Industrial park approved for Penal Debe

Addressing the Penal/ Debe Chamber annual Christmas dinner at Achievers banquet hall in Duncan village last on Friday, she said government has recently received approved survey plans so that leases can be prepared for tenants of the Debe Industrial Park. “We are conscious of the need for land to facilitate the expansion of your businesses,” she said adding, “the establishment of this Park will facilitate the food processing, furniture manufacturing, auto repairs, printing and packaging and the manufacture of wheelbarrows and roof bolts.” “After being commissioned as far back as 2010, thirty-year (30) leases will be issued by the end of the year,” she said. And in an effort to ensure that local products are able to compete in the regional and international market, she said a National Quality Policy was being developed in collaboration with the Trinidad and Tobago Bureau of Standards while discussions were also taking place on the establishment of a Garment Production Facility, the development of a National Services Policy and the preparation of a National e-Commerce Policy.

She said several incentives were also available to further spur private sector activity including the import duty concession where manufacturing enterprises could benefit from duty free treatment on inputs such as raw materials, machinery and equipment and in some instances, packaging material. “Furthermore, there are tax concessions for the construction of multi-storey car parks and commercial buildings.

This concession could assist in alleviating the traffic congestion that currently exists in the Penal/Debe area and serve to promote business development and expansion as well as job creation,” she said.

Gopee-Scoon also noted that government was pursuing the implementation of the Partial Scope Trade Agreement with Panama in an effort to assist the private sector to increase exports to foreign countries.

“Under the Agreement with Panama, traders can benefit from zero or reduced customs duties on certain products being exported to the Panamanian market. In addition, importers can benefit from zero or reduced duties on specific products being imported from Panama,” she said.