The Report: Trinidad & Tobago 2015 was launched at a roundtable event held at the Hilton Trinidad Hotel in Port of Spain on August 6th. Keynote speakers at the event included the Minister of Trade, Industry, Investment and Communications Vasant Bharath. He was also interviewed in The Report: Trinidad and Tobago 2015, alongside many other personalities, including the Minister of Energy and Energy Affairs Kevin Ramnarine, the Minister of Finance and the Economy Larry Howai, the Colombian Minister of Trade, Industry and Tourism Cecilia Álvarez-Correa and the Regional President of BP Trinidad and Tobago Norman Christie.
The Report: Trinidad and Tobago 2015 shines a spotlight on the country’s hydrocarbons sector which, while weighed down by lower energy prices, is expected to return to growth in 2016. The country’s tourism industry is also analysed, including plans for boosting visitor numbers. OBG’s report maps out the country’s push to develop niche markets and promote key events, such as Carnival festivities.
Speaking ahead of the launch, OBG’s Deputy Editor-in-Chief Oliver Cornock said that while lower hydrocarbon prices would inevitably impact Trinidad and Tobago’s economy, they looked likely to act as a catalyst for the ongoing economic reform process.
“This year looks set to be characterised by two key factors - the election and energy prices. The outcome of the first will send an important message to foreign investors and how the all-important issue of lower hydrocarbon incomes is managed will be equally critical,” he said. “Increasing economic diversification, reducing inefficiencies and enhancing the country’s skill sets are all key policy focuses that should help the economy continue its growth trajectory.”
Joseph Kissick, OBG’s Regional Editor for Latin America and the Caribbean added that the Group’s first report on Trinidad and Tobago was timely, given the significant economic development on the horizon. “Our research highlighted Trinidad and Tobago’s strong fundamentals and ongoing efforts to facilitate business start-ups,” he said. “With recent infrastructure upgrades and fiscal incentives now expected to unlock opportunities for decentralised industrial development, we look forward to continuing our analysis of what the medium-to-long-term future holds for this key regional market.”
The Report: Trinidad and Tobago 2015 marks the culmination of more than six months of field research by a team of analysts from OBG. The publication assesses key trends across the economy, including macroeconomics, infrastructure, banking and other sectoral developments. The publication is available in print or online.