Trinidad and Tobago: Investment Opportunities and Public Private Partnerships

Trinidad and Tobago is so highly reputed in the oil and gas industry globally that many developing countries have been seeking the advice of local consultants, practitioners and government technocrats to assist in transferring the success of what has become known as the ‘Trinidad Model’ to their economy.  Unlike the majority of its energy-based cohorts, Trinidad and Tobago boasts of being a stable democracy with an open and consistent legislative framework which provides for transparent and accountable business transactions.  The twin-island republic has benefitted from the proceeds of oil and gas receipts and as such has a highly educated population and an enabling business environment.

Coupled with spillover effects from the highly developed energy sector, Trinidad and Tobago has differentiated itself from its Caribbean neighbours through increasing levels of entrepreneurship, efficiency, risk taking and innovation. With one of the highest growth rates and per capita income in Latin America and the Caribbean, Trinidad and Tobago is the business and financial capital of the Caribbean as well as the manufacturing power house providing the other Caribbean countries with a significant portion of their commercial and consumer products.

For many years, Trinidad and Tobago has been host to more than 400 multinational companies in the energy sector as well as in the non oil sector – banks, insurance companies, hotels, fast-food restaurants, technology providers, power generation companies and consumer goods manufacturers.  This is attributable to:

  • Geographic location at the crossroads of the Americas;
  • Access to regional and international markets through trade and investment agreements;
  • Low energy costs;
  • Educated and skilled labour force;
  • Developed infrastructure;
  • 100% ownership of locally-registered private companies; and
  • No foreign exchange controls.

The government of Trinidad and Tobago is committed to increasing this foreign direct investment stock and has embarked on several initiatives to improve the country’s productivity and competitiveness.  To this end, invesTT, a state agency under the auspices of the Ministry of Trade and Industry is dedicated to driving the growth and development of the non-oil sectors by encouraging and facilitating new investments in the following sectors: Light Manufacturing, ICT, Creative Industries, Maritime Industries, Clean Technology, as well as provide investment information in any sector outside of this remit.

As a dynamic developing nation, the government of Trinidad and Tobago has prioritized the need to develop existing infrastructure as well as improve service delivery to a standard of international benchmarks.  While there are several examples of Public Private Partnerships, these arrangements have all been informal and generated mixed successes.  Simultaneously, the government has acknowledged the special competencies and resources of the private sector and the critical role they must assume in appreciating the competitiveness of Trinidad and Tobago.  As such, a Public Private Partnership Unit under the Ministry of Finance was constituted in August 2011.  It is the intention that PPP projects in areas such as health, infrastructure and financing will synergistically contribute to government’s overall initiatives to position Trinidad and Tobago to take full advantage of investment opportunities in a sound and sustainable manner.

Trinidad and Tobago is investment ready and investment friendly.

For further information on investment opportunities in Trinidad and Tobago please contact:

invesTT Limited

Tel: 1 868 638 0038  or 1 868 675 1989