Industrial Development/Inward Investment Unit
The Industrial Development and Inward Investment Unit is responsible for formulating, monitoring and evaluating policies and also implementing recommendations and action plans relating to industrial development and investment promotion. Objectives To create a vibrant, dynamic and internationally competitive non-oil sector that would foster sustainable diversification of the economy to generate increased levels of employment and exports. To formulate investment policies, to promote industrial development in Trinidad and Tobago and to enhance the growth of productive capacity in the non-oil sector of the economy through domestic and foreign direct investment. To negotiate bi-lateral investment treaties between Trinidad and Tobago and other countries, to produce an agreed framework which would guide reciprocal investment. To facilitate the development and expansion of private enterprise. To promote and develop small and medium sized businesses with the aim of expanding the nation's capacity to export.
The Ministry in collaboration with the Tourism and Industrial Development Company (TIDCO) is spearheading the development of industry through the strategy of clustering. This approach entails special initiatives that focus on developing the whole system of networks and services of an industrial cluster. Sectors identified for cluster development are as follows: Benefits of Clustering
Working in clusters will enable small companies to compete in the global marketplace. Companies can specialize in the production of intermediate products to supply the manufacturer of a final product in a vertically integrated cluster. Economies of scale to be derived from large scale vertically-integrated production. Increased potential and capacity to export goods that are competitively priced. To Top | 
