Tourism, construction, agro-business and textiles show huge potential for profit on the impoverished island, where some 170,000 people were killed and one million left homeless by the January 12 earthquake, the forum was told. "The Forum has done everything it can to persuade companies to donate, but also to commit themselves over the long-term," said Canadian Robert Greenhill, WEF director general.
"We want to interest as many big global businesses as possible for viable opportunities," he added at the Davos meeting, which gathers some 2,500 business and political leaders. A Haiti stand was set up in the middle of the snow-shrouded concrete Kongresshaus conference centre where the annual blue chip meeting ended this weekend, to allow business chiefs to find out more.
Dozens of companies were put in contact with the Inter-American Development Bank (IADB), said Greenhill, who had just come out of a meeting with some 20 corporate bosses. "There have been some very interesting responses. But we have to be persistent, not naive... for example we can't talk about textiles if we don't talk about insurance, infrastructure and security institutions.
"We have to put this integrated and comprehensive approach within 12 months. As soon as essential humanitarian activities are over, perhaps the private sector can move in," he added. Clinton underlined the need to help develop the two thirds of Haiti not directly impacted by the quake, notably to allow tourism. UN agencies have called for infrastructure investment, as well as hospitals.
Even before the earthquake, the Haiti government had drawn up a UN-backed development plan last year following hurricane damage the previous year. Clinton travelled to Port-au-Prince last October with some 200 business chiefs. Briton Paul Collier, an economics professor at Oxford University who specialises in fragile states, said the earthquake - and the international attention it galvanises - might actually trigger progress in the longer term.
"The response to the earthquake can potentially be a transformative shock," he said. While acknowledging Haiti's weak administration, chronic insecurity and widespread corruption, he said: "By the standards of failing states the cost of transforming Haiti will not be massive: this is not Afghanistan." Haiti is located next door to the world's biggest market, in a generally peaceful region and with relief from customs duties and quotas in the United States, he noted.
Collier called for "exporting zones" to be set up in Haiti, with clusters of businesses enjoying reliable power supplies and export arrangements. Textile companies in particular could benefit. "From the important perspective of market access Haiti is now the world's safest production location for garments," he said, adding that Haiti has labour costs "that are fully competitive with China."
Other development opportunities include mango plantations - which would help fight deforestation - or other agro-food business ventures targeting the export market. But much depends on funding to help Haitians get a foot on the first rung of the business ladder. "Haiti has a chronic need for risk capital that is sufficiently patient to enable some firms to be first-movers," said Collier.