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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.
The civil engineering works on 21 lots (over 74 acres) of the Tamana InTech Park (TIP) and the fibre optic network and electrification of the Park have been completed and all within budget. This announcement was made by Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry at the Tamana InTech Park, Wallerfield on Friday 10 February, 2017 prior to a tour of the Park.
‘the Park which spans 1,100 acres of land, is guaranteed to increase Trinidad and Tobago’s visibility on the global map as a commercial centre primarily for technology and innovation. It is a great step in becoming an innovation-driven economy’.
The Minister noted that ‘it is envisaged that TIP will be home to major technology players and perhaps a place where groundbreaking innovative ideas emerge. Very importantly and in line with the top Science and Technology Parks in the world, Tamana will have a unique blend of environmental appeal along with industrialization. … one of its largest tenants, The University of Trinidad and Tobago (UTT), …will offer research and development facilities, as well as a pool of industry specialists who can be harnessed to attain the highest standards of performance required to be globally competitive. Furthermore, the presence of UTT at Tamana will create the necessary synergies between industry and academia required for cutting-edge research and managing innovation and intellectual property’.
In addition to Business Process Outsourcing (BPO), Tamana will offer unique investment opportunities in other ICT areas such as Software Development and Animation, as well as High-value Manufacturing. The Trade and Industry Minister stated that ‘the main goal for the TIP at this time is to ensure its full operationalization through tenanting. In this regard, as part of the thrust to diversify the economy towards industries outside of the energy sector, the core activities of TIP will be focused around the following sectors: ICT – 4 lots have been provisionally allocated; Business Process Outsourcing (BPO) – 2 lots have been provisionally allocated; Data processing / centres – 4 lots have been provisionally allocated; Animation and software development – 3 lots have been provisionally allocated; High value manufacturing / assembly – 3 lots have been provisionally allocated; and Financial Services – 5 lots have been provisionally allocated’. The Trade and Industry Minister expressed confidence that the Tamana InTech Park will aid in the ultimate goal of diversification, while placing Trinidad and Tobago as the premier investment destination of the region.
‘the Tamana InTech Park represents a significant thrust in the direction of economic diversification. This can be our Silicon Valley, where innovation and ingenuity can abound, where creativity and collaboration would collide to produce new, high-paying, sustainable careers for a population that was being gifted, simultaneously, with the University of Trinidad and Tobago’
Professor Kenneth S. Julien (Emeritus), Chairman, University of Trinidad and Tobago in his presentation provided a comprehensive overview of the plans for the UTT Campus which include ICT, state of the art sporting and residential facilities. He underscored that the UTT’s areas of focus were predicated on the development objectives of the country.
Also delivering Remarks were Mr. Imtiaz Ahamad – Chairman, e TecK and Ms. Janelle Penny Commissiong, Director, InvesTT. In attendance were the Honourable Camille Robinson-Regis, Minister of Planning and Development and Member of Parliament for Arouca/Maloney; the Honourable Brigadier General Ancil Antoine, Member of Parliament for D'Abadie/O'Meara; Heads of Diplomatic Missions and other members of the diplomatic corps and Heads of Business Chambers and Associations.
SEKOU ALLEYNE | Manager, Investor Sourcing & Facilitation
+ 1 868 225 4688 ext 2268 (TEL) | + 1 868 675 9125 (FAX)
Level 19, Nicholas Tower | 63-65 Independence Sq. | Port of Spain | Trinidad & Tobago | GMT-4