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Paragraphs Related to the Theme Paragraphs VII Summit
Reports
Date:  1/21/2011 
In relation to the development of the business sector and other productive economic sectors it is important to note that the Government of the Republic of Trinidad and Tobago has identified seven (7) targeted non-energy sectors for the diversification of the economy away from the helms of the non-renewable energy sector. These sectors are:
-Film;
-Fish and Fish Processing;
-Food and Beverage;
-Merchant Marine;
-Music and Entertainment;
-Printing and Packaging; and
-Yachting

To this end, Industry Specialists and relevant secretarial support have been mobilized to develop and grow these Sectors so as to assist in the diversification of the economy. Strategic Plans have also been developed for all seven (7) Sectors and are currently being executed. Furthermore, a range of incentives have been provided that are sector-specific to individuals and companies in the above-mentioned Sectors to assist the various sectors. In all Sectors Industry Development Committee, Industry Development Boards or Industry Development Councils have been approved by Cabinet and are functioning to move the Sectors forward.

The Ministry of Trade and Industry has recently developed a Draft Investment Policy focusing on ten (10) sectors that are earmarked for increased investment in Trinidad and Tobago. Two (2) of these sectors are Tourism and Information and Communications Technology (ICT). As such, emphasis has been placed on further developing and growing these sectors among other non-energy sectors. Another of the ten (10) sectors identified for investment is that of Financial Services. It must be noted that a clear relationship can be traced between the provision of Financial Services and Information and Communication Technology linking the two (2) sectors.
Paragraphs: 13 Paragraphs VII Summit: -

Date:  1/21/2011 
The Enterprise Development Division is charged with the following responsibilities:

-To develop policy and co-ordinate its implementation and make necessary intervention with the approval of the Minister to ensure that policy implementation is on course;

-To provide advice and consultation to the Minister with regard to the different arms of the institutional structure;

-To manage inter-institutional and inter-agency relationships;

-To perform a supervisory role on behalf of the Minister by receiving and reviewing reports;

-To monitor the performance of the small and micro enterprise (SME) sector, the National Entrepreneurship Development Company (NEDCO), the Small and Micro Enterprise Development Fund, the Small Enterprising Businesses Assocation or any other organization receiving Government subventions for SME development;

-To address and resolve the following issues with the assistance and collaboration of NEDCO:
*availability and access to sources of funding
*integration of support programmes and services
*proliferation of agencies and the need for collaboration, co-ordination and/or rationalization among micro and small business assistance agencies
*development, streamlining and synchronization of policies, legislation and regulations that impact on the SME sector

Actions taken by Trinidad and Tobago in support of SMEs:

-Business Development Service and access to credit facility

-Fair Share Programme

-Greater access to Information on the Market

-Cooperative Development
*Micro-Enterprise Loan Facility (MEL)
*Micro Enterprise Training and Development Grant (MEG)
*Poverty Reduction Programme
Paragraphs: 20 Paragraphs VII Summit: -

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