COUNTRY FOCUS : CARIBBEAN
The IDB report emphasizes the importance of digital infrastructure development and the acquisition of digital skills . Enhancing access to high-speed Internet , expanding broadband coverage and investing in digital education and training programs are crucial steps for businesses to harness the benefits of digital technology fully .
Moreover , the report highlights the need for Caribbean businesses to embrace innovation and entrepreneurship , encouraging a ‘ culture of innovation ’ to drive creativity , problem-solving and adaptability within organizations .
By fostering collaboration between businesses , academia and research institutions , the region can create an ecosystem that promotes knowledgesharing , technology transfer and the development of ‘ ground-breaking ’ solutions , the report said .
In addition , governments and policymakers play a vital role in creating an enabling environment for businesses to thrive . Implementing supportive policies , providing financial incentives for innovation , and streamlining regulatory processes can encourage entrepreneurship and stimulate investments in digital technology .
Improving productivity and embracing digital technology are seen as essential components of a comprehensive strategy for Caribbean businesses to enhance their competitiveness and resilience . The report recognizes the journey towards improved productivity and Digital Transformation may present challenges – but the rewards are significant . p
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