ISSUE 21 – Article 3

March 11, 2020

T&T IFC – The Resourceful Ally

Recently at the T&T IFC, we embarked upon a mission of self-reflection. Why you might ask? Because being self-aware enables us to understand what makes us tick, our strengths, our weaknesses and what we can offer the world that others don’t. We found out that we are truly ‘The Resourceful Ally’.

No better words describe our organisation than ‘The Resourceful Ally’. One way to look at an ally is someone who joins another in a mutually beneficial relationship and the welfare and success of financial firms setting up operations in Trinidad and Tobago is of the utmost importance for both investors and the T&T IFC. We believe that by helping investor companies succeed, we succeed. At another level, an ally is someone who helps and supports in times of need and this is at the heart of whom we are. Our culture just like our nation is warm, welcoming and inviting. There’s a human connection that goes beyond business. It’s part of just being a Trinbagonian.

This is how the T&T IFC has been positioning itself in the last quarter at international conferences and other outreach engagements. It was put to the litmus test at the 2nd Outsource to the Caribbean Conference hosted by CAIPA, where T&T was able to differentiate itself from other neighbouring countries. The messaging also received acclaim at the Site Selectors’ Guild summit; the Nexus Nearshore 2019 Conference; and the SSON Finance & Accounting Conference – where potential investors were drawn to the bold imagery and persuasive information. Out of these, the T&T IFC has secured several warm leads which we are currently actively engaging. All leads agree, that they believe we are indeed acting as their ‘resourceful ally’.

In fact, our ‘Personal Facilitation Process’ is something that developed organically because of a general inclination to help others, new to our country. An investor can choose to set up anywhere in the world which comes with risks, both personal and financial. Getting such a large investment decision right is critical because we want to help investors land softly in our country, smoothly hitting the ground running. We are an investor’s ally, lining up everything needed, for example: real-estate options, meetings with Government Ministers, meetings with ancillary service providers such as HR and legal firms, or just helping to open a bank account. T&T IFC is significantly resourceful which means not only are we willing to help, but we can with much significance. We’ve now named this our ‘Personal Facilitation Process’, which comes from whom we are naturally, rather than a forced strategic business decision.

Much of what the T&T IFC is mandated to achieve is interconnected with other stakeholders, not just international investors. To local FinTech companies, we are here to help facilitate the development of the FinTech ecosystem; we’ve held a FinTech engagement session and developed a national FinTech roadmap. For students, that are the future human resources of our nation, we attend career fairs educating on job opportunities and the skills needed in today’s international financial sector. We even work with educational institutions, to close educational gaps by providing soft skills training not offered in traditional courses in tertiary education. To Government, we are your allies in diversifying the economy and making the country less dependent on the energy sector, by providing quality jobs in the financial services sector for our residents. In essence, we are ‘The Resourceful Ally’, to our stakeholders not just international investors.

T&T IFC is a unique investment promotion agency (IPA) not only because of our ‘Personal Facilitation Process’ but also because of our dedication to the financial services sector. This unique selling proposition builds upon what sets the Trinidad and Tobago economy apart from our neighbours. We are a main financial hub in the Caribbean, traditionally home to top international banks and have developed a heightened high density of finance and accounting talent (#1 in the region). It’s what makes our economy special compared to others in the region. As the global financial sector changes with the ever-increasing need for FinTech, ICT talent, new job skills and progressive legislation, there is a need for such an IPA in Trinidad and Tobago. The T&T IFC is proud to be ‘The Resourceful Ally’ for financial sector development.

Image 3 caption – T&T IFC CEO, Omar Sultan-Khan, chats with potential investor at NEXUS 2019 Conference