Government has obtained Parliamentary approval to borrow in excess of EC $77 million for the development of the digital economy in Dominica.
The funding is part of a regional project with the OECS which is provided through an agreement with the International Development Association (a member of the World Bank Group).
Minister for Public Works and the Digital Economy, Senator Cassanni Laville, presented the resolution at the Fourth Meeting of the First Session of the Tenth Parliament on Monday.
Digital Economy refers to an economy that is based on digital computing technologies, although people increasingly perceive this as conducting business through markets based on the internet and the World Wide Web.
Laville said the government has articulated its vision of becoming the world’s first climate resilient country and has identified the digital economy as one of several key building blocks in becoming a dynamic Dominica.
“Investing in the digital economy will modernize the economy, increase productivity, enhance efficiency and improve the ease of doing business index through the use of modern technologies across all spheres of the public and private sectors,” he said.
According to Laville, by creating a more deeply integrated and dynamic digital economy, digitally empowered citizens, businesses and institutions, Dominica will chart a new path.
“This new thrust will provide the opportunity to build a future in which seamless and efficient public services are available at the touch of a screen from even the most remote locations, where individuals are equipped with the technology and soft skills to find meaningful employment in the knowledge and services driven global economy,” he stated.
The Minister said the government has determined that the lack of digitization of the economy has increased its vulnerability to endogenous shocks such as this one emanating from the Covid-19 pandemic.
“These shocks limit continuity of operations of the public and private sectors,” Laville stated. “And in the case of the pandemic, limits the ability for individuals to abide to social distancing rules and conduct daily transaction in a contactless manner”
Just curious, from whom this money is being borrowed. Some food for thought. We’re at a stage right now on this planet where we enjoy so much convenience and comfort but when I look around I see poverty is on the rise, there are wars, diseases on the rise, high blood pressure, diabetes, substance abuse, mental issues, COVID-19, and cancer, with all this convenience and comfort are we better off as human beings, and who really benefits from all this. What about the divine latent qualities in us that needs attention and discovery. We spend more time with an external gadget than with our internal self, it’s as if the internal self does not exist, it is crying for our attention.
I’m not against New Technology, especially if it means the enhancement of our lives, what I’m seeing right now tells another story, such technology needs massive regulation, ethical management, and should not be in the hands of a few to carry out nefarious activities of manipulation and control of humanity.
DNO this is biased and unprofessional reporting. Not once did you mention that the source of funding is the World Bank and a regional project with other OECS countries. You have persons who do not do their research talking about China, CBI and MMC . Very poor reporting or just dishonest looking to stir up people.
For persons who like to run and comment, it would have been better for you to do a simple search or better yet listened to Parliament on Monday to know something instead of jumping to conclusions.
Additionally, it is all of us utilizing a digital platforms like Facebook to express ourselves. How about monetizing these digital platforms? All sectors of our economies are affected by digital environments, hence the need now to create the enabling environment (laws, policies, regulations, opportunities, etc.).
https://projects.worldbank.org/…/project-detail/p171528
ADMIN: Thank you for giving us your feedback.
This was an oversight on our part and providing those details definitely makes for a more complete story.
The article has been updated.
Digital economy is a longtail…Firstly our Banking E-commerce framework in Dominica has to change to unlock any financial growth potential. ( example:E-wallet, easy of buying selling product in DA online)
LOW HANGING FRUIT:
1. Have the GOVT branded/marketed Dominica as BPO destination for doing Business in the 21st century in the Caribbean?…….JOBSssssss
2. Have the GOVT developed the capacity by training our people for hybrid-Digital economy,……..created a ready to go sector to attract BPO by investing in a building with diversified network connectivity via the two local operators with negotiated lower electricity cost from Domlec?
Note: BPO: Business Processing Outsourcing… They support INTL services example: Telecom billing, Medical billing, accounting services, outbound sales, technical support..etc
Begging and borrowing has become habitual with the Skerrit-led DLP regime. It has trickled down to a large percentage of the population. Mendicancy is now very prevalent throughout the country. Too many people are embracing the culture of begging which is practised by the ruling party.
If the CBI funds were well managed, there will be no need to put the people in this unfathomable indebtedness. The country’s debt is the responsibility of every citizen of Dominica. Just imagine this, even your child and grandchild yet unborn owe money to local and foreign countries, institutions and organizations. SAD!
way mama. Y’all really bent on finishing our country. it’s not that a digital economy isn’t a good idea, but we barely have a solid physical economy as is, but we’re jumping to a digital economy. Unless dca doesn’t provide for itself, we’ll always be looking for alternative ways to create an economy. learn to be self sustainable. then venture out into the unknown.
Will we be able then, at a touch of a button, to access the CBI accounts or Skerrits expense account. No? Forget it then, just more BS from the dictator. Nothing but…
@Vere Tere ,” Will we be able then ” what the hell you on about you want some English lessons, while you at it try accessing Lennox Linton, account you would be surprised to learn your man is a a flawed and corrupt person put that in your pipe and smoke it off!!!!!
This young man Mr Laville, is a well educated brilliant man in waiting to be one day prime minister of DOMINICA, I may not be there with you but please give him a chance, I have never met him but he has true ambition and respect from many best of luck in the future!!!
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I don’t think so because he bet on the wrong horse!!!
@RandyX, If he did why is it he is where he is and you are a lump of wood to the fire? 🔥
Same thing all you had cry for Skerrit wi. Same exact thing. I dont think so brother. ID sooner vote for Kent Vidal.
Who are we going to borrow this money from? I thought the economy was financially sound and growing steadily. also have the financial institutions on board with all of this since many only insist on having one ATM to their name. Businesses still only deal in cash. Not even a charge or debit card machine. In many other countries i pay for everything with my phone which is linked to my bank account, so i just tap my phone on the scanner whenever i need to pay, either that or just order anything online and have it delivered. That is a real digital economy. I should be able to purchase and sell stocks online easily without having to ensure i have a US account. Or at least be able to be out of Dominica and purchase local Dominican items from the plethora of local suppliers that we have today. Instead of sending the money for a relative to buy for me to then bring it to post office to ship it for me.
Brother you must understand our people so poor most of them don’t have a bank account, they don’t qualify to have one. Ready cash they must collect from Cambio Man or Western Union that their people overseas send them. R
You dont have to tell me. Lines of people waiting to receive money from relatives every month. Many of the people in the line have jobs but still not able to make ends meet. What im referring to is a cashless (paper money) economy. one where you do not need to carry cash around with you. So even if its 20 dollars you have left to your name until the end of the month, it is accessible digitally, instead of having to worry about physical paper money. All vendors will be able to automatically debit your charge account through your mobile device. So after you come out cambio man, or maybe right at cambio, you transfer the funds to your digital account which is like a top up. and accessible through your phone. I agree we brokes in Dominica, yes. i agree, but that is a different topic. What i am talking about is commercial transactions digitally. whether is hot dog you selling, or appliances or vehicles you buying. like a cashapp basically.
@ Bring back the kidnapped parrots
Your questions are all pertinent. Unfortunately though, you will never get answers to these probing questions from this nocturnal regime.
All the tenets of Good Governance are fronted on by this shadowy plutocracy. The masses has to use their collective voices combined with relentless pressure and demand transparency, accountability and forthrightness.
In any country where there is no transparency as is the obvious case in Dominica CORRUPTION flourishes.
Hang on a minute, whom they borrowing that money from and at what rate. Not Fromm MMC I hope that would be like a mortgage on our future. The idea to develop our IT is good but this borrowing thing troubles me deeply. Why we need to borrow again when Roosevelt Skerrit says Dominica is a $1.5 billion economy. We already have a recent rloan of 250 million with the Crapaud bank at 4% that is looking good on the balance sheet but not so good when the lender defaults. Yes, that’s what I’m worried about, our bank going bankrupt while Skerrit keeps money offshore to be ready for his retirement in Dubai, especially if he lose the next election, which I believe is eminent. He’ll be ok when the rest of us will be sucking salt.
If a fraction of that amount was spent on bona fide training for skills we’d be getting somewhere.
So who are we borrowing the money from? Is Dominica going to borrow the money from Prime minister Roosevelt Skerrit? Or, will we be borrowing the money from companies that he might have interest in like MMC or the Dlp? After listening to the debate yesterday, especially the questions asked by Hon Linton to PM Skerrit and Health minister Mcintyre, it is clear to me that the name of our new bank seems to be MMC bank but what is not clear is, where is the MMC getting it’s money from and for that I call on the Attorney General to conduct an independent inquiry as to who is MMC & where MMC is getting its money from
The billions accumulated in the CBI coffers, spent wisely, should keep us away from lending institutions. This $77 million from the IMF is yet another backbreaking burden that the desperately poor taxpayers have to repay.
The Skerrit-led regime is a borrow, tax and spend Administration. This $77 000 000 will disappear in thin air. When asked to account for this sum of money, the leader and his undisciplined disciples, will give a Dolly House response as they have done with the money that was collected to construct the international airport.
One of the promises given by God to a blessed nation is this:
“For the LORD thy God blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee.”Deut:15:6
It’s ok to borrow at times but when a person or country depends on borrow to survive, you know that person or country is a slave to it’s creditor and that is the opposite of a blessed country or person. We might as well write on everything we have in Dominica NOT MINE; IT WAS BORROWED. So far we see it on the China hospital where Skerrit was forced to put “China” on the hospital and we see how we have become slaves of China.
How do they plan to pay back this “borrowed” money with interest and who will be controlling the expenditures of this money and doing the auditing of the books? Will a board of Trustees be appointed to keep an eye on the money.
$66.6 million you need to bring your people
closer to the mark of the beast