BUDGET STATEMENT 2014
21
SUSTAINING GROWTH, SECURING PROSPERITY
INFORMATION AND
COMMUNICATION
TECHNOLOGY
Mr. Speaker, we have identified the year 2018
to transition Trinidad and Tobago to the top 30
countries out of 148 in the Global Competitive-
ness Index (GCI) preparedby theWorldEconom-
ic Forum. The Global Competitiveness Index is
the internationally well-established mechanism
to assess the competitiveness of the countries
in the basket.
We are marketing this objective to signal to
the world our readiness as a technologically
sound and viable environment for attracting
foreign direct investment. We are collaborating
with the World Bank Group to fashion supply-
side and demand-side initiatives to build an
e-ready society, to increase the availability
and affordability of technologies, to expand
the
accessibility
of
telecommunications
and broadband networks and to improve
Government efficiency in its delivery service.
GASOLINE VEHICLES
CONVERSION TO CNG
Mr. Speaker, the technical work for accelerating
the use of compressed natural gas as a major
alternative fuel in the country is now ready to
commence, with the recent decision by the
National Gas Company to undertake a phased
investment over a five year period at a cost of
$2.07 billion through the establishment of a
new company.
Phase 1 would involve an expenditure of
$500.0million over a 2-year period, whichwould
result in the construction of 22newCNGstations
and for the conversion of 17,500 vehicles. Phase
2 would involve an expenditure of $1.57 billion
with the construction of the remaining stations
and the continuing conversion of vehicles. It is
the intention to list this new company eventually
on the local Stock Exchange.
Mr. Speaker, in our marketing efforts for the
maritime sector, we will ensure that all investors
are aware of the range of incentives which are
available under the Free Zones Act.
TOURISM
Mr. Speaker, over the past year, we have been
making steady progress with our initiatives in
the tourism sector.
We have been promoting the country not only
as a place to do business, but also as a premier
leisure destination.TheGovernment is focussing
on two main priorities: developing airlift and
enhancing room stock. We are collaborating
with the major airlines as well as with airport
and cargo operators with a view to expanding
the opportunities for increasing direct travel and
air cargo to Trinidad and Tobago.
From July 2014, Jet Blue, a low cost American-
based airline, will commence flights to Trinidad
and a new charter, Apollo Airlines, a Greece-
based company, will soon launch flights from
selected cities in Europe to Tobago. These new
airline arrangements will complement West
Jet’s current service between Toronto and Port
of Spain and Caribbean Airlines’ operations
between Port of Spain and destinations in North
America and Europe.
The country’s room stock is being expanded to
accommodate the growth in business travelers
in Trinidad and Tobago. The soon-to-be opened
Radisson Luxury Apartments in Port of Spain
will add an additional 100 rooms providing more
home-like amenities.
The cruise industry is being expanded. The
Southern Caribbean Cruise Initiative is now at
an advanced stage of conceptualisation with
visits to five destinations: Trinidad, Tobago,
St. Lucia, St. Vincent and Grenada. The intention
is to make Trinidad and Tobago the home port
for cruise ships in the Southern Caribbean.
