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Interview

Ashley Taylor, President, Point Lisas Industrial Port Development Corporation: Interview
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Interview:Ashley Taylor What impact did foreign exchange (forex) variations have on Trinidad and Tobago’s export market? ASHLEY TAYLOR: These variations mainly stem from the challenge of foreign currency availability, which was largely brought about by the downturn in international oil prices. The issue was then exacerbated by T&T’s falling hydrocarbons production. As a result, the…
Viewpoint

Brian Hackett, Territory Senior Partner, PwC Trinidad and Tobago: Viewpoint
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Viewpoint:Brian Hackett Traditionally, T&T has generated the majority of its revenue from its once buoyant oil sector, and more recently, from natural gas. Despite recent growth in the manufacturing and non-energy sector, as well as the current administration’s attempt to curtail spending, the decline in revenue from oil and gas streams has seen successive administrations struggle to effectively…
Analysis

ICT stakeholders leverage Trinidad and Tobago's human resources

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With a young, English-speaking workforce that benefits from solid higher education and technical training infrastructure, Trinidad and Tobago is well positioned to advertise its human resources to potential investors. According to data compiled by T&T’s Central Statistical Office, in the second quarter of 2019 an estimated 37% of the population was aged 24 or younger, pointing to considerable…
Analysis

Trinidad and Tobago promotes unique island offerings to tourists

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In 2017 the government dissolved the Tourism Development Company and formed two new organisations in its place: the Tobago Tourism Agency (TTA) and the Tourism Trinidad Destination Management Company Limited (TTL). The bodies were established to promote each island as its own independent tourist destination, with Trinidad focusing on meetings, incentives, conferences and exhibitions (MICE) visitors,…
Analysis

Agricultural exports medicinal cannabis and chocolate source of foreign exchange for Trinidad and Tobago

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Alongside tourism and financial services, agro-industry is an area that holds significant potential for diversification and growth in Trinidad and Tobago’s economy. With a rich tradition of agricultural production and a climate that facilitates the cultivation of a number of cocoa hybrids, the sector has long been earmarked as a potential driver of growth. Furthermore, both raw and processed agricultural…
Analysis

Trinidad and Tobago positions itself as regional centre for liquefied natural gas bunkering

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In recent years Trinidad and Tobago’s maritime industry has witnessed changes that are sending ripples around the globe. New regulations, new technologies and changing trade volumes are altering the game, and several indicators show the country stands to benefit. A report released in August 2019 by investment firm First Citizens Research & Analytics outlined how T&T is well placed to capitalise…
Country Report

The Report: Trinidad & Tobago 2020
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The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine derived from an array of ethnicities and religions. On the back of elevated global oil prices, T&T has gone through a period of rapid economic expansion in recent decades, resulting in higher leve

Analysis

Trinidad and Tobago look to public-private partnerships to address infrastructure deficit
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While public-private partnerships (PPPs) have been used to finance projects in Trinidad and Tobago since the 1990s, the model formally gained institutional backing in 2011 with the creation of a specific policy unit, known as the PPP Unit, which operates within the Investments Division of the Ministry of Finance. Despite this, unlike other Caribbean countries such as Jamaica, T&T’s PPP framework…

Analysis

Influx of refugees spark national debate in Trinidad and Tobago
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As the political, economic and migration crisis rolls on in Venezuela, a significant number of refugees continue to make their way to Trinidad and Tobago. This had led to concerns over the possible economic consequences of the recent influx. In June 2019 the UN estimated that 40,000 people had arrived to T&T. As migrants now make up 2.9% of T&T’s population – the highest rate in the region,…

Analysis

New tax authority in Trinidad and Tobago to boost compliance and government revenues
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Following a deep recession and calls both domestically and internationally to boost financial transparency and broaden its tax base, Trinidad and Tobago has moved forward with the establishment of the T&T Revenue Authority (TTRA). While policymakers have long worked to streamline tax collection, the TTRA is the most important step taken by the government to date aimed at closing the gap between…