Global Free Zones of the Year Awards by fDi Magazine recognizes Cayman Enterprise City two years in a row

GEORGE TOWN, GRAND CAYMAN, 20 November 2019 – Cayman Enterprise City (CEC) has once again been recognised with Global Free Zones of the Year Awards by the Financial Times' fDi Magazine. Awarded annually, the distinctions recognise and honour the top free zones in the world.

fDi Magazine is the world's leader in comprehensive services related to foreign direct investment. With over 85 free zones from around the world considered in this year's awards, CEC was awarded six Bespoke Awards in a variety of categories that are critical to improving and growing Cayman's thriving special economic zones:

" Bespoke Award for Expansions

" Bespoke Award for Facilities Upgrades

" Bespoke Award for Red Tape Reduction

" Bespoke Award for Skills Development

" Bespoke Award for Diversity Initiatives

" Bespoke Award for Development of Technology

"We are honoured to receive six globally recognised awards for our efforts to become a home for innovation and centre of excellence where global business thrives," explained Charlie Kirkconnell, CEC's Chief Executive Officer. "We are particularly honoured to receive bespoke awards for our skills development and diversity initiatives, which are designed to ensure that everyone has access to quality learning experiences and opportunities to pursue dynamic careers available within our growing special economic zones."

Since its establishment in 2011, CEC has grown to include 250 special economic zone companies. With a focus on three zones – Cayman Tech City, Cayman Commodities & Derivatives City, and Cayman Maritime & Aviation City – CEC has achieved significant annual growth since its launch in 2012.

Receiving the Bespoke Award for Red Tape Reduction is no doubt in part due to the comprehensive support system implemented by CEC to ease the setup and transition of companies and their employees in their move to the Cayman Islands. From outfitting an office and using the free CEC job portal to find local staff, to connecting with service professionals including real estate agents, car dealers, and telecommunications and much more, CEC provides access to a trusted network to ensure companies don't make the move alone.

"We know that moving to a new country can be a daunting task, having personally gone through the process. With this in mind, CEC and the Client Experience team work tirelessly to ensure that our clients are looked after, have our full support as they navigate through the application process, and settle comfortably into life in the Cayman Islands," said Ben Connelly CEC's Client Experience Manager. "Even after the application forms are complete and the offices spaces are ready for their new occupants, our team is in constant contact and remains in a supportive role to help SEZ companies grow."

CEC's commitment to helping SEZ companies grow was recognised with the Bespoke Award for Expansions. This commitment can be seen in companies like Maples Technology SEZC, which started with a team of three developers in 2012 and has grown to include 39 employees. The company recently took on more office space with the goal to grow their team to nearly 70 in the next two years. CEC is in the process of fitting, furnishing and upgrading their current space which includes an investment from CEC of over USD $400,000.

The Bespoke Award for Facilities Upgrades and Expansions where given to CEC in recognition for their world-class turnkey office spaces and master-planned development design that will put the Cayman Islands at the forefront of the global technology-driven business world. Construction began last year with the official groundbreaking in November 2018 of the 53-acre mixed-use USD $38 million development. Featuring one-million square feet of office space, residences, restaurants and state-of-the-art amenities, the CEC campus will create new job opportunities for Caymanians and further diversify Cayman's economy.

"The master-planned campus will showcase environmental architecture and designs to encourage socialisation and collaboration unlike anything seen in the Caribbean," said CEC's Chief Executive Officer, Charlie Kirkconnell. "This is perhaps CEC's most significant milestone since opening for business in February 2012. We have worked tirelessly to promote CEC and the Cayman Islands as an ideal base for conducting international business, as well as to support businesses that have established zone companies, so that they can focus on growth and innovation."

"The real major contribution is the potential that this campus offers to our Islands when it is completed and filled with exciting and thriving new businesses. This campus, and the businesses that it will draw to our shores, is an important part of helping to diversify our economy," stated the Premier of the Cayman Islands, Hon. Alden McLaughlin.