Tobago Business Chamber Recommends Immediate Repeal Of Foreign Investment Act

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Tobago Business Chamber Recommends Immediate Repeal Of Foreign Investment Act

The Tobago Business Chamber recommends immediate and unconditional repeal of the foreign investment act.

It says while it wants to encourage foreign investment, it must be done in a structured way.

Anyone investing in Tobago, the Chamber suggests, must partner -at least – ten percent with a local Tobago based business.

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From this approach the Chamber believes foreign exchange will be earned by the direct foreign investment.

Another benefit is the transfer of knowledge where Tobago based businesses get the opportunity to learn hands-on from bigger, more experienced entities.

The government is also being urged to expand CEPEP and URP programmes to create dedicated agro-industry sections which can serve as organised, structured government farms workers.

Another proposal from the Chamber is for Tobago to be a made a Value Added Tax \Duty free zone.

This will lead the chamber says to a massive influx of foreign exchange and investment and business in Tobago.

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