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World Investment Report 2014: T&T misses out on global increase

World Investment Report 2014: T&T misses out on global increase

Posted by Shanelle Weir on June 27, 2014

T&T received very little of the increased global investment recorded last year, Racquel Moses, president of InvestTT said yesterday. “Globally there was a nine-per cent growth in investments but we did not see that growth in T&T and we did not see that growth at Invest TT,” she said at the launch of the United Nations Conference on Trade and Development (Unctad) World Investment Report 2014 at the Arthur Lok Jack School of Business, Mt Hope.

Moses said Unctad was projecting a ten-per cent growth in global investment this year and 13-per cent growth next year. T&T is expected to capture some of that global market, she said. 

“We believe that we will catch up in terms of that growth. Developing nations now have a serious share of the global investment but it is a peak that is not anticipated to continue. That means for T&T, the Caribbean and our region it will begin to get more competitive. From an investment promotion standpoint it is already competitive in attracting investment,” she said. Moses said T&T does not have brand recognition which would help foreign investors quickly recognise opportunities in this country.

“So we do not make the long list that T&T is being considered and it is even more difficult to get on the short list,” she said. The InvesTT president, who wants investors to work with Government on sustainable projects, added: “We want to show investors that investments into sustainable investments programme is good business. “We want investors to partner with us to generate returns. What that requires is a partnership among the Government, investors and other.”

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