CARIBBEAN EXPORT DEVELOPMENT AGENCY REQUEST FOR PROPOSALS NOTICE CONSULTANT

Transcription

1 CARIBBEAN EXPORT DEVELOPMENT AGENCY REQUEST FOR PROPOSALS NOTICE TITLE: INVESTOR PERCEPTION SURVEY AND ANALYSIS FOR CARIFORUM CONSULTANT 1. Caribbean Export Development Agency (Caribbean Export), in collaboration with the Regional Investment Promotion Steering Committee, invites proposals from qualified contractors to provide consultancy services for the execution and presentation of analysed results from an Investor Perception Survey and Analysis for CARIFORUM. Contractors are invited to submit a detailed technical and financial proposal. 2. The proposed consultancy is being undertaken in the context of the 10 th European Development Fund Private Regional Sector Development Programme. 3. The assignment, detailed in the attached Terms of reference (TOR) is geared towards the contracting of a consultant to undertake the execution of an investor perception survey for CARIFORUM, that increases understanding of the factors that have and will influence the investment decisions of foreign and local investors in the region and that provides an analysis of future trends and prospects given perceptions of the regional investment climate. 4. The consultant will be required to design the project, undertake the survey, analyse the responses and produce detailed reports on findings as defined in the attached terms of reference. Suitable applicants must submit a proposal (including a technical and a financial sub- section) that seeks to achieve the stated objectives. 5. All proposals are to be addressed to: Executive Director c/o: Mr. Chris McNair Caribbean Export Development Agency 1 st Floor Baobab Tower Warrens St. Michael BARBADOS 6. Proposals may be sent via mail to the address noted above in Section 5, or by to the attention of Mr. Christopher McNair at: cmcnair@carib-export.com copied to shudson@carib-export.com

2 7. The deadline for all submissions is: 14 August 2012 at 4:30 pm (AST). Late submissions will not be accepted. 8. All questions regarding the terms of reference should be sent by to copied to Or telephone The Consultant will be supervised by the Executive Director, Caribbean Export Development Agency (or his/her nominee) who will have responsibility for overseeing the Consultancy and compliance with the scope of work. The Consultant will work closely with the Regional Investment Promotion Steering Committee. 10. The successful consultant will be required to enter into a Contract with Caribbean Export Development Agency. 11. A proposal will not be considered unless it complies with the conditions set out in this notice. 12. Caribbean Export Development Agency does not bind itself to accept the lowest, or any proposal submitted. 2

3 Appendix 1: TERMS OF REFERENCE Terms of Reference Investor Perception Survey and Analysis for CARIFORUM 1. BACKGROUND INFORMATION 1.1. Beneficiary countries CARIFORUM Region: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago 1.2. Contracting Authority Caribbean Export Development Agency 1.3. Relevant background The proposed activity is being undertaken through the provision of funding assistance by the European Union in the context of the 10 th European Development Fund (EDF). Caribbean Export, as the main beneficiary of the funding assistance has been charged with the implementation of a Regional Private Sector Development Programme (RPSDP) and has targeted as one of its priority areas, the development and initial implementation of a Regional Investment Promotion Strategy (RIPS). The overall objective of the Regional Private Sector Development Programme is to contribute to the gradual integration of CARIFORUM countries (Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago) into the global economy. More specifically, the objectives of the RPSDP are: a) Enhancing Competitiveness and Promoting Innovation among CARIFORUM s Private Sector; b) Promoting Trade and Export Development among CARIFORUM States; c) Promoting stronger trade and investment relations among CARIFORUM and French Caribbean Outermost Regions (FCORs) as well as European Union (EU) Overseas Countries and Territories (OCTs) in the Caribbean; and d) Promoting stronger trade and investment cooperation between CARICOM and the Dominican Republic (DR). There is also a complementary objective of strengthening the institutional capacity of Caribbean Export to implement trade and investment promotion programmes in the region through its export development programming and through support to the Caribbean Association of Investment Promotion Agencies (CAIPA). 3

4 1.4. Current state of affairs in the relevant sector Governments are aware that investments play a critical role in the economic development of their economies. FDI can help host countries further their economic development goals by providing access to internationally available technologies and managerial know-how, increasing access to foreign markets, and by making host countries less prone to sudden reversal of flows during times of crisis. It is therefore not surprising that many countries are engaged in fierce competition for FDI inflows. For the Caribbean, investment flows are reported to have increased for the first time in 2011 after falling for two years in a row due to the economic crisis 1. The increase appears to have been restricted however to investments in natural resources projects in the Dominican Republic and Suriname and the construction of the largest hotel complex in the region in the Bahamas. However, overall, investments in the real estate and tourism sectors continued to demonstrate the adverse effects of the financial crisis. In the instances where capital investment has taken place, these are reportedly taking place at higher costs of capital, thereby increasing the risks associated with the operations. Ultimately the cycle does not repeat with significant value added, resulting in negative investment in the long term. As the inward flows of FDI remains low worldwide (as much as 33% below the 2007 peak) with predictions of slower FDI growth in the near to medium term relative to , increased competition for the scarce resources has prompted many governments within the Caribbean to re-examine their business environment for the attraction of FDI. Some countries have increased the level of dialogue with the private sector with a view to implementing business environment reform proposals via a public-private sector partnership, while others have engaged the technical assistance of international donors to assist in the implementation of needed reforms. Many of the answers to questions of whether a country s business environment is friendly to investors lie with the investors themselves as investment location decisions are based not only on hard facts and data but also on opinions, perceptions, transparency levels and anecdotal experience. These often play a crucial role in shaping the investors image of a country s attractiveness. Several studies have been undertaken over the years in an effort to capture and gauge these perceptions at a national and a regional level within the Caribbean. In 2004, a regional investor perception survey was undertaken by FIAS, the Investment Climate Services Advisory arm of the World Bank. Firm level surveys in Latin America and the Caribbean have also been undertaken on various issues in 2006 and again in 2010 by the World Bank Enterprise Survey (WBES) Inter-American Development Bank (IADB. At the national level, some countries, through the Investment Promotion Agencies 1 Foreign Direct Investment in Latin America and the Caribbean, ECLAC, World Investment Report 2012, UNCTAD,

5 undertake frequent investor surveys as well, while others, like the Dominican Republic, through UNCTAD have utilized investors opinions while framing the Investment Policy Review. The need for an updated, regional survey, that can be used to assess the region s attractiveness, performance and its potential, is critical to any investment promotion strategy development. The results of the survey will be used to assist in the positioning of the region by providing information to potential investors, domestic policymakers and international partners of the views of existing foreign investors in the Caribbean Related programmes and other donor activities: The execution of this study is being proposed within the context of activities being undertaken by Caribbean Export towards the development of a Regional Investment Promotion Strategy and by CAIPA in the promotion of the region for investments. These activities are taking place under the Regional Private Sector Development Programme (RPSDP) that is being administered by Caribbean Export and forms a part of the Competitiveness and Innovation programme. Other related donor activities include the Caribbean Growth Forum that is being coordinated by the Inter-American Development Bank (IADB), the Caribbean Development Bank, and the World Bank identifying factors that will drive growth in the region. CARICOM Member States also have the platform of the Revised Treaty of Chaguaramas on which to craft a regional investment strategy. CARICOM has established a Special Technical Team on Investment (STTI) and is preparing a legal instrument called the CARICOM Investment Code (CIC) which will form one basis on which those Member Sates facilitate and promote investments intra regionally. Associated with the CIC will be an annex which will provide a Model Investment Template for facilitating and promoting Investment from outside CARICOM. 2. OBJECTIVE, PURPOSE & EXPECTED RESULTS 2.1. Overall objective The development of a Regional Investment Promotion Strategy is a key element of Caribbean Export s work programme under the overall objective of the Competitiveness and Innovation component of the RPSDP. Under this component, the aim is to enhance Competitiveness and to promote Innovation among CARIFORUM s private sector. Progress towards this outcome is assessed in several areas, one of which is the development and initial implementation of a Regional Investment Promotion Strategy that will be guided by an established Regional Investment Promotion Steering 5

6 Committee. The Strategy s development will be informed by the results of an investor perception survey Purpose The specific purpose of this contract is the execution of an investor perception survey for the Caribbean that increases understanding of the factors that have and will influence the investment decisions of foreign and local investors in the region and that provides an analysis of future trends and prospects given perceptions of the regional investment climate Results to be achieved by the Consultant The consultant is expected to deliver the following results: Survey project design which will include a review of the investor perception surveys that have been undertaken within the region and by international partners outside the region over the last 10 years, providing a summary assessment to assist with the design and implementation of this project; Recommend a suitable detailed methodology, including an analytical framework for the selection of investors and a comprehensive questionnaire that can be utilized in the execution of this assignment; Produce a detailed report that provides an interpretation and analysis of the results generated for the region, as well as individual country reports with findings; Make recommendations on strategies that can be used to generate a change in negative perceptions of investors on investing in the Caribbean, in order to attract investment inflows into the region and increase intra-regional investment flows; and Provide a regional database on investors based on information provided during the study. 3. ASSUMPTIONS & RISKS 3.1. Assumptions underlying the project intervention 3.2. Risks ü The list of current investors by country, as well as potential investors, will be easily attainable ü The response rate from investors to the questionnaire will be high ü The response will be provided within the timelines programmed. The risk is that the above-mentioned assumptions are not fulfilled and as a consequence the anticipated results and objectives of the project are not realized. 6

7 4. SCOPE OF THE WORK 4.1. General Caribbean Export is seeking the professional services of an expert in survey design and implementation, with the capacity to manage multi-disciplinary teams in a large scale project with a global reach. Specifically, the services provided will result in the achievement of objectives detailed in item 2.3 of this Terms of Reference. To achieve this, it is expected that the consultant will undertake the following: A. Survey project design to include the conduct of a review of the investor perception surveys that have been undertaken in the region over the last 10 years, as well as best practices of international organizations in this area, with a view to providing recommendations that will inform the development and execution of this survey; B. Recommend a suitable detailed methodology, including an analytical framework for the selection of investors and provide a comprehensive questionnaire that can be utilized in the execution of this assignment; C. Identify the sampling frame, test the questionnaire and make required adjustments to the survey instrument based on the results; D. Execute the amended survey instrument via the most suitable survey method; E. Enter data into an agreed data processing software, generate and interpret results, with the provision of a report that details the main findings for the region, as well as individual country reports with findings; F. Develop a database with key information garnered from investors during the survey, including but not limited to contact information, sector, source country for investment, value of investment, jobs created; G. Develop and deliver a PowerPoint presentation on main findings to the Regional Investment Promotion Steering Committee Geographical area to be covered by the Consultant CARIFORUM states Target groups Foreign and local investors and affiliates within the CARIFORUM region, Investment Promotion Agencies within the region and potential investors outside the region Specific activities In order to realize the objectives and results, the Consultant will be specifically required to undertake the following tasks: 7

8 i. Undertake an evaluation of investor perception surveys that have been executed in the region over the last 10 years, providing a summary report on the survey design and findings, as well as a sample of those undertaken by international organizations, with a view to providing recommendations for the design and execution of this assignment; ii. iii. iv. Develop a detailed methodology for implementation of the survey, identifying the sampling frame that incorporates local, foreign and potential investors, and provide a comprehensive survey questionnaire; Test the questionnaire and make required adjustments to the survey instrument based on the results; Execute the amended survey instrument via the most suitable survey method that will provide the highest response rate; v. Enter data to an agreed survey software and produce a report with generated and interpreted results to include tables and graphs, detailed in WORD format, that highlights the findings for the region, as well as individual country reports with findings. The report should provide information on key lessons learnt and recommendations for implementation of this survey on a periodic basis; vi. vii. Provide a comprehensive database for the region, with key contact information and data garnered from investors during the survey, using an agreed format; Develop a PowerPoint presentation on the main findings from the survey for delivery to the Regional Investment Promotion Steering Committee Project management Responsible body The Caribbean Export Development Agency will be responsible for the management and coordination of this project Management structure The Manager, Competitiveness and Innovation will retain overall responsibility for the project and will report the performance of the project to the Executive Director. Day-to-day supervision of the activities of the project is the responsibility of the Senior Advisor for Investment promotion (based in the Dominican Republic) Facilities to be provided by the Contracting Authority and/or other parties Not applicable. 8

9 5. LOGISTICS, TIMING AND PROJECT PRICE 5.1. Location CARIFORUM 5.2. Commencement Date & Period of implementation of tasks The intended commencement date is 20 August, The period of implementation for this contract is 4 man months over an elapsed period of 150 days. 6. REQUIREMENTS 6.1. Personnel Key expert(s) The key expert(s) should have the following: Qualifications & Skills 1. A degree and post-graduate qualification in a relevant discipline which includes a quantitative element, such as statistics or economics; 2. An established reputation in survey design and implementation based on significant relevant experience, including experience within the Caribbean; 3. Skills in using statistical and/or data processing software such as SPSS or Stata; 4. Excellent oral and written communications skills with fluency in written and spoken English. General Professional Experience 1. Minimum ten (10) years experience in the field; 2. Experience of managing medium to large projects and multi-disciplinary teams, preferably in a consulting environment; 3. An understanding of the operation of Caribbean firms and experience working with foreign investors; 4. General knowledge of the investment climate and the challenges faced by investors in the Caribbean Other experts, support staff & backstopping Only one key expert will be required for this contract Office accommodation No office accommodation at the Caribbean Export Development Agency is required 9

10 for the key expert Facilities to be provided by the Consultant The Consultant shall ensure that additional experts, if required, are adequately supported and equipped. In particular, the Consultant shall ensure that there is sufficient administrative, secretarial and general support for each additional expert to enable the Consultant to concentrate on his/her primary responsibilities. The Consultant must also transfer funds as necessary to support the activities under the contract and to ensure that all employees are paid regularly and in a timely fashion Equipment No equipment is to be purchased on behalf of the Contracting Authority/beneficiary countries as part of this service contract or transferred to the Contracting Authority/ beneficiary countries at the end of this contract. Any equipment related to this contract which is to be acquired by the Contracting Authority/beneficiary countries must be purchased by means of a separate supply tender procedure. 7. REPORTS 7.1. Reporting requirements The consultant will submit the following deliverables: Report 1 - Inception report that includes but is not limited to: an assessment of similar studies undertaken within the region as well as a sample of those undertaken internationally, with recommendations for the design and implementation of this project/methodology; the sampling frame; draft questionnaire; timelines to be delivered within 2 weeks of commencement of this assignment (3 September 2012); Progress Reports every 2 weeks detailing developments regarding project implementation and proposed solutions to challenges faced; Report 2 Generated and interpreted main findings for the region to be presented in a draft report with an executive summary, using Microsoft WORD format with tables and graphs on 19 November 2012; Report 3 Country specific reports with findings, each with an executive summary, using Microsoft WORD format with tables and graphs, to be delivered on 7 January 2013; Report 4 Database with investor information, to also be delivered on 7 January 2013; Report 5 A comprehensive Final Report that includes the methodology used, an executive summary, the analysis of the main findings for the region and for the individual territories, as well as lessons learnt/recommendations and select verbatims where applicable. A PowerPoint presentation is also required that 10

11 summarizes the Report, to be presented to the Regional Investment Promotion Steering Committee to be delivered by 18 January Submission & approval of reports The deliverables referred to above must be submitted to the Senior Advisor, Investment Promotion. All deliverables must be submitted in English. The Senior Advisor, Investment Promotion is responsible for approving the deliverables. 8. BUDGET AND PAYMENT SCHEDULE 8.1 The total cost of the consultancy will not exceed US$45,000 including professional fees, all travel (international, local and allowances) and other expenses incurred by the Consultant, such as for telecommunications, secretariat etc. 8.2 The Consultant will be paid in the following manner, after submission of the required deliverables in original and the original signed invoices to the Contracting Authority. All work must be completed to the satisfaction of Caribbean Export. Payment Terms (i) (ii) (iii) (iv) First payment, a maximum of 15% of the contract value, after submission and approval by Caribbean Export of an inception report, Report 1; Second payment of 35% of the contract value after submission and approval by Caribbean Export of Report 2; Third payment of 25% of the contract value after submission and approval by Caribbean Export of Reports 3 and 4; Final payment of 25% of the contact value after submission and approval by Caribbean Export of the final report, Report MONITORING AND EVALUATION 9.1. Definition of indicators Performance on the project will be measured by timely submission of the deliverables outlined in Section 4.2 and as outlined within the work plan. Feedback on each submitted deliverable is not a requirement for the continuation of the project. The Contracting Authority will provide feedback to the consultant within five (5) working days of receipt of the final deliverable Special requirements None. 11