Based on this country’s exemplary success in creating a globally competitive petro-chemical sector, the "Trinidad and Tobago model" is a recognized brand among actors in the international petro-chemical economy.

With projects already implemented in the sector and those to come on stream by 2010, Trinidad and Tobago has in place a platform, for the downstream manufacture of steel, aluminum and plastic products. The prospect of a twenty-first century industrial revolution in Trinidad and Tobago is therefore likely, and indeed expected.

It is axiomatic, however, that oil and gas resources are finite. Consequently, the critical issue in respect of sustainable economic development becomes how to increase Gross Domestic Product (GDP) when oil and gas production begin to decrease.

The solution lies in the sustainable development of the non-energy sector and, as a pre-requisite, the attraction of investment into this sector.

In the Introduction FDI is defined, as generally "every kind of asset", except assets not acquired in the expectation, or used, for business purposes. Trinidad and Tobago’s investment climate is described in Chapter 1 and the primary instrument in this regard, is the Foreign Investment Act of 1990. Other legislation includes the Finance Act, the Insurance Act, the Tourism Development Act and the Telecommunications Act.

Chapter 1 also provides an overview of the country’s legislative framework, and its economic, geographical and socio-political characteristics. It is contended that these characteristics underscore the attractiveness of Trinidad and Tobago as a location for FDI and include: strategic location; sound macro-economic fundamentals; good infrastructure; low corporation tax; low energy costs; a skilled labour force; political stability; exchange rate stability; and English speaking population and access to a wide array of markets. Regional and international organizations to which there is membership; the incentive regime; the investment approval process; the state and company actors involved in investment activity; and the promotional agencies are also examined.

Recommendations for the introduction of new, more comprehensive foreign investment legislation to replace the Foreign Investment Act, 1990. The elements of the new Bill not included in the 1990 Act are reviewed. These include national treatment; transfers, key personnel and dispute settlement. A number of measures to reprise the investment climate and rejuvenate investment promotional activity are also explored in this section. These measures include:

1. adding domestic value;

2. reserving sectors for national development; earmarking emerging sectors;

3. expediting the approval processes;

4. promoting joint ventures with foreign companies;

5. improving training;

6. enhancing communication;

7. providing finance for new enterprises;

8. participating in conferences and trade fairs, conducting foreign missions; and

9. advancing investment promotion.