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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.
Trinidad and Tobago now ranks third in the Caribbean on the World Travel & Tourism Competitiveness Index 2017, however it has fallen by four points from 69 in 2015 to 73rd in 2017.
Placing 73rd out of 136 countries with a score of 3.67, Trinidad and Tobago has high scores of 5.14 in the categories Health and Hygiene and 4.8 in ICT Readiness.
However, the country scored 4.09 in the category of Safety and Security, 3.69 in Prioritisation of Travel and Tourism, 2.71 in Natural Resources, and a dismal 1.31 in Cultural Resources and Business Capital.
Placing first in the Caribbean is Barbados with a global rank of 58 and score of 3.91, a drop of 12 points, and Jamaica with a global rank of 69 and score of 3.71, a seven-point increase since 2015.
Spain placed first on the index with a score of 5.43, followed by France (5.32), Germany (5.28), Japan (5.26), the United Kingdom (5.20) and the US in sixth place (5.12).
“While North America should enhance its price competitiveness, environmental sustainability and infrastructure; Central and South American nations should continue improving their safety and security, create more enabling environments for business and develop their infrastructure to enhance connectivity.”
“the set of factors and policies that enable the sustainable development of the Travel & Tourism sector, which, in turn, contributes to the development and competitiveness of a country”.
The Travel & Tourism Competitiveness Index measures four broad factors of competitiveness. These factors are organized into subindexes, which are further divided into 14 pillars: The Enabling Environment subindex, which captures the general settings necessary for operating in a country:
The Travel & Tourism Policy and Enabling Conditions subindex, which captures specific policies or strategic aspects that impact the Travel & Tourism industry more directly such as prioritisation of travel and international openness, price competitiveness, environment sustainability, air transport infrastructure, ground and port infrastructure and tourist service infrastructure.
See the full report here or go to www.weforum.org/reports/the-travel-tourism-competitiveness-report-2017
Source: Loop News