Imbert: Government will continue to facilitate SME market growth

THE government is committed to facilitating the growth of the local capital market, digital transformation, economic diversification and tax transparency.

Finance Minister Colm Imbert made this announcement on October 30, at the annual Capital Market Conference hosted by the Stock Exchange (TTSE) at the Hyatt Regency, Port of Spain.

Imbert lauded recent advancements in digital finance and stock market technologies, which he said were essential for increasing market accessibility and efficiency.

“The digitisation of stock markets has transformed trading, allowing investors to trade from virtually anywhere and reducing transaction costs,” he said, noting the public/private efforts toward implementing electronic systems and IT applications that enhance market transparency and liquidity.

Imbert also addressed this country’s progress toward tax compliance, announcing his upcoming visit to Paris to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, a treaty developed jointly by the Organisation for Economic Cooperation and Development (OECD) and the Council of Europe.

“By signing and quickly ratifying this treaty, TT will signal its dedication to fighting offshore tax evasion,” Imbert said, adding that this progress will help the country aim for EU tax-blacklist removal by 2025.

Imbert stressed the importance of having more small companies listed on the local exchange, which he believes will enrich the market and diversify investment options.

He applauded Solis for recently listing on the TTSE SME market and said the government’s targeted incentives, such as tax waivers, were designed to attract more companies like Solis.

“We’ve adapted our approach, drawing from Jamaica’s mentorship model, to support smaller companies navigating the listing process.”

Imbert stressed the need for a diversified economy and reducing reliance on any single sector.

"Building resilience across manufacturing, tourism, technology, and agriculture is key to sustainable development," he said. This approach, he added, will help TT maintain competitiveness in a rapidly evolving digital economy.