The Report: Trinidad & Tobago 2017 - Product Image

The Report: Trinidad & Tobago 2017

  • ID: 4437448
  • Country Profile
  • Region: Trinidad and Tobago
  • 216 Pages
  • Oxford Business Group
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The oil and gas industry has historically been Trinidad and Tobago’s primary economic engine, but it has faced challenges in the low-price environment of 2014-2016. Strategic decisions are now required across the entire value chain, from incentivising upstream production to improving refinery profitability in the mid-stream and boosting capacity utilisation downstream.

After facing pressing short-term fiscal priorities during its first year in office, the current administration has begun a process of fiscal adjustment and is beginning to tackle longer-term issues, such as economic diversification. Getting the country onto a stronger and more sustainable growth path will depend on delivering deeper reforms and effectively managing a new generation of public-private partnerships.

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COUNTRY PROFILE
Strong fundamentals: Stable political and macroeconomic foundations are set to assist in weathering challenges
Viewpoint: Prime Minister Keith Rowley
Paradise found: The island nation has a rich and vibrant culture
Interview: David Granger, President of the Cooperative Republic of Guyana
The path to self-rule: A new draft bill could increase Tobago’s autonomy within the twinisland republic

ECONOMY
Recovery in sight: Government takes action to balance the books after its fiscal position hit by lower energy revenues
Interview: Paula Gopee-Scoon, Minister of Trade and Industry
Cutting red tape: Initiatives to ease trade procedures and ensure quality aim to increase trade flows
Interview: Augusto Arosemena Moreno, Minister of Commerce and Industry of Panama
Planning ahead: The central bank is modernising its regulatory functions
Viewpoint: Marla Dukharan, Group Economist, Royal Bank of Canada (Caribbean)
In a key role: Private sector development is vital to stimulate the economy
Interview: Terrence Farrell, Chairman, Economic Development Advisory Board

TOBAGO
Poised for take-off: Development plans emphasise the need to transform and diversify the economy
Interview: Kelvin Charles, Chief Secretary, Tobago House of Assembly
High priority: Tourism sector set to benefit from major investment
Better connections: Improving transport links is vital for the development of the local economy
Go local: Agro-processing holds potential for development

BANKING
Prudent practice: Domestic banks are adopting many international standards
Interview: Anya Schnoor, Managing Director, Scotiabank; and President, Bankers Association of Trinidad and Tobago
Increasing access: Use of electronic payments may improve financial inclusion

CAPITAL MARKETS
Slow and steady: Liquidity remains a challenge to developing deeper capital markets
Interview: Subhas Ramkhelawan, Managing Director, Bourse Securities
Crystal clear: New legislation is expected to provide a clearer picture of capital market trends
Market analysis & data provided by Bourse Securities
To-do list: Cross-listed stocks are helping support the market
On the market: Fiscal needs are spurring government bond issues
Keeping up: Larger economic and market drivers are coming together

INSURANCE
Holding fast: A trying year has ended with most providers in the black
Interview: Ravi Tewari, Group CEO, Guardian Group

ENERGY
Bouncing back: The sector is aiming to address various challenges and reverse the recent decline in production
Interview: Derek Hudson, Vice-President, Shell Trinidad and Tobago
Supply side: A review of the upstream segment to help address slowing output of oil and gas
Management makeover: State-owned oil company faces reorganisation
Interview: Mark Loquan, President, The National Gas Company of Trinidad and Tobago
Broadening the scope: Energy companies are looking for expansion opportunities in the region and beyond
Changing times: The country is conducting analyses of both the downstream and upstream segments
Interview: Vincent Pereira, President, BHP Trinidad and Tobago; and Chairman, Energy Chamber of T&T

INDUSTRY
Positioned to grow: The twin-island republic is bolstering non-energy manufacturing exports and looking to new markets
Interview: Dominic Hadeed, Managing Director, Blue Waters Products
Reassessing priorities: Increasing non-energy exports is a central aim
Unexplored potential: Growth in agro-processing could lower food imports

CONSTRUCTION & REAL ESTATE
Back at it: Following several challenging years, the sector is working to get back on track with new projects
Hard bargain: Low oil prices and a new tax are taking a toll
Taking action: Ongoing schemes are tackling the housing deficit

ICT
Three is company: Liberalisation has brought a host of benefits to consumers, along with stronger competition among operators
Spoiled for choice: Consumers will soon have the opportunity to choose between three 4G providers
Leader of the pack: Despite the country’s reputation as a regional leader, authorities and business are not satisfied with the status quo
Closer to home: As online shopping grows in mportance, local retailers call for e-payment reforms

TRANSPORT
From here to there: Economic slowdown refocuses sector on long-term strategies
Vehicles for change: Replacing petrol with compressed natural gas
Interview: Rohan Sinanan, Minister of Works and Transport

TOURISM
Twin engines: The tourism industry remains a pillar of the ongoing national diversification strategy
Domestic bliss: A strong local tourism market helps reduce vulnerability to fluctuations in international arrivals
Interview: Adam Stewart, Deputy Chairman and CEO, Sandals Resorts International
All hands on deck: Rising arrivals highlight potential for growth in the cruise segment
On the radar: Interest from an international resort brand confirms the island’s potential

HEALTH & EDUCATION
In good shape: Sector tackles communicable diseases head on and works towards long-term strategy to combat lifestyle-related illnesses
A new approach: Reforms to tertiary-level grant system roll out as the sector examines ways to better prepare students for the job market
Interview: Brian Copeland, Pro Vice-Chancellor and Principal, The University of the West Indies

TAX
Letter of the law: Comprehensive review of the tax framework
Viewpoint: Angela Lee Loy, Chairman, Aegis Business Solutions

LEGAL FRAMEWORK
Paving the way: The national legal system is ideal for foreign investment
Viewpoint: Hadyn John Gadsby, Senior Partner, J.D. Sellier + Co.

THE GUIDE
Music is the message: Sound, colour and culture of Carnival
Lights, camera, action: Trinidad and Tobago sharpens focus on film
Interview: Machel Montano, Soca Musician
Island getaways: Selected accommodation options on both islands
Listings: Directory of government and business organisations
Facts for visitors: Helpful information for first-time arrivals

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