Home' Trinidad and Tobago Guardian : August 1st 2013 Contents AUGUST 2013 • WEEK ONE www.guardian.co.tt BUSINESS GUARDIAN
COMMENTARY | BG25
Trinidad & Tobago is in need of an effective country brand that will set the country apart from its regional competitors and will seek to
inform global perceptions on the country's potential to attract foreign business and investment.
invesTT is the nation's investment promotion agency with a specific mission to grow Trinidad & Tobago's non oil and gas sectors
significantly and sustainably. Part of our mandate is to develop a country brand for Trinidad and Tobago. In this light, we are seeking the
submission of Tenders for: Development and Launch of a Trade & Investment Country Brand for Trinidad & Tobago.
To be eligible for consideration, bidders must provide documented evidence of the following and submit a proposal
in response to the
• Corporate information: Owner's name and contact details, company trading name, registered/business address, copies of
registration documents, income tax and VAT clearance certificates etc.
• Relevant experience in city or country branding or in developing competitive identities.
• Resource expertise and capacity to complete project within a stipulated timeframe.
• Audited Financial Statements for the last two (2) years.
Requests for clarification can be addressed to:
InvesTT Limited (invesTT)
Don Migue Road Extension,
Trinidad, West Indies
Email contact: kris.mohammed@etec .co.tt
Tender pac ages can be downloaded from www.investt.co.tt, no ater than 8 August, 2013.
All interested bidders shall submit payment of the non-refundable fee of TT$500.00 (or US$78.00 for foreign applicants) with their
tender submission. e method of payment will be by certified cheque or cash.
Late responses wi l
not be accepted.
Tenders must be submitted strictly in accordance with the Tender Documents. invesTT does not bind itself to accept the lowest or any
Tender and reserves the right to negotiate price with any Tenderer.
P ease note that procurement for this tender is being conducted by Evo ving TecKnologies & Enterprise Development Company Limited
(eTecK) on behalf of its affiliated company InvesTT Limited.
Despite the energy sector only accounting
for about 5 per cent of employment oppor-
tunities in T&T, a downturn in the country s
LNG activity may result in some downsizing
and employees being made redundant.
Stemming from such a possibility, the loss
of qualified nationals to other countries with
more lucrative energy sectors is a possibility
T&T must acknowledge if our energy sector
is unable to keep up with newer low cost
Overall, the price which T&T s LNG exports
will be worth on the global market with the
onset of this "North American golden age of
gas" depends on various factors many of which
must be anticipated (IEA 2012).
(i) Continue diversifying LNG exports to
higher priced markets in Europe, the Far East
and Latin America by securing long term con-
tracts in these markets prior to the onset on
US LNG exports
(ii) Diversify the economy away from the
dependence on oil and gas by promoting the
development of areas such as manufacturing,
tourism, agriculture and food sustainability,
information communication technology, culture
and creative industries, maritime industries
and finance by establishing a structure which
encourages investment in the country (MPSD
(iii) Gradual removal of existing fuel subsidies
and market the increasing use of CNG as a
(iv) Possible creation of a joint partnership
agreement with the US in utilizing T&T s LNG
(v) Amending the energy sector s investment
structure and fiscal system to ensure continued
competitiveness in exploration and production
as well as in securing new markets (IMF 2012)
These recommendations all have various pros
and cons which may determine their viability
and use in future decision making.
Difficulties in quantifying the
Uncertainties exist at all stages of shale gas
production, from upstream to downstream to
final use which make it difficult to quantify
its impact on T&T s economy at this time.
Variables which create uncertainty in the
upstream category include gas resource size
and production costs
while those in the down-
stream category comprise
gas transport costs and
the oil-gas price link.
Variables in the final use
category include total
global energy demand
linked to global GDP
power generation and gas
use in transportation (EC
2012). If ever realised in
T&T, the establishment
of carbon dioxide man-
agement schemes would
also create some degree
Some of the uncertain-
ties facing the overall
energy system however
can be seen as opportu-
nities for utilising gas
such as establishment of
climate change policies
and regulations; and as
a backup fuel of renew-
able energy technologies
We can no longer rely
on our previous advan-
tage as the first country
to infiltrate the US LNG
market and now there is
urgency to make proac-
tive key decisions to pre-
vent economic stagnation
or a recession.
It may be best that a
ment between T&T and
the US be established
over the short to medium
term. This would support
the continued develop-
ment of T&T s LNG
industry due to the asso-
ciation with the US in
agreements with more
attractive Asian and
Dr Zaffar Khan, Pro-
gramme Director, MBA
Management and MBA
Logistics and Procure-
ment; and Kathryn Siri-
ram BSc, MSc Imperial
College London, MSc
University College Lon-
don SERAus, Energy
Researcher, Arthur Lok
Jack Graduate School
Unemployment and brain drain
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