The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion

GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.

The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”

“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”

77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.

CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.

In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  

With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.

To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 

Website: www.caymanenterprisecity.com
LinkedIn: @CaymanEnterpriseCity
Twitter:  @CEC_Cayman
Instagram: @CaymanEnterpriseCity
Facebook: @CaymanEnterpriseCity
YouTube: @ceccayman

About Cayman Enterprise City 

Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.

About Enterprise Cayman 

Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!

Logo: https://mma.prnewswire.com/media/1317764/2860789/Cayman_Enterprise_City_Logo.jpg

FOR MORE INFORMATION:

Contact: Kaitlyn Elphinstone  
Email: [email protected]  

View original content:https://www.prnewswire.co.uk/news-releases/cayman-enterprise-city-publishes-socio-economic-impact-assessment-by-economist-and-leading-advisor-on-the-caribbean-marla-dukharan-302148206.html

CHISINAU, Moldova, May 16, 2024 /PRNewswire/ — Moldova is positioning itself as a rising tech hub with the release of the “IT Investment Guide for Moldova“, prepared by Emerging Europe. This guide provides detailed insights into Moldova’s dynamic IT sector, showcasing strategic advantages, opportunities, and incentives for investors.

The Moldova Innovation Technology Park (MITP) is central to this transformation, driving the nation’s digital agenda and fostering a robust innovation ecosystem. Hosting over 21,190 IT specialists, MITP significantly contributes to Moldova’s GDP and IT exports.

Key Advantages of MITP:

• Single Tax Rate: MITP residents enjoy a single tax rate of 7%, replacing the entire tax burden for companies and employees.
• Zero Corporate Income Tax: Resident companies are exempt from corporate income tax, local taxes, real estate, and road taxes.
• Work Permits: The IT Visa Programme offers four-year work permits for top managers and two-year permits for IT specialists and their families.
• Talent and Education: Moldova has a strong pool of IT graduates, supported by leading universities and training programs.

Growth and Achievements:

Moldova’s IT sector has shown remarkable growth and resilience. Between 2016 and 2022, the sector achieved a 37.1% annual revenue growth rate and a 40% annual growth in IT exports. The IT sector now constitutes a significant part of Moldova’s economy, with MITP accounting for about 80% of the sector and five percent of the nation’s exports.

The guide highlights success stories of international and local companies thriving in Moldova’s business environment, including Amdaris, Endava, Bloomcoding, and Crunchyroll. These companies have leveraged MITP’s benefits to expand and innovate in their respective fields.

Strategic Positioning:

Moldova’s alignment with the European Union’s Digital Transformation Strategy enhances its appeal to investors. The country’s commitment to digitalization is evident in its advanced public services and robust infrastructure. Moldova ranks highly in the IT Competitiveness Index, surpassing many regional peers in talent availability, business environment, and economic impact.

A Promising Future:

Moldova’s digital transformation strategy aims for 100% digitalization of public services, setting a high standard for tech-driven economic development. For investors and businesses exploring opportunities in Eastern Europe, Moldova offers a compelling proposition. The “IT Investment Guide for Moldova” showcases the country’s achievements and serves as a roadmap to its digital future.

Photo – https://mma.prnewswire.com/media/2414983/MITP_Investment_Guide.jpg

View original content:https://www.prnewswire.co.uk/news-releases/moldova-innovation-technology-park-unveils-comprehensive-it-investment-guide-highlighting-tech-potential-302148108.html

Accion Venture Lab, the Mastercard Center for Inclusive Growth, and the Dutch entrepreneurial development bank FMO, today announce the Fintech for Inclusion Global Summit that will take place in London on Thursday, September 12.

The summit will see over 40 fintech companies from 5 continents come together with investors, regulators, and other stakeholders in the global inclusive fintech community to discuss how innovations in embedded finance, AI, and other emerging technologies can be leveraged to meet the financial needs of vulnerable communities, including women and smallholder farmers. Globally, nearly 2 billion people are excluded from the financial system, lacking a safe place to save money, credit to manage and grow businesses, and insurance to protect against disasters. Micro, small and medium businesses are facing a $5 trillion credit gap.

Accion Venture Lab’s Managing Partner Rahil Rangwala said, “By bringing this group of fintech innovators together in London – one of the world’s most dynamic financial capitals – we can explore new ways of providing high-quality financial solutions to underserved clients globally. Participants will learn the latest industry insights and forge new partnerships, as they adapt to the rapidly evolving business landscape.”

Companies present at the summit are already leveraging new uses of technology and data to provide responsible financial services to low-income groups in innovative new ways. From using transport data to provide financing to operator-owned truck drivers in Pakistan, to deploying AI so small-scale pharmacies in Kenya can improve access to quality medicines and reduce waste, they are solving pain points for small businesses and low-income groups across emerging economies.

Mastercard Center for Inclusive Growth’s Executive Vice President for Global Programs, Payal Dalal, comments that: “With their ability to connect underserved people to the digital economy, often for the first time, fintech innovators have a key role to play in tackling global challenges and making economic growth more inclusive. The Fintech for Inclusion Summit will bring together leaders and frontline practitioners to share their learnings and build new connections, which is a vital part of driving scale.”

Speaking on the topic, Marieke Roestenberg, Manager of FMO Ventures Program, said: “We are pleased to once more co-host this important event with Accion Venture Lab – now in partnership with the Mastercard Center for Inclusive Growth – to bring together industry leaders focused on developing innovative fintech solutions for underserved communities. Holding the event in London this year will enable more key stakeholders to join the conversation and explore collaboration opportunities.”

Accion Venture Lab organizes the Fintech for Inclusion Global Summit as part of its work with entrepreneurs to build scalable businesses that address gaps in financial services around the world. It is a leading early stage fintech investor with a 10+ year track record of delivering financial and social returns. With its global team, it provides hands on strategic and operational support that is critical to the success of early-stage companies, while quickly spotting and responding to global trends, and sharing learnings across geographies.

Speakers will include TS Anil, CEO of Monzo, Jorn Lambert, Chief Product Officer of Mastercard, Jonathan Whittle, Managing Partner of Quona, and Michael Schlein, CEO of Accion. Conference partners include the Mastercard Center for Inclusive Growth, Citi Foundation, and FMO Entrepreneurial Bank. For more information and tickets see www.fintechforinclusionsummit.com

The post Fintech for Inclusion Global Summit to bring some of world’s most innovative financial start-ups to London on September 12 appeared first on HIPTHER Alerts.