Unlocking Growth, Investment, and Resilience
AMCHAM T&T’s National Budget Key Recommendations for Short- to Medium-Term Growth
By AMCHAM T&T Staff Writer
“Trinidad and Tobago’s next phase of economic transformation hinges on creativity, collaboration, and urgency,” said Nirad Tewarie, CEO of AMCHAM T&T. “These short-to-medium-term recommendations are not just about policy, they’re about creating an environment where private capital is unleashed, infrastructure is modernized, and innovation becomes the engine of growth. By taking coordinated action now, we can dramatically boost business resilience, foster job creation, and position our nation for long-term prosperity.”
Against the backdrop of shifting global markets, foreign exchange constraints, rising crime, and evolving labour market dynamics, AMCHAM T&T is calling for bold, coordinated action to restore confidence, attract investment, and strengthen the foundation of sustainable development.
Key Recommendations for Short- to Medium-Term Growth
National Infrastructure Investment Fund (NIIF): Mobilise private capital between USD500 million and USD1 billion for critical projects such as ports, affordable housing, renewable energy, and digital infrastructure—supported by government partial risk guarantees and transparent governance.
Piarco Preclearance & Global Entry: Initiate negotiations with the U.S. to designate Piarco International Airport as a U.S. Preclearance Port and integrate T&T into the Global Entry Programme, allowing travellers to complete U.S. Immigration and Customs in Trinidad and Tobago prior to departure. This would enhance passenger experience, reduce delays, and position T&T as a more attractive travel and investment hub.
Digital Nomad Visas: As a means of attracting valuable tech entrepreneurs and workers, the Government should implement such visas to allow qualified non-nationals to live and work in Trinidad and Tobago for periods not exceeding two years.
Nearshoring Strategy: Collaborate with the Ministry of Public Administration and Artificial Intelligence and the Ministry of Trade, Investment and Tourism to implement a national nearshoring plan that creates high-value jobs, facilitates brain circulation, and attracts foreign direct investment in IT-enabled services and advanced technologies.
Implement a Professional Standards Bureau in the Customs and Excise Division: Operations at the Customs and Excise Division continue to be a significant bottleneck for trade facilitation and business efficiency. The ongoing challenges around delays, transparency, and accountability continue to negatively impact competitiveness and investor confidence.
AMCHAM T&T is recommending the establishment of an Internal Affairs & Professional Standards Bureau within the Division to address issues of integrity and efficiency. Similar units exist in many other countries, and this approach is also endorsed by the World Customs Organisation.
Widen the Tax Net: Leverage technology—including AI, GIS mapping, and FIU partnerships—to identify non-compliant businesses, with a one-year amnesty to bring them into the tax system without retrospective penalties.
Boost Access to Venture Capital and Private Equity: Update regulations to allow institutional investors to direct capital into venture capital and private equity funds, supporting entrepreneurship and innovation.
Streamline Approvals and Payments: Accelerate state land and permit approvals for investment-generating projects and ensure timely government payments to improve private sector liquidity.
Settle Government Debt to Private Companies: It is important that Government pays its obligations, as many companies are struggling to obtain positive cash flow, which reduces their tax contributions.
Operationalise the National Statistical Institute (NSI): Transition from the CSO to a robust, well-resourced NSI to provide accurate, timely economic data—improving both policy planning and investor confidence.
Read AMCHAM T&T's
Full Budget Recommendations 2025:
BUDGET RECOMMENDATIONS