SAUDI ARABIAN businessmen have set their eyes on Trinidad and Tobago for investment opportunities.
InvesTT president, Sekou Alleyne presented investment opportunities in Trinidad and Tobago to an audience of Saudi investors during last week’s Saudi-Caribbean Investment Forum in Punta Cana, Dominican Republic.
The forum, hosted by the Caribbean Association of Investment Promotion Agencies (CAIPA) in collaboration with the Ministry of Investment for Saudi Arabia (MISA), was attended by representatives of some of the largest firms in Saudi Arabia, in addition to Caribbean IPAs and government representatives from both regions.
InvesTT in a news release yesterday, said Saudi Arabian businessmen showed particular interest in infrastructure projects, renewable energy as well as large tourism developments.
The Saudi Arabian Ambassador for the region, based in Venezuela, also expressed interest in visiting Trinidad and Tobago to follow up on more specific opportunities for Saudi firms.
According to Alleyne, who is also a director of CAIPA, the high participation from companies at the Forum indicates that investors are still eyeing the Caribbean for opportunities.
“My presence there fit squarely into InvesTT’s foreign direct investment mandate to reach out and connect with international investors, with the ultimate aim of persuading them to establish a business in Trinidad and Tobago. It is important for the country to have increased visibility as a short-list investment location as this will directly impact our potential for a speedy post-pandemic economic recovery and growth,” Alleyne said.
He explained that InvesTT has already surpassed its FDI target for Fiscal 2022 by 146 per cent and achieved its target for local direct investment (LDI) by 100 per cent.
As InvesTT promotes investment opportunities in the areas of Manufacturing, Business Process Outsourcing, Maritime Services and Logistics, the agency said it’s also actively seeking tenants for the Government’s industrial estates that are managed by e TecK, such as the Phoenix Park Industrial Estate, the Moruga Agro-Processing and Light Industrial Park and the Tamana InTech Park.
In June, InvesTT, announced the confirmation of two Chinese companies to tenant e TecK’s Phoenix Park Industrial Estate.
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