Perad-Bissessar said while the Trinidad and Tobago economy suffered from the global meltdown, its impact was not as severe as many other Caribbean nations. In fact she said according to IMF projections the economy is expected to grow by about 2 per cent in 2011.
“As the most dynamic and industrialised nation in the English-speaking Caribbean, we offer investors a wealth of opportunity and ensure equal treatment as their local counterparts,” she said.
She added that greater contact between local business and those of the Commonwealth will pave the way for exploring new opportunities and production models.
“This transborder synergy would increase the regional value of production and improve competitiveness by incorporating the best of the productive capacities,” she said.
She suggested that the CIF would stimulate the exchange of ideas and approaches to common issues and foster long lasting bonds, which transcend boundaries and lay the foundation for developing solutions.
Noting that Trinidad and Tobago’s economy draws most its revenues from the energy sector, she said the economic slowdown has made it critical for the country to expand its revenue base through diversification, especially by increasing local and foreign investment in a range of non-energy sectors.
She said these include merchant marine, yachting, creative industries, fashion, film, animation, food and beverage, seafood industry, tourism, ICT, downstream energy/renewable energy.
She said Government is seeking to enhance growth in the shipbuilding and repairs sector, pointing out that the location of the country us ideally suited for repairs to ships and yachts.
She also told her audience that the Government has committed the University of Trinidad and Tobago to traing people in Digital Media and Animation. She said a degree program in the field is under consideration.
She also spoke of the food and beverage sector.
“The Industry has a long history and is very advanced in terms of technological and market development. Some of the major players are world class brands such as SM Jaleel, Angostura, KC Confectionery, National Canners, Kiss Baking, with significant export markets.”
Persad-Bissessar said the Tamana InTech Park would be the home to major technology players where groundbreaking and innovative ideas could emerge.
And she said the new TTBizLink, which is an IT platform known as a Single Electronic Window, provide a range of Government business services online, which are accessed through one single e-document.
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