No longer 'emerging': Trinidad's new identity explored in report

Posted by Investt

Since gaining independence from Britain in 1962, Trinidad and Tobago has capitalised on its rich energy resources, sound infrastructure, political stability, and educated workforce to become the economic powerhouse and financial hub of the Caribbean.

uk reports trinidad new economic identity

No longer considered an emerging economy, the country is maturing into a regional leader and bolstering its presence on the international stage through soft power — particularly in the form of exporting elements of its world-famous carnival — and international trade agreements. To diversity its economy, which has traditionally relied heavily on oil and natural gas, T&T is promoting tourism, maritime activity, food and beverage, clean tech, financial services and the creative industries (fashion, arts, and entertainment).

Taking steps to improve its position on the World Bank’s ease of doing business index has earned T&T an increasingly investor-friendly status. It now courts FDI from China and India, as well as its traditional European and North American investors, through tax incentives. While the island of Trinidad continues building industrial capacity, its sister Tobago is intent on preserving its pristine natural beauty while promoting “green tourism”.

Read more in “Country Business Features: Trinidad and Tobago,” a report published this week in the UK’s Guardian. The full PDF report is available to download here.

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