KPMG to shape policy for new trade ministry

| 07/12/2019 | 13 Comments
Cayman News Service
Ministry of International Trade Acting Chief Officer Andrea Fa’amoe with KPMG Co-
managing Partner Kevin Lloyd at a recent contract signing

(CNS): The government has revealed that it is working with the private sector auditing and consulting firm, KPMG, to create the public policy for the new Ministry of International Trade, Investment, Aviation and Maritime Affairs (MITIAMA), which is currently part of the premier’s ever-growing portfolio. Acting Chief Officer Andrea Fa’amoe said her team met with KPMG in early November, when a contract was signed to officially engage the partnership following a public procurement process.

This new ministry has appointed KPMG to execute a three-part plan, which it has already submitted to government, that includes data collection and bench-marking, stakeholder engagement and strategy development. 

Premier Alden McLaughlin announced the creation of this additional ministry a year ago, against the backdrop of a rapidly changing world and increasing uncertainty of global trade. It is tasked with enhancing the image of Cayman internationally and creating a single doorway for foreign direct investment.

Eric Bush, the new ministry’s chief officer, who is attending the Cayman Alternative Investment Summit (CAIS) in Brazil, said the team was looking forward to developing a strategy that will harness the potential of the public and private sectors.

“We want to understand Cayman’s footprint around the world and identify ways to sustain and expand that footprint,” Bush said. “We strongly believe that data should drive policy. Our data driven strategy will ensure Cayman remains relevant and forward-thinking in a rapidly evolving environment.”

Officials said the ministry and KPMG will work closely with the public and private sectors on attracting inward investment, diversifying the local economy and improving the ease of doing business in Cayman.

“KPMG’s solution to the ministry’s request for stakeholder engagement, data analysis and strategic planning combines our intimate local knowledge of the Cayman Islands with global best practice,” said Kevin Lloyd, Co-Managing Partner at KPMG.

“We have been fortunate enough to work alongside the Cayman Islands Government on key infrastructure and strategy engagements in the past. We are looking forward to helping this new Ministry in this vital development stage, ensuring the protection and promotion of the Cayman Islands to ensure that we achieve our full potential,” Lloyd added.

According to previous announcements, this ministry will be looking to open offices around the world. The original plan was to target Asia in the first instance, and background work has being going on to identify and open an office in Hong Kong. However, there has been no indication in recent weeks whether or not that remains on the ministry agenda given the continued, violent unrest in the jurisdiction by democratic activists.

Meanwhile, CNS has contacted the ministry to ask for details of the tender and contract value and we are awaiting a response.

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Category: Policy, Politics

Comments (13)

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  1. MR says:

    Can we send Alden to man the Hong Kong office?

  2. Anonymous says:

    This is what we get when the DG appoints his friend to the Chief Officer position and appoints Gloria Nixon’s friend to the Deputy Chief Officer position without advertising either post as required by the Public Service Law. People appointed to positions that have no clue what to do, so we have to hire a consultant to do the job PLUS pay the Chief Officer and Deputy CO.

    World Class bobo.

    • Anonymous says:

      It is called a parasitic organization and culture. Go figure what it requires to survive.

  3. Anonymous says:

    So, the Premier created a new Ministry but did not know what it was going to achieve? Maybe they should have done the survey BEFORE creating the new Ministry.

    Also, the Deputy Governor appoints Eric to this senior role without advertising the position and without having a fair and open recruitment process, and we come to see now that the tree that the DG planted cannot bear fruit so we need help from Roy’s ex-employer to make things look better

  4. Cayman says:

    This is just ridiculous. What is Arlene background. What was her last job? What a joke… Free trips for all!!!

  5. Anonymous says:

    On a per capita basis, the Cayman Islands must have the largest government in the world. At what point do we stop finding ideas to keep hiring more and more Caymanians to work in the Cayman Islands Government?

  6. Anonymous says:

    Rather than calling it a Ministry of International Trade the more appropriate name would be the Ministry of Foreign Investment and Financial Services as that is what we are all about. What the hell are we going to start exporting? A few bottles of rum and rum cakes? This is a joke but a great excuse to hire a few hundred Caymanians and give them basically meaningless jobs. Let the private sector do this. Walkers and Maples can do it more effectively on a contract, and at a much lower cost, as they have offices around the world. They know Cayman far better than KPMG. No need to reinvent the wheel.

  7. Anonymous says:

    What are we going to export? Rum cakes?

  8. Anonymous says:

    Opening offices around the world? What a joke and waste of money. Utilize Walkers and Maples who have offices around the world and save a huge amount of money. Both firms already have experts in their offices around the world and know Cayman.

  9. Say it like it is says:

    Prince Andrew was known as “Air Miles” Andy for all the miles he used to log on his numerous overseas trips. It seems we now have our own “Air Miles” Eric.
    Incredibly it seems Government created “MITIAMA” Ministry before it knew what it was going to do. Is there any Government Ministry or Department that does not have to turn to private sector consultants to do their job for them?.

  10. Anonymous says:

    Yet another exercise in futility. Nice travel perks to Brazil though.

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