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Setting up a business in Trinidad and Tobago is quite straight forward.
The Government of the Republic of Trinidad & Tobago (GORTT) encourages foreign direct investment in almost all sectors, with specific focus on the non-energy targeted sectors.
Trinidad and Tobago's success in energy has fueled its rapid development into one of the most industrialized and cost-effective nations in the Caribbean and Central America.
Trinidad and Tobago is a twin island republic situated below the hurricane belt, at the southern-most end of the Caribbean archipelago.
Edan K. Properties manages many complex projects - from purchase to conceptualization, financing and site development. In its role as facilitator, InvesTT has worked alongside Edan K. and played a significant role over the years in the fast-tracking of processes required to implement multi-faceted development projects.
InvesTT facilitated company registration and access to import duty concessions for equipment, engaged the Ministry of Energy & Energy Industries on the placement and inspection of their LPG tanks as well as facilitated smooth entry at Immigration for foreign engineers needed to install equipment and train local staff.
Located in St. Augustine Trinidad, Virtana Inc. is an outsourcing company that delivers high quality robotics software solutions to international technology companies, utilizing engineering graduates based in Trinidad and Tobago.
Upscaling Opportunities at the Moruga Park
The cottage industry has been an integral element of the economic fabric of Trinidad and Tobago. It is characterized by small scale operations usually managed by family members from a homebased establishment. Such operations however are limited in their capacity to mass produce which can negatively impact competitiveness in terms of satisfying increasing demand. While some small scale operations are best suited to maintain that authentic handcrafted status, others can benefit from upscaling operations to take advantage of increasing demand and market expansion opportunities.
The park, built on roughly 18 acres of state land at Saunders Trace, Moruga in south Trinidad, comprises five (5) built factory shells and six (6) available land lots. The factory shells are product specific and have been developed to facilitate processing and manufacturing of produce and products in the areas of fruit, root crop, cocoa and pepper. Each factory unit is outfitted with office space, kitchenette, meeting rooms, bathrooms and assigned parking space. Tenants will be responsible for acquisition and installation of the required machinery and technology for their individual operations. Land lots are all pre-cleared of heavy vegetation, leveled and offered with ready connectivity to all utilities.
In keeping with sustainable economic development coupled with the pursuit of reducing the food importation bill, the operational expansion of small food and beverage producers will provide impetus for sustainable agricultural development as agro-producers work to satisfy the increased local demand for raw produce. Products that have been highlighted as a key focus for the Park include those derived from cocoa processing and chocolate production. With advances in manufacturing technology and global health trends, different ways of processing, preserving and packaging fruits such as pineapple and papaya have been brought to the forefront as viable options for the park.
The development, continued tenanting and operation of the Park is a collaborative effort among a number of state agencies each with responsibility for a specific aspect in the Park’s development.
Construction of the Park was done by the Urban Development Company of Trinidad and Tobago while the management of the Park and administration of lease agreements for the facilities is the responsibility of Evolving TecKnologies and Enterprise Development Co. Ltd. (e TecK).
InvesTT Limited as the national Investment Promotion Agency will provide facilitation services to prospective and successful tenants. Services provided by InvesTT will include assisting with acquisition of the relevant regulatory approvals and facilitating contact with supporting agencies such as The National Agricultural Marketing and Development Corporation (NAMDEVCO), Agricultural Development Bank of Trinidad and Tobago (ADB), Inter-American Institute for Cooperation on Agriculture (IICA) Trinidad and Tobago Delegation and Caribbean Industrial Research Institute (CARIRI).
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