June 16, 2008

Caribbean offers opportunities for Canadian construction industry

VINCE VERSACE

staff writer

The Caribbean is not just a place for sunny vacations but also a destination of work opportunities for the Canadian construction industry, according to Export Development Canada (EDC).

Marie-Claude Erian, sector advisor, infrastructure and environment, Export Development Canada, recently spoke to the Canadian Construction Association’s International Business Committee about Caribbean infrastructure opportunities available to the construction industry. The EDC also recently held a Webinar on managing risk and capitalizing on opportunities in the Caribbean.

In the Caribbean and Latin America, the needs for new infrastructure investments exceed US$45 billion annually. The countries of focus for construction opportunities in the Caribbean are Barbados, Dominican Republic, Jamaica and Trinidad and Tobago.

“Canadians have had a presence for many years in the Caribbean which is important,” said Erian, adding that the relationships between Canada and the Caribbean are based on a long history of close commercial, investment, cultural and political ties as well as common values and institutions.

Canadian design and construction expertise together with construction supplies are a good fit for the needs of the market, said Erian. The fact so many Canadian business people enjoy vacationing in Caribbean destinations also helps provide a strong familiarity with the region.

Construction in the Caribbean is mainly driven by high-end tourism developments and requirements for improved infrastructure such as airports and roads. The larger islands have more diversified economies and varied needs as well.

Construction in Barbados has grown by 12 per cent since 2003 and there is a growing Canadian footprint in the market. The Government of Barbados is realizing the need for investment in tourism-related infrastructure. A standard building code is under development and pre-casting and prefabrication are becoming popular construction methods.

In Jamaica construction accounts for 10 per cent of its GDP and tourism projects are creating a requirement for more infrastructure construction such as port development and expansion. A few large distribution companies dominate 60 per cent of the building and construction sector. Canadian products are well regarded in Jamaica, but the market is very competitive.

The construction sector has contributed an average of five per cent of GDP over the last five years in the Dominican Republic. There are many multi-billion dollar infrastructure investments underway and cement and concrete are the predominant building structures in the country. The government is a major client for bridges, roads and aqueducts which are built by private companies.

Copper wire, iron semi-finished products, pipe and tube fitting are product opportunities for suppliers to that country.

Trinidad and Tobago is considered one of the most industrialized countries in the Caribbean. The government is expected to spend heavily on infrastructure and areas of opportunity include water recycling, waste water reuse technology and the development of solar and wind power technology. A three-year water modernization program valued at US$195 million has been implemented.

Print | Email | Comment