Minister of Trade, Investment, and Tourism, Satyakama Maharaj, has lauded the TT$1.25 billion reinvested in the non-energy manufacturing sector through 80 strategic initiatives over the past year, saying it “strongly signals confidence in T&T’s trajectory.”
The Minister made the statement during an address at the Trinidad and Tobago Manufacturers’ Association Annual Dinner and Awards on Tuesday evening.
“The manufacturing sector, excluding petroleum and chemical products, contributed an estimated US$10.6 billion, a significant increase in 2025.”
Minister Maharaj said, “the manufacturing sector isn’t just surviving, it’s thriving.”
Highlighting that the non-energy sector made 80 reinvestments worth TT$1.25 billion in the past year alone, he emphasised that the Ministry remains fully committed to fostering the sector’s growth and competitiveness.
“Through targeted incentives, trade missions, and investment facilitation, we are working to ensure that our manufacturers have the resources and the guidance needed to thrive in both national and international markets.”
The Minister pointed out that the government has set targets to optimise the sector’s potential.
“Together with the private sector, we are aiming for export growth of US$2 billion in two years, and US$5 billion in five years. As it relates to investments, we are aiming for US$3 billion in new investments over the next two years and US$9 billion in investments over five years, as well as the creation of 3,000 jobs.”
The TTMA President, Dale Parson, said the Association continues to “lay the groundwork” for SME transformation, which represents 65% of all manufacturers locally, to generate their own foreign exchange.
“Extensive work has been undertaken to enhance their export readiness and visibility, from strategic placements at TIC, pop-up shops to active participation in overseas trade missions and ongoing collaboration with EximBank.”
The CEO of the TTMA, Dr. Mahindra Ramdeen, noted that the non-energy manufacturing sector carried T&T back in the 1980s and is prepared to do it again.
“We just need the collaboration and the work of the government, Export TT, Global TT and all these entities to work with us to create that enabling environment because we are confident that the goods and services that we produce are world-class and could compete with the entire Caribbean region.”
Minister Maharaj indicated that his Ministry intends to launch a ‘Patriotic Buy Local, Build Trinbago National Campaign’ before the end of 2025, aimed at reducing imports, conserving forex, and strengthening domestic supply chains.