Monday, July 06, 2015
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  • Industrial Regeneration Fishing off Falklands Waters
  • Going the extra mile Infrastructure
  • Building for the next generation Town Expansion
  • Assisting with ... Settlement Regeneration

Falkland Islands Development Corporation

fidclogotrans1We, the Falkland Islands Development Corporation (FIDC), are a quasi-autonomous government-funded body. In 2013 a new FIDC Ordinance was drafted which was implemented on the 1st July 2015. The Ordinance defines the future purpose of FIDC as follows:

  • To advise on and implement the economic strategies of the Falkland Islands Government;
  • To take what further steps are required to ensure the successful development of businesses and a positive business environment in the Falklanland Islands

We work across all levels within the islands - national, business and individual - and are mission is to facilitate and support the Falkland Island's business community, in partnership,  in order to maximise the economic potential of emerging and existing industries.

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Stanley Businesses

Stanley is the capital and commercial hub of the Falkland Islands. 73% of respondents to the Business Climate Survey 2014 were based in Stanley. In January 2012 we launched a subsidiary company in Stanley to provide legal services in the Falkland Islands. The lack of legal services had been previously identified as an issue and we looked to solve this by providing an additional service. The company, Falkland Islands Legal Services (FILS), was initially underwritten by us, but has now successfully made the transition to becoming an independent, commercially viable, private enterprise.Stanley-Falkland-Islands

Camp Businesses

Rural Development forms a significant proportion of our focus, due to the industries outside of Stanley, known locally as 'Camp', being central to the economy of the Falklands. The two primary industries in Camp are agriculture and tourism, with the former contributing c.£2.7 million per annum to GDP. In order to improve rural businesses, and reduce the reliance on imports, we established an Import Substitution Programme. The programme offers grants and loans to assist businesses interested in establishing and/or expanding production of locally consumed goods.Camp Business

LATEST NEWS

The Rural Development Strategy (RDS) and Falkland Islands Development Corporation (FIDC) are carrying out an Energy Survey to gain an understanding about what is installed across the Falkland Islands, feedback on how they work and what could be done in the future. This information will be used to aid a review of the energy grants administered by FIDC.

The Energy Survey 2015 can be completed by clicking here

The Energy Survey closing date from submissions is Friday 17th July 2015.

Or you can obtain an electronic or hard copy from FIDC. For more information or a copy of the survey, please contact the Rural Energy Advisor, Andrew Crighton on telephone 27211 or email This email address is being protected from spambots. You need JavaScript enabled to view it.


Waterfront Presentation

A public presentation on the Waterfront Development project will be held on the 17th June 2015 at 5.30pm in the Chamber of Commerce.  Members of the public are invited to attend.  The presentation will be followed with a question and answer session.

 

 

 

 

 

The Waterfront

As Project Coordinators' we are currently organising and managing a Waterfront Development Plan.wficon

Rural Energy

windturbine

 The Rural Development Strategy (RDS) is committed to improving the lives of people living in the countryside (or camp as it is known). One of the ways in which this is done is through improving the energy systems currently available in camp.

Andrew Crighton, FIDC’s Rural energy advisor, started work with the corporation in March 2015 and has since been on a number of visits to settlements in camp in order to discuss ways in which issues regarding energy can be resolved and energy systems updated.

FIDC currently offer a Rural Energy Grant scheme, which can be used to provide 24 hour power for settlements in camp.   Household insulation Grant scheme and a  Domestic Energy Improvement Grant are also available to Stanley residents as well. For more information regarding these grant schemes or if you have any questions regarding rural energy within the Falklands then get in touch with Andrew by emailing him at This email address is being protected from spambots. You need JavaScript enabled to view it.

More about Rural Energy

Oil & Gas Development

Falklands Oil

The Falklands economy continues to be bolstered by the emerging oil and gas industry, with exploration activities on-going and the increasing prospect of future production. With oil production expected to begin between 2016 and 2018, local businesses are looking to capitalise on the opportunities arising from the build-up to production. Our 2012 Business Climate Survey identified that only 1% of businesses currently operate primarily in the Oil and Gas service, illustrating considerable prospects for future development.

Here at FIDC we have been developing a support scheme which can assist local businesses to become involved in the Oil & Gas industry. Approved by FIDB on the 14th February 2014, the scheme assists local businesses in acquiring oil and gas relevant certification by providing a grant up to 50% or up to a maximum of £15,000 of the total cost.

More about the Oil & Gas Development Project

Entrepreneurship

FIDC Enterprise Logo

At FIDC we believe that promoting and assisting enterprise is crucial to ensuring future economic development in the Falkland Islands.

The Youth Entrepreneurship Scheme (YES) is an FIDC project that aims to develop the business capacity of the Falkland Islands population. This initiative looks to aid and promote sustainable business development within the local community, including the creation of new businesses and assisting the renewal of existing businesses

Following on from research and consultations with local entrepreneurs and key stakeholders, proposals for the establishment of a business mentoring program, the creation of an enterprise publication and the updating of the FIDC website to assist the YES project were approved by FIDB. YES aims to educate young people, and the public more generally, about business, economics and free enterprise. Through the assessment of the current business environment the YES project can assist current and future entrepreneurs in maximising the economic potential in the Falklands.

More about the YES Project