Saudi Arabia is investing at least US$5 million in Trinidad and Tobago.
On Thursday, Prime Minister Kamla Persad-Bissessar SC witnessed the execution of a Grant Document from the Government of the Kingdom of Saudi Arabia to T&T, which provides for the grant valued at approximately TT$35 million.
Mrs. Persad-Bissessar made the announcement at the beginning of her speech for the distribution of land leases for former Caroni 1975 workers.
The diplomat is a Saudi Arabian Ambassador, who is resident in Caracas.
“As I greet all of you here today, we have a special guest. He has come all the way from Saudi Arabia. Please welcome him to Trinidad and Tobago as a diplomat. Thank you, sir. Excellency, thank you for being here. And he didn’t come with empty hands. He came with US$5 million. Can we thank him very much? Thank you, sir. Have your seat. Excellency, as I’ve been telling everyone, Trinidad is open for business, Trinidad and Tobago, and many have heard us across the land, across the world, across the globe. He’s just one representative, but he brings so much to us, and we want to thank him again.”
Minister of Land and Legal Affairs, Saddam Hosein, explained the reason for his visit, noting that the investment is not necessarily for the development of the Caroni 1975 lands.
“I think those monies may be channelled elsewhere, however there are allocations being placed in the national budget to help us with some of these sites. The Prime Minister does have a private meeting with the Saudi Ambassador, so those details will be revealed by the Ministry of Foreign Affairs.”