August 06, 2012:
Minister of Local Government, Dr Surujrattan Rambachan I considering introducing legislation to make corporate social responsibility mandatory.
The proposal, titled the Business Improvement District (BID) concept is to be adopted from the United States. President of the Downtown Owners and Merchant Association (DOMA), Gregory Aboud said it has "worked wonders" there. If implemented business owners in the capital city would have to pay fees to go towards upkeep and development of Port-of-Spain.
The announcement was made during a meeting at Nicholas Towers, Port-of-Spain.
Aboud said he asked Rambachan to consider recommendations for the legislation, which would obligate business members in Port-of-Spain to contribute to a central business fund.
As a result of this co-operation with DOMA, Rambachan said he was positive of a resuscitation of economic activity in Port-of-Spain.
“I believe that cities succeed when businesses succeed and when businesses prosper because there are loyal customers and loyal customers cause sustainable jobs in communities and when you put all of that together what you get is economic expansion,” Rambachan said.
Rambachan said will “obligate” owners of the businesses or tenants to make a nominal contribution, which will be worked out on a formula.