Inward investment, also commonly referred to as Foreign and Direct Investment (FDI) has the potential to create new jobs, bring or transfer new technology, capabilities, and expertise to the Falkland Islands, increase human capital, and boost the connectivity to new global, according to U.K.-based consultancy firm Queenstown Strategic Advisors (QSA), which recently published a review of foreign investment options for the Falkland Islands.
Co-financed by the Falkland Islands Chamber of Commerce and Falkland Islands Development Corporation (FIDC), the report “Falkland Islands Inward Investment Review” notes that when managed well, inward investment can bring new capital, technology, and expertise, strengthen human capital through skills and training, improve connectivity and open access to new global markets, increase GDP and expand the Islands’ tax base, and create higher-quality jobs.
Separated into six chapters, the report also measures the Falkland Islands against other small island economies, including Bermuda, St. Helena, Cook Islands, and Faroe Islands, notes case studies within the Falkland Islands where foreign investment is present, including Stanley Services Limited, and Falkland Islands Company (FIC), and provides a set of priority recommendations, including the need for a legislative framework when it comes to inward investment.
“Once again, QSA has delivered a comprehensive report on a key component necessary for the Falkland Islands’ economic development,” said Zachary Franklin, managing director for FIDC. “As the principle lender in the Falkland Islands, FIDC looks forward to progressing this forward and seeing more financing options made available to Falkland Islands businesses.”
The Chamber of Commerce and FIDC have recommended a joint working group be set up with select civil servants from Falkland Islands Government (FIG) and current Members of the Legislative Assembly.
Download the Report here.
