A national drive is gaining pace in Trinidad and Tobago to prioritise access to data services as an engine for economic growth, part of wider plans to reduce the country’s reliance on hydrocarbons.
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Plans to reinforce human resource and hard infrastructure capacity, along with the development of a medium-term strategy and the strengthening of a competitive incentive regime, could help position Trinidad and Tobago’s vibrant film sector at the centre of the region’s audio-visual industry.
Economic update | Affordable housing and construction reforms on the agenda in Trinidad and Tobago
21 Apr 2017
Increased investment in low-cost housing, improved access to home loans and streamlined procedures for building applications should feed into a stronger performance from Trinidad and Tobago’s construction sector in the near term. However, delays in payments for work completed, plus lengthy bureaucratic procedures, continue to pose challenges to expediting construction works.
As the outlook for the energy sector improves, there are signs that broader economic activity could pick up this year as well.
Increased state investment and new incentives for the private sector to encourage expansion in Trinidad and Tobago’s agro-processing industry, while also spurring growth in primary production.
Lower returns from the energy sector due to weaker prices and a drop in production weighed down Trinidad and Tobago’s economy in 2016, though stronger prospects for the industry in the new year should fuel a rebound in 2017.