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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.
InvesTT, the national investment promotion agency of Trinidad and Tobago, participated as a sponsor at TTMA’s Trade and Investment Convention (TIC) 2022 which took place over 3 days from 25th to 27th August.
At the opening ceremony of TIC 2022 on 24th August, the agency’s Chairman, Franka Costelloe, announced that for this fiscal year to date InvesTT has facilitated over TT$450M in investments (total local and foreign) with another TT$100M to be closed by end of September, 2022. Of this total figure, she stated “Our local business climate doubled down and invested TT$320.5 million, which represents an increase of 319.5% over the previous year. These projects will create 557 new jobs in Trinidad and Tobago and include businesses in Agro-Processing, Shared Services, Maritime and Logistics distribution, Food Processing, Manufacturing for construction and Hotel Development.”
At InvesTT’s TIC 2022 exhibition booth, the team educated the public on its mandate to attract local and foreign investment and showcased the benefits of tenanting the 3 parks managed by e TecK. In total, 7 companies (inclusive of 2 Chinese companies) have signed their letters of offer to tenant e TecK’s Phoenix Park Industrial Estate, 4 local agro-processors have been allotted spots at e TecK’s Moruga Agro-Processing and Light Industrial Park and 2 tenants are set up at Tamana InTech Park in Wallerfield.
Caribbean Specialty Foods, one of the first tenants to occupy the agro-processing park in Moruga, shared space at InvesTT’s TIC booth on Saturday to showcase and sell agro-products, such as Rum-flavoured pepper sauce, Tamarind & Mango dips, Tomato & Cilantro dips. These are some of the products which will be processed in Moruga. Currently, there are 4 land lots and 2 factory shells left that are available for lease at the Park while the others are allotted to secured tenants at various stages of preparation to occupy their spaces.
According to InvesTT’s president, Sekou Alleyne – “We are indeed pleased to contribute to the growth and development of companies through the provision of our investor services such as value chain advisory, assistance with regulatory and registry issues, industrial real estate options and the creation of business linkages that ultimately enhance the company’s performance and overall competitiveness. We eagerly await the full operationalization of the Special Economic Zones Authority whose incentives will significantly boost our value proposition and our ability to attract new investors.”