New economy as:

REPUBLIC BANK managing director David Dulal-Whiteway yesterday said the Soca Warriors historic qualification for and participation in the 2006 World Cup in Germany has opened up a plethora of international business opportunities for local entrepreneurs to develop Trinidad and Tobago.

Meanwhile, Trade and Industry Minister Ken Valley said continuous growth in Trinidad and Tobago’s manfacturing and services sector demonstrates that Government’s economic diversification thrust is on the right track.

Addressing the launch of the 2006 Excellence in Business Awards competition, Dulal Whiteway said the Soca Warriors have given TT’s efforts to realise its global potential a significant boost through their “impressive performance” in Germany. “Our international exposure has increased immensely. Many doors have been opened for our entrepreneurs and they must take full advantage of every opportunity available to not only help themselves but to assist the country in reaching its full potential,” he said.

While noting solid growth in TT’s energy and non-energy sectors, Dulal-Whiteway reiterated that the nation must not depend on the former for its economic future but use its fruits to plan for the future.

In a speech delivered by the ministry’s deputy permanent secretary Margaret Parillion, Valley said his ministry’s mandate was to drive the development of the non-energy sectors of the economy in order to ensure long-term sustainable growth.

He said Government was pleased that “manufacturing and services continue to display great resilience especially in these times of rapid economic change.” Valley said this fact was supported by data in the 2005 review of the economy which indicate that the manufacturing sector grew by an average of 9.05 percent from 2004 to 2005 compared to a 9.4 percent growth rate by the energy sector over the same period. He added that the services sector.