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Pest Analysis of Trinidad and Tobago

Autor:   •  March 30, 2011  •  Case Study  •  2,398 Words (10 Pages)  •  5,165 Views

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The Republic of Trinidad and Tobago is located in the Caribbean, which consists of two islands, and the population of approximately 1.3 million. These islands are in the Caribbean Sea at the north east coast of Venezuela. For many years slavery was a common practice in these two former British colonies. In 1889 Trinidad and Tobago were made a single colony. Trinidad gained their independence from the UK in 1962. The Trinidadian government is run under a parliament democracy, similar to the UK government system, yet the most unique of the Caribbean.

Trinidad has a two-party system and a bicameral parliamentary system. Bicameral is a particular governmental practice of having two legislative, as well as two separate House of Representatives. The head of state of Trinidad and Tobago is the President, currently George Maxwell Richards. The president is elected by the Electoral College consisting of the full membership of both houses of Parliament. The head of government is the Prime Minister, Patrick Manning, is elected from the results of a general election which takes place every five years. Currently, Patrick Manning has been working proactively to make necessary changes in the T&T to rebuild the economy and keep civil order. This includes the constant redrafting of the Trinidadian Constitution.

The government has recent added its legislation a property tax to protect the owners from squatters. The receipt of payment to property tax would now serve as proof of ownership. Since the addition of the new tax, citizens of T&T have been ranged and been protesting. They feel that this was an unjust change in a developing yet under develop society. It does not help that the last President of T&T, was sentence two years for corrupt activities while in office Corruption in the government tends to loss citizens trust. Current Prime Minister, Manning replied to citizen stating, "The highest tribute one can pay to the nation is to commit oneself to nation building, adding that citizens in their own way "should pledge to do their duty and serve the land faithfully". Which I most definitely agree since many other nations, regardless of economic state, citizen still have to pay property taxes.

Trinidad and Tobago Securities and Exchange Commission (TTSEC) is a regulatory body for various industries in Trinidad. TTSEC regulatory agency that is independent from other branches of the government. TTSEC ensure that all businesses comply with the provisions of the Securities Industry Act 1995 and the complementary regulations, the Securities Industry By-laws 1997. The organization functions are similar to US SEC (Securities Exchange Commission), and have the public best interest at hand. This allow to government to make sure all amalgamations done in the country is done effectively and ethically. They act as enforcers for the Security Act of 1995 to


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