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The economic recession in recent years has forced the government to closely examine its consumption of foreign goods, and to prioritise domestic production and self-sustainability. The push towards wider economic diversification has highlighted agriculture as a potential sector for transformation. While the state has shown a commitment to change, Trinidad and Tobago still has room for improvement as it continues its journey towards increased food security. To ensure food security and sustainability, T&T must invest in initiatives that will build out its agricultural capabilities and place the local food system on a solid foundation that values both staple and export crops. Planned rehabilitation efforts can only be successful if the government and private investors alike continue showing commitment to and interest in the rehabilitation of the sector. This chapter includes an interview with Joe Pires, Managing Director, Caribbean Chemicals and Agencies.

The banking sector in Trinidad and Tobago maintained profitability and consolidated its financial stability in 2017, in conjunction with broader improvements in economic health. Banking is poised to play an important role in supporting the country’s continued development, with executives in the sector expecting T&T’s solid economic performance in 2018 to continue into 2019. In a May 2018 public address, Colm Imbert, the minister of finance, announced that the country was on the road to an economic rebound. In the near term, domestic banks are seeking to hone their competitive edge and enhance their capacity for dealing with technological change as the economy evolves and expands. This chapter features interviews with Ronald Harford, Chairman, Republic Financial Holdings; and Karen Darbasie, Group CEO, First Citizens Trinidad and Tobago.

In conjunction with PwC, OBG explores Trinidad and Tobago’s taxation system, examining a wide range of areas of special interest to international investors, such as income and corporate tax, petroleum profit tax, withholding tax, VAT and customs tax, among others. This chapter features a viewpoint with Brian Hackett, Territory Senior Partner, PwC Trinidad and Tobago.

With global energy prices recovering and a new natural gas project now on-line, some predict an end to T&T’s recession in 2018. In May 2018 the Ministry of Finance reported that as energy activity recovers and other sectors begin to grow, tax revenues will likely exceed expectations, and the fiscal deficit was revised down from 3.1% of GDP in 2018 to 2.5%, compared to 8% in 2017. However, while a rebound in the energy sector is welcome, it is other industries that require the majority of government focus if the country is to become sustainably diversified and financially secure for the long haul. This chapter contains interviews with Allyson West, Minister of Finance; Patricia Ghany, President, American Chamber of Commerce of Trinidad and Tobago; and Derek Chin, Chairperson, Movie Towne.

This chapter contains selected listings of some of the country’s top hotels, details for embassies, ministries and organisations, and helpful tips for business and leisure travellers.