UNC Chairman & Pointe a Pierre MP Lee – Another “Nothing” Committee appointed by Government
Once more Government has instituted another “nothing happens ” committee in the form of the Cabinet appointed Inter ministerial Committee for the approval and facilitation of investments in the non energy sector. It is quite disturbing that after 20 months in office, within an economic climate that has seen vulnerable energy markets coupled with consistent contractions of our national economy the Minister of Trade has now seen the importance of Foreign Direct Investment and Diversification.
The questions must be asked ” What has the Minister of Trade and Investment been doing in the past 20 months ?”
Why is the Minister of Trade trying to “recreate the wheel” on Foreign Investment by speaking on it’s importance as well as trying to find the conditions which foster Foreign Direct Investment? The nation is fully aware of the critical role Foreign Direct Investment plays in our national economy as the last administration paved the way by generating substantial amounts of Foreign investment in the past years.It was simply a task of this administration seeking to continue with these plans and improving upon the framework which was laid, however from day one this Government has failed to be aggressive, innovative or even diligent to work towards encouraging Foreign Direct Investors into Trinidad and Tobago’s economy.
The Minister of Trade and Investment’s failure to deliver on her mandate is evident in the fact that in 2015 half of the Caribbean Region’s inflow of Foreign Investment was channeled into the Trinidad and Tobago Economy while in 2017 when asked about the status of Foreign Investment since assuming office the Prime Minister said that Trinidad and Tobago had earned “small amounts” of Foreign Investment. When one adds it up it totals less than 50 million dollars. One clearly sees that Trinidad and Tobago was on the right path to sustaining investment which would have provided jobs , foreign exchange as well as greatly facilitated diversification but due to the incompetence , absence of a sustainable plan and vision by this administration we have fallen into an abyss of economic stagnation
Given the number of Committees this Government has enacted to mask it’s incompetence and inability to deliver timely development for the people of Trinidad and Tobago they should be known as the “Committee Government”. Time and time again the nation has seen many committee established by this administration and most have provided no tangible benefit to the citizens of this nation, no value for money and have all failed to accomplish it’s preset aims as might be the case with this one.
Yet again citizens can expect no fruitful deliberation or policy to improve Trinidad and Tobago’s well-being from this initiative based on the dismal record of failure of this Government which has allowed over 21,000 jobs to be lost since taking office, borrowed Billions of dollars without creating any revenue earning measures , allowed the national economy to be downgraded to junk status and have sat idly by as the nation is plunged into a crime catastrophe.