Exceptional facilities, eco-friendly construction, convenient transportation, ample resources and an educated, ready workforce…
A vibrant multicultural community and a few thousand miles of beaches…
Yep. Now you’ve got an idea of what it’s like to operate in the Caribbean’s financial, industrial, economic and energy hub, the Republic of Trinidad and Tobago, at Tamana InTech Park.
“We are a profoundly creative people, and the task before us is to apply this creative strength to achieving business and national goals,” says the Honourable Minister Stephen Cadiz, Trinidad and Tobago’s Minister of Trade & Industry.
“While we cannot compete with larger nations in terms of output due to economies of scales, there is no limit to our capacity to innovate.”
From oil and gas to knowledge and innovation
The first oil well in the Western hemisphere was drilled in Trinidad and Tobago, signaling the start of a century of oil production in the country.
But in the 1970s, Trinidad and Tobago’s government embarked on a mission to diversify the country’s economy based on one of the islands’ other plentiful resources: natural gas.
The result was the Point Lisas project, a technology-driven initiative based on a cluster system, which resulted in Trinidad and Tobago supplying 70 percent of the liquefied natural gas (LNG) to the United States.
The concept of clustering
“Clusters bring together, in one geographic location, companies, customers, suppliers and academia in a particular industry,” explains Angela Hordatt, Vice President of Business Development, eTecK.
“Because all these people are in one location, they can form strategic partnerships and feed off the synergies created, both competitively and cooperatively. Point Lisas, a highly successful cluster, proved that this strategy dramatically increases the level of innovation and success of the entire cluster.
“I was a young engineer when Point Lisas started. I can’t wait to see Tamana blossom in the same way.”
Tamana’s cluster environment fosters industry in four distinct segments: information communication and technology (ICT); high value manufacturing; agro-technology; and what Hordatt refers to as clean energy and green technologies.
Ushering in a knowledge-based economy
“Tamana InTech Park will be the crest of the wave that would help transform our economy to one that is more driven by knowledge-based enterprises and innovative industries,” says Mr. Lindahl Ghany, director, Memory Bank Computers Ltd.
“The layout lends itself to the blending of educational facilities and private sector businesses – a mix which is critical to achieving the end product needed.
“Its location and easy access to our airport hub means we can attract the international business partners who will complement the locally owned industries.”
Click here to read the full article published in the July/August issue of Trade & Industry Development magazine.