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Government will continue to invest in programmes and projects over the medium term that
support industry/business development and innovation.
99.
One of the strategies for transforming the economy is the development of new Growth
Poles in five (5) geographic areas in Trinidad and Tobago. It is intended that each Growth Pole
will focus on developing a cluster of business/industry. These Growth Poles are located in:
•
Central Trinidad (light industrial development and services and creative industries)
•
South Western Peninsula of Trinidad (port development, fishing industry,
manufacturing, support services and agriculture
•
East Port of Spain (construction, creative industries, tourism and small business
development)
•
North coast, Trinidad (real estate, fishing, marina, agriculture and services)
•
North-Eastern Region, Tobago (tourism including hotels, fishing, marina,
agriculture and services)
100.
Complementary to the Growth Pole initiative are the development of the Invaders’ Bay
Waterfront and the IDB-funded
Sustainable and Emerging Cities Programme
. Both initiatives
are geared towards developing long-term strategies for sustainability in environmental, fiscal,
and urban management.
101.
Another aspect of the diversification strategy is the development of the Creative
Industries, including film, fashion and music, for which an allocation of $71.5 million is
proposed over the three-year period. Through the newly created CreativeTT, financial support
will be given to continue promoting Trinidad and Tobago’s film industry with emphasis on
feature film programmes, film familiarisation tours, provision of film incentives, hosting of film
festivals and execution of the Production Assistance and Script Development Programme.
Investment in this area is expected to:
•
assist the growth of local and foreign direct investment in the non-energy sector by
supporting the expansion of local screening and distribution opportunities
•
assist in the diversification of the local economy and society by creating new
employment and investment opportunities through the development of industry
102.
Financial assistance will also be given to support the music industry. This support will be
used for:
•
promotion of the music industry at events, conferences, festivals and trade shows;
•
project funding
•
industry development and support activities including Apple Logic Pro 9
certification, an intellectual property seminars and capacity building of music sector
associations
