AGP Executive Report
Last update: 4 hours agoEnergy: The Government says it is assessing investor proposals for a phased restart of the Pointe-a-Pierre refinery, aiming for a commercially viable, fully financed deal. ExxonMobil has completed seismic work on ultra-deepwater Block TTUD-1, with analysis underway to identify drilling targets. Budget and Business: The TT$63.3 billion 2027 budget proposes VAT on foreign digital services and a surcharge on high residential electricity use. Manufacturers welcomed measures to improve tax administration but warned that delayed VAT refunds continue to squeeze cash flow and constrain investment. Tourism and Construction: Work is advancing on a privately financed, 200-room Marriott resort at Rocky Point, Tobago, alongside the opening of the new airport terminal. The resort is expected to create hundreds of jobs and business opportunities. Manufacturing: Non-energy manufacturing grew 11.6% in the first half of 2026, and the TTMA says sustained expansion will depend on tackling barriers to investment and exports.
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