All statutory bodies are required to adhere to the provisions of the Integrity in Public Life Act No. 24 of 2013.
In this regard, the Grenada Investment Development Corporation (GIDC) has recently adopted the following three (3) polices:-
- Anti-Bribery and Corruption: which is aimed at protecting GIDC’s reputation and its operations from bribery and corrupt practices as well as provide guidance on the action that should be taken by GIDC personnel when they suspect bribery and corruption.
- Anti-Fraud: The intent of this policy is to prevent and deter fraud from occurring within operations. It is aimed at but not restricted to:
- Protecting the corporation’s valuable resources from fraud and loss as well as outline the internal control systems for reporting and monitoring instances of fraud.
- Conflict of Interest: This policy is aimed at ensuring that GIDC and its personnel conduct operations in an impartial, ethical, open, and unbiased manner. Its intent also includes but is not limited to:
- Removing any perception of bias within operations
- Providing clear direction on managing real, apparent or potential Conflict of Interest (COI)
- Establishing control mechanisms to manage COI.
These policies are expected to take effect from November 30, 2018. They will be applicable to all GIDC personnel including its Board of Directors, third parties, and all activities undertaken by GIDC which comprises projects being implemented as well as foreign and domestic operations.
The adoption of these policies will assist the corporation in being compliant with all applicable laws and regulations.
About Grenada Investment Development Corporation (GIDC)
GIDC was established on March 1, 1985. The Corporation’s strategic goal is to promote local and foreign investment as well as facilitate and strengthen entrepreneurial development within the priority growth sectors of Grenada’s economy: agri-business, tourism, health & wellness, ICT, and energy. Core activities include Investment Promotion, Investment Facilitation and Business Support Services.
GIDC also operates the Frequente Business Park, St George, the Seamoon Industrial Park, St Andrew and a Business Centre in St Patrick. Combined rental space totals 294,385 square feet.
