Who’s Who in Trinidad and Tobago Business
Fast Facts About Trinidad and Tobago
REPUBLIC OF TRINIDAD AND TOBAGO
|Capital:||Port of Spain|
|Main Towns:|| City of San Fernando,
Arima, Point Fortin,
|Nationality:||Trinidad — Trinidadian
Tobago — Tobagonian
|Electricity:||115 volts/230 volts (+/-6%); 60 Hz|
|Telephone:||1 (868) + seven-digit local|
LOCATION AND TOPOGRAPHY
Longitude 61.5° W
|Area:||4,828 sq km (1,864 sq miles)|
|Area:||300 sq km (116 sq miles)|
|Time Zone:||EST (Eastern Standard Time)
UTC-4 (Universal Time
|Daytime Average:||29°C (84°F)|
|Nighttime Average:||24°C (75°F)|
|Seasons:|| Dry (Jan-May)
|General elections take place every five years|
|Tobago:||Tobago House of Assembly
Local Government Body
|Head of State:||Non-executive President|
CURRENCY AND TAXES
|Trinidad and Tobago Dollar|
|Exchange Rate:||USD 1 : TTD 6.3 (May 2015)
(approx. selling rate)
|Value Added Tax:||15% on somegoods and services|
|Hotel Tax:||10% Service Charge
10% Hotel Room Tax
|Trinidad:||Piarco International Airport,
17 miles (27 km) from
Port of Spain (code ‘POS’)
|Tobago:||A.N.R. Robinson International
Airport, 7 miles (10 km) from
Scarborough (code ‘TAB’)
|Major Airlines:||American Airlines (868) 821-6000
British Airways (800) 247-9297
Caribbean Airlines (868) 625-7200
United Airlines (800) 864-8331
LIAT (800) 744-5222
Copa Airlines (868) 669-5189
Port of Port of Spain
Port of Point Lisas
Scarborough Deep Water Harbour
at the gateway to the Caribbean, the Republic of Trinidad and Tobago is renowned for its industrialised, energy export-driven economy, vibrant culture and multiethnic society. T&T is a leading regional economy with an international presence in the oil and gasbased energy industry, and a profitable and productive services sector. T&T is also pursuing a policy of economic diversification and is investing in several other sectors. Trade, investment and innovation are also policy priorities of this two-island nation as it continues its path to development.
GEOGRAPHY AND LOCATIONTrinidad
Once attached to the South American mainland, Trinidad is situated at 12 km (7 miles) north-east of the coast of Venezuela and is separated from it by the Gulf of Paria. Trinidad has three mountain ranges — the Northern Range, the Central Range and the Southern Range. The highest point, El Cerro del Aripo, is 940 metres (3,084 ft) above sea level. About 40% of all land is undeveloped forest and woodlands, although the island is experiencing rapid development. Trinidad’s Pitch Lake is the largest natural reservoir of asphalt in the world.
|Total Area:||4,828 sq km (1,864 sq miles) 81.25 km long by 57-73 km wide (50 miles by 35-45 miles)|
|Location:||Latitude 10.5° N Longitude 61.5° W|
Tobago lies 34 km (21 miles) north-east of Trinidad. Of volcanic origin, the island is a single mountain mass, although the south-west is flat or undulating and coralline. The highest peak, the Main Ridge, reaches an elevation of about 576 metres (1,890 ft). The coastline is broken up by inlets and sheltered beaches, and there are several uninhabited islets.
|Total Area:||300 sq km (116 sq miles)|
|Location:||Latitude 11.5° N Longitude 60.5° W|
Greenwich Mean Time: Minus four hours (GMT -4)
In US Winter: Eastern Standard Time plus one hour (EST +1)
In US Summer: Eastern Standard Time (EST)
There is no Daylight Saving Time (DST).
Trinidad and Tobago has a tropical climate. Daytime temperatures average 29°C (84°F) and are moderated by the north-east trade winds, while nights are 24°C (75°F). The islands have two distinct seasons: dry, from January to May and wet, from June to December. There is a short dry period around mid-September called Petit Carême. Trinidad and Tobago are just outside the usual path of hurricanes and other tropical storms, but Tobago can experience inclement weather as a result of such weather systems.
Trinidad and Tobago’s government is a parliamentary democracy. The head of state is the President, who is elected by an Electoral College of members of the Senate and House of Representatives for a five-year term. Executive power, however, is vested in the Prime Minister and Government, following elections every five years. The local government body in Tobago is the Tobago House of Assembly and its seat is in the capital city, Scarborough.www.ttconnect.gov.tt/gortt/portal/ttconnect
The Trinidad and Tobago economy grew by a disappointing 0.7% over the first three quarters of 2014. T&T’s energy sector remained an important contributor, accounting for around 42.1% of the country’s GDP in 2014. The services sector, however, with the government’s impetus to diversification, has been playing an increasingly important role, contributing approximately 57.1% to the annual GDP. Government agencies have been created with the specific mandate to attract foreign investment, export and enhance commercial innovation. Areas targeted for development include financial services, maritime, ICT, tourism, e-business and education services. Exchange Rate: TTD 6.3 : USD 1 (May 2015) GDP: TTD 179,842 (Millions) GDP Per Capita: TTD 133,677 Labour Force: 658,600 Unemployment Rate: 3.3% (2014) Inflation Rate: 5.5% (May 2015) Major Exports: Natural gas and oil, ammonia, alcohol, fertilizers, iron and steel Major Trading Partners: US, CARICOM, Spain, Mexico, France, UK, China, Venezuela, Japan, Nigeria, The Netherlands, Dominican Republic Source: Summary Economic Indicators, Central Bank of Trinidad and Tobago, Central Statistical Office, Trinidad and Tobago, Global Finance, www.tradingeconomics.com.
The financial system consists of Commercial Banks, Trust and Mortgage Finance Companies, Finance Houses and Merchant Banks Number of Commercial Banks: 8 Number of Branches: 126 Number of Automatic Banking Machines: 435 Bank Hours of Operation City Centres: Monday to Thursday, 8 a.m. to 2 p.m. Friday, 8 a.m. to noon & 3 p.m. to 5 p.m. Shopping Centres: 10 a.m. or 11 a.m. to 5 p.m. or 6 p.m.
MEETING PLACES AND CONFERENCE CENTRES
Trinidad and Tobago is one of the top five Caribbean meeting and conference destinations. Many hotels have facilities for conferences, including international brands such as the Hyatt Regency Trinidad and the Hilton Trinidad and Conference Centre. In addition to the state-of-the-art National Academy for the Performing Arts (NAPA), award-winning spots like Coco Reef and the Magdalena Grand Beach Resort in Tobago are ideal for corporate meetings and teambuilding retreats. T&T is host to more than 80,000 business travellers annually. The Tourism Development Company Limited comprises a Convention Bureau department within its organisational structure. http://www.tdc.co.tt/
The legal system is based on common law
and statutes. The judicial system comprises
magistrates’ courts and the Supreme Court,
which is made up of the High Court and the
Court of Appeal. There is a separate Industrial
Court that deals with most labour matters. The
Judicial and Legal Service Commission appoints
judges of the Supreme Court. The Attorney
General is responsible for the administration
of the legal and judicial system. Final appeal
from Trinidad and Tobago courts is to the
Privy Council in England, but consideration
is being given to replacing the Privy Council
with the Caribbean Court of Justice, which
was inaugurated in April 2005, with its
headquarters located in Port of Spain. In May
2010, the Ministry of Justice was established to
reform the criminal justice system.
PEOPLE AND SOCIETY
Population: 1,345,343 (mid-year 2014)
East Indian 35.4%
Dougla (mixed African and Indian) 7.7%
Life Expectancy Male — 71.41 Female — 77.81
Population Growth Rate: 0.4% (2014 provisional)
Birth Rate: 13.7/1000 population (2014 mid-year)
Total median age — 32.6
The educational system is based on the British system and produces one of the highest standards of education in the Caribbean. Primary and secondary level education at most institutions is free, but private school options are available for a fee. Post-secondary and tertiary education providers include The University of the West Indies (UWI), the College of Science, Technology & Applied Arts of Trinidad & Tobago (COSTAATT), distance learning tertiary-level institutions, vocational/ technical training schools and colleges, the technology-based University of Trinidad and Tobago (UTT), and the National Institute of Higher Education, Research, Science and Technology (NIHERST).
Trinidad and Tobago’s health system consists of government-funded and private hospitals, well-qualified specialists, private medical practitioners and clinics scattered throughout the islands. Specialists trained in gynaecology, paediatrics, radiology, physiotherapy, cardiology, gastrology, urology and orthopaedics work both in private practice and healthcare facilities. Medical services are free at the government-funded institutions and clinics, but a fee is charged at all others. Twentyfour- hour emergency services are available at several government and private medical facilities. There is also a 24-hour Emergency Air Ambulance Service. The new Scarborough hospital was opened in Tobago in 2012. http://www.health.gov.tt/
Trinidad and Tobago has a reliable supply of electricity with rates still among the lowest in the Caribbean. The domestic and commercial supply voltage is 110/220 volts, 60 cycles. The Trinidad and Tobago Electricity Commission (T&TEC) is the agency responsible for T&T’s electrical supply. http://www.ttec.co.tt/Water
The Water and Sewerage Authority (WASA), a state enterprise, is the sole provider of water and wastewater services in Trinidad and Tobago. http://www.wasa.gov.tt/
In 2014, the Telecommunications and
Broadcasting sectors generated an estimated
TTD 5.63 billion (USD 0.88 billion) which, as
a percentage of GDP, equates to 3.1%. This
represents a 1.9% increase in total revenues
generated by this industry compared to last
year. Mobile voice services accounted for the
majority of revenues with TTD 2.20 billion
(39.2%), followed by Internet services, which
contributed TTD 1.18 billion or 21.1%.
TSTT has, for many years, been the
provider of both landline and mobile
telephone services. Digicel, a rapidly growing
telecommunications operator in the Caribbean,
offers mobile phone services to both islands
and has also introduced fixed line and domestic
wireless services. Flow offers cable television,
Internet and landline telephone services. With
broad coverage throughout the islands, mobile
phones are an easy and available option.
Wireless Internet services are readily available at hotels and cybercafés. International Access Code: 1
Country Code: 868
1. Fixed Internet Subscriptions 250,000
2. Mobile Internet Subscriptions 570,000
3. Fixed Voice Subscriptions 289,000
4. Mobile Voice Subscriptions 1,980,000
Regular mail, express mail and courier delivery are reliable and available from local provider TTPost at excellent rates. International courier services are efficient and readily available. http://www.ttpost.net/
Daily Newspapers: Trinidad Express,
Trinidad Guardian and Newsday
Bi-weekly Newspapers: TNT Mirror
Weekly Newspapers: Tobago News,
Catholic News, Bomb, ShowTime, Punch, Trinidad and Tobago Sunshine
Television Stations: CNC (Channel 3), CCN TV6 (Channels 6 and 18), Gayelle Television (Channel 7), IBN (Channel 8), CNMG (Channel 9), NCC (Channel 4), IETV (Channel 16), Parliament (Channel 11)
AM Radio Stations: 530 AM, 730 AM
FM Radio Stations: TBC Network (95.1, Vibe CT 105, 106), the CL Network (90.5, 104, 97.1), Heartbeat 103.5, Caribbean New Media Group (Talk 91.1, Next 99.1, Sweet 100.1), Power 102, Boom Champions 94.1, Isaac 98.1 (Inspirational), 96.1 WEFM, Citadel (I95.5, Red 96.7), The Word 107.1, Radio Tambrin 92.7 (Tobago), Radio Trinbago 94.7, Shakti 97.5, WMJX 100.5 and Heritage 101.7.
Trinidad and Tobago has an extensive
transportation network of paved roads.
Highways link the north and south of the
island (Uriah Butler Highway, Solomon
Hochoy Highway), and the east and west
(Churchill-Roosevelt Highway). Traffic is
extremely heavy at peak hours when a high
number of vehicles head into the capital city
and environs. Driving is on the left-hand side.
IMMIGRATION, WORK PERMITS & VISAS
Visitors to Trinidad and Tobago must possess valid passports and return or ongoing tickets for successful entry. Most Commonwealth countries do not require visas for entry, except Australia, New Zealand, Nigeria, Papua New Guinea, Sri Lanka, Tanzania, Cameroon, Fiji Islands, Mozambique, Uganda and South Africa. Visitors from the European Union also do not need visas, except those from Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. Holders of CARICOM passports, with the exception of Haiti, do not require visas. Visitors from several other countries are allowed to enter Trinidad and Tobago for periods of up to three months without a visa. www.immigration.gov.tt/ Work permits are required for business stays beyond 30 days. Visa extensions can be obtained from the Immigration Office at 67 Frederick Street, Port of Spain, while work permits can be obtained from the Ministry of National Security, Temple Court II, 52-60 Abercromby Street, Port of Spain. www.nationalsecurity.gov.tt
Piarco International Airport is located about
45 minutes from the capital city, Port of Spain.
It plays an important role as a vital hub for
international air traffic in the Caribbean. There
are non-stop daily scheduled flights to and
from major international cities.
Trinidad and Tobago’s national airline, Caribbean Airlines, serves Toronto, New York, Miami, Jamaica, Saint Maarten, Antigua, Barbados, Trinidad and Tobago, Guyana, Suriname and London (Gatwick). International and regional airlines that fly to Trinidad and Tobago include American Airlines, British Airways, Caribbean Airlines, United Airlines, West Jet, JetBlue, LIAT and several charter flight companies. International flights are also available direct from Tobago’s ANR Robinson International Airport. http://www.tntairports.com/
MAJOR AIRLINESAmerican Airlines..... (868) 821-6000
British Airways........... 1-(800) 247-9297
Caribbean Airlines.... (868) 625-7200
Copa Airlines.............. (868) 669-5189
Conviasa Airlines...... (868) 627-8172/6078
LIAT............................... 1-(800) 744-5222
Surinam Airways....... (868) 627-0102
United Airways.......... 1-(800) 864-8331
West Jet Airlines....... 1-(403) 444-2586
JetBlue.......................... 1-(800) 538-2583
Condor...........(868) 639-2285 (Tobago only)
Gol.................................. voegol.com.br Seaports
The main seaports are located in Port of
Spain and Point Lisas. The Port of Port of
Spain handles dry and general cargo, break
bulk, containers and passenger traffic. The
Point Lisas Industrial Port Development
Corporation Ltd. (PLIPDECO), mainly a bulk
port for industrial commerce, also handles
container and general cargo traffic. There are
two fast ferries (T&T Express and T&T Spirit)
and one conventional ferry (Warrior Spirit)
travelling the inter-island route daily.
Port of Spain Ferry:(868) 625-4906/3055
Tobago Ferry: (868) 639-2417/4906
The CARICOM Jetty, which is located at the Port of Port of Spain and operates the Passenger Inter-Island Ferry, receives, stores and delivers CARICOM cargo and multipurpose containers for trade within the Caribbean region.
A water taxi ferry connects Port of Spain and San Fernando. Scheduled sailing times are Monday to Friday. Tickets cost TTD 15 one-way and can be purchased at the Water Taxi Terminal located at Flat Rock, Lady Hailes Avenue, San Fernando or the Cruise Ship Complex, Port of Spain. Free parking is available at both ports. There is a Public Transport Service Corporation (PTSC) shuttle service, which costs TTD 3 through the city of Port of Spain.
For further information visit: www.nidco.co.tt or call 624-5137 (POS) or 800-4WTS (San Fernando)
The festivals, music, customs, cuisine,
religions and races of Trinidad and Tobago
reflect a rich and unique cultural diversity. The
nation has a passionate and colourful history
spanning five centuries. Festivals and religious
and cultural observances include Divali (the
Hindu festival of light), Eid-ul-Fitr (Muslim
religious day), Emancipation Day, Indian
Arrival Day and Corpus Christi (Catholic).
Trinidad and Tobago Carnival is a worldfamous
event that brings together artists,
musicians, masqueraders and revellers for a
month-long celebration that culminates in a
Trinidad and Tobago, although relatively distinct
ecologically, are both blessed with rich natural
environments well suited for eco-tourism.
Once part of the South American mainland, Trinidad’s flora and fauna have commingled, leading to a great density of plant and animal types in a relatively small location. Trinidad and Tobago has more than 97 mammal species, 400 bird species, 90 reptile species, 30 amphibian species, 600 butterfly species and 2,100 species of flowering plants. The island’s nature preserves attract major international traffic from naturalists and nature watchers. The terrain is just as diverse, with tropical rainforests, mangroves, inland swamps, mountainous terrain and savannahs.
Bird watching is a major attraction in Tobago as well, with Little Tobago island recognised as one of the Caribbean’s top seabird sanctuaries. Tobago is also a hub of aquatic tourism. The waters off the island are a haven for wildlife, an attraction for both divers and boat tourists. Buccoo Reef (a large coral reef and protected marine park) is a popular destination.
- 9 Humphrey Street | The Film Centre | St James
- Phone: (868) 622-0738/9
- Fax: (868) 622-0426
- Email: [email protected]
The Who’s Who in Trinidad and Tobago Business is a unique business directory which specifically targets businesses that seek to invest, and build partnerships in Trinidad & Tobago.