Vice Chancellor of the University of the West Indies (UWI), Professor Sir Hilary Beckles Monday warned that economies of regional countries are “sagging” and there is urgent need for a makeover. “It doesn’t require much detailed assessment to recognise that the Caribbean economy pre-COVID, but now even clearer so post-COVID, the Caribbean economy is in need of new sources of entrepreneurial and innovative action and energy. We have to rebuild these economies,” Sir Hilary said during the official launch of the UWI digital transformation project titled “Empowering the UWI Revenue Revolution with Digital Transformation” The academic said that the continued focus on “old sectors” was no longer yielding the desired economic and social benefits for the region, arguing that the time has come for greater focus on building out a more digital economy if the region is to remain competitive. “Old sectors of the economy have to be reformed, they have to be energised, they have to be restructured; and we are in search of new economic drivers, new forms of converting knowledge into industry and into productivity production,” “This is the time where the regional economy . . . has to be made over. We have to make-over […]
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