Author: OBG Admin

George Richani-CEO-Al Ahli Bank of Kuwait

A green paper on minerals seeks to reorganise Trinidad and Tobago’s mining sector

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The small but relatively important mining and quarrying sector makes a significant contribution to the economy. In terms of estimated recoverable reserves the largest deposits are of sand and gravel, blue limestone, plastering sand, yellow limestone, clay, porcelanite and andesite (a form of volcanic rock). In 2013 reserves were estimated at 467.1m tonnes, distributed over an area of 71.4 sq km, mainly in Trinidad (although andesite is found almost exclusively in Tobago). These materials are used principally in the construction and civil infrastructure industry. “Large infrastructure projects like the highway extension from San Fernando to Point Fortin and San Fernando to Princes Town are set

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Enhancing Trinidad and Tobago’s business climate for investors

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The government has dedicated considerable time and energy in recent years to improving the business climate for manufacturing firms and for the private sector in general. The aim is both to make the Trinidad and Tobago economy more competitive, and to attract increased inflows of foreign investment. “Three to four years ago we had no fewer than 13 separate state agencies dealing with investment, with overlapping areas of work. So in response to the need for a single agency, InvesTT was created. The idea is to make the local marketplace easier to understand,” Randall Karim, director of policy and strategy at the Ministry of Trade,

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

The Port of Spain airport is being re-envisioned as an integrated logistics hub

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Piarco International, located outside Port of Spain, has been Trinidad and Tobago’s main airport since 1931. It is the third-largest airport in the English-speaking Caribbean in terms of passenger movement, and the seventh-largest if all Caribbean countries are considered. It is currently configured as two main terminals: North and South. The South Terminal was the location of the original airport. In 2001 the North Terminal was launched and it has become the site for all major passenger services, with 29 gates served by 14 mechanical bridges. Following that, the Airports Authority of T&T (AATT) subsequently focused on the redevelopment of the South Terminal and its

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Broadband of gold: 4G coverage is set for rapid expansion

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The existing mobile operators in Trinidad and Tobago – market leader Digicel and the government majority-owned Telecommunications Services of T&T (TSTT, through its brand Bmobile) – have been rolling out 4G long-term evolution (LTE) network technology since 2012. The new infrastructure will provide increased speed and improved quality of service in broadband internet access. In addition, the regulator, the Telecommunications Authority of T&T (TATT) has offered more spectrum and a third licence. Ronald Walcott, the CEO of TSTT, told OBG, “Due to its lower cost, we foresee the roll-out of 4G LTE to all areas of the country, making broadband more affordable.” Broadband Data TATT’s

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Closing the gap: The push to improve e-government still has some way to go

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The authorities in Trinidad and Tobago are taking steps to develop the country’s potential for e-government. State agency iGovTT was established to improve public sector connectivity and promote increased online transactions in government business. iGovTT reports to the Ministry of Science and Technology, and acts both as the ministry’s implementation arm and as an ICT consulting and client-facing unit for the whole government. Ranking Slip The government closely monitors a number of international ICT performance rankings, and in 2014 the country slipped to 91st in the world in the e-Government Development Index compiled by the UN Public Administration Country Studies. This was 24 places down

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Trinidad and Tobago’s government uses programme approval to steer education towards job market needs

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After years of steady state investment, Trinidad and Tobago is reaping the benefits of increased attention to tertiary education. The student participation rate – the share of those aged 17-21 enrolled in post-secondary courses – has risen from 42% in 2010 to 65% in late 2014, compared to 2001, when it was just 7%. One key change has been the introduction in 2004 of the Government Assistance for Tuition Expenses (GATE) programme, which ensures citizens can undertake tertiary courses, including postgraduate ones, virtually for free. This is widely seen as having many social benefits. Programme Approval However, an institution’s right to offer a programme to

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Quality over quantity is being pursued as the key to success for Trinidad and Tobago’s cocoa industry

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Cocoa, along with honey, was designated as a strategic crop by the National Food Production Action Plan 2012-15 due to its “natural advantage and great potential”. Trinidad and Tobago is no stranger to the strategic importance of the cocoa bean. As far back as 1830, it was the third-largest producer of cocoa in the world, accounting for 20% of total global production. However, local production peaked in 1921 at 34,000 tonnes, followed by several decades of decline due to a combination of factors, including a

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Fine print: Protections for intellectual property rights will be increased

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In Trinidad and Tobago trademark rights are currently regulated by the provisions of the Trade Marks Act Chapter 82:81. A trademark under the act may include a device, name, signature, word, letter, numeral or any combination thereof capable of distinguishing the goods or services of the proprietor from that of another proprietor or competitor. The List Registration of a mark confers numerous benefits on its proprietor. The registered proprietor of a trademark under the act has the exclusive right to use that mark in relation to the particular goods or services and the right to prevent unauthorised third parties from using that mark or a

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Opening up: Renewable energy has enjoyed its most productive year to date

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Forces coalesced in 2014 to grant the Philippines’ renewable energy industry its most productive year to date. Spurred on by mounting concerns over the looming energy shortfall, the Energy Regulatory Commission (ERC) has opened the sector to investment by boosting the renewable capacity approved for the renewable energy incentive scheme ten-fold in many cases. However, with solar, wind, biomass and small hydro contributing only 153 MW of installed capacity at end-2013, further investment will be needed to achieve the government’s target of 15,304 MW of by 2030. As Ernesto B Pantangco, executive vice-president of the Energy Development Corporation, told OBG, “The energy sector does not

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Power outage: Generation capacity has not kept pace with economic growth, leading to potential shortfalls

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As the economy has continued its robust growth over the past decade, and spending among the expanding middle class has increased, demand for electricity has risen accordingly. However, while sales have gone up by an annual average of 3.89% from 2001-13, according to the Department of Energy (DoE), power generation capacity growth has lagged far behind, at 2.2%. CAPACITY CONCERNS: Taking into account DoE assumptions of electricity demand-to-economy elasticity in Luzon of 0.6, the country’s GDP growth rates of 6.8% in 2012 and 7.2% in