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Recap of KPMG's Infrastructure Summit 2017

Recap of KPMG's Infrastructure Summit 2017

The Forum focused on the development of essential infrastructure in Bermuda, the Bahamas and the Caribbean.

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The Caribbean Infrastructure Forum (CARIF 2017) was held on December 11 and 12, 2017 in Montego Bay Jamaica. The Forum, which focuses on the development of essential infrastructure in Bermuda, the Bahamas and the Caribbean, covered a broad spectrum of energy, water, ports, health care and tourism infrastructure issues.  

Among the speakers at the event, Premier and Minister of Finance the Hon. David Burt, JP, MP and Premier of the Turks and Caicos Islands, the Hon. Sharlene Cartwright-Robinson discussed the importance of developing infrastructure within the context of a national plan. Steve Beatty, KPMG’s Global Head of Infrastructure moderated the Heads of Government panel at the Forum. The panel discussed the social, economic and political challenges island governments face in relation to infrastructure development.

Mr. Michael Lee-Chin, Chairman of Portland Private Equity, gave the key note speech on day two of CARIF 2017. Portland PE is a shareholder in the National Commercial of Jamaica, which recently announced its intention to acquire a majority shareholding in Clarien Bank. Lee-Chin spoke passionately of the opportunities to attract inward investment in the Caribbean region; sharing with delegates the attributes that make many islands ripe for investment: the gap between perception and reality, the potential to create efficiencies, and scarcity of capital.

Mr. Mike Morrison, CEO of KPMG commented “I found the Forum informative. KPMG’s sponsorship is one element of our commitment to supporting the public sector. I was pleased that there were over twenty Bermuda delegates from the public and private sectors.” Morrison stated, “CARIF 2017 attracted thought leaders from governments, finance, and infrastructure to discuss areas of common interest including financing, transparency and enablers to infrastructure development. In addition to Premier Burt, Lt. Col. the Hon. David Burch, OBE (Mil), ED, JP, MP participated in the panel on water and wastewater infrastructure.”  Additionally, Mr. Lester Nelson, CEO of the Bermuda AirportAuthority and Ms. Tawanna Wedderburn CEO of the Bermuda Health Council also participated on Forum Panels.

Ms. Lori Rockhead, KPMG’s Public Sector and Infrastructure lead, participated in the panel on creating value through leading practice procurement. The panel included Ms. Denise Arana, General Manager of the PPP and Privatization Unit of the Development Bank of Jamaica and Mr. James Campbell, Director, PPP contract Management at the Bermuda Airport Authority. The panelists shared their views on how leading procurement practice can be a powerful tool for governments. Rockhead stated, “Applying leading practice
to procurement doesn’t just accomplish the obvious goal of value for money, but when procurement is done well it can encourage inward investment and economic growth.”

Morrison concluded by saying, “KPMG collaborated with Infrastructure Journal, New Energy Events, and CIBC to sponsor the CARIF 2017. The response from delegates including the Bermuda public sector officials who participated and attended as delegates was tremendous. In the past decade, KPMG has witnessed considerable maturity in the use of project finance throughout the islands region and we are proud of our contribution to knowledge building.” 

Infrastructure Forum Photos:

© 2018 KPMG, a group of Bermuda limited liability companies which are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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