‘Need to have value for money when we spend’

TRINIDAD and Tobago is suffering from Dutch disease and the only cure for this ailment is diversifying away from the energy sector.
But according to the Unit Trust Corporation’s executive director Ian Chinapoo, this diversification cannot come overnight and it requires more than physical infrastructure and money.
“Diversification is not a near-term thing. I have seen people say five or ten years, when actually, most of the people who I respect, say it takes a generation. A generation is up to 30 years. Why? Because diversification does not only require physical infrastructure and money, it requires cultural and behavioural changes,” Chinapoo said last week during a post-budget discussion hosted by the Trinidad and Tobago Manufacturers’ Association (TTMA) at the Arthur Lok Jack Graduate School of Business, Mt Hope.
He raised concern that over the years successive governments have touted the need for diversification into various areas including tourism, agriculture, ICT and the creative industry but the fact remains that Trinidad and Tobago is still heavily dependent on energy revenues.

Taken from Trinidad Express Newspapers