Many developing countries possess a primary export industry which disproportionately contributes to their GDP and national wealth. Examples of these include the oil industry in Venezuela, precious minerals in Angola, and columbite-tantalite (coltan) in the Congo. In the Caribbean these commodity exports have historically included natural gas, bananas and tourism, among others.
However, a prototypical feature of these economies is their unstable nature due to changes in preferential market access arrangements, depleting reserves, international commodity price fluctuations, substitution risk and a host of other possible market structure shocks. All of which have historically left Regional economies vulnerable as technology advances and reserves dwindle. These changes have invariably had detrimental economic and social effects on the nations and societies in question.
Indeed the long-term sustainability of many developing economies – including their Governments, larger businesses as well as SMEs – is dependent on the widespread adoption and usage of Information and Communication Technology (ICT) the economic life, and the building of innovative capacity. Businesses must be encouraged to embrace the internet as a competitive, productivity and differentiating tool. Small businesses must be encouraged to innovate and increase the knowledge component of their products – grasping the technology-based tools which now allow them to compete in arenas formerly the exclusive domain of Multi-nationals. This is not simply a “nice to have”; for the many emerging market economies, such initiative is a critical requirement to assure the continued global relevance.
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ICT Ltd. possesses a wealth of experience in the development of National and Regional-level technology plans, connectivity strategies and ICT policies, referencing all aspects of the ICT equation including: Read more…
The development of a knowledge based economy is contingent upon a robust ICT infrastructure. The provision of e-Government services, uptake of e-Business by SMEs, e-Content production/dissemination dissemination and innovation in public education can only happen when there is accessible, ubiquitous, affordable, reliable and high quality ICT infrastructure. In order for ICT to really become an engine for growth and economic prosperity in the Region there needs to be: Read more…
The diversification and growth of emerging economies, to a large extent, depends upon the success of Small and Medium Enterprises (SMEs). As developing economy governments hasten their efforts to increase revenues from sources such as tourism, agriculture and mineral extraction, due to the current global economic realities, it is important that their efforts also include policies and strategies to empower SMEs through Information and Communication technologies (ICTs). Read more…
Regional governments, Public Sector, State Companies, Ministry & Departments have traditionally been ambivalent about the role that ICTs should play within their operations. Many recognise that ICTs can be employed to reduce administration costs, increase the efficiency and the quality of services that they provide, but because of the inexperience with the technology and a lack of understanding of the organizational implications of implementation, officials are sometimes reluctant to pursue strategic ICT investments. Read more…
The need for greater generation of indigenous Historically, peoples of developing economies have had a remarkable capacity for creativity and innovation in the arts, sciences and more recently – business. However, harnessing this capacity to produce content and making it available such that it can be accessed and possibly traded over the internet is now no longer an option for these territories – it is a must. Read more…
Economies and societies throughout the world, and in particular those of the Caribbean, face many pressures for change; particularly developing economies that rely heavily on agriculture, tourism and mineral wealth for economies sustenance are vulnerable. Read more…