During 28th to 29th November InvesTT participated in the 11th Chinese Overseas Investment Fair (COIFAIR) in Beijing as part of the agency’s ongoing FDI attraction agenda.
InvesTT was represented by its Chairman, Philip Knaggs, and Vice President Investments, Sekou Alleyne. Both had a packed itinerary that included pre-event meetings with regional Chinese business associations and firms interested in setting up business in Trinidad and Tobago. Meetings were held with the major investment fund representative of the China LAC Fund and also with representatives of the Belt Road Fund (an Investment fund), senior representatives of BCEG and executives from high tech companies interested in the Trinidad and Tobago business destination offering. Investment opportunities in Maritime, Manufacturing and the Phoenix Park Industrial Estate were shared via presentations and discussions over the two day event.
“It is clear from our participation that there are many Chinese firms who have been successful in the Chinese/Asian markets and are now interested in global expansion, such as the North and Latin American markets. Transportation costs to access the Americas, is a major determining factor in the context of the price competitiveness of their products and services. In this regard, investment destinations that significantly lower market access costs while providing a sound base from which to operate would be given due consideration. Our aim is to position Trinidad and Tobago as the preferable low cost, market entry destination to achieve the global expansion goals of these companies.”
Trinidad and Tobago has a long-standing relationship with the People’s Republic of China. Indeed, the essence of this relationship is woven into the tapestry of our people with a notable proportion of our population boasting Chinese ancestry. In May 2018, the two countries signed a Memorandum of Understanding to jointly promote cooperation within the framework of the Belt and Road Initiative. Since then the Phoenix Park Industrial Estate in central Trinidad has been actively pursued as the first Belt and Road Initiative project in the Caribbean region.
Real estate opportunities available at the Phoenix Park Industrial Estate were high on the IPAs agenda. The Estate which is currently in the development phase, covers an area of 144 acres and is uniquely positioned to connect the markets of South, Central and North America with the rest of the world. It will provide sufficient production and operation sites for investors through the lease of 5 factory shells, 76 land lots for light industrial activity and 2 lots for commercial activity