Business exec. suggests 3 ways Caribbean can generate jobs, improve economy in 2022

Executive Director Maharaj says creating jobs and opportunity cannot be done overnight but by concentrated efforts 

PORT OF SPAIN, TRINIDAD & TOBAGO — The Caribbean must band together and make collective efforts if it is to create growth, generate jobs and provide opportunities for its people amid unprecedented times and the threat of climate change, according to Executive Director of the Caribbean Export Development Agency Deodat Maharaj.

In a recent opinion piece, the executive director identified three areas of improvement for the region as a whole: the regional capital market, the ease of doing business and economic diversity.

Executive Director of the Caribbean Export Development Agency Deodat Maharaj.

“Quite frankly, business as usual has not served us well and will not work in an equally or even more challenging 2022,” Maharaj said.

“To build a resilient Caribbean, business must play a central and important leadership role in both driving economic recovery and creating climate-friendly growth.

“In essence, a strong and vibrant private sector is core to help manage and solve the challenges we face, which will in turn create opportunities for our people.”

He added, “As a region, we must build on the core asset of our capable and resilient people so clearly demonstrated in these testing times to realize three practical goals that will help fast-track recovery and lay the basis for a resilient Caribbean.”

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    How to generate jobs and growth 

    Going into detail in each point highlighted as a way to create jobs and bolster the Caribbean economy in 2022, Maharaj opined, “There is indeed strength in numbers from both geopolitical and economic perspectives.

    “I am also conscious of the need and scale to attract foreign direct investment at a level that can create the jobs and opportunity. Pooling our countries as one investment destination in areas such as AgTech or renewables can help achieve the scale required.”

    Additionally, on the matter of ease of doing business, he said, “Quite simply, business cannot help drive recovery and play a leadership role in creating jobs and opportunity in the current business environment.

    “It is difficult to do business in the Caribbean… A simple first step is pulling out all the stops to make it easier for national, regional and indeed international enterprises to register and start a business in our region.”

    However, Maharaj also underscored, “Building a resilient Caribbean and creating jobs and opportunity for our people cannot be achieved overnight given the multiplicity of constraints we face.

    “At the same time, there are areas we need to treat with the highest priority…”

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    “3 urgent goals for sustainable growth, opportunity and jobs in 2022 and beyond” by Deodat Maharaj -

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