Sunday, December 17, 2017

Link growth poles to areas with unemployment

Economist to Govt:

Economist Dr Roger Hosein believes Government’s growth poles should be linked to areas in Trinidad and Tobago where there is unemployment.

Hosein, in an interview with the Sunday Express, observed that growth poles and parks such as e Teck’s can be complementary.

Hosein noted that the e TecK parks were designed to provide an outlet through which non-energy sector businesses can establish themselves and commence operations. 

“At the core these parks provides a practical means through which the Trinidad and Tobago economy can be diversified. It therefore seeks to facilitate the creation of new industries and new services, outside of the energy industry, which are sustainable, environmentally aware, community minded and technology driven,” he said.

He observed that e TecK has created 17 “Light Industrial Parks” throughout Trinidad and Tobago and intends to establish eight more. 

Hosein explained that there are areas such as Point Fortin and Mayaro where there are higher unemployment rates than the national average.  

“The Point Fortin area falls under the southwest growth pole, but there are no e Teck parks in process whilst the Nariva Mayaro area has neither a planned e Teck park nor is it targeted as a growth pole.  

“But in terms of a diversification strategy a careful look at the data would indicate that these are two of the most deindustrialised areas of the country (measured as the proportion of workers in non-petroleum manufacturing as a percentage of the total).  On this basis it makes good economic sense to extend an economic park to the southwest as it is already a defined growth pole area and work with the foreign multinational firms to design a growth pole strategy for the south east,” he said.