Important economic benefits for the Cayman Islands based upon a solid public/private partnership will be a key focus for the upcoming Future of Cayman Forum, which will be held on 23 November at The Ritz-Carlton, Grand Cayman.  To further this aim, a discussion on Good Practice in Public Private Infrastructure Partnership (PPP) will open a series of breakout sessions on the topic of building a better infrastructure.

Cayman’s Auditor General, Alastair Swarbrick, who heads Cayman’s watchdog of public spending, will be joining the discussion on the PPP panel, alongside Tristan Hydes, Deputy Chief Officer, Ministry of District Administration, Works, Lands & Agriculture and Co-Chair of the Future of Cayman “Build a Smarter Infrastructure” driver group.

Mr Swarbrick took up his post in July 2010 and has over 20 years’ experience in public auditing across a variety of sectors and working for a number of organisations. Prior to taking up his current position he was an Assistant Director of Audit with Audit Scotland.

“I am confident the Future of Cayman Forum will provide the right platform for informative and useful dialogue that will allow for better strategic planning, looking ahead,” Mr Swarbrick remarked. “By having both public and private sector representatives working together we can formulate a more comprehensive picture for the road ahead.”

Simon Conway from PwC Cayman will be moderating the session.  A Director in the Cayman Islands Advisory Team, Mr Conway works on government advisory projects, in addition to hedge fund and banking liquidations and forensic investigations. In the Cayman Islands, Mr Conway has advised the Cayman Islands Government on financing and project delivery options for major capital assets, including tourism development, high schools and the roads infrastructure.

The public-private sector Future of Cayman initiative started with the first Forum in 2010, where business leaders and top Government officials created a five-point, multi-faceted strategic focus for the economic development of the Cayman Islands, culminating in the release of the Future of Cayman Strategic Report in July 2011.  The effort not only gave shape to that future but offered detailed objectives and actions for achieving it.  Stakeholders in the public and private sectors identified five “drivers”, indispensable components of Cayman’s ongoing success. They proposed a public-private partnership to: Develop Talent, Create a Business-Friendly Climate, Diversify the Economy, Enhance the Quality of Life, and Build a Smarter Infrastructure.  More than 100 volunteers have been working diligently in various driver groups and subcommittees since 2011 to implement the objectives and action items for the five driver groups.  In October, a Future of Cayman Report Card was release, documenting the successful implementation of many of the driver group actions and demonstrating the Future of Cayman economic development initiative is achieving results and public and private sector collaboration that had been intended.

The upcoming 2012 Forum, open to the public, will include participation from senior management from both the private and public industries, focusing on just two of the original five key economic drivers – Develop Talent and Build a Smarter Infrastructure.  As well as an in-depth analysis of the two drivers, the Forum will commence with incoming Chamber of Commerce President, Chris Duggan, as well as Deputy Governor Franz Manderson.  Premier McKeeva Bush, JP, OBE, will deliver the closing address, a testament to the continued strong support the initiative has received by the Government.

Mr Manderson spoke on the importance of creating a unified front to help motivate the economy.

“Increasing global competition means the Cayman Islands must draw on the resources of both the public and private sectors to help shape its path forward. The Future of Cayman Forum is an important gathering of professionals that allows for the pooling of these resources, culminating in the creation of plans and action points to give Cayman’s economy forward momentum in a sustainable and effective manner,” he said. “As Deputy Governor, I am delighted to show my support for this important initiative.”

The Forum itself is an excellent example of public and private sectors joining together with a common focus and several businesses have shown their support for this important event, including Bodden Holdings Ltd., Cayman Contractors Association, DART, Electricity Regulatory Authority, KPMG, The Phoenix Group, and Water Authority, organisations which are all sponsoring the breakout sessions that will be focusing specifically on developing infrastructure.

In addition to these, the Future of Cayman Forum is also well supported by a series of organisations which have stepped up to the plate to become vital sponsors as well:  the Cayman Islands Chamber of Commerce, WestStar TV, Tower Marketing, Digicel Cayman, the Caymanian Compass, CDS IBM Cayman Agency, Caribbean Utilities Company, Ltd., Cayman National, and The Security Centre Limited.

The Future of Cayman 2012 Forum is a non-profit, all day, interactive event.  Registration costs CI$150 and includes conference materials and full access to a welcome breakfast, opening session and remarks, selected breakout session, lunch, coffee and networking breaks, closing session and address, cocktail reception.  For further details, sponsorship information and to register, please visit the Future of Cayman website at www.futureofcayman.com.