FALKLAND ISLANDS DEVELOPMENT CORPORATION
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 is working hard to establish an East-West ferry link and has invested £5m to create from scratch a world-class 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 including the Falkland Islands internet portal at
and 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 its annual budget of approximately £1m is funded by 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.
FALKLAND ISLANDS MEAT COMPANY
The Falkland Islands Meat Company (FIMCo) was established to give wool farmers an opportunity to diversify into meat production as well as traditional wool farming.
Located outside Stanley, the Sand Bay abattoir is an EU accredited export meat plant (designation FK-01), commissioned and approved for mutton and lamb exports in 2002 and beef in 2008. Meat is produced to the highest standards, monitored using HACCP and company Quality Control checks, which are carried out continuously during production.
Since its first year of export production in 2003, FIMCo has seen its customer base expand into seven countries – UK, France, Spain, Sweden, Germany, Malta and Chile. In 2005 FIMCo entered the local market, providing a reliable supply of quality meat to domestic customers.
Sheep in the Falklands live in wide open paddocks and hillsides, feeding on native coastal tussac, greens and vast ‘white grass’ pastures. Livestock is transported directly from farms in approved livestock trucks, and on arrival are rested in the purpose built lairage facility. This practice, combined with a computerised tracking system within the plant, offers 100% traceability of FIMCo products.
The result is a delicious, high quality product, which has been raised in a clean, pure environment, and processed to international standards.
PRIVATE AND PUBLIC SECTOR
Although FIG remains the largest employer with a workforce of some 600 people, there is a growing private sector supporting industries such as fisheries, tourism and infrastructure development as well as business services and shops. Business is represented collectively by the Falkland Islands Chamber of Commerce: