UWI economist Dr Roger Hosein yesterday predicted that T&T’s economic recession will continue until the third quarter of 2017.
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UK Guardian highlights T&T’s IFC
The Guardian, a British daily newspaper and the third most widely-read online news site in the world, has published a report that highlights T&T, and in which the International Financial Centre (IFC) and other national agencies are featured. The country report gives a detailed profile of T&T, emphasising its strengths in areas such as finance, investment, energy and sustainable development, and has the potential to generate enormous positive international awareness for T&T. The comprehensive country feature was researched and written by The Report Company, a UK-based firm that produces print and digital nation profiles in partnership with reputable international newspapers like The Guardian, The Independent (UK), The Economic Observer (China) and Die Welt (Germany). The report on T&T was published in both the print and online Guardian, giving it access to a total potential international audience of 10.4 million as of August 2013.
Under the heading of Finance, the print report profiles the T&T IFC, including excerpts from an interview with Chief Executive Officer (CEO) Varun Maharaj. “With their massive readership and their reputation as a well-respected newspaper, the Trinidad and Tobago IFC believes that this feature will be a powerful tool to market both our organisation and the nation. “It positions us not only as a centre for financial services, but as a regional leader in business, culture and sustainable development,” Maharaj said. As CEO of the agency tasked with developing the nation’s financial sector, Maharaj was interviewed for his perspective on the sector and opportunities for establishing financial services in T&T. Of the T&T IFC, the report says: “TTIFC provides companies with facilitation and support, as well as putting them in touch with the island’s resources and talent.”
Apart from TTIFC’s mission of developing a locally-based financial support services industry, Maharaj commented on the agency’s goal of capital markets development: “Trinidad and Tobago IFC will position Trinidad and Tobago internationally as the best place to issue debt. We are presently laying the foundation and expect within the next year we will see continued progress in the domestic market as we work in parallel to establish conditions that will bring confidence and attract international players.” He also highlighted the nation’s potential as a centre for regional and international financial business. “We believe we have a grand value proposition,” Maharaj said. “We have worked to articulate and fine-tune the many differentiators such as location, stable economy, North American cultural affinity, well-trained labour pool, and low energy costs.”