A Positive Investment Climate
Trinidad and Tobago is a stable democracy that maintains close relations with its Caribbean neighbours and major North American and European trading partners. It is a member of the following international associations:
- United Nations (UN)
- Organisation of American States (OAS)
- Association of Caribbean States (ACS)
- Commonwealth of Nations
- World Trade Organisation (WTO)
- Caribbean Community (CARICOM)
The Global Competitiveness Report 2016-2017 published annually by the World Economic Forum ranked Trinidad and Tobago favourably on a number of sub-indices.
A globally competitive environment calls for a highly-skilled, dedicated and productive workforce. In 2014 Trinidad and Tobago had a workforce of approximately 649,100 persons. This workforce speaks native English and there is a high competency of Spanish as the country is only 11kms off the coast of South America.
Trinidad & Tobago has a well-developed human resource base as education has been a prime focus of the country’s development strategy since the nation’s independence in 1962. The workforce is characterised by a high percentage of university graduates including those with postgraduate qualifications. Legal, administrative, information technology and general management skills are widely available, as well as STEM (scientific, technical and engineering and mathematics) qualifications and skills specific to industries like agriculture, construction and energy, including downstream energy.
The Government of the Republic of Trinidad and Tobago partners in many of its educational and skills-training initiatives with the private sector in order to specifically fill the future needs of employers who will keep the economy internationally competitive.
The National Training Agency’s On-the-Job Training (OJT) programme provides opportunities for nationals, between the ages of 16-35, to gain practical experience and work-based training within companies in the Republic of Trinidad and Tobago. The programme envisions the certification of all trainees under the National Occupational Standards through the Trinidad and Tobago Vocational Qualifications (TTNVQ)/ Caribbean Vocational Qualification (CVQ) Framework. This new national accreditation system for vocational education allows certified persons to pursue further education and training. OJT is made available through the Ministry of Tertiary Education and Skills Training (TEST).