REASSURING INVESTORS

 The American Chamber of Commerce's (AMCHAM) advice sent out internationally on its website to potential investors that this country was a “stable and democratic nation,” and that personal security was not an issue was both reassuring to investors and timely.

This is particularly so, not only because of the unease worldwide provoked by the September 11, 2001 suicide bomber attacks in the United States and the four-year slide in world economies, but the unfortunate comments made overseas by former Prime Minister Basdeo Panday, which could have led to a negative perception of this country by potential investors. What has to be clearly understood is that Trinidad and Tobago is in competition with other countries for contracting investment dollars, even countries from which those dollars have traditionally come, for example the United States of America and the United Kingdom. The uncertainty encouraged by the US invasion of Iraq and Afghanistan, continued turmoil in the Middle East and the spectre of attacks on leading world trading centres conjured up by threats of Jihad by Islamic fundamentalists have heightened the unease. And while it is true that this country has relatively large reserves of crude oil and natural gas, it is its social and political stability, along of course with its bankable and trainable work force that provides it with the needed edge over nations with far greater energy reserves.

 Neighbouring Venezuela is one such country. But Venezuela's repeated instances of social unrest over the years, have given it the somewhat uncomfortable stamp of lacking social and political stability. It is Trinidad and Tobago's absence of social and political volatility that has made it increasingly attractive to investors, particularly with respect to the exploitation of its energy and energy based sectors. Yet this country, despite its stability, must because of the attempted coup of July 27, 1990, although an aberration, and the peculiarity of the international situation today, is in the somewhat peculiar situation where it is from time placed under the microscope, ironically due to untoward comments overseas by politicians. In addition, unfortunate statements on a Party's international website, have not helped.

That is why the wholly objective approach by AMCHAM must be seen as refreshingly welcome. And it is not welcome to Trinidad and Tobago alone but the Caribbean Community of Nations as well, of which TT is a part. We knew there is crime — too much indeed — but we are supposed to be working on it, going after the criminals and we are bound to succeed. The section of AMCHAM's website, captioned “TT as a place to invest,” has made much of our stability, compared with many other countries. But it has gone even beyond the description of Trinidad and Tobago as a “stable and democratic nation,” and has emphasised that “the friendly attitude of the population encourages an amicable atmosphere for friendly discussions.” To use a saying of an earlier generation: It has made assurance doubly sure.