TOURISM AND
INDUSTRIAL DEVELOPMENT COMPANY OF TRINIDAD AND TOBAGO LIMITED
ANSWERS
TO FREQUENTLY ASKED QUESTIONS (FAQs)
For more information, contact: TIDCO -
Tourism and
Industrial Development Company of
Trinidad and Tobago Limited
Corporate Communications
Department
10-14 Phillips
Street, Port of Spain, Trinidad and Tobago.
Phone: (868)
623-6022
Fax: (868) 624-8124
E-Mail: corp-comm@tidco.co.tt
Internet: http://www.tidco.co.tt
When
was TIDCO created?
The
Company was registered on December 17, 1993 under the provisions of The
Companies Ordinance (Chapter 31 No. 1).
By Act No. 4 of 1995 of the Parliament of the Republic of Trinidad and
Tobago, the assets and liabilities of the former Industrial Development
Corporation, Export Development Corporation and the Tourism Development
Authority were vested in TIDCO.
TIDCO's
Mission.
The
company's mandate is to market, promote and be an investment facilitation
agency with respect to the country's exports of goods and services, and the
development of its Tourism and Non-Energy Industrial sectors.
TIDCO's
Mission Statement, as identified in the Company's Strategic Plan up to 2000, is
as follows:
"To be a catalyst for
ensuring that Trinidad and
Tobago places first in the
rankings for the
global competitiveness of
nations."
How
does TIDCO carry out its work?
To
execute its mandate, the Company is divided into several key areas of
operations: the Office of the President, Finance and Administrative Services,
Division of Trade and Industry, Division of Investment, Division of Tourism,
Division of Government Policy and Special Projects, and the Property and
Industrial Development Company of Trinidad and Tobago (PIDCOTT).
Office
of the President.
The
Office of the President provides leadership to and coordinates the efforts and
energies of TIDCO, to ensure that the energies of the company are focused on
the mission, vision, goals, and plans.
It utilizes a network of strategic relationships with Government
Departments, international organisations, overseas offices and the business
community. It exploits all
opportunities to keep the issues of quality, professionalism and excellence
high on the TIDCO and the national agenda.
Investment.
Its
major responsibilities include both inward and outward investment
promotions. The Division is positioning
Trinidad and Tobago as the location of choice in the Americas for doing
business, and acts as a one-stop-shop for potential investors. Through client-driven policies and
procedures, applications are evaluated for incentives available for investors,
and investors are facilitated with the implementation of their projects.
Trade
and Industry.
Its
mandate is to enhance the international competitiveness and empower local
entrepreneurs to meet the challenges of the international marketplace. Its primary work involves enhancing the
competitiveness of the local export sector by identifying and nurturing those
industries that are internationally competitive and can lead to sustainable
economic development for Trinidad and Tobago.
Tourism.
It
executes the policy framework outlined in the Tourism Master plan. The plan proposes the development of a
Tourism sector that is sustainable and contributes to the Trinidad and Tobago
economy by generating employment and foreign exchange earnings, creating
economic linkages within industry sectors, promoting Trinidad and Tobago as an
international tourism destination.
Several niche markets have been identified, including Eco-Tourism and
Soft Adventure, Sports, Cruise Shipping and Business and Cultural Events.
Government
Policy and Special Projects.
TIDCO
is also involved in the management of certain projects that are of strategic
importance to its marketing and promotional efforts, and which are funded by
international lending agencies such as the IDB. The division of Government Policy and Special Projects provides
project management services. The
internationally funded programmes it manages are geared to the provision of
sustainable economic growth, predicated on diversification of the economy.
PIDCOTT.
This
is a wholly-owned subsidiary company specially set up to manage and maintain
TIDCO's property portfolio, providing industrial accommodation to business
engaged in a wide range of industrial manufacturing, process and service
industries. The asset base under
management includes a hotel, industrial estates throughout Trinidad and Tobago,
office complexes, resort lands and property and beach facilities, around
Trinidad and Tobago. PIDCOTT also
offers a comprehensive range of property management services including planning
and development, estate management, and project management.
IS
TIDCO ON THE INTERNET?
TIDCO
maintains one of the most comprehensive Internet presences in Latin America and
the Caribbean. This currently consists
of the corporate site, at http://www.tidco.co.tt,
with links to TIDCO sites geared to the main areas of tourism, trade
investment, etc.
http://www.visitTNT.com provides
comprehensive tourism-related information.
The newest website http://www.investTNT.com
provides detailed information on investing in Trinidad and Tobago. In addition, the establishment of a local
Trade Point Centre at TIDCO makes international trade more accessible to local
enterprises, by providing them with access to advanced technologies and
information networks. This can be
accessed at http://www.tradetnt.com.
Last
Revision: 25 August 1999