(Trinidad Express) Nearly TT$1 billion worth of investment proposals —two from foreign entities and one from a local group—will be presented to Cabinet today by Trade Minister Stephen Cadiz.
“I have done my job,” Cadiz quipped in response to Finance Minister Winston Dookeran’s challenge on Tuesday that the country needs to attract at least TT$25 billion in investment over the next year.
Cadiz was speaking at the Trinidad and Tobago International Financial Centre’s first stakeholder consultation on Tuesday at the Hyatt Regency (Trinidad), Port of Spain.
The TT$950 million plan, which is intended to create 400 permanent jobs, will include a TT$250 million Information and Communications Technology (ICT) data centre at e TecK Tamana proving data storage for both local and foreign subscribers.
There will also be a 100 per cent locally funded manufacturing facility. Cadiz did not provide details, saying only that the facility will “probably be one of the largest local investments ever”. Cadiz said another of the proposals will be a bulk ore trans-shipment manufacturing facility off the coast of Point Lisas, which he described as a “whole new service for Trinidad and Tobago”.
Speaking about his recent trip to Perth, Australia, as part of this country’s Common-wealth Heads of Government delegation, Cadiz said it was not so much what we could get, but what we could also bring to the table.
“Trinidad and Tobago is recognised now. We had wonderful discussions with CEOs of different companies. The issue with the BP tax issue, it was down in Perth that the chairman of BP met with the Prime Minister. These are the opportunities these meetings create.”
