Tobago Chamber hopes Budget helps ease island’s financial woes
Trinidad and Tobago Chamber of Industry and Commerce Tobago Division chairman Curtis Williams is urging the Government to address Tobago’s financial challenges, including unpaid debts. He says he hopes for better access to foreign exchange for small businesses in the upcoming budget.
Speaking to Guardian Media yesterday, Williams said the island’s economic lifeline is depending on a boost to drive activity.
“The THA (Tobago House of Assembly) has been advocating for increased funding to address some of the unique challenges Tobago faces … with some outstanding bills that they have inherited, a couple million dollars well. And these suppliers, providers, have been contending for their funds. So, with the increase in funding, it would definitely address some of those needs or desires that the THA has, and really take care of some of those outstanding bills,” he said.
He lamented that business activity has been sluggish for some time and issues with getting foreign exchange have made doing business difficult.
“The Minister of Finance promised that the forex challenge for the SMEs would be taken care of through the EximBank. My last conversation with EximBank is they are waiting on the minister. We are waiting as well. We hope the minister does give us what was promised,” Williams added.
Aside from a larger cut for development, he said he wants to see funds set aside to clear bills incurred from the February 7 oil spill disaster.
“If they are going to give $100 million, say what it is for and put it aside from the allocation for Tobago. We really need an ease-up in Tobago. The economy has been sluggish in the last couple of years, we need to see something happening.”
Williams also spoke of the need for improved infrastructure and tourism in Tobago, especially with the ANR Robinson International Airport terminal expected to be completed in 2025.
He called for more incentives to attract hotels, like the pending Marriott project.
The chamber boss also hoped to hear of initiatives that would lead to improvements on the sea and air bridge.