Panday says T&T must fix crime problem in order to attract investment

Opposition Leader Basdeo Panday doesn't share the view expressed by Prime Minister Patrick Manning that the Commonwealth Heads of Government Meeting (CHOGM) would result in a rush for new investment in Trinidad and Tobago.

Manning has said the CHOGM and the previous Summit of the Americas held in April would open up the country to new investment and that the money spent to host the conferences must be seen in that context.

But Panday told reporters Monday that argument is not valid because investors need a secure environment and unless the government makes a serious attempt to deal with crime the country won't see the result Manning expects.

"I don’t think merely having a showcase like this attracts investment. What attracts investment is the investment conditions in your country," the former prime minister said.

He noted that soon after his government hosted the Miss Universe pageant in 1999, there was a surge in tourist arrivals. But there was reversal when the Manning administration took office.

He described the CHOGM as a useful talk shop, adding there was nothing wrong with leaders meeting to talk about international business.

Panday said the opposition never objected to hosting such a conference but rather the way the Manning government determined its priorities.

"We have held two large conferences and we’ve spent, I don’t know how many billions of dollars, and people still don’t have water to drink and their roads need to be repaired. They suffer from flooding and there are no beds at the hospitals," he explained.