分类： business

The Greater San Fernando Area Chamber of Commerce has unveiled a groundbreaking initiative poised to reshape the economic landscape of southern Trinidad. The Southern Investment and Marketing Co-operative Credit Union Society (SIMCO-OP), set to launch early next year, aims to provide tailored financial solutions for micro, small, and medium-sized enterprises (MSMEs). This initiative is expected to unlock new opportunities for financing, wealth creation, and business growth in the region.

Kiran Singh, president of the chamber, announced the initiative during the annual Christmas charity event, ‘Mix and Mistletoe,’ held on November 15 at Achievors Banquet Hall in La Romaine. Singh emphasized that SIMCO-OP will not only facilitate business development but also foster job creation and wealth generation. The cooperative plans to host pop-up markets and workshops to support entrepreneurs and the broader community.

In addition to SIMCO-OP, the chamber is rolling out a comprehensive health plan for its 153 members and introducing a multi-faceted discount card to reduce operational costs. These efforts underscore the chamber’s commitment to enhancing its role in the national financial system and bolstering the economic resilience of its members.

The chamber is also expanding its international presence, with members participating in global trade events such as the Consumer Electronics Show in the US, a pharmaceutical expo in India, and trade forums in China. A recent seminar on ‘doing business with India,’ hosted in collaboration with the Indian High Commissioner, further broadened international trade opportunities.

Regionally, the chamber has forged ties with the Georgetown Chamber of Commerce in Guyana, with a trade mission planned for the new year. Exploratory engagements with the Jamaican market are also on the horizon for 2026. These partnerships aim to provide southern businesses with access to shared information networks and new markets.

The chamber is collaborating with the San Fernando City Corporation to upgrade public spaces like Harris Promenade and enhance security measures. Two televisions were donated to the TT Police Service for improved monitoring in downtown San Fernando, with local businesses contributing CCTV cameras.

Singh highlighted the chamber’s efforts to restore San Fernando’s status as Trinidad and Tobago’s industrial capital. He encouraged members to explore opportunities in the global services sector, a trillion-dollar industry with significant potential for export diversification and foreign-exchange earnings.

Neil Gosine, parliamentary secretary at the Ministry of Trade, Investment and Tourism, commended the chamber for its dual focus on economic leadership and social responsibility. He outlined several government projects under the TT Revitalisation Blueprint, including a waterfront redevelopment in San Fernando, a new highway, and the transformation of a legacy hospital into a modern health city. These initiatives aim to create over 50,000 jobs and position Trinidad and Tobago as a global investment and tourism hub.

Gosine also announced the upcoming launch of the Private Sector Organisation of TT (PSOTT) and a ‘Buy Local, Build Trinbago’ campaign to reduce import dependency and boost domestic production. He reaffirmed the government’s commitment to supporting private-sector growth as a cornerstone of national development.

In a powerful address to the 2025 graduating class of the University of Trinidad and Tobago (UTT), Sieunarine Persad Coosal, Executive Chairman of the Coosal’s Group of Companies and honorary doctor of entrepreneurship and innovation, urged graduates to embrace their role as change-makers in an era of unprecedented transformation. Coosal emphasized that the world is evolving rapidly, driven by advancements in technology, artificial intelligence, climate change, economic uncertainty, and social inequality. He challenged the graduates not to passively adapt to these changes but to lead them with purpose and innovation. Coosal highlighted the importance of resilience, creativity, and a mindset focused on solutions rather than problems. Drawing inspiration from historical figures like Thomas Edison and Malala Yousafzai, he reminded the audience that failure is a stepping stone to progress and that true success lies in uplifting others. Coosal called on the graduates to use their education to make a meaningful impact on their families, communities, and nation, urging them to dream boldly and act with purpose. He concluded by celebrating their achievements and potential, describing them as the architects of a resilient and prosperous future.

The Tobago Division of the TT Chamber of Industry and Commerce is gearing up for a revitalized economy in 2026, driven by a combination of strategic policies and collaborative efforts. As the primary advocate for sustainable business growth on the island, the division is actively promoting projects that stimulate economic activity and bolster investor confidence. Key initiatives include addressing public infrastructure needs, enhancing government service efficiency, and fostering closer collaboration with the central government. These efforts aim to position Tobago to seize emerging opportunities in a rapidly evolving economic landscape. Tourism remains the cornerstone of Tobago’s economy, contributing nearly 14% of the island’s GDP and employing around 16,000 people. The sector’s potential is further amplified by the completion of the airport expansion project, which triples passenger capacity and opens up new investment opportunities in high-end accommodations and logistics. Additionally, the development of a modern commercial port, including a cruise ship terminal and marina, is expected to boost international trade, tourism, and marine activities while creating long-term employment and attracting foreign exchange. The chamber emphasizes the importance of aligning these projects with Tobago’s sustainable tourism strategy and environmental goals. Beyond tourism, the division is exploring diversification in export markets, particularly through the Caricom Single Market and Economy (CSME), which offers new avenues for local businesses to expand their reach. Challenges such as foreign exchange shortages persist, but the chamber remains committed to finding solutions in collaboration with relevant stakeholders. Opportunities abound in agriculture, renewable energy, manufacturing, and the digital economy, positioning Tobago as a hub for innovation and investment. The chamber’s optimism for the island’s economic future is unwavering, as it continues to foster an environment that supports both local and international enterprises, ensuring inclusive growth for all stakeholders.

In the 1960s, Air Canada and the Canadian government played a pivotal role in bolstering British West Indian Airways (BWIA) to become the Caribbean’s regional carrier. By 1967, the Trinidad and Tobago (TT) government had advanced $15,255,816 to sustain BWIA’s operations, recognizing the urgent need for fleet expansion and financial restructuring. However, BWIA faced more than just financial challenges. A 1966 memorandum from BWIA’s chairman highlighted critical deficiencies in top management, engineering, planning, and accounting expertise, as well as a severe shortage of experienced pilots. The chairman concluded that BWIA needed a financially strong partner with the ability to provide managerial and staffing support. Acting on this advice, the TT government sought suitable partners, leading to a proposal from Canada on May 23, 1967. The Canadian government, after reviewing BWIA’s situation, proposed a comprehensive corporate association between Air Canada and BWIA. Key elements of the proposal included designating BWIA as the regional carrier for the Commonwealth Caribbean, allowing Canada to acquire up to 49% of BWIA shares, appointing a majority of BWIA’s board of directors, and negotiating multilateral air agreements. The TT government, optimistic about BWIA’s potential, had envisioned it as a regional carrier since 1961, when it salvaged the airline. Despite initial efforts to persuade other West Indian territories to join BWIA, the airline’s transformation into a regional carrier was a complex and collaborative endeavor involving multiple governments and stakeholders.

In anticipation of the COP 30 summit earlier this month, the Association of Chartered Certified Accountants (ACCA) introduced a groundbreaking unified framework for responsible investment. This innovative approach seamlessly integrates sustainability considerations into strategic decision-making processes. Developed in collaboration with the universities of Witwatersrand and Leeds, the framework, titled ‘Understanding Responsible Investment,’ provides a comprehensive yet concise guide linking environmental and social issues to capital allocation and investment decisions. The framework outlines eight essential steps that organizations can follow to align their financial success with environmental and social responsibilities. Sharon Machado, ACCA’s head of sustainable business, emphasized the significance of this development, stating, ‘Despite the growing urgency to address climate change and social inequity, a unified approach to responsible investment has been lacking. Our collaborative effort has now filled this gap, offering a model that systematically incorporates all risks and opportunities into investment analysis.’ The framework includes key components such as ESG integration, sustainability frameworks, screening methods, investor proactivity, strategic purpose, investment options selection, regulatory requirements, and outcome measurement. Dannielle Cerbone, an associate professor at the University of Witwatersrand, praised the report for its academic rigor and practical relevance in an increasingly complex investment landscape. The report also highlights the evolving nature of sustainability reporting and the need for investees to balance financial, ecological, and social value creation to better access responsible finance. Machado expressed hope that the report would serve as a practical tool for investors and companies, particularly in assessing the impact of sustainability-related factors on organizational valuation—a task that remains challenging.

The renowned Caribbean beauty brand, Cher-Mere, marked its debut in Guyana at the prestigious Guyana Expo 2025 (GuyExpo), held from November 13-17 in Georgetown. The event, Guyana’s longest-standing trade exposition, attracted over 270 exhibitors from across the Caribbean and globally, alongside more than 100,000 visitors. Cher-Mere showcased its signature natural beauty and hair care products, including its premium hair oils such as Organic Black Castor Oil, Pure Batana Oil, and a blend of Batana, Rosemary, and Tea Tree Oil, all crafted by The Herbarium Ltd. in Trinidad and Tobago. The brand also featured Bigen Hair Care products, distributed through Merle’s Hairdressing Supplies Ltd. The Cher-Mere team, led by promotions manager Janelle Wiltshire, spa operations manager Khadine Knights-Benjamin, and retail manager Khadine Hinds, engaged visitors with product demonstrations, giveaways, and educational sessions on their wellness-focused offerings. Cheryl Bowles, biochemist and founder of Cher-Mere, expressed her enthusiasm for entering Guyana’s dynamic market, emphasizing the brand’s alignment with consumer demand for sustainable, authentic, and science-based beauty products. Founded over 40 years ago in Trinidad and Tobago, Cher-Mere has evolved from a local hair-care brand to an internationally recognized name in natural beauty and self-care. The company’s participation in GuyExpo 2025 underscores its strategic expansion into the Caribbean region, aiming to forge partnerships with distributors, salons, and wellness retailers while connecting directly with consumers. Notable visitors to the Cher-Mere booth included Guyana’s Minister of Tourism, Industry and Commerce, Susan Rodrigues, and Trinidad and Tobago’s High Commissioner to Guyana, Candice Shade, among other dignitaries.

The Trinidad and Tobago Securities and Exchange Commission (TTSEC) has issued a critical public advisory regarding an alarming proliferation of sophisticated investment scams. In an official statement released November 27, the financial regulatory authority detailed how fraudsters are deploying increasingly advanced tactics, including artificial intelligence-generated content, to deceive potential victims.

According to the TTSEC, modern investment scams employ a multi-faceted approach to gain victims’ trust. Fraudsters create convincing fake social media profiles using stolen imagery and minimal personal information. These operations frequently promise unrealistic financial returns, such as generating $30,150 from a $2,000 investment within mere hours, to entice victims with impossible guarantees.

The commission highlighted that scammers typically migrate conversations to private messaging platforms like WhatsApp or Telegram after initial contact. There, impersonators posing as legitimate investment representatives provide false assurances using fabricated documentation. The TTSEC specifically warned about scammers’ growing use of AI technology to create convincing fake documents, profiles of high-ranking officials, and even counterfeit video messages featuring supposed institutional leaders.

Other red flags include urgent deposit requests to ‘secure limited spots,’ false claims about fee-free investments, and completely fabricated investment platforms that display exaggerated account balances to simulate profitable returns. Victims often face subsequent demands for substantial withdrawal fees exceeding $1,000, followed by additional payment requests.

The advisory further cautioned against sharing sensitive personal information, including ID card images, credit card details, passwords, or bank PINs with unknown individuals. Scammers may also request funds through third-party money transfer services, potentially implicating victims in money laundering schemes.

The TTSEC emphasized that these operations frequently employ fake testimonials and staged social media content to create false social proof. They maintain persistent pressure through multiple communication channels and typically cease all contact when victims express doubts or request refunds.

The commission urges the public to exercise extreme skepticism toward unsolicited investment opportunities, particularly those promoted through social media or messaging applications. Verification of registration status for any individual or entity can be conducted through the TTSEC’s official website at https://www.ttsec.org.tt/registration/registered-companies-individuals-and-securities/

Suspicious activities should be reported immediately to marketcomplaints@ttsec.org.tt.

In a recent statement, Trinidad and Tobago’s Minister of Homeland Security, Roger Alexander, suggested that the country should consider adopting China’s social media policies. This proposal highlights two critical points: first, the recognition of the growing dangers in the online space, and second, a fundamental misunderstanding of China’s digital governance system. As someone based in Asia, it is clear that China’s model is unique and cannot be replicated by Western nations, Caribbean countries, or Trinidad and Tobago. To understand why, it is essential to examine the pillars of China’s digital architecture and the cultural and political context that makes it effective. China’s digital system is not merely a set of policies but a comprehensive framework built over two decades. It includes the Great Firewall, which blocks foreign platforms and monitors traffic; mandatory real-name digital identity, ensuring anonymity is nonexistent; domestic platforms like WeChat and Alipay, which are fully regulated by the state; data localization, keeping all citizen data within China; and a robust enforcement system overseen by the Cyberspace Administration of China. This model thrives in China due to its collectivist society, high trust in the central government, one-party political structure, and a population large enough to sustain its own tech ecosystem. However, Trinidad and Tobago lacks the resources, technical capacity, political structure, and cultural acceptance to implement such a system. The country faces significant challenges in its online space, including toxic behavior, misinformation, and threats to public safety. Instead of looking to China, Trinidad and Tobago should consider Singapore’s balanced approach, which includes the Protection from Online Falsehoods and Manipulation Act (POFMA). This legislation allows for correction notices to be added to false posts without censorship, protecting free speech while limiting harm. Moving forward, Trinidad and Tobago needs updated cybercrime laws, a clear distinction between protected speech and criminal threats, and improved digital literacy. Adopting a model aligned with its culture, constitution, and realities, such as Singapore’s, is the practical solution.