The Caribbean must urgently transition from a consumption-based society to one rooted in innovation, production, and export if it is to ensure long-term economic prosperity, according to Executive Director of the Caribbean Export Development Agency, Dr. Damie Sinanan.
Speaking at the opening ceremony of the 2025 Caribbean Investment Forum (CIF) in Montego Bay, Jamaica, on Tuesday, Dr. Sinanan issued a clarion call for regional stakeholders to rethink traditional economic models and adopt forward-looking investment strategies. His remarks were made before a gathering of over 500 delegates from more than 20 countries, attending the three-day forum under the theme “Transforming Our Future: Catalyzing Innovation and Investment.”
“We cannot build resilient economies on consumption alone,” Sinanan said. “We have to move beyond survival mode and into strategic investment in the sectors that will grow our GDP, create jobs, and secure our future.”
The forum, hosted at the Montego Bay Convention Centre, brings together heads of government, business leaders, and development partners to explore investment opportunities in digital transformation, sustainable agriculture, and green energy. Sinanan emphasised that the region cannot afford to lag behind in adopting these global trends, particularly given the economic and environmental vulnerabilities of Caribbean states.
“If we are serious about food security, climate resilience, and energy independence, then we must attract the kind of investments that bring new technology, open new markets, and foster local entrepreneurship,” he added.
Sinanan also stressed the importance of eliminating bureaucratic obstacles that hinder innovation and deter foreign and local investors. “It’s not enough to have vision. We need action. We need the policies and the political will to make the Caribbean a place where business is easy, scalable, and sustainable,” he declared.
In a video address to the forum, Jamaica’s Prime Minister Dr. Andrew Holness echoed Sinanan’s sentiments and underscored the need for the Caribbean to modernise its economic foundations. He outlined a vision of a region powered by clean energy, driven by technological innovation, and secured through resilient infrastructure and agricultural systems.
“The Caribbean of the future is one that leverages technology to drive productivity, harnesses clean energy to power growth, strengthens infrastructure to enhance competitiveness, and modernises agriculture to ensure food security,” Prime Minister Holness stated.
He also highlighted the strategic importance of presenting the Caribbean not as fragmented island nations but as a cohesive and competitive economic bloc situated at the crossroads of the Americas.
“This forum is a declaration of our collective intent to present the Caribbean as a globally competitive and sustainable investment space,” Holness added.
With mounting global interest in sustainable development and emerging markets, CIF2025 serves as a pivotal platform for shaping the future of the Caribbean economy—placing innovation, integration, and investment at the forefront of regional growth strategies.
Stay informed with the latest news and updates from SKN Source! Click here to join our WhatsApp channel and get updates straight to your mobile. Don’t forget to follow us on Facebook for more stories and insights!
Be the first to comment on "Caribbean Urged to Shift from Consumption to Innovation and Export for Sustainable Growth"