Guiding Document for the Development of a New Three Year

Strategic Plan for InvesTT Ltd

Background
The Board and Management of InvesTT will develop a three-year
strategic plan for the fiscal period 2017-2019. The previous strategic
plan catered for three years of targets and comes to an end in fiscal
2016.
The Government Policy Framework (PNM 2015 Manifesto) (GPF) and
the Ministry of Trade Strategic Plan, which will be completed in midJune, will guide the development of the plan as it is critical to align any
current and future strategy for the development of InvesTT into the
overall strategic intent of Government.
The Government Policy
Framework provides for a shift in priority sectors to:
1.
2.
3.
4.
5.
6.
7.
8.

Fish and Fish Processing

Agribusiness
Software Design and Applications
Creative Industries
Maritime Services
Aviation Services
Financial Services
Tourism

The GPF only makes mention of investment in terms of reforming the

Foreign Service to promote investment internationally and in
promoting and encouraging investment in the oil and gas sector.
Therefore, for an understanding of Government policy on foreign and
local direct investment in the non-oil and gas sectors, InvesTT will take
guidance from the Ministry of Trade and Industrys Strategic Plan. In
draft form the work of InvesTT fits under Goal 1 of the plan, which is
Increased Business Output and Investment.
Under that Goal,
strategies 1.3 (Sustainable Business and Investment Facilitated) and
1.4 (Comprehensive Industry Research and Data Systems Fully
Implemented), directly relate to the work of InvesTT and the outcomes
of strategy 1.2 (Government Services Automated and Business
Processes Reengineered) will have a direct impact on the services
offered by the company. It is also expected that InvesTT will align its
Core Values to those established by the Ministry of Trade and Industry
in its Strategic Plan, which are:

Respect
Trust

Results Oriented
Commitment and Dedication
Professionalism
Integrity

Requirements
The Board and Management will need to create a strategic plan that
accomplishes the following:

Clarify the suitability of the mandate given policy and strategic

changes at the Government level
Perform a global, regional and local scan of the investment
promotion field to understand the current positioning of the
agency in those contexts
Understand global best practice in the field
Define all key terms
Analyse past performance of the agency (SWOT)
Establish a Vision, Mission, Objectives and Strategy
Set annual goals for the achievement of objectives
Determine the resources required to achieve those objectives
Determine the resources available
Determine methodology for addressing gaps

Proposed Methodology
In order to achieve the optimum outcome it is proposed that the
following steps are followed:
1. Management prepares via a two day workshop an outline of the
strategic plan for the approval of the Board at the Board Meeting
of July 2016. This will serve as the initial stage gate. InvesTTs
current strategic plan will be used as a guide for the
development of the various sections of the plan to ensure
continuity of core initiatives such as engagement with foreign
missions and policy advocacy. (Workshop Week of July 11th) MTI
Director of Policy, Randall Karim joins the team for one of the two
days to guide on the Ministrys strategic plan.
2.

Management facilitates a one day workshop with all staff in order

to present the initial outline strategic plan and elicit
feedback/input. It is expected that staff input be carefully
considered in the development of strategic pillars as well as
operational approaches. (Week of July 18th)

3. Board meets with Management to review suggestions for the core

elements of the plan (July - half day session date to be
confirmed with the board in light of the changes by the Ministry.)
4. Management completes first draft of the plan for Board review
(July 29th)
5. Management facilitates a half day workshop with staff to present
first draft of plan and elicit further feedback. (Aug 9)
6. Board meets with Management for critical review of the Strategic
Plan (August 16th, half day session)
7. Submission of final draft of the Strategic Plan (August 30th)
8. Final Approval and Submission to MTI (September 13th)