This photo taken on Jan. 10, 2024 shows buildings inside the Phoenix Park Industrial Estate in Point Lisas, the second-largest port in Trinidad
and Tobago. (Xinhua/Zhu Wanjun) Participating in the Belt
and Road initiative, he emphasized, "is not just because it's the good thing to do, but it's an important economic development strategy."
"The Belt
and Road Initiative has brought enormous development opportunities
and valuable experiences to Trinidad
and Tobago," Sekou Alleyne, president of InvestTT, the national investment promotion agency, has said.
Trinidad
and Tobago was among the first Caribbean nations to sign a Memorandum of Understanding with China on jointly advancing the initiative. As a small island developing state, the country depends on international trade
and investment for the supply of many goods
and services, Alleyne said in an interview with Xinhua.
The Caribbean nation works to deepen its economic partnership with China
and attract greater volumes of trade
and investment. Participating in the initiative, he emphasized, "is not just because it's the good thing to do, but it's an important economic development strategy."
Alleyne views the initiative as a key driver of growth for his country, as it encourages more Chinese enterprises with overseas ambitions to establish a physical presence in the country, creating jobs
and boosting local economic activity. "We look forward to expanding our engagement under the Belt
and Road framework," he said.
One of the flagship projects of Belt
and Road cooperation is the Phoenix Park Industrial Estate. According to Alleyne, this environment-friendly industrial park is designed to enhance the country's role as a manufacturing hub in the Caribbean
and support national efforts toward economic diversification.
"The industrial park's development has not only improved Trinidad
and Tobago's infrastructure but also attracted more international investors. They can leverage our ports
and trade networks to access broader markets in North
and South America," Alleyne said.
Currently, the park boasts a 98 percent occupancy rate
and is expected to become fully operational within the next two to three years. The estate is also undergoing certification as a Special Economic Zone (SEZ).
"Once SEZ status is granted, the industrial
and tax policies will become even more favorable. In the future, Trinidad
and Tobago plans to replicate this model to develop additional industrial parks," he added.
Looking ahead, Alleyne expressed optimism about the prospects for Belt
and Road cooperation, especially in areas like infrastructure
and industrial modernization.
"We also look forward to expanding cooperation with China in renewable energy to support our goal of achieving a more resilient
and sustainable future," he said.
Editor:Evan
