Free zone company goes after US$250 million in new investment
Multi-million dollar signing Keith Chin, chief executive officer of T&T Free Zone Company Ltd, left, with Trade and Investment Minister Vasant Bharath sign off on a US$45million contract with Scott Jones, chief executive officer of Oldendorff Carriers Trinidad Ltd (right)
Trinidad Guardian has reported that German dry bulk leader Oldendorff Carriers has just signed on the dotted line for a US$45 million investment in Trinidad and Tobago. This is part of the US$250 million in new FDI expected by the end of 2012.
This FDI signing is part of the US$250 million in new FDI which the T&T Free Zone Company Ltd expects to receive by the end of 2012.
And there is even more good news. One of the best testimonials a country can receive for its foreign investment suitability is when companies expand after they have established themselves in the new territory. Such investment shows companies have tested the operating environment and economic viability of their chosen location and have been pleased with what they have found.
The story reveals plans by the UK software company Medullan to expand its local operations.
Headquartered in Cambridge, Massachusetts Medullan provides software solutions for the US healthcare industry and has been operating out of Trinidad’s IBP Free Zone since 2006. Here is the full story.