Trinidad & Tobago Investment & Trade November 2012 • Vol 1 • Issue 2
Investment Opportunities in ICT
invesTT Insight – Trinidad and Tobago Investment & Trade
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ICT as an enabling industry for development in Trinidad & Tobago Submitted by the Economic Development Board
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rinidad and Tobago, a twin-isle nation located in the Caribbean Sea is not only rich in culture but also in natural resources such as oil and natural gas. The energy sector accounts for 45% of the country’s GDB, around 80% of exports but only 4% of employment. Given these statistics, the fact that such resources are finite and that the industry is becoming increasingly more competitive due to many new discoveries around the world, there is an urgent need to diversify the economy. The Government of Trinidad and Tobago has identified six cluster industries for the sustainable socio-economic development and diversification of the country’s economy. These are: Energy (with a focus on added value petrochemicals, renewable energy and energy services), Food Security and Sustainability, Marine Industries, Culture and Creative Industries, Tourism (ecotourism and medical) and Financial Services. It is recognised that a number of enablers will be needed to support the development of the selected clusters and ICT is one of these. That said, it is also possible that an enabler, and in this case ICT, can be developed in its own right as an area of economic growth. The first step in the development of the country’s ICT sector is the creation of an enabling environment which requires the existence of a vibrant ICT sector, available and capable resources, and supporting legislation and policies. For the period of 2011/2012, Trinidad and
innovative workers and creative thinkers who will then be able to add positively to any sector of social or economic activity by increasing productivity and therefore, national competitiveness.
U Tobago was ranked 60th, three places higher than the previous year, by the World Economic Forum WEF based on the state of their environments, stakeholder readiness and usage of ICT. The ICT sector in Trinidad and Tobago now comprises both local and multinational companies offering an array of ICT managed services, hardware and solution provision, system integration, web and mobile application services development. As we move to a knowledgebased society, ICT becomes a critical tool to benefit society as a whole, through enhanced learning and engagement in education, employment creation, culture, sport, family and community initiatives. As an enabler to the six business clusters it will assist the nation to develop innovative people, enabling competitive businesses, promoting more efficient and transparent government and opening up the global space for export opportunities. Empowering society with affordable access to information will lead to the development of
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sing the Food Sustainability cluster as an example, ICT can play a pivotal role in food production through new approaches to farming techniques, distribution and marketing strategies. Technologies can be used to manage irrigation in a cost-effective manner, predict yields, inform of current market demand and prices and enable stronger relationships between the customers, consumers and producers. The objective of being an e-connected nation requires the GoRTT to invest in the provision of the appropriate ICT infrastructure on a national basis. However, the access to ICT is only useful if the tools can be put to practical use and in this regard it is important to focus on building the capacity of our people, institutions and regulatory framework. The GoRTT’s initiative of supplying laptops to first form secondary school students, the set up of ttconnect service centres and GovNeTT to improve access to government information and enhanced communication between government ministries and the introduction of TTBizLink to facilitate business and trade are a great start to the creation of an ICT savvy population. Initiatives like these must continue through the efforts of both private and public sectors.
invesTT Insight – Trinidad and Tobago Investment & Trade
The National ICT Plan 2013-2017
Innovation and Ease of Doing Business Contributed by iGovTT The National ICT Vision of Trinidad and Tobago is to create: “A dynamic knowledge-based society, driven by the innovative use of ICTs to enhance the social, economic and cultural development of the people of Trinidad and Tobago” The vision has been developed against the backdrop of boosting national development, bridging deficiencies in access to and usage of Information and Communication Technology (ICT), as well as improving Trinidad and Tobago’s ranking on critical ICT performance indicators. The National ICT Plan 2012-2016 is grounded in the national ICT Vision. The Plan has been named smarTT to draw urgent attention to the need to make more intelligent use of the country’s financial, human, and other resources toward the creation of lasting prosperity. Innovation and Human Capital Development has been placed at the core of Trinidad and Tobago’s National ICT Plan 2013-2017, dubbed smarTT. The aim is to build
“A dynamic knowledgebased society, driven by the innovative use of ICTs to enhance the social, economic and cultural development of the people of Trinidad and Tobago” ICT skills at all levels, leading to an expansion in creative thinking, entrepreneurship, and innovative solutions. The long-term goal is to transform Trinidad and Tobago into a nation where people are the most valuable resource. smarTT puts forward programmes and initiatives aimed at developing innovative and creative thinkers from the primary school level and beyond. This will be accomplished through interventions that systematise the innovation process. The Plan proposes that the number of science, technology and ICT fairs be expanded, funding and competitions that reward and stimulate innovative ideas be
established, and assignments/ projects with students from different geographical areas through borderless, digital classrooms, be promoted. As Trinidad and Tobago moves along the ICT development trajectory and shifts focus from “Connectivity” to “Usage and Creation”, citizens and local organisations need to evolve from being users to creators of electronic content. This will entail inculcating an “upload” culture that celebrates the ingenuity of the nation’s people and the richness of a diverse heritage. Content owners will be galvanised to create digital content through targeted interventions. In this regard, smarTT proposes that web production incentives, including financial and research grants, be made available to academia and commercial entities. Further, national awards should be instituted to recognise innovation through ICT-usage, with an emphasis on “local content creation”.
The National ICT Plan 2013-2017 continues on next page
invesTT Insight – Trinidad and Tobago Investment & Trade
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The National ICT Plan 2013-2017 from previous page
smarTT has placed special focus on moving from the initial stage of “ideas” to the actual creation of prototypes and ICT applications. A survey of university departments in Trinidad and Tobago reveals that when students and educators develop innovative applications to address local challenges, nextstep assistance is lacking; as a result, many innovative ideas never come to fruition. This becomes a great deterrent to future attempts at creation. In order to address this concern, an Innovation Centre Initiative, predicated on partnerships with world-class vendors, industry leaders and academia has been proposed. The primary objective is to contribute to the technology-led diversification of Trinidad and Tobago’s economy. The best ideas originating out of these centres will be funded by public-private partnerships (PPPs), and will be developed for use at the national level. e-Business, an important lever to improve the ease of doing business, is another key focal area of smarTT. In the National ICT Plan, Government reaffirms its commitment to the implementation of systems of authentication and
profiles across various platforms. Additionally, programmes have been put in place to strengthen the Business to Business (B2B) and Business to Consumer (B2C) marketplaces. The aim is to create an effective and facilitative environment which allows local businesses to market themselves to other businesses and consumers across the globe.
The primary objective is to contribute to the technology-led diversification of Trinidad and Tobago’s economy.
e-Payment, and intends to “lead by example” on this front. Polices will be crafted to guide the expansion of this infrastructure until private sector uptake is achieved. To minimise the difficulties associated with doing business in Trinidad and Tobago, one (1) common ID will be used through ttconnect Online – Government’s e-Services portal, to access TTBizLink – an IT-platform which allows trade and business declarations to be submitted via the Internet. This move seeks to ensure that seamless business operations can be facilitated by allowing registered users to manage one profile instead of multiple
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The above represents a snapshot of smarTT, a cross-cutting, multi-collaborative Plan which seeks to place ICT at the heart of economic diversification. As citizens and businesses become more comfortable with ICTs, the aspiration is that they will integrate new technologies into all aspects of their daily activities thus contributing to greater innovation, creativity and national development. The interconnected programmes in smarTT are geared toward realising the National ICT vision of creating, “A dynamic knowledge based society, driven by the innovative use of ICT’s to enhance the social, economic and cultural development of the people of Trinidad and Tobago”.
invesTT Insight – Trinidad and Tobago Investment & Trade
Access Companies Registry
Services online today via As the Ministry of Trade, Industry and Investment (MTII) continues the roll out of TTBizLink’s e-services, the Registrar General’s Department of the Ministry of Legal Affairs (MLA) recently joined several other Government Agencies offering online application and processing services. As a result, persons who are registered for TTBizLink can logon to www.ttbizlink.gov.tt using their ttconnect identification number and password to conduct Name Search, Name Reservation, Registration of a Business and Incorporation of a Company online.
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TTBizLink continues to be affirmed by its users. Dean Fakoory, Director of Fakoory & Company Ltd. had this to say on his experience using the Import Duty Concession e-service: “Our team at VF Packaging Limited would like to thank you for all your assistance with the application process for duty free concessions. We were very pleased with the service provided by the TTBizLink team.
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Indeed, invesTT’s clientele and the wider business community can now access a basket of several important e-services. In addition to the above outlined e-services, persons can apply online for: Animal Import Permits and Plant Import Permits from the Plant Quarantine Services and the Animal Production and Health Division of the Ministry of Food Production; Fiscal Incentives and Import Duty Concessions from the MTII; Work Permits and Work Permit Extensions from the Ministry of National Security; Import Licences, Duty Relief/ Minister’s Licences, Safeguard
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For investors, the ability to access these services online via TTBizLink represents a step forward in strengthening the enabling environment for the conduct of trade and business transactions in Trinidad and Tobago (T&T). To further facilitate the use of TTBizLink by foreign investors, several Attorneys-at-law practicing in T&T and brokers registered in T&T have already been trained in the use of, and registered for TTBizLink.
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The website application process was very straight-forward, both the design and interface made the website very user friendly. What stood out for me was the computing of totals and the ability to save the application and being able to continue on a different day or different computer. We had an overall very good experience and look forward to working with TTBizLink in the future.” In the coming year, the business community can expect more e-services from TTBizLink when Phase II of its operations comes on stream.
invesTT Insight – Trinidad and Tobago Investment & Trade
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invesTT Corner
Investor Sourcing Department Manager-Investor Sourcing – Sekou Alleyne The Investor Sourcing Unit is responsible for leading activities in targeting, attracting and securing local, regional and international direct investment to Trinidad and Tobago’s targeted growth sectors. These include: 1. Energy 2. Food Sustainability/Agribusiness 3. Culture and Creative Industries 4. Maritime Industries 5. Tourism 6. Financial Services This unit also bears the responsibility of identifying market access for investors through enforcement of the country’s trade agreements, as well as identifying areas of cost savings that will allow Trinidad and Tobago to be globally competitive in attracting investment to these niche areas. ICT, and Research and Development have been identified as enablers of the growth in all of these sectors. Within the ICT sub-sectors, investment projects are focused on software development, knowledge process outsourcing, and data centers. Trinidad and Tobago has shown a clear competitive
advantage in hosting projects in these areas due to the high quality of labour, low cost yet reliable energy, excellent connectivity and time zone proximity to Eastern Standard Time in the USA. There have been proven projects in each area. Continuing the look at ICT centred investment, the Investor Sourcing Unit also sources export led light manufacturing projects. In addition, sourcing activities are focused on Electronic Component manufacturing. This includes the assembly of components such as photovoltaic panels, inverters, charge circuits and chipsets. invesTT runs each project through its due diligence process to ensure its economic viability outside of the incentive structure and that there is a net positive contribution to national development. This strategy will allow the country to enjoy the maximum benefits of job creation, GDP growth and foreign exchange earnings. The unique combination of sector-specific expertise, knowledge and the linkages that the Sourcing Unit will create for the investor, allows for a customised approach to engaging each investor and project, as well as ensuring the successful acquisition of investments.
Sub-sector
Existing businesses in Trinidad
Software Development Business Process Outsourcing Data Centers
Medullan, Ixanos, Teleios, Digital Business Direct One, Flow, American Airlines Fujitsu Caribbean
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invesTT Insight – Trinidad and Tobago Investment & Trade
Section - Investment Opportunity Profiles
Creative Industries-Animation Studio Project: Establishment of a 50-60 seat animation studio Overview In today’s extremely competitive market, a 30-minute animation feature costs between USD 200,000.00 - 400,000.00 to produce in the US while the same feature can be produced in India, at a cost of USD 70,000.00. Trinidad and Tobago has the potential to match this cost saving. The local animation industry is at an embryonic stage and is dominated by the presence of one major studio and several smaller ones. Production is centred on advertisements for ad agencies, public service shorts for government ministries and renderings/flythroughs for the construction sector. On the education
side, the University of Trinidad and Tobago (UTT) offers an undergraduate degree in Digital Media Studies; Animation. UTT also offers a Certificate in Animation over 12 months. A matriculation path exists for students who wish to pursue the degree in animation after completion of the certificate programme. The UTT produces at least 50 graduates in 2D animation annually. PROFILE OF INVESTMENT OPPORTUNITY • Access to over 350 animators • Strong academic & government collaboration • Highly competitive connectivity and production costs • Easy access to robust ICT infrastructure
READ MORE http://www.investt.co.tt/publications/profile-creative-industries.html
Business Process Outsourcing /English Voice Services Project: Establishment of a large BPO firm/English Voice Services Overview Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or processes) to a thirdparty service provider. BPO is typically categorised into back office outsourcing - which includes internal business functions such as human resources or finance and accounting and front office outsourcing - which includes customerrelated services such as contact centre services. BPO that is contracted outside a company’s country is called offshore outsourcing. BPO that is contracted to a company’s neighbouring (or nearby) country is called nearshore outsourcing.
The Caribbean offers the largest English speaking talent pool and is fast emerging as a credible nearshore location, especially in providing voice-based Call Center (CC) services. According to an assessment report done by Avasant, a global sourcing advisory firm, Trinidad and Tobago has a high potential to emerge as a credible English voicebased destination. PROFILE OF INVESTMENT OPPORTUNITY • Ready access to available labour pool • Highly competitive wage rates • Greenfield investment opportunity • Easy access to robust ICT infrastructure
READ MORE http://www.investt.co.tt/publications/profile-business-process-outsourcing.html invesTT Insight – Trinidad and Tobago Investment & Trade
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Video Testimonial Please click to view testimonial
Columbus Communications
Events and Conferences ICT Strategy Conference July 2012 In Trinidad and Tobago, ICT is seen as a playing a vital role in the development of all sectors, businesses and social activities. Its importance and value has been endorsed by the Government of Trinidad and Tobago and it stands as one of the seven (7) pillars of development within the national economic development plan.
ICT Infrastructure development was defined along the following perspectives: • Telecom architecture • International Access & Routing • Regulatory and Legislative Initiatives • Security concerns and needs
In July 2012, the key stakeholders in government and the private sector participated in a conference to discuss and plan for the future of ICT and the supporting infrastructure necessary to achieve the objectives of providing highly affordable, accessible and quality ICT services.
“ICT is at the heart of all world business, industrial and social systems. An efficient, effective and fully functioning ICT network, which is affordable and accessible to all users and stakeholders, is essential to any nation seeking to be competitively positioned and economically developed,” says Mr. Mitchell.
The National ICT Policy and Strategy Conference, themed “Leveraging ICT to Promote Social and Economic Development” was convened to achieve overall consensus for the development of a National ICT Plan, that would provide a framework for economic & social transformation, innovation, human capital, infrastructure and sustainable development. In addition, the avenues available for ICT cooperation among Caribbean nations were explored.
The guiding principles of the outline developed for ICT infrastructure to be established include: • people-centered development pertaining to efficiency of ICT infrastructure • poverty eradication and social justice in relation to e-learning infrastructure, freedom of expression independent regulators, and equal access opportunity • A modern competitive economy for competitive telecoms and broadcasting market, as well as an enabling environment for ICT sector development
invesTT’s Vice President of Corporate Services and Capital Projects, Mr. Bernard Mitchell is a representative on the planning committee and presented on the infrastructure dimension of ICT as a nexus for Business use, education and the various challenges encountered in each area. A robust, responsive and pervasive ICT infrastructure is deemed to be critical to achieving any of the critical goals for the ICT sector.
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The strategic thrust for enhanced development of ICT Infrastructure frameworks, focused on the enhancement of internet governance, ICT usage by various stakeholder groups and the degrees of accessibility and affordability needed to be provided to users, to ensure a well-connected Trinidad and Tobago.
invesTT Insight – Trinidad and Tobago Investment & Trade
InvesTT Supports Youth in ICT at WorldSkills T&T 2012 Over 100 hopeful tertiary level students took part in the inaugural year of WorldSkills Trinidad and Tobago in the fields of Information Technology Network Systems Administration and Web Design. The best eight students in each field went on to compete for the top spots on Monday 15th and Tuesday 16th October, 2012 at the College of Science, Technology and Applied Arts of Trinidad and Tobago (COSTAATT). Our Caribbean counterpart, Jamaica has already received worldwide recognition for their gold medal at the 2010 WorldSkills Competition in the field of Carpentry (Cabinet Making). As the proud Gold sponsor of WorldSkills Trinidad and Tobago, one of invesTT’s objectives was to directly contribute to changing the perception of Technical Vocational Education and Training (TVET) amongst the nation’s youth. We know that our investment provided the youth of T&T with the chance to show, develop and test their skills in Information, Communication and Technology (ICT). invesTT has been charged with the mandate to develop targeted sectors that show great promise for growth in Trinidad and Tobago. ICT currently contributes 3.5% to Trinidad and Tobago’s (T&T) GDP and is one of the key sectors identified by the Government for growth and development. The most successful competitor in each discipline will go on to represent T&T at WorldSkills International 2013 in Leipzig,
Germany. For the past 60 years, WorldSkills International (formerly known as the “Skill Olympics”) has come to symbolise the pinnacle of excellence in vocational training. invesTT’s sponsorship of the ICTfocused competitions at WorldSkills Trinidad and Tobago 2012 speaks to invesTT’s dedication to taking an active role in developing a highly-skilled technical vocational workforce. “invesTT’s role in the promotion of this year’s WSTT ICT-Focused competition such as IT Network Systems Administration and WebDesign,” commented Omeeta Jaggernath, Official Delegate and Project Leader, WorldSkills Trinidad and Tobago. There is an existing importance on ICT careers worldwide as technology plays a pivotal in many professions. Currently there are employment opportunities in Trinidad and Tobago in areas such as Computer Programming, IT Support Specialist, Computer Systems Analysts, Software Developers, Network Administrators, Database Administrators and Web Administrators. Adrian Andrews, Senior Lecturer of Information Science and Technology, COSTAATT, explained, “We are very excited about the possibility of getting one of our students to compete in an international competition of this calibre. They have trained
extremely hard and definitely have a great chance of going to Germany. During the preparation for the competition, Information Science Technology Unit (ISTU) provided as much support and mentoring as possible; the participants were able to sit in the more advanced classes to gain from information and experience.” Said Jian Yuan Rong, 19-yearold naturalised citizen of Trinidad and Tobago who completed his associate degree in Operating Systems Management. “My goal is to win at the finals in Germany. I really want to represent Trinidad and Tobago internationally. Thus far my journey through WorldSkills Trinidad and Tobago has been extremely rewarding. I have learnt a lot in a very short space of time; I anticipate being able to compete in the international leg of the competition, [and] I will learn even more.” invesTT’s support for World Skills Trinidad and Tobago is part of its wider focus on youth through its Nex Gen Programme, which aims to build the capacity of our nation’s youth in the fields of Math, Science/ Engineering, ICT and key sporting events such as Chess, Cricket and Golf. invesTT understands the critical role that TVET plays in sustaining economic growth and diversification, as many nations are becoming increasingly reliant on the strength of their vocational sector to support economic pillars.
invesTT Insight – Trinidad and Tobago Investment & Trade
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