Resources and Media: News Release: Investment

invesTT partners with T&T’s private sector to offer new business opportunities for investors

Mr. Mahabir, President of invesTT, speaks on partnering opportunities Mr. Mahabir, President of invesTT, speaks on partnering opportunities.

invesTT Limited, in its strategic alignment to the Government’s mandate to promote economic diversification, discussed its role in partnering with the private sector at a Breakfast Seminar held at the Super Industrial Services Auditorium on Wednesday 27th June, which was jointly hosted by the Couva/Point Lisas Chamber of Commerce and the Ministry of Trade, Industry and Investment.

“Opportunities that have been created by the Government and through invesTT can be linked back to the local community,” said Mr. Kelvin Mahabir, President of invesTT, who explained that invesTT functions as a virtual one-stop shop for investors.

He went on to discuss how the process works, and how it will be of benefit to foreign investors.

“An Account Executive is established for each investment in the invesTT organisation, and that Account Executive works with you and works with the various agencies – such as Town and Country, Planning, EMA [Environment Management Authority] – to ensure that you understand what is required and to help you through any stumbling blocks that there may be to setting up your business,” he said.

invesTT also assists investors by providing Aftercare Services for foreign businesses already established, in order to facilitate continuous investment. “We hope that, having invested and having had a good experience, investors’ colleagues will also be interested in coming to Trinidad and Tobago and setting up business here,” he added.

Mr. Mahabir invited the private sector to take advantage of invesTT’s services by informing invesTT of upcoming projects for which they may be seeking investment. Through invesTT’s extended network of contacts and resources both within Trinidad and Tobago as well as abroad, invesTT is able to source investment on behalf of local businesses for specific projects that are of benefit to the economic development of the country.

Government support through TTBizLink

Speaking at the Breakfast Seminar, Senator the Honourable Vasant Bharath, the Minister of Trade, Industry and Investment, discussed the importance of the support of the Government for both local and foreign investment.

“If we are serious about attracting new business, both local and foreign, then we must fix our systems,” he said. He welcomed the introduction of TTBizLink, which serves to greatly improve these systems and therefore promote investment on a global scale.

Mr. Randall Karim, Director of Policy and Strategy at the Ministry of Trade, Industry and Investment presented on the TTBizLink services, which will vastly shorten the timeframes for business processes that can delay the setup and operation of businesses in Trinidad and Tobago.

Online applications currently offered by TTBizlink are: (1) import/export permits and licenses (2) import duty concessions (3) company registration (4) certificate of origin (5) fiscal incentives (6) work permit application (7) customs e-manifest (8) customs e-goods declaration.

For more information on TTBizLink, please visit: www.ttbizlink.gov.tt