TT crime, violence, still a concern for EU companies

Crime and violence are still some of the top concerns of European companies which may be considering investing in TT, said ambassadors at a press conference on Tuesday.

At the press conference on European Union-TT affairs at the Sagicor Building, Port of Spain, Javier Maria Carbajosa Sanchez – Spain’s ambassador to TT, said there were concerns from companies interested in coming to Trinidad for trade.

He said while issues of crime were universal, it was a recurring concern from companies in Spain that were interested in expanding to the Caribbean.

"There is a very clear link if you don't have a conducive environment in terms of legislation, in terms of encouragement, and in terms of security and crime – people will go somewhere else. It's not something that happens only here (in TT), I know the TT government is aware of that as well and they are doing their best to address the situation.

"When Spanish companies send emails to our embassy in Trinidad to ask about the possibilities of a sector or an area, they ask about legislation in that particular field and about crime."

Responding to the question of crime and it's impact on foreign investment, French ambassador Serge Lavroff said while it was a serious challenge for companies from his country, there were also concerns of legislation, labour relations and the general ease of doing business in TT.

"Crime is only one aspect in the criteria of investment of money in TT. We take into account the crime situation but also fiscal regime and labour laws, but these are all part of the package that companies look at when investing.

"Small companies can't afford to spend a lot of money in security to protect their assets, if the crime is too high the employees may keep their families in their country and send the money back. There is no general rule of thumb for companies in relation to crime specifically. It varies from case to case."

Dutch ambassador Raphael Varga van Kibed said while companies from his country have shown no direct concern to crime while operating in TT, there were concerns for Dutch people visiting TT as tourists.