The establishment of a Tech Investment Fund and a Tech Promotions and Development Company will be part of the Government’s new thrust into creating a digital economy.

This, according to Finance Minister Colm Imbert, as he read the 2020/2021 Budget Presentation in Parliament today.

Imbert said:

“It will be available to all viable tech startups and new tech businesses. It is expected the new digital economy will transform all industries and be vastly different from the old economy where growth was driven by the mechanization of production.”

He said the Ministry of Public Administration and Digital Transformation will play a major role in this transformation.

He said the Ministry will be charged with providing free internet access for all of T&T, with special focus on schools and other institutions, and with creating E-Identities for all citizens.

He said the creation of E-Identities will help to create a digital public service.

Imbert said come December, taxes on all devices such as cellphones will be removed.