The Trinidad and Tobago agriculture sector is cautiously optimistic about the promises outlined in the 2025/2026 national budget, presented by Finance Minister Davendranath Tancoo on October 13. With a total expenditure of $59.232 billion, the agriculture sector is set to receive $1.13 billion, a slight decrease from the previous year’s allocation of $1.184 billion. However, stakeholders are urging the government to move beyond rhetoric and deliver tangible results. Darryl Rampersad, president of the Agriculture Society, expressed skepticism, noting that past government pledges often failed to materialize. He emphasized the need for agriculture to be prioritized and for existing incentive programs to be expanded, including the removal of VAT on essential agricultural items. Minister Tancoo announced several measures aimed at revitalizing the sector, including VAT exemptions on machinery and equipment for agricultural use, hydroponic and greenhouse farming components, and locally grown produce. Additionally, Customs Duty on feed for poultry, cattle, and pigs will be removed starting January 1, 2026. The government is also aligning with Caricom’s ’25 by 2025′ initiative, aiming to reduce food imports by 25% by 2030. Key strategies include a three-year priority commodities program, climate-resilient farming, crop insurance, and investments in agri-tech and smart agriculture. With $793.7 million allocated for infrastructure, irrigation, and fisheries, the government is targeting $1 billion in agricultural exports in the next fiscal year.
分类： business
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Drivers delighted with ‘ease up’ on super gasoline
In a significant move during the 2025/2026 budget presentation on October 13, Trinidad and Tobago’s Finance Minister Davendranath Tancoo announced an immediate reduction of $1 per litre in the price of super gasoline. This decision, mandated by Prime Minister Kamla Persad-Bissessar, aims to provide financial relief to citizens by reversing part of the previous administration’s phased removal of fuel subsidies, which had led to consistent price hikes over the past decade. Drivers expressed their delight at the news, with one stating, ‘Yuh can’t go wrong. Is ah ease up; ah dollar could help a lot.’ Another driver highlighted the potential savings, saying, ‘That supposed to help we. That’s a plus. More gas, less money.’ However, not all reactions were positive. Some drivers were disappointed that the price reduction did not take immediate effect at the pumps, as promised. ‘If they say immediately, they supposed to remove it immediately,’ one driver remarked. Additionally, users of premium gasoline and diesel expressed frustration that the price cut was limited to super gasoline, with one driver noting, ‘It’s only for super, it doesn’t do anything for people using premium.’ A diesel user added, ‘If the consideration was made for one type of fuel, it should have been made across the board.’ While the announcement was generally welcomed, many drivers remain cautious, hoping for broader economic improvements in the budget.
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Gambling commission: Crackdown on illegal operators will level playing field
In a significant move to combat illegal gambling and strengthen regulatory oversight, the Gambling (Gaming and Betting) Control Commission has proposed amendments to the Gambling and Betting Act. Corporate Communications Manager Shahad Ali emphasized that these changes, which include harsher penalties for illegal operators, aim to create a fairer playing field for licensed businesses and foster sustainable industry growth. Ali highlighted that the reforms prioritize responsible gaming practices and the protection of vulnerable groups, aligning with public expectations and regulatory mandates. Finance Minister Davendranath Tancoo, during his 2025/2026 budget presentation, underscored the financial toll of illegal gambling, estimating a $9 billion illegal market that deprives the state of significant tax revenue and fuels criminal activities like money laundering and human trafficking. To address this, the amendments introduce penalties of up to $3 million and seven years’ imprisonment for illegal operators. Additionally, the National Lotteries Control Board (NLCB) will now make quarterly payments into the Consolidated Fund to enhance revenue oversight. These measures are part of a broader fiscal strategy to improve compliance and boost state revenue collection.
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Real estate trust to unlock ‘national wealth’ to ordinary citizens
In a groundbreaking move to democratize state-owned assets and enhance public participation in national wealth creation, Finance Minister Davendranath Tancoo announced the establishment of a Real Estate Investment Trust (REIT) and a $1 billion bond under the National Investment Fund (NIF). The announcement was made during the presentation of the $59 billion budget on October 13, marking a significant step toward innovative financing in Trinidad and Tobago. The REIT, described as a ‘landmark initiative,’ will include high-value income-generating properties such as land, office buildings, and commercial infrastructure. These assets will be transferred to the REIT and listed on the local stock exchange, enabling both individual and institutional investors to earn dividends from real estate investments. Minister Tancoo emphasized that the state will retain a strategic stake in these assets, ensuring transparency and accountability through a high-level technical committee. Additionally, the NIF will launch a $1 billion bond in the 2026 fiscal year, offering citizens and small businesses a safe, tax-free investment opportunity. The bond will be backed by 21% of the shareholding of First Citizens Group Financial Holdings Ltd (FCGFH), valued at approximately $2 billion. The government retains a 60.11% majority ownership in First Citizens Group, ensuring indirect control over these assets. Both initiatives aim to strengthen the capital market, diversify investment opportunities, and contribute significantly to government revenue.
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OPINION: What cannabis legislation can teach us about foreign direct investment (Part 2)
In the competitive landscape of foreign direct investment (FDI), Saint Lucia and other Caribbean nations offer substantial tax concessions to attract investors. These incentives include VAT relief on building materials, income tax exemptions, property tax waivers, and customs duty exemptions on imports. Such measures are part of a broader strategy to stimulate economic growth and job creation. However, the International Monetary Fund (IMF) has raised concerns about the sustainability of these incentives, noting that the cost per job in the formal sector can be as high as $2,500. Research also indicates that some countries forfeit up to 16% of their annual GDP through tax incentives, with limited tangible benefits. Despite these criticisms, proponents argue that without such incentives, investment and job creation would stagnate. To address these challenges, the Regulated Substance Authority (RSA) and other stakeholders are focusing on sector-specific incentives that prioritize corporate social responsibility, environmental protection, and compliance with national and international laws. Additionally, efforts are underway to improve the ease of doing business in Saint Lucia, addressing issues such as limited access to financing, weak insolvency mechanisms, and high energy costs. The RSA is also working to integrate traditional communities, such as the Rastafari, into the burgeoning cannabis industry, ensuring that development does not displace local stakeholders. The consultative process undertaken by the RSA serves as a model for broader legislative and policy initiatives, emphasizing public engagement and transparency. As Saint Lucia navigates the complexities of FDI, balancing economic growth with sustainable development remains a critical challenge.
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Blue Ocean Dredging Equipment En Route to Antigua
In a significant move to bolster coastal resilience and infrastructure development, Antigua and Barbuda has acquired a state-of-the-art dredging excavator and barge. Prime Minister Gaston Browne confirmed that the equipment, purchased by the government for Blue Ocean, has been disassembled and shipped from the Port of Holland to Antigua and Barbuda. This acquisition positions the government as the majority shareholder in Blue Ocean, marking a strategic investment in the nation’s future. The heavy-duty machinery is set to play a pivotal role in dredging, beach replenishment, and land reclamation projects, which are essential for mitigating coastal erosion and enhancing environmental sustainability. The initiative underscores the government’s commitment to safeguarding the nation’s coastline and fostering long-term economic growth. Additionally, the government has emphasized the importance of such infrastructure projects in attracting tourism and supporting local industries. The move is part of a broader strategy to strengthen Antigua and Barbuda’s resilience against climate change and natural disasters, ensuring a sustainable future for its citizens.
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Government Moves Forward with New Port in Barbuda for Trade and Tourism
The government of Antigua and Barbuda has announced significant progress in its plans to construct a new port in Barbuda, aiming to enhance the island’s trade and tourism sectors. During a post-Cabinet press briefing on Thursday, Maurice Merchant, the Director General of Communications, revealed that a potential site for the port has been identified after extensive discussions. Merchant emphasized the necessity of the project, stating, ‘There is a clear need for a new port in Barbuda to improve trade and tourism, particularly for the docking of yachts and other vessels.’ Senior government officials recently visited the proposed site to evaluate its suitability, with a comprehensive report expected shortly. The new port is expected to bolster Barbuda’s rapidly growing tourism industry, which has seen a surge in investment in recent years. Merchant highlighted, ‘Barbuda has been developing rapidly, and tourism remains one of its key economic drivers.’ Once the site assessment is finalized, the Cabinet will review design and construction proposals before proceeding with the project. This initiative is part of the government’s broader strategy to strengthen Barbuda’s economic foundation through enhanced maritime infrastructure and improved regional trade connections.
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Wijnerman woont jaarvergadering IMF/Wereldbank bij
The 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank commenced on Monday, October 13, in Washington, D.C., and will continue through Saturday, October 18. Suriname’s Minister of Finance & Planning, Adelien Wijnerman, is leading a delegation to participate in this pivotal global event. The meetings serve as a critical platform for discussions on pressing economic issues, including debt reform, climate action, development strategies, macroeconomic policies, and financial stability. The Surinamese delegation is set to engage in bilateral talks, attend plenary sessions, and participate in key agenda items such as the Development Committee and International Monetary and Financial Committee meetings, regional briefings, and press conferences. Suriname, having recently completed an IMF Extended Fund Facility (EFF) program, aims to focus on institutional strengthening, securing investment flows, promoting sustainable growth, and monitoring external risks during the meetings. The outcomes of these discussions could significantly influence future financing opportunities, international partnerships, and policy support for Suriname amidst a rapidly evolving global economic landscape. Minister Wijnerman anticipates providing further updates as the week progresses.
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Economy : 3.7 billion from the Public Treasury to support the purchasing power of families
In a significant move to bolster economic stability, the Haitian government has unveiled a $3.7 billion gourdes initiative under the Multisectoral Emergency Program (PUM). Spearheaded by Prime Minister Alix Didier Fils-Aimé, this financial package aims to enhance the purchasing power of Haitian families while stimulating national economic recovery. The program targets 286,833 households, focusing on those most impacted by the ongoing economic crisis. Between September and October 2026, three key groups will benefit: parents of schoolchildren (70%), vulnerable households (19%), and workers in the textile and domestic production sectors (11%). Cash transfers, facilitated through Mon Cash and Nat Cash, will provide approximately 15,000 gourdes per recipient, with the government covering all withdrawal fees. Workers will receive their support either through employers or directly into their bank accounts. As of October 11, 2025, over 94,000 transfers had been processed within 48 hours, demonstrating the program’s rapid implementation. The identification of beneficiaries relies on robust databases and institutional partnerships, including SIGE (MENFP) for parents of schoolchildren, SIMAST (MAST) for vulnerable households, and ADIH and labor unions for industrial sector employees. Prime Minister Alix Didier emphasized the moral and national responsibility to support Haiti’s most vulnerable populations, stating, ‘Education remains the cornerstone of development and the pathway to a brighter future for our beloved Haiti.’
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Brian Branker recognised for energy innovation at WOW Factor Awards
Brian Branker, a prominent figure at Caribbean LNG Inc, has been awarded the prestigious WOW Factor Award 2025 in the Manufacturing, Energy, and Telecoms category. This accolade highlights his exceptional contributions to advancing sustainable energy solutions across the Caribbean region. The WOW Factor Awards, known for celebrating innovation and leadership across various industries, recognized Branker’s efforts in driving environmental and economic progress through cutting-edge energy initiatives. His work has not only positioned Caribbean LNG Inc as a leader in the energy sector but also underscored the importance of sustainable practices in addressing global energy challenges. The award ceremony, held in Antigua, brought together industry leaders and innovators to honor those making significant impacts in their respective fields. Branker’s achievement serves as a testament to the transformative power of visionary leadership in the energy sector.