The committee appointed by Cabinet to fast track stalled private sector projects will focus on initiatives valued at $10 million or more that will help diversify the local economy away from dependency on oil and gas.
These are among the terms of reference for the group, chaired by businessman Christian Mouttet, which has already started meeting with private entities, including the T&T Chamber of Commerce, the T&T Manufacturers Association and the American Chamber of Commerce.
According to a release from the Office of the Prime Minister, the committee will not be implementing new projects but will facilitate their progress through the various state entities using existing procedures.
Its terms of reference include that projects must:
• originate from the private sector (local or foreign) and with access to funding (either local or foreign; not from government);
• support and boost the manufacturing and tourism industries;
• support and encourage innovation, import substitution and job creation;
• must be “value added job creation” and not ‘middle-man’ type jobs or projects;
• would improve the quality of life for the citizenry without competing with existing state enterprises. Ideas may include; innovative low-cost housing, power generation and food production.
Private entities wishing to seek the committee’s assistance can email its Secretariat at govpsimplementationcommittee@gmail.com.
