Mr. Alleyne moderated the virtual launch of the FDI Stimulator Network on 29th April, 2020 with selected participants from the identified industries. He highlighted several participant benefits including:
- Opportunities for increased revenues for local suppliers
- Local business partnerships or joint ventures with foreign investors
- Access to new international markets
- Transfer of technology and skills to local businesses
Alleyne emphasized that the prioritized industries were initially identified from sector reviews conducted internally by InvesTT, which involved the application of a global trend analysis of FDI inflows to selected national priority sectors:
“Case studies of specific investment projects in each sector were reviewed to identify the investors’ decision-making factors and requirements during their site selection process. The agency also compared Trinidad and Tobago’s investment offerings and attributes with those of the Caribbean and Central American region with a view to determining the best areas of national advantage that would be attractive to investors.”
Participants registered strong support for this initiative and InvesTT’s data driven approach in identifying the PIOs. The next step will see each Stimulator Group reviewing the competitive advantages in their niche areas and proposing opportunities for increased investment in Trinidad and Tobago.