Minister of Trade, Industry and Tourism, Senator Satyakama Maharaj, is resolute in his commitment to transforming the country’s economic outlook through innovation and diversification.
Noting that the narrative for many years centred around this country’s thrust to diversify the economy from the oil and gas sector, Minister Maharaj aims to do this successfully through competent leadership and innovation, using the resources already available to make Trinidad and Tobago more attractive to foreign business.
“Our focus is on generating national revenue, earning and preserving foreign exchange, and attracting both local and foreign investment. We are committed to supporting and strengthening local businesses and institutions, creating meaningful and sustainable jobs while advancing our technological capacity and skills development.”
Minister Maharaj said there is no evidence that the previous government made efforts toward the diversification of the country’s economy.
He said his Ministry inherited a discontented business sector and an environment not conducive to good private sector relations. This, he said, will be addressed in the short term. Succeeding in this, the Minister said, will see Trinidad and Tobago graduate to first-world status.
“Economic indicators are spiralling downward. That’s the reality. I am not here for theatre or for graphics or branding. I’m here to tell you what the reality is. We can either continue heading in that downward direction and becoming a nation of traders and a failed state, or we can change course and steer our country towards first-world status.”
Highlighting the Tobago tourism industry and Trinidad Carnival as examples of avenues that will be explored to bolster the economy, Minister Maharaj said it is not business as usual, and bold steps will be taken to ensure long-term growth.
“With bold leadership, strategic clarity, and unified national action, we will secure her economic future, not only for today but for generations to come.”
Minister Maharaj promised that a major project is in the pipeline that will transform the economic landscape, changing the economic trajectory in a positive direction.