Trinidad and Tobago has unveiled its first Science & Technology Park, bolstering its ICT infrastructure to lure foreign investments in technology sector.
Built on a sprawling propertty that was once an airbase for the U.S. military, Tamana InTech Park is designed to pay the way for Trinidad and Tobago to position itself as an ideal location for technology investment in the Caribbean.
The local government says the construction of the tech park is the first step towards grooming a knowledge-based economy.
Trade & Investment Minister Vasant Bharath, who inaugurated the facility, informed that the government had also wrapped up a deal with Columbus Communications to build a data center at the campus.
The 3- tier data center will offer hosting service and help companies recover data at event of a natural disaster.
The twin-island nation hopes to focus on attracting technology firms that create high-valued jobs and use the lease earnings to repay the loans it borrowed for the construction.
Construction of the park got underway sometime in 1999 but was stopped midway due to lack of funds. According to local newspapers, the work restarted in 2006.
Trinidad & Tobago, whose economy is heavily dependent on oil and energy, wants to focus on labor intensive sectors such as BPOs, tourism and agro-processing.