Business

IDB hoping to connect regional firms in digital space to Miami firms

Inter-American Development Bank (IDB) President Mauricio Claver-Carone is working to remove tourism from the tops of investors’ minds and have them begin to immediately think of the Latin America and Caribbean (LAC) region in terms of the opportunities in the digital space.

Claver-Carone, who held a roundtable discussion with regional media yesterday, said the IDB plans to connect regional startup companies and entrepreneurs in the digital sector to roughly 1,500 multinational corporations in Miami.

“We need to have a greater footprint in Miami and take advantage of those 1,500 multinationals,” said Claver-Carone.

“We want to see how the IDB can help that digital transformation market in Miami translate to job creation, growth opportunities and job opportunities in Latin America and The Caribbean.

“I want people, when they think about the Caribbean, they don’t think first about tourism. We want them to think about opportunities in the digital sphere, opportunities for digital entrepreneurship.” 

Claver-Carone said it will be important for countries in the region to have a legal and regulatory framework and investment framework that allows for these kinds of investments to occur. He added that improved digitalization will act as vehicle for nearshoring, attracting further investment into countries in the region in the digital and tech space. 

“We need to put the Caribbean on the map, keep it on the map and scale it up beyond tourism,” he said. “This is a first step in a broader vision that we have in order to create a digital bridge between Miami and Latin America and the Caribbean,” Claver-Carone said.

The IDB’s Miami-Latin America and Caribbean Digital Entrepreneurship Forum in Miami begins today. According to an IDB release on the forum, it will “promote digital trade and investment opportunities between South Florida and the IDB’s 26 borrowing member countries”.

Claver-Carone said the IDB will use its private sector arm IDB Invest to find ways to partner with those 1,500 multinational corporations, including financial institutions, in Miami.

He insisted that Miami is the “key” gateway for leading investments into the LAC region.

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Chester Robards

Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian. Education: Florida International University, BS in Journalism

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