Trinidad and Tobago

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Trinidad and Tobago

• The place for business

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Fast Facts Trinidad and Tobago
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Key Economic Indicators
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Fast Facts Trinidad and Tobago

• Trinidad is heavily industrialized, whereas
  Tobago depends more on tourism and agriculture.
• Trinidad and Tobago is classified as an upper
  middle income country in the World Development
  Report of the World Bank.
• Trinidad and Tobagos issuer credit rating with
  respect to local currency is currently
  A/Stable/A- and A-/Stable/A-2 for foreign
  currency as assigned by Standard and Poors. This
  investment grade rating is reflective of the
  countrys solid economic performance.
• Trinidad and Tobago the country is now ranked
  54th in the Human Development Index.

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Fast Facts Trinidad and Tobago

• Economic growth has averaged between 3.2 and
  5.5 per annum since 2002 and is continuously
  rising.
• Energy, continues to dominate the economy.
  However, many local and foreign investors are
  seeking to diversify and expand the non-energy
  sector in the country.

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Political Situation

• The executive Branch of the Government is made up
  of the Cabinet Ministers who serve as the
  political heads of the Ministries.
• The administrative heads are the Permanent
  Secretaries.
• Through the Tobago House of Assembly, the island
  of Tobago enjoys a certain degree of autonomy,
  which recognizes its separate history, culture,
  and identity, and its much longer experience of
  representative institutions than the island of
  Trinidad.

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Trinidad and Tobagos Economic Development Agenda

• Build the Competitiveness of the Economy
• Diversify the Economy via the expansion of the
  Non-energy sector
• Position TT as the Financial, Manufacturing and
  Transportation Centre of the Region
• Enabling Legislation and Trade Agreements
• Integration into the Latin American Economy

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Gateway to Latin America and beyond
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Focus on economic diversification

• Trinidad and Tobago, is moving towards the status
  of a developed country. There are currently
  several industries that have been identified for
  development
• Music and Entertainment
• Film
• Merchant Marine
• Yachting and Leisure Marine
• Food and Beverage
• Fishing and Fish Processing
• Printing and Packaging
• Industrial Estates Development
• Plastics and Downstream Petrochemicals
• Information and Communication Technology (ICT)

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Investing in Trinidad and Tobago

• The Government of Trinidad Tobago (GOTT)
  encourages foreign direct investment in almost
  all sectors.
• Foreign ownership of companies is permitted and
  welcomed under the Foreign Investment Act (1990).
  
• Generally, there are no restrictions or
  disincentives to investment.
• The Heritage Foundation Index of Economic Freedom
  Index for 2007 ranks Trinidad Tobago fourth in
  the Americas and 29 worldwide out of 160
  countries.

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Competitive Advantages Trade Agreements

• Economic Partnership Agreement EU/CARICOM
• CARICOM Single Market Economy (CSME)
• 15 member countries including Trinidad and
  Tobago
• Free movement of goods, services, people and
  capital throughout CARICOM without tariffs and
  restrictions
• Ongoing discussions with MERCOSUR
• CBI - Caribbean Basin Trade Partnership Act
  (CBTPA)
• CARICOM Countries / USA

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Competitive Advantages Trade Agreements

• CARIBCAN - CARICOM Countries / Canada
• CARICOM / Costa Rica Free Trade Agreement
• CARICOM / Colombia Agreement on Trade, Economic
  Technical Co-operation
• CARICOM / Cuba Trade Economic Co-operation
  Agreement
• CARICOM / Dominican Republic Free Trade Agreement
• CARICOM / Venezuela Trade Investment Agreement

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Investor friendly environment

• Foreign Investment Act
• 100 foreign owned private company
• 30 cumulative shareholding in a public company
• Fiscal Incentives Act Approved Enterprise
• Customs Act Customs Duty Exemption
• Tourism Development Act Tax Holidays
• Free Zones Act Withholding tax exemptions

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Investor friendly environment

• Repatriation of Funds
• Arbitration
• Bilateral Investment Treaties Double Taxation
  Treaties
• No negative lists, quotas, surcharges and stamp
  duties
• No Price or Foreign Exchange Controls

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Investor friendly environment

• Nationals and non-nationals are generally treated
  equally with respect to obtaining licenses.
• Environmental approval for large industrial
  projects can be time consuming, and many projects
  begin with only outline approval.