Business View Caribbean | February 2021

24 BUSINESS VIEW CARIBBEAN FEBRUARY 2021 assist the right people, address the right issues at the right time. Having a strong statistical system has placed T&T in good standing with the World Bank and other institutions that assess the credit rating of nations. Through the Ministry’s Town and Country Planning Division, the construction permitting process has been automated and is being digitised to allow contractors, developers and citizens enhancing their properties to do this more easily, in a transparent and efficient setting. The platform used is called DevelopTT. The main aim is to increase the ease of doing business in T&T, not only for locals, but for foreign investors as well. The construction sector continues to be one of the positive areas for economic stimulation, therefore a system such as DevelopTT will enhance and accelerate the pace at which approvals are sought and make the process more easily navigated to get projects from idea to reality. In November 2020, the Ministry signed on to two major initiatives to support national competitiveness and innovation through our mantra of sustainable development. 1. A national manpower plan, focusing on the needs of businesses now, as well as the needs of businesses in the future was agreed to with UNICEF. This will focus on the current state of the job market and the education system with the need to prepare students from primary to tertiary levels for the world of work and for job creation as well. This is expected to be completed in 2022. putting people first-human capital formation, through the provision of proper facilities required for education, health and overall wellness. Many of the projects of the PSIP create employment and foster socio-economic well- being. The Planning and Development Ministry works with all Government Ministries to develop the policies, plan the spending necessary, administer the PSIP budgets and negotiate with international partners for financial and technical support to make national development happen. The transformation of the Central Statistical Office (CSO) to the National Statistical Institute of T&T through this ministry is one project to ensure the necessary national data needed for evidence-based decision making and coordination of the national statistical system can be enhanced. A strong National Statistical Agency such as the CSO is vital to build investor confidence, ward off economic downgrading and ensure that the right decisions are made to