Friday 15 December, 2017

PM calls for more private investment in national development

Prime Minister, Dr Keith Rowley delivers the feature address.

Prime Minister, Dr Keith Rowley delivers the feature address.

Prime Minister, Dr the Honourable Keith Rowley is calling on the private sector to invest more heavily in the economic development of Trinidad and Tobago.

The call was made while delivering the feature address at the launch and sod turning of the Point Lisas Business Park Warehouse complex on Thursday.

The Prime Minister indicated that Trinidad and Tobago is accustomed to tremendous support from the Government. However, economists have warned that this model is not sustainable since the State is unable to continue injecting large amounts of cash into the economy annually.

Dr Rowley stated, “During the period when things were good, many persons and entities would have done extremely well and today have control over significant resources which the country needs now. For the country to move on the persons and entities that would have benefitted must now mobilize their resources.”

The Point Lisas Business Park is located 3 kilometres from the Port of Point Lisas and the Point Lisas Industrial estate. The project involves the development of over 200,000 square feet of warehouse space.

The business park will be the first to include certain features to help reduce our carbon footprint such as solar energy in the guard booths and streetlights as well as using rainwater for irrigation and bathroom facilities.

In recent budgets the Government has been encouraging input from the private sector and public/private partnerships.

A release from the Office of the Prime Minister says the Point Lisas Park is an "excellent example of how Government has taken the lead with the private sector which has formed a major part of our developmental thrust as we continue to make progress towards prosperity."