PORT OF SPAIN, Trinidad, (CMC) – The Trinidad and Tobago Chamber of Industry and Commerce (TT Chamber) Wednesday said it remains optimistic that with the right balance of short and long term measures, the government can address both the immediate security concerns and the broader issues impacting the business community.

The private sector group commenting on the three-month extension of the state of emergency (S0E) earlier this week, said that a “secure and stable environment is crucial for sustaining investor interest and maintaining confidence in the country’s growth potential.”

The TT Chamber said it recognises the need for the government to extend the SoE, noting that while some members of the business community acknowledge the positive effect of the SoE  in addressing the crime “ there are still concerns regarding its overall effectiveness“.

The private sector group said that this is so “particularly in relation to the scope of police raids and the seizure of firearms, especially semi-automatic weapons, which were initially cited as a key reason for implementing the SoE”.

The TT Chamber said while it supports “any measure” that can help curb crime and contribute to solving this national problem, crime does not have a single cause root.

“A more holistic approach is needed to address the complexity of crime, incorporating short, medium and long term strategies. This includes addressing the social issues that contribute to criminal activity, as well as the operational environment in which businesses function.”

The private sector group said that in terms of investor confidence, it recognises that the SoE may have created some apprehensions among potential investors “particularly those who are newer market entrants or more risk averse.

‘While there is a recognition that is an ongoing challenge in Trinidad and Tobago, some investors have raised concerns about the current situation, and how this might affect their investment decisions.”

But the TT Chamber acknowledged that “many investors understand that countries around the world face similar challenges and some have greater crime rates than Trinidad and Tobago”.

The TT Chamber said it has been “transparent” with the newer investors, explaining that while the SoE is one of the measures in place to combat crime, it is part of a wider strategy.

“We are hopeful that once the objectives of the SoE are achieved in tandem with other strategies, normalcy will return, and Trinidad and Tobago as an investor destination will be restored”.