, giving the Hadeed group direct representation in the company’s governance.

    Industry observers note that the transaction structure is layered for long-term strategic purposes: while Musson currently holds full ownership of Beacon following its original purchase, GENAC has planned a subsequent acquisition of the Trinidadian insurer from its parent company at a future date. Once this final acquisition step is completed, GENAC will hold a 70% controlling stake in Beacon, with Musson retaining a 30% minority stake in the regional carrier.

    In its official disclosure to regulators, GENAC confirmed that key components of the final acquisition are still pending, noting that the transaction remains subject to final regulatory approval from the governing bodies overseeing Beacon’s operations in Trinidad. Until that approval is secured, the final transfer of Beacon’s ownership cannot move forward.

    Valuation data from Jamaica’s Companies Office puts the ascribed value of the newly issued shares at J$6.32 per ordinary share and US$1,000 per redeemable preference share. That valuation means the newly issued ordinary shares allocated to CGH carry a total worth of J$948.14 million, while the preference shares are valued at US$9.7 million, equal to roughly J$1.51 billion at current exchange rates.

    The news of the ownership restructuring has already had a visible impact on GENAC’s performance on the Jamaica Stock Exchange (JSE). The company’s share price jumped 14% in trading on Tuesday, closing at J$9.15 per share. That gain pushes the insurer’s year-to-date increase in share value to 48% so far in 2026, giving GENAC a total market capitalization of J$9.44 billion as of the close of trading Tuesday.

    Notably, the change in GENAC’s total issued share count has not yet been updated on JSE trading records. Once the newly issued shares are formally converted to standard stock units, the company’s total issued ordinary share count will rise to 1,181,271,478 outstanding ordinary shares. The update is expected to be reflected in exchange records as soon as all post-transaction administrative steps are completed.

  • CIBC Caribbean launches Google Pay in Jamaica

    CIBC Caribbean launches Google Pay in Jamaica

    KINGSTON, Jamaica — As big tech giant Google accelerates its expansion of contactless digital payment infrastructure across the Caribbean region, CIBC Caribbean has become the latest financial institution to roll out Google Pay integration, with a phased rollout that introduces differing access rules across its regional footprint. The launch marks another key milestone in the Caribbean’s gradual shift toward modern cashless payment systems, even as local market challenges remain to full adoption.

    Google Pay, the contactless payment tool hosted within Google’s Wallet mobile application, allows users to link their existing debit or credit cards directly to their Android devices. The platform’s core value proposition lies in its security model: through a tokenisation process, actual bank card details are never shared with merchants during transactions, cutting down the risk of card data theft and fraud. Users can complete both online checkout and in-person contactless payments with just a tap of their smartphone.

    Per CIBC Caribbean’s official announcement, Jennifer Fuller, the bank’s director of enterprise payments, cards and merchant services, framed the launch as a key step in the bank’s ongoing digital transformation strategy. “Introducing Google Wallet support for clients reflects CIBC Caribbean’s ongoing commitment to delivering innovative client-centred digital banking solutions and is another important step in enhancing the digital banking experience for our clients,” Fuller stated in the press release.

    For Jamaican CIBC Caribbean customers, the launch brings immediate access to Google Pay for all Visa and Mastercard credit cards, which can be added to the Google Wallet app on any Android device for instant use. However, the country faces a unique limitation not seen in other CIBC Caribbean markets: Jamaican users will not be able to link their debit cards to the service for the foreseeable future. To date, Jamaica is the only market in the bank’s footprint where this restriction is in place.

    By contrast, CIBC Caribbean customers in four other regional markets — Barbados, The Bahamas, the Cayman Islands and Trinidad & Tobago — enjoy full access, with the ability to add both debit and credit cards to their Google Wallet accounts. The bank confirmed that it plans to gradually roll out the service to its five remaining Caribbean operating territories in the coming months, following a controlled, phased rollout schedule.

    “Adding Google Pay supports our focus on convenience, security and innovation, while allowing us to roll out this service in a phased and controlled manner across our markets. Our clients expect modern payment options that fit their lifestyles, and Google Pay delivers exactly that,” Fuller added, explaining the bank’s incremental approach to the regional launch.

    CIBC Caribbean’s entry into Google Pay comes as part of a broader regional push by Google to expand its digital payment services across Caribbean nations. Other major local banks have already beat CIBC Caribbean to the launch in multiple markets: Commonwealth Bank Limited rolled out the service to its Bahamian customers in November 2025, and Trinidad-based First Citizens Bank Limited launched its own Google Pay support just one month later, in December 2025.

    Prior to CIBC Caribbean’s rollout, the Cayman Islands already had four local banks offering Google Pay to their customers. Across the Dominican Republic, 12 different banks now support the service, with Scotiabank customers in both the Cayman Islands and Dominican Republic already able to link their cards to the platform.

    Digital wallet expansion in Jamaica is not limited to Google Pay, either. Rival digital payment service Apple Pay has also been in the works for the Jamaican market. The Bank of Nova Scotia Jamaica Limited first announced plans to launch Apple Pay in late 2024, and during the Scotia Group Jamaica Limited annual general meeting held on March 4 this year, President and CEO Audrey Tugwell Henry confirmed to shareholders that the launch is still on track for late 2026. Sagicor Bank Jamaica Limited CEO Chorvelle Johnson Cunningham also told investors during a May 20 briefing that supporting Apple Pay, tokenisation and other modern digital payment tools is a core short-to-medium term priority for the institution.

    Despite the growing momentum from banks to roll out these modern payment options, full adoption across the region still faces a notable barrier: pushback from local merchants. A July 2024 survey by the Jamaica Observer found that while the three major Jamaican banks confirmed their digital wallet systems are secure and had not received high volumes of customer fraud disputes, many local merchants have publicly posted signs refusing to accept digital wallet payments at their businesses, slowing the uptake of the new payment method among consumers.

  • Dear Pres. Abinader, The Market Is Waiting for the Dominican Renaissance: A Data-Driven Case for a Digital Nomad Visa

    Dear Pres. Abinader, The Market Is Waiting for the Dominican Renaissance: A Data-Driven Case for a Digital Nomad Visa

    The global shift to cross-border remote work is no longer a passing trend — it is a permanent structural reallocation of talent, income and economic activity that is reshaping national development opportunities. In an open letter addressed to Dominican President Luis Abinader, Jonathan Joel Mentor, CEO of business intelligence firm Successment and founder of the Digital Nomad Summit, argues that the Dominican Republic is uniquely positioned to capture a share of the $400 billion annual global remote work market, but is held back by outdated and fragmented policy.

    Today’s most mobile high-skilled workers — from startup founders and software engineers to knowledge workers and creative freelancers — base their location decisions on a mix of quality of life, digital connectivity, legal stability and living costs. Across Latin America and the Caribbean, forward-looking jurisdictions including Barbados, Costa Rica and Colombia have already recognized this shift and built tailored policy frameworks to attract this demographic, capturing billions in new annual economic activity.

    The Dominican Republic already boasts nearly all the core assets needed to compete for this global talent pool: world-class digital connectivity, extensive air access to major North American markets, year-round tropical climate, unrivaled quality of life and close geographic proximity to the United States and Canada. What the country lacks, Mentor argues, is a unified national policy framework that can convert existing international interest in the country into long-term formal economic participation.

    The current economic landscape of the Dominican Republic highlights a striking paradox. In recent years, the country has posted strong macroeconomic results, with robust GDP growth, stable controlled inflation, and record-breaking tourism arrivals that have cemented the sector as a core economic pillar. Yet beneath this headline success lies a pressing structural challenge: more than half of the national workforce remains employed in the informal economy, and a large share of national income relies on tourism and remittances rather than sustainable, high-value domestic economic creation. While the country already draws billions in foreign currency from these existing sectors, it has not yet fully capitalized on the fast-growing flow of globally mobile professionals who want to live, spend, invest and build their operations in new geographies.

    The economic upside of targeting this segment is substantial, even with a modest target. The average long-stay remote professional spends between $2,500 and $4,000 per month on local goods and services. If the country attracted just 5,000 long-term remote workers, that would generate between $150 million and $240 million in new annual economic activity across local housing, transportation, food services, education and small business sectors — and it would require minimal new public infrastructure investment. The demand for this opportunity already exists; the only barrier is the policy framework to unlock it.

    Mentor frames the proposed Digital Nomad Visa not as a narrow migration policy, but as a strategic economic development tool that can deliver four key complementary benefits for the Dominican Republic. First, it acts as a mechanism to capture high-income foreign talent, whose earnings originate outside the country but whose daily spending directly supports local economic growth. Second, it creates a clear framework for financial inclusion, giving verified remote workers transparent pathways to access the formal domestic banking system. Third, it generates valuable economic intelligence, giving policymakers clearer visibility into new trends in global mobility, consumption and foreign investment. Fourth, it acts as a stable engine of domestic demand, driving year-round economic activity across key sectors that have historically relied on seasonal tourism fluctuations.

    Rather than expanding bureaucratic institutions, the proposal focuses on improving cross-agency coordination, aligning the work of migration, finance, tourism and economic development bodies around a shared national growth goal. Mentor outlines a practical phased implementation plan that prioritizes disciplined, measurable execution over hasty rollout. The first 30 days would focus on granting structural authorization, establishing a unified policy framework and inter-agency mandate to lead the initiative. From 30 to 90 days, teams would design core program elements: eligibility criteria, onboarding procedures, compliance standards and data reporting mechanisms. A controlled pilot program would launch between 90 and 120 days to test participation patterns, spending dynamics and operational efficiency. Finally, between 120 and 180 days, the program would scale nationally and be integrated into broader national economic development strategies.

    Beyond the immediate economic gains from increased consumer spending, Mentor argues that this initiative advances a larger strategic goal laid out in Successment’s 2026 Dominican Innovation & Transnational Export Report (DITER 2026): the idea that data is a core component of national economic sovereignty in the 21st century. Modern economies compete not just on their ability to attract capital, but on their ability to turn fragmented economic activity into actionable insights that improve planning, attract investment and boost long-term competitiveness. The Dominican Republic already generates vast volumes of economic data through tourism, remittances, commerce and mobility, but it has not yet leveraged this data to drive strategic decision-making. Digital nomads, Mentor notes, are far more than just a new consumer segment: they offer a unique, real-time window into how global talent, capital and economic behavior move across borders, giving policymakers critical insight to shape future economic strategy. In this framework, data is not just a byproduct of economic activity — it is core infrastructure that determines how international investors evaluate and engage with the Dominican economy.

    President Abinader’s administration has already guided the country through periods of crisis, growth and structural reform, and Mentor argues that capturing the global mobility economy is the next strategic opportunity for the government. A well-designed Digital Nomad Visa would allow the Dominican Republic to attract global high-income talent, strengthen domestic formal economic activity, improve inter-institutional coordination, and position the country as the leading hub for the emerging mobility economy in the Caribbean.

    To advance this conversation, Mentor announces that the Digital Nomad Summit Santo Domingo will convene policymakers, global investors, entrepreneurs, academics and international stakeholders on August 6–7, 2026 at Hotel Catalonia, to discuss the future of cross-border talent, remote work and national competitiveness. He formally invites the Abinader administration to join the conversation, noting that the global mobility economy is already here — the only question is whether the Dominican Republic will shape its development.

    History, Mentor concludes, rewards countries that recognize structural economic change before it becomes unavoidable. A Dominican Digital Nomad Visa is not just another tourism initiative — it is a policy tool to structure cross-border economic activity on Dominican terms, under Dominican institutions. Global talent, capital and economic opportunity are already moving across borders. The question that remains for the country’s leadership is simple: when will policy move with them?

  • Guyana looking to Dom Rep to boost agricultural production

    Guyana looking to Dom Rep to boost agricultural production

    GEORGETOWN, Guyana – In a move set to transform Guyana’s agricultural sector, the South American nation is deepening agricultural cooperation with the Caribbean country the Dominican Republic to develop commercial-scale mango and avocado cultivation, according to Guyana’s Agriculture Minister Zulfikar Mustapha.

    Mustapha recently held official bilateral talks with Dominican Republic Agriculture Minister Francisco Oliverio Espaillat Bencosme, where the two sides centered discussions on unlocking collaborative opportunities that will lift Guyana’s overall agricultural output, upgrade the country’s technical agricultural capabilities, and expand its range of commercial crops. The partnership, Mustapha emphasized, aligns directly with the Guyanese government’s goal of growing the national agriculture sector while opening new income streams for local producers.

    “Guyanese farmers stand to gain enormous benefits from this collaboration,” Mustapha noted. “Our core focus right now is giving producers the support they need to enter these new large-scale cultivation projects. We will provide certified planting material, targeted skills training, and all the foundational support to get them active in these growing industries.”

    One of the most significant outcomes of the recent bilateral discussions is a formal agreement to advance large-scale mango and avocado production across Guyana. Plans for a national large-scale mango industry have already moved forward through separate talks with former Dominican Republic President Hipólito Mejía, who has agreed to support the initiative. Mustapha revealed that on-the-ground implementation of the mango cultivation project could launch as early as the end of September 2024.

    Pointing to the Dominican Republic’s established success in mango production, where the industry supports roughly 20,000 direct jobs, Mustapha said Guyana aims to replicate that economic impact with its own large-scale operations. Currently, Guyana produces small volumes of mangoes and avocados for local and regional markets, with no major commercial production footprint to tap into global export demand. The new partnership aims to close that gap.

    To help local producers scale up operations, the Guyanese government will offer full support to interested farmers, including access to improved planting stock, expert technical guidance, and specialized professional training. As a key part of the bilateral collaboration, the Dominican Republic has committed to deploying a team of experienced agricultural specialists to Guyana. These experts will work side-by-side with local technical staff and smallholder farmers to build local capacity, design evidence-based crop development strategies, and put in place the supply and distribution systems required to support sustained commercial-scale production.