AGP Executive Report

Budget Watch: Finance Minister Davendranath Tancoo presents the 2027 budget tomorrow amid job worries and weak growth forecasts. Business voices are calling for a credible plan to ease foreign-exchange constraints, support investment and use any energy windfall for lasting gains. Energy Jobs: Nutrien’s Point Lisas operations remain idle and Proman has sent 100 workers home, adding to more than 450 direct petrochemical-sector job losses over the past year. Short-term gas contracts are also clouding investment and maintenance planning as NGC’s next terms approach. Offshore Contract: EnerMech won Subsea7 work on the Ginger development, providing pre-commissioning services and a boost for local participation in offshore activity. Regional Trade: CARICOM teams will assess whether the region can supply paints, cement, glass bottles and bitumen, informing future tariff decisions. Business Costs: Industry stakeholders want the Government to reconsider doubled duties on alcohol and tobacco, which Angostura says weighed on revenue and profits.

Energy Investment: EnerMech won a Subsea7 contract to prepare infrastructure for the Ginger offshore project, drawing on its local team and equipment. Jobs and Industry: Proman has sent 100 workers home as Nutrien’s Point Lisas shutdown deepens concern about energy-based manufacturing and employment. Business Climate: More than 16,000 companies were struck off the registry in 17 months, but the figure includes compliance failures and does not mean all had closed or were active businesses. Budget and Growth: Ahead of Monday’s 2027 Budget, aggregate producers urged the Government to use expected energy revenues for lasting investment and to ease licensing bottlenecks that constrain supply and raise construction costs. Regional Trade: CARICOM teams will assess whether the region can meet demand for paints, cement, glass bottles and bitumen, informing future tariff decisions.

Energy Jobs: Proman is cutting about 100 jobs, or 9% of its Trinidad workforce, as gas shortages pressure Point Lisas. After Nutrien’s indefinite shutdown, former workers are seeking legal advice over severance. Budget and Diversification: Economist Winston Dookeran says the 2027 Budget must address Nutrien’s closure and chart a credible path to diversification. Food Investment: A US Embassy-facilitated roundtable is seeking investment across the food system, including transport, cold storage and ports; T&T’s food import bill exceeds US$1 billion a year. Economic Outlook: The World Bank projects T&T’s economy will contract in 2026. Corporate Results: National Enterprises reported TT$254 million in profit for the nine months to June 2026.

Energy and Jobs: Proman Trinidad has retrenched about 100 workers, or 9% of its local workforce. Nutrien workers affected by the company’s indefinite nitrogen-plant shutdown are organising and seeking legal advice over severance; Nutrien cited uncertainty over gas supplies. Economic Outlook: The World Bank forecasts a contraction for T&T in 2026, while businesses have flagged foreign-exchange and customs concerns ahead of the Budget. Regional Trade: CARICOM teams will assess the region’s ability to supply paints, cement, glass bottles and bitumen, informing future tariff decisions. Tourism Links: InterCaribbean plans to increase its Trinidad service from four flights weekly to daily and add about 50% more seats ahead of Carnival. Agriculture: More than 30,000 hectares have been identified for cocoa rehabilitation as the Government targets a revival of the premium export sector.

Regional Trade: CARICOM teams will assess whether the region can meet demand for paints, cement, glass bottles and bitumen, informing future tariff decisions. Air Links: InterCaribbean plans to move from four weekly Trinidad flights to daily service, adding about 50% more seats ahead of Carnival. Business Climate: Trade Minister Satyakama Maharaj says forex shortages and Customs delays remain major private-sector concerns; a new system is expected to cut yacht clearance from four hours to under 15 minutes. Energy and Jobs: Nutrien workers are considering legal action over severance after the company’s indefinite Point Lisas shutdown. The closure, linked to gas supply constraints, puts jobs and exports at risk as Government talks continue. Company Results: Prestige Holdings’ nine-month profit fell to TT$37.5 million from TT$59.3 million, despite sales growth, amid higher foreign-exchange and supplier costs. National Enterprises, by contrast, reported a TT$254 million profit for the nine months to June. Economic Outlook: The World Bank projects Trinidad and Tobago’s economy will contract in 2026.

Business Climate: Trade Minister Satyakama Maharaj says foreign-exchange shortages and Customs delays remain major private-sector concerns, while a new Sail Clear system is expected to cut yacht processing from four hours to under 15 minutes. Corporate Results: Prestige Holdings’ nine-month profit fell to $37.5 million from $59.3 million a year earlier, despite sales growth, as foreign-exchange and supplier costs weighed on earnings. Energy: EnerMech won a pre-commissioning contract for Subsea7’s Ginger offshore development, while national natural gas liquids output rose for a second straight year in 2025 to about 18,000 barrels a day. Jobs and Growth: Nutrien’s indefinite shutdown of its Point Lisas nitrogen plant puts about 350 jobs at risk amid gas-supply constraints. The World Bank projects T&T’s economy will contract in 2026. Business Payments: Contractors are urging the Government to establish a $200 million–$400 million fund to clear verified overdue payments, with some firms waiting up to two years.

Regional Connectivity: Contour Airlines has launched twice-weekly direct flights between Trinidad and Dominica, a 51-minute service aimed at boosting tourism, trade and business travel. Business Pressure: Contractors are urging the Government to set aside $200 million to $400 million to clear overdue payments for completed State projects, warning that delays are straining firms and workers. Energy and Jobs: Nutrien’s indefinite closure of its Point Lisas nitrogen operations puts about 350 jobs at risk and deepens concerns over gas supply, exports and public revenue. T&T’s natural gas liquids output, however, rose for a second straight year in 2025, reaching about 18,000 barrels a day. Economic Outlook: The World Bank projects the economy will contract in 2026, as the Central Bank sets out a new five-year strategic plan. Corporate Results: National Enterprises returned to profit, reporting TT$254 million for the nine months to June.

Energy and Jobs: Nutrien’s indefinite shutdown at Point Lisas, blamed on gas-supply constraints, puts about 350 jobs at risk and adds pressure on exports and revenue. The Energy Chamber is urging investment incentives in the 2027 budget as oil and gas production declines. Offshore Prospects: ExxonMobil says it hopes to replicate Guyana’s oil boom off Trinidad and Tobago, though no project details were provided. Economic Outlook: The World Bank forecasts a 0.2% contraction in 2026, after a 0.5% decline in 2025, before 2.5% growth in 2027. Corporate Results: National Enterprises returned to profit, reporting TT$254 million for the nine months to June, largely on a swing in portfolio valuations; operating profit was steady at TT$56 million. Business and Finance: CariCRIS reaffirmed T&T’s CariAA rating with a stable outlook, while the Central Bank launched a five-year plan focused on technology, agility and financial stability. Local Enterprise: Retired communications professor Mervyn Crichlow has turned backyard hydroponics into a business supplying kale to a supermarket chain.

Economic Outlook: The World Bank expects Trinidad and Tobago’s economy to shrink 0.2% in 2026, after a 0.5% decline in 2025, before a projected 2.5% rebound in 2027. Energy and Jobs: Nutrien’s decision to shut its Point Lisas nitrogen operations indefinitely puts about 350 jobs at risk and deepens concern over unreliable gas supplies. The Energy Chamber is urging measures in the 2027 Budget to revive oil and gas investment as production falls. Credit Rating: CariCRIS reaffirmed T&T’s CariAA sovereign rating with a stable outlook, citing financial-sector strength and adequate reserves, despite subdued growth. Central Bank: A new five-year plan sets out to make the Bank more agile and technology-driven, with a focus on identifying risks and strengthening financial stability. Employment: Massy Cat workers face potential retrenchment as the group transfers its Caterpillar business to MACORP; the final number of affected employees is still being determined. Regional Links: Contour Airlines has launched twice-weekly nonstop service between Trinidad and Dominica, adding another regional travel option.

Fertiliser shock to jobs and exports: Nutrien says it will indefinitely shut its Trinidad nitrogen operations at Point Lisas, after gas constraints and uncertainty over supply and costs; the move puts about 350 workers at risk of retrenchment, with employees alarmed by “bare minimum” severance calculations. Government keeps talking: Energy Minister Roodal Moonilal insists the door is not closed, saying workers were reported for duty and discussions with Nutrien are ongoing to find a future for the complex. Gas supply pressure mounts: Former energy minister Stuart Young calls the closure avoidable, while Conrad Enill warns more companies could leave if Trinidad can’t guarantee enough natural gas at competitive prices. Portfolio reshuffle: Prime Minister Kamla Persad-Bissessar transfers NESC, TTHTI, MIC, and YTEPP from the Tertiary Education and Skills Training ministry to Sport and Youth Affairs Minister Phillip Watts. Water strain from energy operations: Low dam levels and a Desalcott restart delay have triggered discoloured water and longer waits in some communities. Aviation and business links: Contour Airlines begins twice-weekly Trinidad–Dominica service, boosting regional connectivity. Local governance shake-up: The Municipal Corporations (Amendment) Bill proposes tighter councillor controls, including loss of seat if councillors resign or are expelled from their party. Sports funding and culture: Sports Minister Phillip Watts hands out TT$10.7m in grants, while Trinidad prepares for the state-assisted funeral of calypso icon The Mighty Sparrow.

Energy & Jobs: Nutrien says it will shut down its Trinidad nitrogen operations at Point Lisas indefinitely, blaming ongoing natural gas constraints and uncertainty—while the Energy Chamber warns of knock-on losses for jobs, exports, foreign exchange and government revenue. Local Government Reform: PM Kamla Persad-Bissessar pushes ahead with the Municipal Corporations (Amendment) Bill, 2026, creating three new boroughs/municipal structures and adjusting boundaries; opposition figures accuse “gerrymandering,” while Chaguanas Mayor Faaiq Mohammed welcomes city status plans. Finance & Business: Caribbean rating agency CariCRIS reaffirms Trinidad and Tobago’s sovereign credit ratings with a stable outlook, citing macro stability and reserves; Prestige Holdings reports profit pressure from forex costs and higher NIS contributions. Corporate/Community: Innovation groups sign the “Buy Local, Build Trinbago” charter to strengthen the local innovation ecosystem. Aviation & Tourism: Contour Airlines begins Trinidad–Dominica service, boosting regional connectivity. Sports & Culture: Pan Trinbago threatens a Tobago Carnival boycott over $1.7m in outstanding payments. Public Safety/Policy: Journalists call for urgent amendments to the Special Operations Bill 2026 to protect press freedom and sources.

Fertiliser Shock: Nutrien says it will indefinitely shut its Trinidad nitrogen operations at Point Lisas, citing ongoing natural gas constraints and uncertainty—after a controlled shutdown last year—prompting warnings from the Energy Chamber about job losses, export and revenue impacts. Local Government Reform: PM Kamla Persad-Bissessar defends plans to create three new municipalities/boroughs (Barataria, St Augustine, Couva) and grant Chaguanas city status, while Opposition Leader Pennelope Beckles accuses the Government of trying to “steal an election” via boundary changes. Central Bank Focus: The Central Bank launches its 2026/27–2030/31 Strategic Plan “Insight to Impact,” aiming to strengthen its role in a changing financial landscape. Aviation Pay Pressure: Trinidad and Tobago Airline Pilots’ Association demands over $20M in outstanding payouts ahead of Budget 2027. Innovation & Trade: Three innovation hubs sign the “Buy Local, Build Trinbago” charter to help entrepreneurs commercialise and scale local ideas. Energy Reliability Work: CORPOELEC reports adjustments and component replacements at Tinajitas and Guanarito substations to keep power flowing to over 110,000 residents. Business/Finance News: BancAtlantic Capital plans a Trinidad outreach event on Oct 7 as part of a Caribbean expansion push. Community & Culture: Pan Trinbago threatens a Tobago Carnival boycott over $1.7M in unpaid balances; and the country marks the passing of businessman Sean Roach, a long-time business and sport supporter.

Industrial Relations & Manufacturing: The Trinidad and Tobago Manufacturers’ Association (TTMA) mourned the death of Sean Roach of Langston Roach Industries, calling him a respected contributor to the local manufacturing and business community. Environmental Compliance: The EMA met event promoters and venue holders to explain the Noise Variation process under the Noise Pollution Control Rules, urging responsible sound management and early applications when noise limits are expected to be exceeded. Local Innovation Push: The Ministry of Trade, Investment and Tourism signed the “Buy Local, Build Trinbago” Charter with three innovation hubs—Innovation Association of T&T, Founder Institute Caribbean and the La Brea Association for Innovation—to support MSMEs with scaling, quality and market access. Fertiliser Sector Shock: Nutrien says it will indefinitely shut its Trinidad Nitrogen operations at Point Lisas, citing ongoing natural gas supply constraints and uncertainty, after a controlled shutdown last year. Housing Affordability Pressure: Habitat for Humanity’s global report says 75% of respondents cut back on essentials to afford housing, with many delaying medical care—an issue resonating with cost-of-living concerns. Air Connectivity & Tourism: Caribbean Airlines announced a new weekly nonstop Tobago–Toronto service from Oct. 25 and the resumption of Trinidad–Caracas flights from Oct. 31, aiming to boost travel links for business and tourism. Budget Watch: Social agencies are calling for stronger funding in the Oct. 12 budget, warning that inadequate support is limiting services for vulnerable families and children. Exchange Rate Debate: Economists and business voices are urging a review of the T&T dollar’s value amid ongoing foreign exchange shortages and access challenges.

Cabinet & governance: Prime Minister Kamla Persad-Bissessar’s latest ministerial portfolio reassignments are being framed as routine efficiency moves by some, while others read them as political signals. Budget pressure: Social agencies are urging higher, better-targeted funding in the Oct. 12 budget to support families and children, warning current allocations aren’t meeting basic needs. Public health: A new look at physical activity argues “one-size-fits-all” guidance may miss the reality that many people exercise out of necessity, not choice. Foreign exchange & inflation: Economists and business voices are calling for an exchange-rate review amid persistent US-dollar shortages, with warnings that devaluation alone won’t fix access problems. Labour & jobs: Unions are pushing for wage settlements, backpay and job-focused spending ahead of the 2027 budget, even as deficit concerns linger. Aviation & tourism: Caribbean Airlines will add a weekly Tobago–Toronto non-stop from Oct. 25 and resume Trinidad–Caracas flights from Oct. 31, boosting connectivity for business and winter travel. Regional integration: CARICOM’s free-movement push faces hurdles for small states, with capacity limits and border-control anxieties slowing labour mobility. Energy & trade: Qatar’s UCC says it’s in talks about entering Venezuelan oil and gas areas, while T&T’s wider energy debate continues to centre on how gas and policy translate into national value.

Air Connectivity Boost: Caribbean Airlines will add a weekly non-stop Tobago–Toronto service from Oct. 25 and resume Trinidad–Caracas flights from Oct. 31, with further charter activity to Panama—aimed at lifting tourism, business travel and regional links. Budget Pressure Points: With the Oct. 12 budget looming, economists and a business voice are urging a serious look at whether the T&T dollar is appropriately valued amid persistent FX shortages, warning devaluation alone won’t fix access to US dollars and could hit essentials. Food Security Focus: An agriculture consultant says the 2027 budget must measure whether agri-spend actually raises production and farm viability, while a supermarket boss points to external shocks—fuel, shipping, geopolitics and freight disruptions—driving food price volatility. Renewables Reality Check: A new Ember report estimates the Caribbean installed far more solar than official stats, but says policy and regulation bottlenecks are slowing the shift away from imported fossil fuels. Corporate Moves: Massy Holdings is selling its Trinidad Caterpillar business for US$16m, expecting a US$9.8m loss tied largely to severance, as it redeploys capital. Innovation Push: The Innovation Association calls for stronger coordination and investment in R&D and entrepreneurship to build a more effective national innovation ecosystem.

Aviation & Tourism: Caribbean Airlines says it will resume Trinidad–Caracas flights on Oct. 31 and launch a weekly non-stop Tobago–Toronto service from Oct. 25, plus Trinidad–Panama charters from Dec. 1—moves aimed at boosting tourism, trade and connectivity. Public Finance & Labour: Unions are pressing for 2027 Budget support on wage settlements, backpay and jobs, with economists warning another deficit could strain the economy; the Budget is set for Oct. 12. Government Operations: PM Kamla Persad-Bissessar’s latest cabinet realignment took effect Sept. 30, shifting major housing and self-help programmes to Land and Legal Affairs Minister Saddam Hosein. Education Funding: Tertiary Education Minister Prakash Persad says Government is considering funding to expand the GATE tuition assistance programme after last year’s $450m spend. Food & Consumer Watch: GraceKennedy Foods recalls specific batches of Grace Tropical Rhythms Fruit Punch in T&T and other Caribbean markets, saying it’s a quality issue, not a safety concern. Business & Trade Diversification: Trade Minister Satyakama Maharaj says the push is to diversify beyond oil and gas through trade, investment and tourism, with Government acting as facilitator for private sector growth. Crime & Security: A Guardian review of US ATF tracing data reports nearly three-quarters of firearms recovered in T&T and submitted for tracing in 2025 were linked to the US market. Corporate Moves: Massy Holdings expects an accounting loss of about US$9.8m tied to its Caterpillar business sale, even as it expects about US$16m in gross cash proceeds.