Can The Castries Market Redevelopment Really Deliver?

THE STAR BUSINESSWEEK AUGUST 24, 2019

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IN THIS EDITION OF

CAN THE CASTRIES MARKET REDEVELOPMENT REALLY DELIVER? Redevelopment work of Castries Market is under way. With the Saint Lucian government having set aside $32 million in this year’s budget, the project has substantial financial firepower behind it. However, as the experience of other market redevelopments alongside the success of ongoing sites around the world shows, it takes more than money and modern amenities to make a market a success.

BY ED KENNEDY, STAR BUSINESSWEEK CORRESPONDENT Continued on page 4

SBW THE STAR BUSINESSWEEK

Attracting Private Capital to Public Infrastructure In the run-up to this year’s hurricane season much was made of the need for more resilient infrastructure.

Infrastructure that can withstand natural disasters, deliver services in the face of significant disruption and be cost-effective and sustainable over the long term.

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ECLAC Executive Secretary Alicia Bárcena

UWI Celebrates 70 years with Ambitious Plans A centre of learning, a hub for advocacy, a think tank for policy makers – The University of the West Indies (UWI) celebrated its 70th anniversary last year and in those seven decades has played a central role in the life of the region.

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Initial construction under way of the Market redevelopment.

Image: Allen Chastanet Facebook

A monument at Mona Campus in Jamaica honouring UWI graduates who are, or have been, Heads of Government.

Photo courtesy The University of the West Indies

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AUGUST 24, 2019

MONEY LAUNDERING

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BRUSSELS PLANS TO REVIVE MONEY LAUNDERING BLACKLIST Previous bid to name non-EU countries ran into diplomatic row with accused countries

BY MEHREEN KHAN, FT CORRESPONDENT IN BRUSSELS

Brussels will use a new methodology to decide which territories are to be included in the new money laundering list © Paulgrecaud/Dreamstime.

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russels is to revive a blacklist of non-EU countries which it accuses of money laundering, after a previous attempt was shot down by European capitals when it named Saudi Arabia and four overseas US territories.

Vera Jourova, the EU’s justice commissioner, told the FT that the incoming commission would by October unveil a revamped methodology to identify overseas jurisdictions which are failing to crack down on money laundering risks and terrorist financing.

Brussels’ fresh push to produce its first independent blacklist comes after 27 out of 28 EU member states blocked the publication of an initial draft in February, in an unprecedented rebuff to the commission. Governments led by the UK, Germany and France complained they had been blindsided by the initiative and said the list was not drawn up in a “transparent and

The assessment using the new methodology will come with a new result - Vera Jourova

credible process”.

Ms Jourova told the FT the rejection “is still not easy for me to swallow” but the commission would forge ahead with a fresh blacklist using a new methodology that has been devised in co-operation with EU capitals.

“I believe we honestly did our best to have the methodology right and to have the assessment right,’’ said Ms Jourova, who has been nominated by the Czech government to serve a second term as Prague’s EU commissioner from November.

“The member states were critical with the methodology for two reasons: insufficient involvement from their side in the process and insufficient communication with the territories likely to be listed,” Ms Jourova said. “We have admitted this point and said we need to communicate earlier with the states that might appear on the list. That is why we are now reviewing the methodology.”

The initial draft named 23 jurisdictions including Saudi Arabia, Guam, the US Virgin Islands, American Samoa and Puerto Rico — none of which are named on an international blacklist prepared by the Financial Action Task Force, the global authority on money laundering. Their inclusion sparked fierce lobbying of EU states’ national capitals by Riyadh and drew sharp criticism from Continued on page 6

INFRASTRUCTURE INVESTMENT

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AUGUST 24, 2019

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ATTRACTING PRIVATE CAPITAL TO PUBLIC INFRASTRUCTURE

BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT

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n the run-up to this year’s hurricane season much was made of the need for more resilient infrastructure.

Infrastructure that can withstand natural disasters, deliver services in the face of significant disruption and be costeffective and sustainable over the long term.

While all Caribbean citizens and policymakers agree on the need for upgraded and modern infrastructure, what’s less obvious is how these resilient transportation networks, utilities and physical facilities will be financed. Typically the heavy burden of infrastructure costs in the region are shouldered by government, contributing significantly to the region’s rising public debt, but there are a number of ways to make the sector more profitable and more palatable to would-be investors.

EXPENSIVE FAILURES Infrastructure failures (downed power lines, collapsed bridges, flooded roads, etc) cost households and businesses in low- and middle-income countries at least US$390 billion a year, according to the World Bank Group. And the Caribbean is especially vulnerable given the frequent onslaught of unpredictable weather such as flooding, tropical storms, hurricanes and earthquakes.

When critical services go down, it sends shockwaves through a country’s economy, damaging productivity, bringing supply chains to a halt and suspending business for SMEs which can barely afford to miss a day’s takings. The resulting disruption also tarnishes a country’s reputation and may cause potential investors and tourists to take their business elsewhere.

With climate events intensifying and the population increasing, pressure on infrastructure is growing and it’s never been more necessary to give these vital services an overhaul. But there is a lot of work to be done, and precious little financial resources available to do it.

Governments employ a number of methods to unlock funding for infrastructure projects as they seek to share the risk and offset its impact on over-stretched budgets. In Saint Lucia, the government has sought to borrow EC$202.5 million from the Bank of Saint Lucia to help fund the US$175 million redevelopment of Hewanorra Airport. For other works it has turned to longtime ally Taiwan, snapping up

ECLAC Executive Secretary Alicia Bárcena presents the Foreign Direct Investment in Latin America and the Caribbean 2019 report. Photo courtesy ECLAC

Taiwanese investments for the St Jude’s Hospital redevelopment, the GINet telecommunications project and a US$42 million road development programme.

Saint Lucia has also made use of grants, taking around US$43 million from the UK Caribbean Infrastructure Fund for road rehabilitation work on the West Coast Road and Millennium Highway.

THE PAY OFF Grants, loans, public-private partnerships — however the work is funded, it needs to make a return on its investment.

According to a recent report from the World Bank, properly managed and designed infrastructure pays for itself, and investing in more resilient power, transportation, water and sanitation and telecommunications services could yield up to US$4.2 trillion over the lifetime of the new infrastructure, with $4 in benefits for every $1 invested. Not only is resilient infrastructure less costly to maintain and repair, it also provides more reliable services which, in turn, ensure continuity in the economy and boost business.

But to truly incorporate resilience, planners need to go back to the basics.

The World Bank advises strict and enforceable regulations relating to construction and procurement, well-drafted systems for operation, maintenance and disaster response, and appropriate financing models for construction and upkeep.

Structuring this financing is key.

Masterplans cost money and often budgets do not allow for large pay-outs in the

preparatory stage. However, a clearly defined risk and resilience analysis can offer significant cost-savings in the long term and generate savings over the life cycle of the initiative.

This is where grants and development assistance can play a role, particularly in the climate action sector where groups are eager to fund climateresilient work. Natural hazards are unavoidable and therefore masterplans must make room for disaster response, including a financial protection strategy.

Post-disaster recovery is usually in the hands of government and therefore the availability of insurance schemes or reserve funds is critical.

The World Bank advises a multi-

When critical services go down, it sends shockwaves through a country’s economy, damaging productivity, bringing supply chains to a halt and suspending business for SMEs who can barely afford to miss a day’s takings

layered risk financing strategy that incorporates emergency aid, insurance of public assets and sovereign reserve funds.

Addressing risk is just one component of making infrastructure an attractive investment. There also needs to be clear communication about those risks. Investors look for transparency, especially in infrastructure projects that are typically large in scale, scope and potential pitfalls. According to World Bank researchers, investors are increasingly interested in ethical enterprises, ie those that display sound Environmental, Social and Governance principles (ESG). Infrastructure projects that have in-built ESG credentials are more likely to attract their interest and satisfy their demand for responsible investing. To help investors identify opportunities and be fully informed, the World Bank is drawing up a resilience rating system.

The system aims to simplify technical jargon into easily-digestible key points that investors can use to decide where to put their money. Projects will be assessed on the basis of whether they’ve taken climate and disaster risks into consideration as well as those that support the resilience of the wider community or country.

ATTRACTING FDI Foreign Direct Investment in the Caribbean topped US$5.6 billion in 2018 and Saint Lucia received US$40 million, according to the Economic Commission for Latin America and the Caribbean. Most of these investors put their money into tourism, manufacturing and natural resources.

If the region is going to shift the cost of infrastructure to private investors, it has to take a proactive approach in proving that it will be worth it. Clear regulation, effective planning and prioritising transparency can help lure in foreign funds. And it shouldn’t be a hard sell; resilient infrastructure projects are a sound investment when they have the right team behind them. Cost-effective and necessary, the Caribbean has no choice but to embrace this new way of planning.

“There is no time to waste,” says World Bank CEO Kristalina Georgieva. “With a rapidly changing climate, and large investments in infrastructure taking place in many countries, business as usual over the next decade would cost US$1 trillion more. By getting it right, however, we can provide the critical infrastructure services that will spur sustained and resilient economic SBW development.”

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AUGUST 24, 2019

CASTRIES MARKET REDEVELOPMENT

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CAN THE CASTRIES MARKET REDEVELOPMENT REALLY DELIVER? Continued from page 1

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or Saint Lucia and its capital, day one of the new market’s operation is rightfully one to look forward to, but between now and then, what do the Castries business community and Saint Lucians in general need to know about the fates and fortunes of other great markets around the world?

PREPARING FOR TRADE The upgraded Castries Market will see major redevelopment across the board, catering to new and existing needs. A major change is simple structurally, but one that will be treasured by vendors; no longer will overhead covers or umbrellas be required as the market space will be protected from the elements.

The market will also deliver new spaces for air-conditioned restaurants, a food court, duty-free shopping boutiques, a viewing tower and an entertainment area.

This is in complement to the craft market and meat and fish depots which make up the traditional heart and soul of the space.

This building is not simply about a new place or trade, or even community use, but instead ties into a broader ambition of Castries City Council and the wider community. As Castries Mayor Peterson Francis said, “A new level of pride needs to be portrayed as the Castries Market Redevelopment Project, which is part of Castries Vision 2030, aims to positively transform the image and business of vending in the city.”

A REBRAND IN THE LAND OF THE RISING SUN The world’s great markets have had an ability to transcend their key attractions.

They’ve even transcended the cities in which they are located, attracting domestic and international visitors alike and promising to provide an experience that is a spectacle and a cultural immersion. This ethos is how the Tsukiji Market in Tokyo, Japan transformed from the first port of call for fresh seafood in the nation’s capital into a tourist destination in its own right.

So popular has the market become that in recent years authorities have had to close off access to the ‘inner market’ where much of the early morning fish buying and selling is done, while also seeking to expand tourism attractions within the outer market to retain tourism numbers and entice new visitors.

Beyond the aforementioned changes, there has been a downside. A relocation of some attractions and a rebrand of Tokyo’s Toyosu Wholesale Market have seen tourism numbers dwindle in 2019. A key attraction is the daily tuna auction where tourists can watch Japanese fisheries sell premium tuna for millions of dollars per fish. It was once so popular that long queues were a constant. But a complicated online booking system was introduced that requires people to book in advance, and it has deterred some visitors. This

The Tsukiji Fish Market is the largest wholesale fish and seafood market in the world, handling more than 2,000 tons of marine products a day. Although the market wasn’t originally intended to be a major tourist attraction when it opened in 1935, Tsukiji now regularly shows up on visitors’ lists of must-see destinations in Tokyo.

Designated as a World Heritage Site by UNESCO in 2001, the main square or Jemaa el-Fnaa has been the beating heart of Marrakech since the Red City was founded over a thousand years ago.

Le Gosier Night Market, Guadeloupe

may seem an incidental change but it has delivered a knock-on effect (granted, in complement to other changes across the market). The space that 10 years ago the Japan Times called ‘too popular to function’ is now a shell of its past. This is chiefly attributed to the new market being seen as a sterile and soul-less design, without the ambiance and charm of its predecessor.

The recent experience of the TsukijiToyosu Wholesale Market is a cautionary

tale for Castries. Yes, Saint Lucia’s capital and Japan’s may have vastly different populations, but any great metropolitan market can suffer a decline if upgrades and additions come at the expense of the original attractions and vibe that drew so many patrons in the first place.

JEMAA EL-FNAA This marketplace in Marrakesh, Morocco is one of the world’s great examples of a market serving as versatile public space.

As the day begins, the square in the city’s historic Medina Quarter is crowded with merchants selling fresh juice, leather goods, clothing and tourist souvenirs.

As the day progresses from morning to afternoon, numerous entertainers begin to make their way into the square. Once the sun begins to set, storytellers, musicians, magicians and other performing artists, who form part of the market’s iconic UNESCO-recognised cultural community, will be hard at work. As they perform, the day traders head home, and the market becomes one of the world’s most amazing outdoor eateries, as hot food stalls fire up frying pans and hot plates, selling fried chicken, calamari and kebabs abundant with signature Moroccan spices.

The many different attractions, employees and patrons that come and go at various hours mean that Jemaa el-Fnaa is a market that constantly changes throughout the day. As a result, the infrastructure of the market is very simple, relying upon the sense of place and ambiance that all the vibrant sights, sounds and smells create to draw and retain a crowd each day.

GUADELOUPE Guadeloupe has grown a strong tourism identity within the region and beyond based on its markets, with multiple sites serving as attractions that complement one another. Sainte-Anne Market is a culinary epicentre with wonderful rum; Pointe-a-Pitre Market is renowned for its spices and shell fish, and Le Gosier Night Market is a haven for crafts and entertainment. Each is fantastic to experience as a standalone, and all sublime when visited back-to-back.

For Saint Lucia the focus right now is on the redevelopment works and the reopening of Castries Market. The experience of Guadeloupe shows that, when done properly, the existence and encouragement of additional markets is not a threat to a city’s mainstay but, over time, can become an asset.

GOING TO MARKET The upgrade of Castries Market’s infrastructure is one that will be outstanding. It is also a project that, in the minds of many, is long overdue. There’s every reason to be optimistic about the future operations of the market but, as the experiences of the aforementioned markets show, the soul of the old market must accompany the upgrades, alongside a readiness to foster and support growth of traders around the community as a whole.

A new identity must also be established with the expanded footprint the market will occupy. Fortunately in this regard the market is one of many projects in Castries earmarked by the government for upgrade and beautification. This should ensure that, over time, the market’s lure will grow as other new attractions arise around it.

CITIZENSHIP BY INVESTMENT

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THE QUEST FOR CONSISTENCY IN CIPs

BY ED KENNEDY, STAR BUSINESSWEEK CORRESPONDENT

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itizenship by Investment Programmes (CIPs) have changed the way we perceive sovereignty. The right to citizenship that was once available only to people who were natively born, with parents who were natively born or after a long period of naturalisation, can now be acquired more rapidly by foreigners who previously had little to no links to a nation.

There are benefits to these new possibilities, but also threats. All can agree that our world is becoming more economically borderless. Advances in digital technology and airline travel shrink distances from one continent to the next and, as a result, nations need to work closer together, not only in matters of economics, but defence and security.

When it comes to CIPs, this is a unique challenge; one that Caribbean countries must consider carefully as they look to a future where CIPs will expand membership of the Caribbean family to people from all over the world.

THE COMMON LINKS Each nation determines its own laws surrounding CIPs, and each has differing requirements, from the amount to be invested in order to obtain a passport, to the time period between application and granting (or not) of citizenship. Yet all nations in the Caribbean and beyond that offer a CIP still have common requirements.

Applicants for CIPs must have no criminal record, and be of good character. They must be able to show a clean and legal source of investment funds (so arriving at an airport with a big bag of cash in-hand won’t do).

They also must make a clear commitment to a government-approved investment like government bonds, a national economic fund or real estate. So simply indicating plans to invest, or showing an interest in

There is no suggestion that any government which operates a CIP is engaging in money laundering. Neither that cryptocurrency is exclusively a technology used for crime. Instead, it’s one largely like any form, where it’s not criminal in its nature but can be used by those with a criminal intent.

Border security today requires discussion about CIP standards in the region. Image: Pixabay

doing so, will not see citizenship granted.

Beyond these common parameters, the variables from one programme to another begin to emerge.

THE PRICE OF ACCESS Some nations, such as the UK, have a much higher barrier to entry. If you’re a high-flying foreigner from outside the European Economic Area (and Switzerland), you can apply for an “Innovator Visa” formerly known as the UK’s Tier 1 Entrepreneur Visa. This would allow you to stay for up to three years once having met the requisite investment threshold, with the ability to become eligible to apply for the right to settle after the third year. This set-up limits many, and discourages many more even if they have the means.

Locally, Dominica, Grenada, and St Kitts and Nevis have all offered (individually) a CIP for under US$200,000. For those who seek dual citizenship or need a new passport without a residency requirement, a CIP among these provides a fast avenue to do so. These more affordable offerings may make the CIP industry a ‘buyer’s market’, but also pose a growing headache for security services in the region and beyond. They also have a bearing on the CIP industry itself.

Antigua and Barbuda has found great popularity in recent years among Canadian tourists, drawing over 23,000 in the first half of 2018 alone, but there is no prospect of two-way traffic. In June 2017 Ottawa announced it was imposing a visa requirement on anyone arriving from Antigua and Barbuda. The Trudeau government thereafter signified in early

2018 that it would consider restoring the visa-free provision for travellers from Antigua and Barbuda, but only if significant “improvements” were made to the country’s CIP. It’s here that the relatively low starting cost of US$100,000 for a passport has proven costly to the nation and its citizenry.

NEIGHBOURHOOD WATCH The manner in which nations with CIPs interact with each other, as well as with those that do not have CIPs, will be an increasingly important security issue in the years ahead. In this environment, governments now have to anticipate threats that arrive on their shores not via landing craft and fighter jets, but via private investment, infrastructure and digital technology. This threat is made all the more pervasive by the reality that individuals and organisations that pose obvious dangers to a country’s security, such as intelligence agents from rival nations, can also operate in the same space as non-state actors like terrorist groups or organised criminal networks.

The recent establishment of the Caribbean Customs Organisation is a fine example of the evolving response to emerging threats. When the Caribbean Customs and Law Enforcement Council (CCLEC), the precursor to the Organisation, was founded in 1989, money laundering was certainly occurring but the means for doing so, compared to the present environment, were far more restrained. As technology has advanced and limitations on currency transfers globally have reduced, laundering has thrived, especially as new threats have

emerged concurrently, such as the ability for CIPs and cryptocurrency to form a dangerous nexus when both are combined in criminal activity.

There is no suggestion that any government which operates a CIP is engaging in money laundering. Neither that cryptocurrency is exclusively a technology used for crime. Instead, it’s one largely like any form, where it’s not criminal in its nature but can be used by those with a criminal intent.

It cannot be overlooked that there is easy access to many CIPs at a time when threats to nation states are growing, and emerging, in devious new ways. The Canada and Antigua and Barbuda episode shows that other nations beyond this region are increasingly ready to assert security around their own borders as international threats grow.

A SECURE CONVERSATION The Caribbean region may appear far safer than many others, and will be so — until it’s not. Easy answers to enhancing the security of CIPs around the region will be elusive.

But the question must now be asked: how can security of CIPs from one nation to the next be enhanced? Could regionwide standards be pursued that maintain individual CIPs but lift their security overall? Yes, nation states remain sovereign, ultimately accountable only to themselves and their people, so such a pursuit would not be easy. But neither is seeing with clear eyes the problem in thinking a region can continue to build its security without bolstering issues related to certain individual CIPs that could pose security risks if pursued with malicious intent.

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AUGUST 24, 2019

MONEY LAUNDERING / COMPANIES OFFICE

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BRUSSELS PLANS TO REVIVE MONEY LAUNDERING BLACKLIST Continued from page 2

The assessment using the new methodology will come with a new result -—Vera Jourova, the EU’s justice commissioner

Washington for being a politically motivated exercise.

Ms Jourova said she was convinced the commission “did right to list Saudi Arabia” but suggested the revamped list would likely name a different group of territories and allow some jurisdictions to be placed on a “grey list” if they co-operate with European recommendations.

“The assessment using the new methodology will come with a new result,” she said. “A problematic aspect [of the first list] was that it was one size fits all but not all states are at comparable levels of risk. So I took all that criticism on board and now the experts are working on how to address this issue.”

Although there are no financial sanctions attached to the blacklist, European banks would have to carry out “enhanced” checks on funds from the named territories by rigorously vetting customers.

The EU has been determined to crack down on illicit cash flows into the bloc after high-profile money-laundering scandals involving Germany’s

Deutsche Bank and Denmark’s Danske.

Ms Jourova said Europe should have its own list of risky territories — independently from FATF — to be “clear on the standards we want to see . . . to protect the European financial system”.

While European capitals would rather Brussels avoided making politically sensitive judgments about the financial systems of non-EU countries, the European Parliament has pushed the commission to expand the blacklist to include Moscow.

MEPs, along with member states, have the power to veto the draft list.

Sven Giegold, a Green MEP, said the new list should not “bow to the political pressure exerted by the member states”.

“Rather than shortening the list, it should be completed by countries such as Russia, Azerbaijan and the United Arab Emirates,” he said. “The EU Commission should also publish its country assessments as soon as possible in order to open an objective and fair expert discussion.”

The Saint Lucia Registry of Companies & Intellectual Property Company Incorporations Name: In Joy Inc.

Name: Smartpark (St. Lucia) Limited

Description: Tourism & events

Description: Automobile parking management

Directors: Lorraine Pouchet, Elton Pouchet

Directors: Sean Steele, Dandy Joseph

Date Incorporated: July 10, 2019

Date Incorporated: July 31, 2019

Chamber: Messrs. Monplaisir & Company

Chamber: Norman Francis Chambers

Name: Ora Inc.

Name: R W Tropical Foods Limited

Description: Property holding

Description: Import and export

Directors: Rohan Jn. Baptiste, Alicia Jn. Baptiste

Directors: Canius Williams

Date Incorporated: July 25, 2019

Date Incorporated: August 2, 2019

Chamber: SEDU

Chamber: Self Incorporation

Name: Digital Divide Inc.

Name: Suarez Entertainment Inc.

Description: Online services

Description: Entertainment/circus

Directors: Jose Lewis

Directors: Ivan Gonzalez

Date Incorporated: July 31, 2019

Date Incorporated: August 2, 2019

Chamber: SEDU

Chamber: Vern Gill Chambers

Name: Healing Foods Inc.

Name: Ultimate Builders- Sam’s Construction Ltd.

Description: Health and wellness

Description: Construction

Directors: Sammantha Leon

Directors: Winston James, Marilyn James

Date Incorporated: July 31, 2019

Date Incorporated: August 2, 2019

Chamber: SEDU

Chamber: SEDU

UNIVERSITY OF THE WEST INDIES

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UWI CELEBRATES 70 YEARS WITH AMBITIOUS PLANS

BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT

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centre of learning, a hub for advocacy, a think tank for policy makers — The University of the West Indies (UWI) celebrated its 70th anniversary last year and in those seven decades has played a central role in the life of the region.

“There is no area of the regional imagination that has not benefitted from our intervention, contribution and future-gazing. Our existence is a reflection of our imagining and there is great pride in this,” said UWI Vice-Chancellor Professor Sir Hilary Beckles.

Marking its milestone anniversary, The UWI has its sights firmly set on the future with a new campus, new facilities and a new Strategic Plan.

EXPANSION & STRATEGY Headquartered in Jamaica, The UWI is the Caribbean’s top ranked university and has produced an impressive alumni that includes government leaders, Nobel Prize winners and Rhodes Scholars. Saint Lucia’s own Nobel Prize-winning poet and playwright Derek Walcott attended, as did former Prime Minister Kenny Anthony.

“The UWI has an exceptional record of producing leaders in the Caribbean and wider world. No other grouping in the Caribbean comprises as many diverse thinkers and technical people, working assiduously on positive action to address the challenges of our island states,” according to the University.

While countless Caribbean students have passed through The UWI’s four campuses (in Jamaica, Trinidad and Tobago, Barbados and online) over the years, the University did not have a direct foothold in the Eastern Caribbean until very recently. Its newest hub, the Five Island Campus in Antigua & Barbuda, will allow The UWI to better serve the approximately 600,000 citizens of the Eastern Caribbean while also deepening links with the OECS. “ The OECS records the lowest rates of youth tertiary education enrollment in the Caribbean, and indeed the hemisphere. This circumstance is

The University of the West Indies joined with public and private partners to launch the Climate Smart Accelerator at its UWI Mona Campus last year. Photo courtesy The University of the West Indies

Vice-Chancellor of The University of the West Indies, Professor Sir Hilary Beckles addresses the media.

Photo courtesy The University of the West Indies

reflected in some of the highest youth unemployment rates in the region,” said Professor Sir Hilary Beckles. “The Five Island Campus will provide a hub to enable the greater participation by The UWI in the development agendas of the OECS.” Extending its influence is part of The UWI’s 2017-2022 Strategic Plan, which focuses on transformation – both social and economic. “The Strategic Plan is more than a framework. It is the core component of a development paradigm that seeks to energise the region and use its reputation as a tool for inspiring,” explained Professor Sir Beckles. “Economic growth and social growth are two sides of the same coin.”

THE NEXT 70 YEARS The UWI was established in 1948 as a subsidiary of the University of London but became wholly independent in 1962.

Since then, the Caribbean has become an entirely different region, moving from colonial outposts to independent states.

“The University was established to serve and lead the development interests of the Caribbean people. A principal remit was to

Current students at first year orientation.

Photo courtesy The University of the West Indies

facilitate the transformative process of detaching the region from the colonial scaffold. Advancing the movement to sovereignty and independence in order to indigenize sustainable nation building was a top priority,” explained the ViceChancellor.

As the geopolitical lines have changed, so too have the challenges. The UWI is continuing its mandate as both activist and advocate with its work around climate concerns, launching the Caribbean Climate-Smart Accelerator last year, contributing to United Nation’s scientific literature on the issue and hosting the first ever meeting of the Commonwealth Climate Resilience Network in July 2019.

According to the University: “Facing the challenge of climate change is imperative, especially in the context of hurricanes and other devastating events that have brought hardship, economic deprivation and even loss of life to so many in the Caribbean region.”

Another imperative for The UWI heading into its next few decades is embracing emerging technology.

The University has partnered with the Global Institute of Software Engineering in China to launch the UWI-China Institute of Information Technology, and is also increasing technological capacity across all campuses.

“Taking responsibility for the technological revolution that features robotics and artificial intelligence is a logical assumption, hence the decisions taken by all campuses to drive the ‘smart’ culture as a private, as well as public, sector experience,” said the Vice-Chancellor. “The digital transformation of The UWI will increase access, service and development in each contributing country and subscribing community.”

As it focuses on better serving the region, The UWI is hoping to unlock more funding through a diversified revenue stream. In 2017 a special task force was convened to examine how to encourage governments to clear their debts to The UWI and sustain the cost-sharing model whereby both students and regional governments contribute. Many governments responded by pledging physical assets such as Grenada’s donation of 90 acres and Jamaica’s commitment to building Technology Parks.

The UWI has also set up a Global Giving scheme to allow alumni, well-wishers and partners to donate online, and is seeking to capitalise on its broad volume of research by building a profitable Innovation and Entrepreneurship ecosystem. The University has fostered many unique innovations over the years, one of the most recent examples being a new fingerprinting technology, and hopes bringing these to market will strengthen its finances.

Money worries aren’t just an internal matter though. The University is very focused on addressing current obstacles in the regional economy.

According to the Vice-Chancellor: “The UWI has its sleeves rolled up and is in the trenches with the entrepreneurial community in the effort to push our economies onto the highway of sustainable SBW economic growth.”

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