IDB Promotes Digital Transformation

PRESS RELEASE: Port-of-Spain, Trinidad and Tobago, (May 14, 2021): The Inter-American Development Bank (IDB) in collaboration with Compete Caribbean Partnership Facility and the Chamber of Commerce of Trinidad and Tobago hosted a two-day virtual workshop on May 11th and 12th, 2020 for MSMEs entitled the Digital Transformation Journey. Approximately 30 SMEs in Trinidad and Tobago benefited from tailored solutions towards driving their digital business strategies.

Carina Cockburn, IDB Country Representative in Trinidad and Tobago, in her opening remarks to the two-day workshop explained,

“For the IDB, digital transformation in both the private and public sector will be one of our key pillars going forward. Moreover, this digital transformation must entail a move from digital inclusion to digital development and finally to digital innovation whereby all actors can transition from basic use of ICT to operating at the technological frontier.”

The two-day workshop focused on core areas of delivering practical and implementable knowledge on Digital Transformation to MSMEs which are already exploring and experimenting with core principles and digital platforms. The workshop provided attendees with frameworks and practical tools to develop and implement Digital Business Plans and Sales and Marketing strategies for their businesses whilst measuring established Key Performance Indicators.

The workshop concluded with participating MSMEs being offered an opportunity with WiPay to develop their e-commerce site on the WiShops platform. The IDB looks forward to partnering on this and future interventions that will support digital transformation.