Minister of Planning, Economic Affairs and Development and Minister in the Ministry of Finance, Dr. Kennedy Swaratsingh, is stating for public information that major foreign organisations are continuing to generate interest in expanding their investments to Trinidad and Tobago.
Once such company is the Italian based Campari Group, makers of the popular drink Campari and owners of over fifty other brands worldwide. Minister Swaratsingh, a team from the Ministry of Planning and the European Development Fund Unit of the Ministry of Finance recently met with the Campari Group’s Mr. Lorenzo Banfi, the Chief Financial Officer, Americas and Managing Director of Partnership Markets and Mr. Antonio Vita, Director, Central America and Caribbean Partnership Markets along with a team from Ansa McAl. The purpose of this meeting was to explore potential areas of foreign direct investment for the Campari brand that can “both generate, as well as drive further economic growth in Trinidad and Tobago”, as the Minister stated.
This is in keeping with Minister Swaratsingh’s thrust to enable increased private sector driven economic development in Trinidad and Tobago.
The discussions with the Campari representatives focused on tourism, with emphasis on eco-tourism opportunities. Also raised were possibilities for investment in real estate as well as creating a regional retail hub in Trinidad and Tobago. Minister Swaratsingh emphasised the government’s goal to generate public private partnerships (PPPs) and other new business models to be additional economic catalysts in Trinidad and Tobago. The Planning Minister also outlined the work underway to revitalise and transform current public infrastructural assets worth millions, into viable economic outcomes.
In addition to meeting with the Campari group, Minister Swaratsingh and Minister Satykama Maharaj, Minister of Trade, Investment and Tourism also hosted an Investment Mission on the Maritime Sector organised by the European Union delegation and EU Ambassador Cécile Tassin.
This mission included major international companies involved in marine and port related businesses such as Stowlog from Spain, which deals with safety and security management solutions for port logistic facilities; SOGET/CEIBA from France which specialises in communication software innovation for the performance of ports and airports; Italian company Savino Del Bene, a global leader in international shipping and logistics; Danphone from Denmark which provides coastal radio solutions and maritime safety information systems; Navale Nattero, a Genoa-based maritime engineering firm specialising in ship design and other marine based activities; the Jifmar Offshore Services Group from France; Lamor from Finland, which provides environmental solutions and FRS Express des isles, a leading maritime ferry company in the Caribbean.
Some of these companies already conduct business in Trinidad and Tobago and are interested in expanding. The discussion with all of the representatives focused on their interests in expanding the range of businesses in Trinidad and Tobago in sectors such as oil and gas support services as well as marine safety and security, coastal communication solutions, marine vessel design, freight and logistics services, marine passenger transport, port development, petrochemical hazardous waste management and other areas that will generate employment, economic transformation and provide other benefits.
Minister Swaratsingh states that the interest being demonstrated by these major international companies is proof that Trinidad and Tobago is an attractor for global foreign direct investment that can create jobs and further stabilise our economy.