The Falkland Islands Development Corporation (FIDC) is responsible for encouraging the economic development of the Islands. The organisation works at national, business sector and individual levels.
At the national level, FIDC tackles important infrastructure issues. Externally, these include air access and connection to the worldwide containerised shipping network. Within the Islands, the organisation has been involved in establishing an East-West ferry link, constructing an EU-standard abattoir and setting up a meat export industry.
FIDC works closely with different economic sectors to further their interests. These activities have included employing an aquaculture specialist to explore the potential for fish farming in the Islands, appointing consultants to investigate the possibilities for expanded tourism facilities, and working with others in the Islands to add value to wool.
FIDC also supports a range of promotional and marketing initiatives such as the creation of the Falklands Wool Mark and Mark of Origin.
Finally, FIDC is a key resource for individual companies, offering business development advice and providing loans and targeted grants. The organisation can be involved in activities as diverse as advising a single individual who wants to start a new business in their spare room, to the establishment of a whole new industry, as in the case of meat exports.
FIDC was set up in 1984 in response to the recommendations of Lord Shackleton's Report and is currently funded from its own reserves and income streams, with no core input from the Falkland Islands Government (FIG). Key policy decisions are made by the Falkland Islands Development Board, which comprises representatives of each of the key economic sectors and FIG.
For further information, please visit: www.fidc.co.fk
