Falkland Islands Development Corporation

The Falkland Islands Development Corporation (FIDC) is tasked to develop the commercial sector of the Falkland Islands by being one of the principal partners delivering the Economic, Rural and Tourism Strategies. FIDC is a quasi-autonomous government-funded body. It essentially acts as the national economic development agency for the Falkland Islands and its current objectives are as follows:

• Encourage and assist in the economic development of the Falkland Islands;
• Advise the Falkland Islands Government on the development of all sectors of business in, or associated with, the Falkland Islands, including tourism, fisheries and any other existing or proposed area of economic activity;
• Advise the Falkland Islands Government on rural development, in particular the growth of business including agriculture, and the improvement of quality of rural life;
• Advise the Falkland Islands Government on government expenditure in agriculture;
• Advise the Falkland Islands Government on such other matters relating to the economic development of the Falkland Islands as the Government may refer to the Corporation or as the Corporation may consider fit;
• Examine and advise upon proposals referred to the Corporation by the Executive Council relating to the imposition or revision of tariffs, taxes, duties, quotas or other protective or developmental measures.

 The organisation works across all levels within the islands: national, business and individual.

One of the proposed redevelopment schemes for the Stanley waterfront

At a national level the corporation leads important infrastructure initiatives including the development of a new waterfront and urban centre for Stanley to appeal to and meet the needs of residents and tourists alike.
Read more about the waterfront project here.

On a very local level an important role of FIDC is to offer business development advice, loans and grants for everything from someone who wants to start a small business from within their home to a entire new industry.

Other initiatives include the development of the rural economy, agriculture, fisheries and airlinks to open up alternate worldwide routes.

The FIDC plays a key role in attracting international investment to the islands. One such current project is to secure a private developer (or developers) to play a partner role to fund, design, build and operate 2 new, high quality lodges in two different locations in the Falklands. The hope is that this will be a joint venture between off-shore investors/operators and local partners.

FIDC also creates, distributes and analyses the results the annual Business Climate Survey.  The Survey is a key tool in shaping the FIDC Business Plan, specifically its goals and projects.  The most recent Survey was held ealier this year and the Results Report was published in April 2013.  The Results Report can be downloaded here.