标签： Trinidad and Tobago

As Trinidad and Tobago (TT) adapts to a rapidly evolving global energy landscape, the nation is charting a bold new course. At the forefront of this transformation is a strategic pivot toward large-scale wind energy deployment, coupled with green hydrogen and green ammonia production. This initiative is poised to become TT’s next major economic driver, ensuring its competitiveness in a world increasingly focused on decarbonization.

For entrepreneurs and senior-level employees in Trinidad and Tobago’s small and medium-sized enterprises (SMEs), achieving export readiness is a significant milestone. The Trinidad and Tobago Chamber of Commerce (TT Chamber) has long emphasized this goal through its Contact Magazine and various initiatives, offering incentives, support services, and financing options to help businesses scale from micro to large enterprises. Both public and private sectors have introduced technical and operational growth programs, including the TT Chamber’s inaugural SME Conference, ‘Catalyst,’ aimed at fostering SME development. However, while some SMEs have achieved remarkable regional and international success, many still struggle to break through. This raises critical questions about policy environments, financing accessibility, and the effectiveness of public and private support systems. Marc Sandy, Manager of the Trade & Business Development Unit at the TT Chamber, highlights that while these factors are important, the entrepreneur’s passion and commitment to building a sustainable brand are paramount. One standout example is Farm and Function, a local agro-processing company that has expanded its regional footprint despite challenges, including the COVID-19 pandemic. Founded by David Thomas and Rachel Renie-Gonsalves, the company evolved from d’Market Movers, an online fresh produce distributor, into a leading supplier of frozen fruits. Farm and Function’s success story underscores the importance of resilience, strategic pivoting, and a clear vision. As SMEs navigate the complexities of export readiness, they must ask themselves fundamental questions about their ambitions, adaptability, and discipline. The journey from local to legendary demands not only financial and operational readiness but also an unwavering commitment to a global vision.

Economist and former senator Taharqa Obika has delivered a scathing assessment of the United National Congress (UNC) administration’s inaugural $59.2 billion national budget, labeling it as “heavy in rhyme but hollow in economic reason.” Obika, who once served as a UNC senator before defecting to the People’s National Movement (PNM), criticized Finance Minister Davendranath Tancoo’s budget presentation for its lack of substantive economic direction despite its rhetorical flair. Speaking to Newsday via WhatsApp, Obika remarked that while Tancoo’s delivery was energetic and even poetic, it failed to address critical economic challenges. He argued that the budget missed the opportunity to establish a robust foundation for the country’s recovery over the next five years, leaving “gaping holes” in areas such as revenue generation, pension reform, and taxation policy. Obika, who holds an MBA in Finance and a BSc in Economics, highlighted the absence of concrete strategies to meet expenditure targets, particularly in revenue collection. He warned that the lack of detail could indicate the government’s inability to balance the books without resorting to devaluing the TT dollar. Obika also criticized the proposed replacement of the Value Added Tax (VAT) system with a sales tax, calling it “a mere statement rather than a well-developed policy intervention.” He cautioned that tampering with VAT, which accounts for over 10% of government spending, without a clear replacement plan is “fiscally reckless.” Additionally, he condemned the decision to raise the National Insurance System (NIS) pension age from 60 to 65, phased between 2028 and 2036, which he said would place undue strain on workers. Obika also predicted that the new landlord tax would lead to rent increases of at least 3.6%, further burdening citizens. He concluded that the budget, rather than inspiring confidence and guiding investment, “reads more like a poem than a plan.”