Cayman Enterprise City Receives Two Prestigious Awards From The Financial Times’ Fdi Intelligence Global Free Zones Of The Year 2024

(MENAFN- GlobeNewsWire - Nasdaq) Highly Commended in Americas for Knowledge Zones and Honourable Mention for Higher Education Initiatives

GEORGE TOWN, Cayman Islands, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Cayman Enterprise City (CEC) has been recognised with two prestigious awards by fDi Intelligence, a division of the financial Times, as part of its 2024 Global Free Zones of the Year Awards. CEC was highly commended in the Americas under the new Knowledge Zones category and received an honourable mention for its contributions to higher education and workforce development .

This marks the seventh consecutive year that the Cayman Islands special economic zones (SEZs) operated by CEC have been awarded by the Financial Times. These long-standing awards spotlight the growing success of CEC's SEZs which continue to play a pivotal role in advancing Cayman's innovation-driven economy. The highly competitive fDi awards, evaluated by a global judging panel, recognise free zones that excel in creating value for their regions, with a focus on sectors such as technology, business services, and financial services.

CEC's recognition in the Knowledge Zones category is particularly notable for its efforts to create a vibrant, tech-focused ecosystem in close proximity to major North American markets. The panel praised CEC for its streamlined immigration and business support services, which have attracted a diverse range of industries including legal tech, decentralised finance, and precious metals.

Education remains a cornerstone of CEC's mission. In 2023 alone, more than 4,200 Caymanians and residents participated in education and career development opportunities offered through CEC's non-profit arm, Enterprise Cayman . The zone has also supported the creation of 41 new Cayman-born businesses projects, emphasising its commitment to fostering entrepreneurship within the Cayman Islands.

As part of CEC's workforce development initiatives, Enterprise Cayman, focuses on bridging the education and earnings gap for Caymanians. This commitment to higher education and skills training earned CEC an honourable mention in this year's awards. Danielle Myles of fDi Intelligence stated,“[CEC's] non-profit Enterprise Cayman is working to close the education and earnings gap for Caymanians by offering training, internships, mentoring, networking, and career-focused training.”

CEC's Chief Executive Officer, Charlie Kirkconnell, commented on the award wins, saying,“We are incredibly proud to be recognised once again by fDi Intelligence. These awards are a testament to the hard work of our team and the thriving community of global businesses that have chosen CEC as their home. Our focus on innovation and education continues to drive our success, and we remain committed to helping our members and the Cayman Islands achieve even greater heights.”

CEC, now home to over 380 companies, provides a comprehensive business support program, offering cost-effective operations, tailored work environments, and streamlined processes that make it one of the most attractive destinations for foreign direct investment (FDI) in the region. The recognition by fDi Intelligence further cements CEC's role as a key driver of economic diversification and growth in the Cayman Islands.

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About Cayman Enterprise City

Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones focused on attracting knowledge-based and specialised-services businesses to set up a physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.

About Enterprise Cayman

Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands' special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let's grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!

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