A Guide to Investing in Trinidad and Tobago (2011) - Ministry of ...

Opportunity For Investment:
With soca music now a category at the American Music
Industry Grammy Awards, and international record
labels deliberately courting young local artistes, the
music/entertainment industry provides opportunities
to invest in the development of new talent. Co-financing
arrangements with international record labels can
generate significant profits. There are business opportunities
in the establishment of appropriate performance
spaces, recording studios, as well as training
and work facilities for the arts. Significant opportunities
are emerging in terms of hosting regional music
festivals and entertainment events.
Printing And Packaging
Trinidad and Tobago is regarded as a leader in CARI-
COM and the wider Caribbean with respect to its
competitiveness in printed products, packaging fabrication,
usage and design, which resulted in increased
market share over the years. Exporters in this industry
have also managed to penetrate extra-regional markets
such as South Florida, Costa Rica and Mexico.
Sector Profile:
There are approximately 225 companies in the printing
and packaging industry in Trinidad and Tobago
ranging from small to large. Although the printing subsector
accounts for the largest number of firms, the
plastic packaging sub-sector has over seventy-seven
percent (77%) of the firms in the medium to large categories.
Printing and packaging is integral to many other industries
and services, such as food and beverages,
tourism, agriculture, education and advertising, to
name a few, where established linkages exist. In
2004, approximately TT$2Bn worth of investment
was fuelled into the printing and packaging industry.
The total worth of products exported in 2004 was
approximately TT$306.4M, which generated employment
of approximately 3,963 persons.
In addition, since 1999 the industry has contributed
58 A Guide to Investing in Trinidad and Tobago (2011)
3.0% annually to the country’s GDP. The market value
of paper and board packaging is expected to grow,
due to the inherent characteristics of these materials,
which make them easier to use, less expensive,
printable and recyclable. Plastic packaging is also expected
to grow in volume and value because of its
flexibility, as form-fill seal applications become more
common among manufacturers. Metal packaging also
has growth potential, for example, in the use of material
for self-cooling and heating as well as embossed
shaped cans. Similarly with glass packaging, there is
expected to be growth in conjunction with developments
in the alcoholic beverage and food sectors.
Opportunity For Investment:
There is potential for significant growth in this industry
through joint ventures and strategic alliances with
larger and more competitive manufacturers. Relationships
with these firms can also facilitate technology
transfer. Investment opportunities exist in education,
training and equipment upgrade. One specific opportunity
is to enhance the graphic arts capabilities
through establishment of a world-class training facility.
This provides the opportunity for a possible joint venture
between local industry and foreign partners with
support from Government.
Tourism
Trinidad and Tobago is a major destination of choice
for both business and tourist visitors. The most southerly
of the Caribbean islands, this twin-island republic
is located just below the hurricane belt and at the
crossroads of North, Central and South America.
This country is well positioned for significant growth in
tourism owing to its strong economy, abundant natural
resources, state-of-the-art technologies, well developed
infrastructure and highly literate labour force.
Opportunity For Investment:
This country is envisioned to become one of the most
sought after destinations 365 days for the year for
business and leisure visitors. Trinidad, due to growth
in the energy, manufacturing and services sectors,
has earned the title of “Business Capital of the Caribbean.”
The country is well-known for its business
tourism, conferences and exhibitions and is being
marketed for meetings, conventions, expositions,
cruise tourism and yachting; whilst Tobago retains its
position primarily as a destination for leisure, soft adventure
and eco tourism, it is actively being promoted
as the place for dive, honeymoons and weddings.