Minister in Economic Affairs and Investment, Senator Chad Blackman, is encouraging those businesses who have not digitised their operations to do so or run the risk of being uncompetitive.
He issued the caution on Tuesday as he delivered the keynote address at the United Nations Conference on Trade and Development’s (UNCTAD) three-day workshop under the theme: Building Resilience through South-South Cooperation and Targeted Policy Strategies at the Accra Beach Resort and Spa.
Mr. Blackman told his audience that a digital platform enhanced the country’s competitiveness through the ability to do transactions quickly and efficiently.
He also pointed out that the Data Protection Act would ensure that the requisite protections were put in place to safeguard consumers’ information.
“Every business must be encouraged from now that all of their operations must be done in a digital manner as much as possible because the global economy in which they are operating is doing so.
“So, therefore, if you are still paper-based, or if you are still fully reliant on only capacity or the old modes of doing business, one, you are going to be uncompetitive; two, you are not going to last in the market due to the harsh realities; and therefore the entire ecosystem of the country must move businesses in the direction of being digitised,” Senator Blackman stated.
The workshop was organised by the Government of Barbados, UNCTAD, and The University of the West Indies and funded by China Aid for Shared Future.
