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CIIB renamed Department of Commerce and Investment

Published 10th February 2010, 4:13pm

February 10, 2010 – Effective immediately, the Cayman Islands Investment Bureau will be known as the Department of Commerce and Investment. This announcement was made by the Premier at a press brief yesterday and forms part of the overall plan to streamline the agency’s operations within a new policy framework that should prove more conducive to fuelling long term economic development.

Charged with the task of restructuring its operations to increase emphasis on inward investment and implement complementary strategies that capitalize on local commerce and business development opportunities, the Bureau found that a name change would be necessary to better communicate the broad range of services that it will provide.

The Department of Commerce and Investment will be responsible for stimulating and facilitating appropriate, long-term, inward and local investment in the Cayman Islands, providing technical assistance to local entrepreneurs and small businesses and linking investors with potential customers, suppliers and other business partners. Units within the department will be (i) Investment Support Services - responsible for attracting and facilitating the interest of foreign investors pursuing business opportunities (ii) Small Business Development Unit- an evolution in the existing programme structure that provides technical assistance to local small business owners and entrepreneurs (iii) Cayman Islands Film Commission - tasked with attracting and facilitating the interest of foreign film and television producers in the use of the Cayman Islands as a filming location.

As of March 1st the Trade and Business Licensing Secretariat will also be integrated into the new department structure as it is the common thread between foreign and locally owned businesses.

For more information, please contact the CIIB at 345-945-0943 or via email at info@investcayman.ky

 

February 10, 2010 – Effective immediately, the Cayman Islands Investment Bureau will be known as the Department of Commerce and Investment. This announcement was made by the Premier at a press brief yesterday and forms part of the overall plan to streamline the agency’s operations within a new policy framework that should prove more conducive to fuelling long term economic development.

Charged with the task of restructuring its operations to increase emphasis on inward investment and implement complementary strategies that capitalize on local commerce and business development opportunities, the Bureau found that a name change would be necessary to better communicate the broad range of services that it will provide.

The Department of Commerce and Investment will be responsible for stimulating and facilitating appropriate, long-term, inward and local investment in the Cayman Islands, providing technical assistance to local entrepreneurs and small businesses and linking investors with potential customers, suppliers and other business partners. Units within the department will be (i) Investment Support Services - responsible for attracting and facilitating the interest of foreign investors pursuing business opportunities (ii) Small Business Development Unit- an evolution in the existing programme structure that provides technical assistance to local small business owners and entrepreneurs (iii) Cayman Islands Film Commission - tasked with attracting and facilitating the interest of foreign film and television producers in the use of the Cayman Islands as a filming location.

As of March 1st the Trade and Business Licensing Secretariat will also be integrated into the new department structure as it is the common thread between foreign and locally owned businesses.