WE DELIVERED !
Economic and Business Development
• Tobago ’ s Gross Domestic Product--an indicator of the economic health of the island--more than doubled between 2001 and 2015
• Data show that for the period 2011 to 2015 , Tobago ’ s GDP grew from $ 1.65 billion to $ 1.9 billion at an average annual growth rate of about 4 %
• Data from the Central Statistical Office ( CSO ) show the rate of unemployment for the first half of 2016 averaged 3.5 % from 13 % in 2001
• The share of the labour force with tertiary education in Tobago is now up to about 20 % from 5 % in 2001
• Both headline inflation and food price inflation on the island are now down to single digit levels from double-digit numbers a decade earlier .
• The Business Development Unit in the Division of Finance and Enterprise Development now provides financial as well as technical assistance to allow Tobagonians to establish and expand their businesses
• The Venture Capital Equity Fund invests in non-traditional business ventures that will not normally receive funding from commercial banks
• Tobago entrepreneurs are supported to enhance their market exposure through THA funding of participation in national , regional and international trade shows
• The establishment of the Cove Eco-Industrial and Business Park has created space to allow Tobagonians to develop and expand their businesses .
6WE DELIVERED - PNM ’ S CONTRIBUTION TO TOBAGO ’ S DEVELOPMENT