30
Strategic Priority – Economic Growth, Job
Creation, Competitiveness and Innovation
73.
The creation of a diversified economic environment is imperative for sustainable
economic growth, investment and job creation. Key to the Diversification Strategy
is
social and economic transformation, innovation and entrepreneurship. The Trinidad and
Tobago economy has essentially been driven by the hydro-carbon sector, however
Government in its efforts to improve the dependence on this sector, has developed a two-
pronged
Diversification Strategy for Trinidad and Tobago:
Sectoral diversification
– with seven (7) clusters identified for development
- Energy; Food Sustainability; Culture and Creative Industries; Maritime;
Tourism; Information and Communication Technology (ICT) and Financial
Services
Geographical diversification
– five (5) growth poles across Trinidad and
Tobago earmarked for development as a strategy for balanced regional
development. These areas are the South West Peninsula, the Central Growth
Pole – Couva, Chaguanas, Carapichaima and Charlieville, North East Coast,
East Port of Spain and North East Tobago
74.
Government through its initiatives has begun to invest in a number of core areas
that would facilitate the achievement of the diversification strategy.
Science, Research and Development
75.
In fiscal 2013, Science, Research and Development has been a major area of
focus to increase innovation and competitiveness in Trinidad and Tobago. Utilising over
GOAL
A RESILIENT, COMPETITIVE, STABLE
AND SUSTAINABLE ECONOMY
MAIN OUTCOMES:
ECONOMIC GROWTH AND JOB
CREATION
INNOVATION, ENTREPRENEURSHIP AND
PARTNERSHIP
A DIVERSIFIED ECONOMY
