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InvesTT director: T&T open to Chinese investments

Published: 
Wednesday, June 29, 2016
Trade Minister Paula Gopee-Scoon, front centre, is flanked by members of the eTecK board, investment teams from eTecK and invesTT and members of the visiting delegation from China during a courtesy call at the ministry this week. The visiting team of 32 business men and women from China’s Building Materials Federation are currently in T&T, being hosted by InvesTT Limited.

InvesTT is optimistic that more Chinese companies will find T&T an attractive domain for investments. Speaking at the opening of a business to business seminar hosted by InvesTT to welcome a delegation from the China Building Materials Federation (CBMF), InvesTT director Sharon Christopher said since its inception the agency has focused on building strong ties with the international Chinese business community to increase investment flows to T&T. 

“Of significant interest to us at InvesTT, of course, is the potential to attract more Chinese investment to Trinidad and Tobago. Since InvesTT’s inception in 2011, we have had our eyes and ears open to Chinese investments, targeting companies with expansion objectives that have the potential to increase the contribution of the local non-energy sectors to national GDP,” she said.

Christopher added that the Trade Ministry has been developing the necessary policy framework to make investing in T&T easier and more attractive for multinational companies.

She said: “The Ministry of Trade and Industry recently revised an Investment Policy Statement which reiterates the Government’s position on Trinidad and Tobago being open for business. 

“The statement sets out the government’s policies for industrial infrastructure, environment, employment, fiscal, monetary, trade and industry incentives and investment guarantees with the aim of encouraging business growth and expansion among the private sector.” 

Christopher said though still a young agency, InvesTT has achieved significant recognition for its efforts in attracting foreign direct investments (FDI) to T&T.

Commenting on T&T’s investment potential, Li Zhiling, director of the international co-operation department at CBMF said that T&T was “a paradise for investment.” 

“With stable economic foundation, sound legal system, well-educated people, excellent financial service and a promising market, Trinidad and Tobago is the economic and financial centre and leading economy in the Caribbean,” he said.

Zhiling also said that partnering with the CBMF provides an avenue for mutual gain for both the T&T and Chinese economies.