HC Deb 22 November 1994 vol 250 c106W
Sir Thomas Arnold

To ask the Secretary of State for Foreign and Commonwealth Affairs what plans he has to promote inward investment to the Turks and Caicos islands; and if he will make a statement.

Mr. Baldry

Inward investment in the Turks and Caicos islands is the responsibility of a newly created statutory body, TCInvest, whose chief executive officer has just been appointed. It is hoped that TCInvest, which has been supported by the United Nations development programme as well as by Her Majesty's Government, will be the catalyst in attracting substantial private and corporate investment into the territory.

Sir Thomas Arnold

To ask the Secretary of State for Foreign and Commonwealth Affairs what plans he has to promote economic self-sufficiency in the Turks and Caicos islands; over what time-scale; and if he will make a statement.

Mr. Baldry

In October 1994, Her Majesty's Government and the Turks and Caicos islands Government signed a country policy plan. The country policy plan is designed to set a number of objectives for the TCIG to meet in terms of economic management, good government practice and administrative reforms. It is linked to an aid programme funded by Her Majesty's Government.

Part of the country policy plan deals with the need to set reasonable economic targets. Combining these targets with inward investment and an expanding service and offshore finance industry based on sound regulation, should produce substantial progress towards economic self-reliance over the three-year period of the country policy plan.

Sir Thomas Arnold

To ask the Secretary of State for Foreign and Commonwealth Affairs what changes he plans to the present powers and the role of the Governor of the Turks and Caicos islands.

Mr. Baldry

There are no changes planned to the present powers and role of the Governor of the Turks and Caicos islands.

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