UNC: Digital economy to be part of economic diversification

Opposition Leader Kamla Persad-Bissessar said developing the digital economy is part of the UNC’s plan for economic diversification should it win the upcoming general election.

She said the party would increase investment in research and development up to one per cent of GDP; implement a national venture capital fund; invite international investors for a digital innovation plan; implement a national e-payment plan for government services; institute a national digital identification programme; revamp delivery of health and social services using digital tools; and increase research spending.

Persad-Bissessar said other measures to be implemented to improve the economy would be deregulating and simplifying the process for environmental clearing for new businesses; stopping property taxes on plant, equipment, land and buildings of local manufacturing; and pursuing double taxation agreements with South American and West African countries.

She said ease of doing business would be made easier through revamping contract law and mediation, including stronger legislative frameworks; implementing computer technology into school syllabi, implementing ISO standards in utility and other company; and improve infrastructure generally.

The Opposition Leader was speaking during the UNC’s On The Ballot virtual presentation on Thursday evening.