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4 TRINIDAD & TOBAGO REAL GDP GROWTH 2008 – 2018 (SOURCE: CENTRAL STATISTICAL OFFICE) 3 2 1 0 -1 -2 -3 -4 -5 -6 -7 -8 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Linkage Cover 3 2019.indd 1 18/10/2019 2:55 PM Develop eyond! ing the Agriculture Sector 50 Years and B PRODUCT SUITE New Reality Loan » This product provides up to 80% financing for any type of viable agri-business project » Interest rates range between 3-5% effective » Loan Period 1-7 years (longer terms negotiable) » Lower interest rate incentives (youth, technology, Tobago projects, Farmers’ Groups, project certification, etc.) Vehicle Package Loan » This loan product funds for new or used vehicles, tractors, attachments and farm machinery » Financing 80 - 100% vehicle/ equipment cost » Interest rates range between 4-5% effective » Loan period 5-10 years Sea to Shore Loan » This loan product funds for boats, "green" engines, equipment & net purchase/ repairs, operating cost and training programs » Interest rate 5% effective » Loan period 3-5 years » Flexible repayment terms Dairy Gro’ Loan » This collaborative package provides up to 100% funding (negotiable) » Mandatory assignment of milk sales from Nestlé Trinidad and Tobago and Assignment of Agricultural Incentives from the Ministry of Agriculture, Land and Fisheries » Interest rates range between 3-41/2% » Loan period 18-60 months ADB Secure » This loan product is tailored to assist agri-businesses with security solutions for themselves, their families and business » Install fencing, modern alarm and surveillance system for any agri-business project (crops, livestock, fishing, agro-shops and agro-processing) » Benefit from the Ministry of Agriculture, Land and Fisheries incentives for praedial larceny to reduce loan balances » Interest rate 5% effective School Nutrition Caterers’ Loan » This collaborative product funds up to 80% working capital and agro-processing upgrades (plant, equipment) towards certified kitchen status » Assistance for caterers to supply safe, healthy meals high in local foods to the School Nutrition Program » Affordable, convenient repayment via assignment of sales to ADB Revolving Loan Account » This product is similar to an overdraft facility » Repayment terms are structured to the operating cycle of the business- generally every 90 days » Interest rates range between 4-5% effective » Loan period 18-24 months Investment and Savings Opportunities Disaster Relief Loan » Certificate of Security An emergency facility to restore (ADB Collateral Support) agri-projects affected by extreme » Fixed Deposits weather conditions (floods, fires » etc) pests or natural disasters. Savings Accounts All Branch Offices 612-0163 www.adbtt.com CLOUD VOICE Scalable, State of the Art and Secure Communication Architecture C&W MyUC Architecture Smartphone Device BYOD Local PSTN 6 internet 2 C&W Business 1 ILD SIP/ Carriers class 4/5 softswitch Tablet Device BYOT C&W Business Local PSTN VoIP/SIP Network interconnection Session border 7 controller C&W Business C$W Business On net country On net country MPLS MPLS 4 4 digits 4 digits 4 on net on net 1 1 extension PBX CPE CPE extension TDM E1/T1 TDM E1/T1 Local PSTN Local PSTN Back Up Back Up 5 lines 5 lines Who are we! PROVEN – RELIABLE – AFFORDABLE We operate in over 40 countries throughout the Caribbean and Latin America and offer comprehensive, One stop shop IT solutions with superior customer service! Speak to one of our experts at 1-868-223-4CBS (4227) or email us at [email protected] PIONEERS IN E-COMMERCE & ONLINE SHOPPING Aeropost has been facilitating online shopping in Latin American and the Caribbean for over 30 years. *Enabling businesses of every size to manage inventory *Optimizing supply chain at a fraction of traditional cost *No restrictions on weight or size of shipments *Access to online deals & discounts *Flat rate on shipments over 35lbs *Charges based on actual weight *No signup or membership fee *Free delivery island-wide* *Hassle free returns *Daily flights Fernandes Compound Atlantic Plaza Gopaul Lands Starlite Plaza Tobago 868.626.2376 868.679.6562 868.658.4105 868.225.2229 868.631.8640 CONTENTS 7 Viewpoint AMCHAM T&T President, Patricia Ghany 8 Welcome AMCHAM T&T CEO, Nirad Tewarie WHAT NOW: 10 CEO's Perspective: AMCHAM T&T BUDGET The Overwhelming Desire to RECOMMENDATIONS Achieve Growth 32 Paul Pantin 26 Building the Case for Talent 38 AMCHAM T&T Supports USNS 12 Business Leaders’ Top Five Management Comfort Navy Medical Ship to Things We Can Do to Make By Sheldon Baptiste T&T Doing Business Easier in T&T 28 CARIFESTA XIV - A Cultural and By Kennedy Maraj 16 Here To Stay Artistic Supernova 40 Investing for the (New) How NGC is Staying Relevant By Corporate Communications Unit, Investor Ministry of Community Development, By Shannon Monteil Culture and the Arts 42 Legislation to Watch By Jeanelle Pran 44 An Engagement with a AMCHAM T&T: Difference 30 AMCHAM T&T Supports New By Alicia Lucien-Baptiste Companies Act 46 AMCHAM T&T Signs MoU with By AMCHAM T&T Staff Writer Oxford Business Group 32 AMCHAM T&T Budget By AMCHAM T&T Staff Writer Recommendations 2019/2020 47 AMCHAM T&T Testimonial By Rey-Anne Paynter By Jim Swartout 36 AMCHAM T&T Calls for a Legal Digital Identity By AMCHAM T&T Staff Writer 16 NGC - HERE TO STAY 18 Big Data: Use it and Grow, Ignore it and Die LINKAGE By Leslie Lee Fook 20 10 Ways to use Social Media to grow your business! The opinions expressed in the editorial contributions in Linkage may not necessarily be those By Kelly Betts of AMCHAM T&T. We welcome any comments you might have! Simply email a “Letter to the Editor” to the AMCHAM T&T Secretariat to [email protected] 22 Small is Beautiful - Uruguay's Competitive Advantage By Jerry Haar AMCHAM T&T’S VISION 24 Developing Equality As The Pathway To The Americas, AMCHAM T&T is focussed on the stimulation and By Kennedy Maraj promotion of trade, investment and export oriented growth in the Western Hemisphere. AMCHAM T&T’S MISSION AMCHAM T&T will add value to our member companies within the following key focus areas: • Enhancement of Competitiveness • Generation of New Business and Market Access for Services/Goods • Influence on Policies and Legislation • Transfer of Knowledge • Contribution to Sustainable Development ISSN 1814-1242 Design & Layout: Paria Publishing Co. Ltd. Printing: Eniath's Printing Co. Ltd. AMCHAM Trinidad & Tobago 62 Maraval Road, Port of Spain, Trinidad & Tobago, W.I. Tel: (868) 622-4466 / 0340 / 628-2508 Fax: (868) 628-9428 FOCUS ON THE ARTS Website: www.amchamtt.com 28 Find us on social media: Facebook, LinkedIn and Youtube 4 AMCHAM T&T LINKAGE Issue 3 / 2019 VIEWPOINT a successful future. Furthermore, if hard work isn’t valued and rewarded, the organisation’s culture creates demotivation and dissatisfaction among employees which, as we well know, stifles any real growth. EMPLOYEE CULTURE It is imperative that businesses adopt a growth mindset that is not just guided by an increase in profits but reflected in the way they treat their employees and customers. The employee culture must be one where workers are made to feel like they are valued partners in the company and contributing equally to its success. rust and respect are vital ingredients for building growth. Forget the platitudes and clichés, trust can’t be faked. Companies that have a trusting relationship with their employees and customers are the T ones who quickly address complaints, resolve conflicts and share information. These are the actions that build trust and establish a solid foundation for future growth. Similarly, customers show their loyalty when they know companies are willing to go the extra mile to meet their needs. This means more service, more time, more convenience and more sensitivity. On a national level, the common trend is to view growth from the perspectives of GDP ratings. We often used this as the sole benchmark to determine the difference between success and failure as well as how far we set our future goals. But are we betting on the right barometer for success? If growth = success, then increased profits, stability and credibility would mean very little if we aren't creating a culture that makes people feel empowered and respected for their contributions. Once we can establish this on a societal level, growth will no longer Patricia Ghany be a worrisome wish but a foregone conclusion. It means we need to President, AMCHAM T&T start investing in our people and giving them equal opportunities to succeed. Just as in business, when people feel they are respected and their contributions are valued, they become inspired to give more and produce t’s no secret that growth is good for business. When more. That's how you lift a nation out of stagnation. there is growth, businesses take advantage of new At AMCHAM T&T, we have been doing just this with our Secretariat and opportunities, expand product lines and services, members. We have invested heavily in advocating for women's issues in I attract more customers, increase sales and employ the workplace over the past several years. In this issue of Linkage, you will more staff. Growth, therefore, is essential to success, read about the successful completion of our second Women in Leadership and success is fundamental to the long-term survival of any Mentorship programme which provides sound career advice and counsel business. to women seeking to move up the corporate ladder. We are proud to Yet when we speak of “growth” in a business context, boast that several members of our Secretariat seized the opportunity for the measurement is often based on revenue earnings, asset mentorship and have reaped the benefits.
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