Finance Minister Davendranath Tancoo says international financial institutions are signalling confidence in Trinidad and Tobago’s economic direction, pointing to renewed investor interest in the country.
Speaking at the Environmental Management Authority’s Green Leaf Awards ceremony on Saturday evening, he highlighted recent developments that he said demonstrate growing global confidence in Trinidad and Tobago.
“Moody’s, it’s a rating agency which looks at financing factors. Yesterday, yesterday, announced that they are keeping the Trinidad and Tobago’s rating, but improving our outlook. The world is seeing that our country is going forward.”
Minister Tancoo also revealed that another major financial institution is preparing to establish a presence locally.
“As the Minister of Finance and as Director of CAF, the Development Bank of Latin America, I am proud to announce that the Development Bank of Latin America is also establishing a presence in Trinidad and Tobago. Construction is due to start in this calendar year and the expectation is that by 2027 CAF will have a presence in Trinidad and Tobago.”
Meanwhile, Chief Secretary of the Tobago House of Assembly, Farley Augustine, underscored the need for collaboration in attracting sustainable investments, particularly for Tobago’s tourism-based economy.
“You know what is required? Partnerships and working together. One must not compete with the other. It does not have to be a zero sum game. We can have both and we can have both in a way that sustains our environment but generates significant economic activity for our people and certainly for an island like Tobago who’s competitive advantage is in tourism.”
Tropi-Mulch Mulch Blend Limited received the Green Leaf Recognition Award for excellence in the circular economy and eco-entrepreneurship, while 3 Circles Energy was honoured for its contributions to green energy and sustainable solutions.
Other awardees included Close the Loop Caribbean, recognised for innovation in waste resource management, and Aquatik Solutions, awarded for advancing sustainable livelihoods and green innovation.