MINISTER OF TRADE & INDUSTRY MEETS WITH MARUBENI
Photo 1: (L-R) Mr. Randall Karim, Permanent Secretary (Ag), Ministry of Trade and Industry; Mr. Mo Majeed, Chairman, Marubeni Power International of South Jamaica (SJPC); The Honourable Paula Gopee-Scoon, Minister of Trade and Industry; Mr. Ryota Kobayashi, General Manager, Overseas Power, Marubeni Power International; and Mrs. Sandra Welch-Farrell, CEO, SWF&CO.
FRIDAY, 29 SEPT 2023: PORT OF SPAIN, TRINIDAD AND TOBAGO: Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry, met with a Marubeni delegation on Thursday 21 September to discuss further opportunities for investment and business development for the international power corporation operating in Trinidad and Tobago.
The Marubeni delegation included Mr. Ryota Kobayashi, General Manager, Overseas Power, responsible for all of Marubeni’s power activities in the Americas, Europe, Middle East and Africa, Mr. Mo Majeed, Chairman, Marubeni Power International of South Jamaica (SJPC), and Mrs. Sandra Welch-Farrell, CEO, SWF&CO.
Minister Gopee-Scoon encouraged Marubeni to consider the benefits of the Special Economic Zone (SEZ) regime and capitalise on the range of non-energy sectors for development across Trinidad and Tobago, in particular manufacturing, maritime, agriculture and the creative sector. She explained that the regime will, among other things, seek to facilitate technology transfer, encourage public-private partnerships, and encourage firms to reinvest into the Trinidad and Tobago economy.
The SEZ regime is intended to improve business as a result of the creation of a new modern legislative, institutional and incentive framework. The Minister outlined that the framework being set is to promote further avenues for increased local, regional and international commerce, and to promote Trinidad and Tobago as a major regional trade and investment hub.
Marubeni holds a 39 percent equity interest in the Power Generation Company of Trinidad and Tobago (PowerGen). Kobayashi noted that the company’s Trinidad and Tobago’s assets have performed well, and expressed gratitude for the company’s ongoing partnership with the Government of Trinidad and Tobago.
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