Sharing best practices between Chile and Haiti
for Strengthening the National Public Investment System
On November 17th through the 21st, a Haitian Government’s delegation from the Ministries of Economy and Finance (MEF) and International Cooperation Planning (MICP) met with Chile’s Ministries of Finance and Social Development to exchange best practices, within the framework of a CT/Intra from the Inter-American Development Bank (IDB), to improve Haiti’s National Public Investment System (NPIS).
This meeting, part of the project called “Promotion of the Private Sector through Promoting Investments”, was organized by the IDB, the Social Investments Division of Chile’s Ministry of Social Development and the Chilean Agency for International Cooperation, with the participation of the Budget Directorate of the Finance Ministry of Haiti, professionals and Haitian officials. Pierre Erold Etienne, Director General of the MEF, led the week long internship with the goal of exploring methods and best practices of Chile’s NPIS for application in Haiti. According to Haitian authorities, what was learned in Chile contributes to thinking of ways to improve the regulatory and legal framework but, above all, to the establishment of funds’ management that should permit improvement of the conditions of the population in their country.
The Chilean government’s commitment to Haiti is to continue cooperating in this matter in alliance with the IDB. This commitment was countersigned to the Haitian authorities by Heidi Berner, Deputy Secretary of Social Investment of the Ministry of Social Development, and Alejandro Micco, Deputy Secretary of the Ministry of Finance. The Chilean model will serve as inspiration towards improving the definition of short term roles and the responsibilities of the participating Haitian institutions, as well as for the design of a roadmap to develop an action plan geared towards the modernization of the Haitian NPIS.
Advantages for Haiti’s private sector though the modernization of NPIS:
- A modernized NPIS in Haiti will offer as a possibility the development of Public-Private Alliances, that would mean public investments with private support, generating new infrastructures and social protection policies to benefit the whole of the population.
- The planning, evaluation, analysis and monitoring of public investments, in addition to impacting the social wellbeing of the population, favor the development of private initiatives, reducing risks and generating trustworthy information for the development of entrepreneurial initiatives.
- Improved use of scarce public resources, identifying and executing public investments that leverage private investments as an engine of economic growth.
What benefits in attracting direct foreign investment will Haiti realize with the improvement to NPIS?
Having an efficient and effective NPIS in the management of pubic resources favors the attraction of direct foreign investment. Improving this system will yield a series of benefits to the country:
- Generating new ways to attract direct foreign investment in Haiti, in strategic alliance with the State for projects in Public-Private Partnership mode.
- Increasing foreign investor confidence in the country, as well as that of local investors, in the productive development of their entrepreneurial projects, by improving the context wherein their investment develops and by reducing the risks associated with said investments.
In conclusion, continued collaboration between the governments of Chile and Haiti in a strategic alliance with the IDB, will produce an impact on economic growth, improve investor confidence and, therefore, facilitate attracting direct foreign investment.