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UTT chairman: T&T industries not ready to compete
T&T has a long way to go to before its industries become more competitive said Curtis Manchoon, chairman, University Trinidad and Tobago (UTT). “Two weeks ago I was in London at the London Fashion Week. We took three of our graduates of fashion designs and exposed them and in one of the workshop sessions it became more clear that sometimes the business knowledge that is necessary to compete in a fiercely competitive industry like the fashion industry, we needed to do a lot more.
“We began to talk about negotiating with buyers or designing an award-winning garment, but do we have the manufacturing capabilites to support that industrial cluster?” he asked. Manchoon was speaking yesterday at the launch of a train-the-trainer workshop at the Central Bank, Eric Williams Complex, Port-of-Spain.
The programme, a collaboration between the Central Bank and UTT, will run for seven weeks and will involve more than 300 students. “UTT was established primarily to contribute to the economic development of T&T and so we make a differentiation from the traditional universities being involved in academic studies for the pursuit of pure knowledge to a university which is more aligned to the socio-economic challenges of the society,” Manchoon said.
“We are all aware of the major challenges of crime and economic prosperity. At UTT we have been trying to give light to that mission.” Central Bank Governor Jwala Rambarran said later this year there will be a new financial literacy survey.
“In 2007 the National Financial Literacy Programme (NFLP) conducted a national baseline financial literacy survey and it revealed that many of our citizens have limited knowledge about money management. The survey showed that more than one third of the respondents were classified as having low financial literacy.
“I am pleased to announce that the Bank will be following up with another financial literacy survey in the second quarter of this year. The result of this survey would help the NFLP to better target training interventions including programmes like train the trainer.” Rambarran said entrepreneurship is important in economic development.
“At the bank we believe that development of the entrepreneurial spirit is vital to economic diversification, sustainable job creation and wealth generation,” he said.
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