InvesTT, the country’s national investment promotion agency (IPA), continues to provide the right support to local and international investors seeking to invest or expand business operations in Trinidad and Tobago. Since its inception in 2012, the IPA has facilitated a total of 117 site visits and secured 25 investment projects with a total value of TT$3 billion. Eight investment projects were closed in fiscal 2017-2018.
“We had a target of securing 4 investments this year and we surpassed our goal by 100%. Three of the investments are from foreign companies which we facilitated until they made their final decision to establish themselves here. The other five are reinvestments from local companies for whom we have been providing regulatory assistance. For both types of investments we acted as the primary contact through which all their business registration processes, issues, concerns, site visits and requests for information were channelled, so that their investment goals could be achieved within a reasonable timeframe.”
The investments closed by InvesTT in 2018 are from companies operating within the Manufacturing, ICT, Maritime, Agro-Processing, Services and Creative Industries, which have been targeted by the Government for growth and development in its overall economic diversification strategy. One of the companies will be the newest tenant at Tamana InTech Park which offers 20 land lots for lease within its 1100 acres of prime industrial real estate.
The IPA’s role in diversification is to scan the local environment for lucrative investment opportunities and promote them to foreign and local investors. It is also set up to make it easier for investors to establish and/or expand their business in the country by providing pertinent business information, creating value chain business linkages and acting as the liaison between the investor and government entities e.g. Town & Country Planning Division, the Environmental Management Agency, the Commission of State Lands, Immigration Division.
InvesTT applies best practices in Investment Promotion and in 2017 was commended for its expansion and reinvestment strategy by fDi Intelligence - a service from the Financial Times and the largest FDI centre of excellence globally. It was also voted a top investment promotion agency in 2015 and 2017 by Site Selection Magazine.
The IPA continues steadfastly on its mission to attract, facilitate and retain investments in Trinidad and Tobago and has already set itself to achieve greater heights with an active pipeline for Fiscal 2019.
To find out more about InvesTT and doing business in Trinidad and Tobago, please set up an appointment with a member of our team at +1 (868) 225-4688 or email us at email@example.com.