Floyd Green, minister without portfolio in the Office of the Prime Minister (OPM), says an international financing model is vital to enhance the Caribbean region’s competitiveness in an increasingly digital global economy.

Green made the call at the CANTO 37th Annual Conference and Trade Exhibition in Miami themed, ‘Enabling the Digital Evolution‘.

He stated that the Caribbean Association of National Telecommunications Operators (CANTO) must develop leapfrog strategies on how the region can lead in information and communications technology (ICT), instead of having a constant need to catch up to the rest of the world.

“As Small Island Developing States (SIDS), we need an international financing model to assist with the sustainable development of technological advancements. We need organizations to focus on areas that require new innovations in science and technology to progress the sector; areas with low required rates of return, but high social impacts,” Green stated in his keynote address on day two of the CANTO conference in Florida.

According to Green, this means targeting areas like farming and fishing to incorporate technological advancements and support ICT education.

“We have to zone in on our educational system, pay more attention to mathematics and science across the region, and get best practices in teaching these subjects as the foundation for developing a society that not only consumes but creates the technologies.”

Green indicated that as part of the vision to “think digital”, Jamaica is actively developing its human resource capacity in ICT.

“In collaboration with the private sector and international partners, we recently launched a coding academy and started the process of mainstreaming coding in the public school system. We have to pay special attention to STEM programmes in our schools that provide the necessary support for the next generation of designers, coders, and software developers,” he continued.

In an appeal to the region, Green indicated that the best way for SIDS to take advantage of the US$4.8 billion global business software and services market, they must use technology to become more efficient in all their services, more inclusive with access, and have to be strategic in targeting the areas that are in demand. 

“Small Island Developing States must develop a knowledge-based and digital society that sees our people well-educated and using their knowledge to drive innovation, entrepreneurship and enhance the quality of life,” he said.

In his call to action to the government ministers at the conference, Green indicated that if the region is to be globally competitive in the digital world, countries must, like Jamaica, implement purpose-built technological infrastructure similar to the National Identification System (NIDS) and the central bank digital currency, JAM-DEX.

“Both are investments in security, financial security and inclusion, improvement in the speed and ease of transactions, as well as a reduction in the cost of doing business. This is a path for all our Caribbean neighbours to take in order to create sustained and strategic investments that will result in a digital society,” he ended.

The conference, which is being held live for the first time in two years, is the annual initiative of the leading telecommunications trade organisation in the Caribbean, CANTO, which is hosting more than 300 guests at the Fontainebleau Miami Beach Hotel from July 17-20.

The conference is attended by CANTO members, government ministers and leaders of ICT from across the region to support extensive networking, discussion, and idea-sharing needed to close the digital divide.