Attractive incentives for the Maritime Sector on the horizon
‘Caribbean Maritime Competitiveness: The Marine Industry Opportunity’ was the theme of one of the well-attended Parallel Sessions held at the Caribbean Investment Forum (CIF) on Monday 10 June, 2013 at the Ballroom, Hilton Trinidad and Conference Centre. In keeping with the Government’s thrust to diversify the sector away from oil and gas, the Maritime Session was designed to offer maritime industry stakeholders and investors an opportunity to discuss best practices and new developments on an international scale. The session highlighted past, present and future of ship repair and drydocking industries and new investment opportunities in the sector.
The Minister of Trade, Industry and Investment, Vasant Bharath set the tone for the session by enunciating the Government’s policy position for the Maritime Sector. Minister Bharath said ‘there are tremendous opportunities for ship repair and maintenance in T&T’, adding that ‘we have a yachting sector which continues to develop informally and has huge investment potential’. To nurture and develop the sector, he announced that the Government will soon be providing a number of incentives to encourage foreign investments in the sector.
Other speakers at the Maritime Session included Mr. Soo Hyun Kang, Past CEO of Hyundai Samho Heavy Industries Co; Mr. David Jiang, China Harbour Engineering Company, Mr. Chivon Thornhill, Managing Director, New World Shipyards.
Day One of the 3rd Annual Caribbean Investment Forum, with some twenty-seven participating countries, saw the Keynote Address being delivered by the Honourable Prime Minister of the Republic of Trinidad and Tobago, Mrs. Kamla Persad-Bissessar, on the theme ‘Fuelling Competitiveness through Entrepreneurship and Innovation’; with headline speaker in the person of Ben Cohen, Co-Founder, Ben and Jerry’s.
Other Sessions were held on ‘Powerful Potential! Driving the Caribbean Public-Private Partnerships Forward – the Canadian Model’; ‘Agribusiness: The value added opportunity’; and ‘Partnerships in Films’.
Day One concluded with the hosting of a Caribbean themed Welcome Cocktail Reception for all delegates, hosted at the Poolside, Hilton Hotel and Conference Centre. The novelty at the Reception was the hosting of a fashion show, showcasing four local designers, including Heather Jones and Claudia Phegus; with a runway suspended over the hotel’s pool. Guests’ palates were also treated to local gourmet experience.
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Contact:
Yolande Agard-Simmons
Manager, Corporate Communications
Ministry of Trade, Industry and Investment