TEN new industrial parks will be constructed during the current fiscal year to satisfy a growing demand by non-energy businesses to set up shop or expand current operations. This according to Evolving Technologies and Enterprise Development Company (E-Teck) president Khalid Hassanali.

Addressing a news conference at the Hilton Trinidad to announce the staging of a special manufacturing symposium between January 25 and 26, Hassanali said E-Teck's mandate was to promote the development of TT's industrial landscape in the non-energy sector, while the National Energy Corporation (NEC) has the same mandate "on the energy side."

He indicated that while there are 20 industrial parks in TT which house non-energy sector businesses, "all of our parks are up to 100 percent occupation capacity and there is demand for industrial space."

"There are people interested in manufacturing (in TT) and investment in manufacturing creates a huge amount of employment." Hassanali said E-Teck is now in the process of establishing ten more industrial parks. One of these parks will be built in Tobago, another in Central Trinidad, one in South Trinidad and three in North Trinidad.

Hassanali also indicated that E-Teck is establishing a business incubation centre at its Tamana In-Tech park, fiscal incentives and an equity fund to help new manufacturers establish their businesses and be able to compete in the global market place.

The E-Teck head said staging of the symposium was very timely given the current expansion taking place in TT's non-energy sector. Hassanali added that the level of manufacturing in TT is becoming more sophisticated and is no longer "purely of the assembly type."

Prime Minister Patrick Manning has alluded to the development of new downstream industries arising out of the establishment of new aluminum and iron and steel complexes in La Brea and Point Lisas respectively.

Head of Industrial Innovation and Entrepreneurial Management at the University of TT, Prof Denise Thompson, said the symposium will provide local manufacturers and other participants with critical information to allow them to compete with rivals in low-cost producing nations such as China and India.