Secretary of Finance and Enterprise Development, Mr Joel Jack met last week with members of the Tobago Division of the Trinidad and Tobago Industry of Chamber and Commerce to discuss avenues for collaboration and strengthening the island’s economy. The Chamber shared with the Secretary their concerns and experiences operating on the island and their recommendations for reinforcing mechanisms within the Division and the THA to improve efficiency and expand the business sector.
At the meeting Secretary Jack shared updates on fiscal 2015, the Assembly’s strategies for ensuring prudent management of Tobago’s resources, the island’s GDP data, labour force statistics, existing THA projects and initiatives being considered to increase access to capital, investment and support economic diversification on the island. Several key THA enterprises were also represented at the session. They included the Tobago Information Technology Limited (TITL), the Eco Industrial Development Company of Tobago (E-IDCOT) and the Tobago Venture Capital Equity Fund Limited as well as the Division of Finance and Enterprise Development’s Business Development Unit (BDU). Participants shared with the Secretary a number of proposals for stimulating enterprise on island.
The meeting also discussed the issue of the island’s productivity, challenges being experienced with the acquiring of foreign exchange as well employment and human resource matters. The Secretary committed to making use of the recommendations of the Chamber particularly as they related to tightening the linkages between THA enterprises and increasing the efficiency of the operations within the THA to facilitate the business community. The attendees also reaffirmed their commitment to continue to promote discussion, share information and identify areas for collaboration to advance the development of Tobago.