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Setting up a business in Trinidad and Tobago is quite straight forward.
The Government of the Republic of Trinidad & Tobago (GORTT) encourages foreign direct investment in almost all sectors, with specific focus on the non-energy targeted sectors.
Trinidad and Tobago's success in energy has fueled its rapid development into one of the most industrialized and cost-effective nations in the Caribbean and Central America.
Trinidad and Tobago is a twin island republic situated below the hurricane belt, at the southern-most end of the Caribbean archipelago.
Edan K. Properties manages many complex projects - from purchase to conceptualization, financing and site development. In its role as facilitator, InvesTT has worked alongside Edan K. and played a significant role over the years in the fast-tracking of processes required to implement multi-faceted development projects.
InvesTT facilitated company registration and access to import duty concessions for equipment, engaged the Ministry of Energy & Energy Industries on the placement and inspection of their LPG tanks as well as facilitated smooth entry at Immigration for foreign engineers needed to install equipment and train local staff.
Located in St. Augustine Trinidad, Virtana Inc. is an outsourcing company that delivers high quality robotics software solutions to international technology companies, utilizing engineering graduates based in Trinidad and Tobago.
iQor chose Trinidad and Tobago to set up their Business Process Outsourcing operations in order to satisfy demands from clients for nearshoring solutions. Now with 2 contact centres at various locations in the country, iQor has grown from 60 seats to over 1000 seats with room for further expansion.
In 2015, iQor needed to facilitate the expansion requirements of one of their existing clients (a well-known telecoms brand) by adding a new contact centre to their existing global fleet. Their strategy was to do this from a suitable near shore location. The company also sought a competitive labour cost and labour law environment which would allow them to implement a performance-based employee management system. They were given a deadline for start-up of new operations by September 2015.
Expansion of service
US $7.4 million investment
2 contact centres
iQor is a Florida based global business outsourcing company with 40,000 employees internationally. They are the world’s largest product support services company with a network that spans 66 countries, 5 continents, 22 time zones and 4.5 billion people. iQor Trinidad was established in September 2015 to offer business process outsourcing services. They currently operate two inbound contact centres at Tamana InTech Park and in Barataria.
“The benefit of our Trinidad and Tobago location is that it is newer to the BPO dynamics which allows us to develop local talent to be next level leaders in a global market. Also, Trinidad's location below the hurricane belt allows for less downtime which is a huge benefit to the organisation. With the help of InvesTT we were able to set up operations within a short time frame.”
InvesTT’s role went far beyond iQor’s decision to locate at Tamana InTech Park. Once the lease was signed, the company had little under two months to become operational if they were to satisfy the requirements of their client. InvesTT continued to provide the support iQor needed as a newcomer to T&T, all the way beyond the opening of its doors to meet their September 2015 deadline.
“InvesTT continues to provide support and guidance to iQor especially in facilitating relationships with other stakeholders, their service has certainly met our expectations”.
Based on the request from their client for a nearshore location, iQor’s executives surveyed the Latin American and Caribbean region and reached out to several IPAs including InvesTT. After multiple site visits facilitated free of charge by InvesTT, they concluded that Trinidad and Tobago was their best option.
The service they received from InvesTT was at first world standard, which they appreciated. The agency was thorough in its responses to requests for information relevant to iQor’s investment and once iQor decided to locate in Trinidad, the IPA made the process of establishing the business as easy as possible.
Of particular importance to iQor’s expansion strategy in 2015 was the ability to operate outside of major city centres to facilitate easy access for its employees. Tamana InTech Park offered a decentralized solution to iQor’s initial labour pool which was sourced from the northern and eastern parts of Trinidad. Potential access to skilled graduates from the Park's onsite university at Tamana InTech Park will provide the opportunity for further growth and expansion.
In July 2015, iQor signed its first lease for 14,000 square feet of space on the 2nd floor of the Flagship Building, Tamana InTech Park. On September 8th 2015, iQor opened its first contact centre in the Caribbean in T&T.
In September 2017, two years after its entrance into T&T, iQor opened a second call centre in Barataria (Northern Trinidad) to serve two major online retail clients.
"My experience since 2015 has offered me the opportunity to grow from a Supervisor to an Operations Manager within a short time frame, which has promoted job satisfaction. IQor for me is basically a home away from home as they have gone the extra mile to provide comfort and amenities."