Health and Education
From The Report: Trinidad & Tobago 2018
View in Online Reader

In a show of commitment to the well-being of citizens, the government allocated TT$6.03bn ($894.4m) to the health sector in the FY 2018 budget, placing it in the top-three publicly funded areas of the economy behind education and national security. While this figure represents a decline from FY 2017, when the allocation was TT$6.25bn ($927m), health funding has risen since 2010.
Meanwhile, the human capital requirements of globalisation and the information age are placing great demands on economic and educational structures in Trinidad and Tobago. The government therefore confirmed its commitment to developing a knowledge-based economy with a TT$7.3bn ($1.1bn) allocation for education and training in the FY 2018 budget, which was the largest of any sector. The contribution of education to GDP in 2017 is estimated at 2.7%, which is marginally higher than the 2016 figure of 2.6%.

This chapter contains an interview with David Dulal-Whiteaway, CEO, Arthur Lok Jack Graduate School of Business.

Articles from this Chapter

Overview

Pursuing resilience: Strategies focus on prevention and early intervention to address unhealthy trends among the population
OBG
plus

In a show of commitment to the well-being of citizens, the government allocated TT$6.03bn ($894.4m) to the health sector in the FY 2018 budget, placing it in the top-three publicly funded areas of the economy behind education and national security. While this figure represents a decline from FY 2017, when the allocation was TT$6.25bn ($927m), health funding has risen since 2010. The sector’s allocation first crossed TT$5bn ($741.6m) in 2013 and $TT6bn ($889.9m) in 2016. Recognising the…

Overview

Promoting pharmaceuticals: As health care provision expands, demand for both local and imported pharmaceutical products is rising
OBG
plus

In recent decades, the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by 2018. Even in the most newly opened markets, drug companies have seen growth: forecasts for Myanmar, for instance, indicate that pharmaceuticals could quickly grow into a $1bn industry. As governments and companies continue to take note of this high-potential sector, both are pursuing development…

Overview

Intelligent investments: Officials encourage specialised training and technology use to cultivate a productive and competitive workforce
OBG
plus

The human capital requirements of globalisation and the information age are placing great demands on economic and educational structures in Trinidad and Tobago. The government therefore confirmed its commitment to developing a knowledge-based economy with a TT$7.3bn ($1.1bn) allocation for education and training in the FY 2018 budget, which was the largest of any sector. The contribution of education to GDP in 2017 is estimated at 2.7%, which is marginally higher than the 2016 figure of 2.6%. Strategy…

Interview

Disruptive innovation: David Dulal-Whiteaway, CEO, Arthur Lok Jack Graduate School of Business, on ensuring the workforce meets market needs
OBG
plus

Interview:David Dulal-Whiteaway What has been the impact of the changes introduced in 2017 under the Government Assistance for Tuition Expenses (GATE) programme? DAVID DULAL-WHITEAWAY: While most of our programmes are GATE approved, meaning that enrolled students can apply for GATE funding if they wish, some specific programmes have not been as well attended in the 2017/18 academic year, largely due to financial concerns from prospective students. The government’s budgetary constraints…

Overview

On the job: Development and promotion of technical and vocational training key to improving employment rates
OBG
plus

Although priorities vary when it comes to economic development, the increasing need for skilled labour is both a cause of and a requirement for accelerated growth across markets. This demand for technical specialists is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas exploration and extraction, and value-add processes for agricultural commodities. Efforts to expand this expertise locally, rather than relying on international organisations or expatriate leadership, have come to the fore in recent years, both as part of individual country schemes and multinational efforts.…

Overview

On the job: Development and promotion of technical and vocational training key to improving employment rates
OBG
plus

Although priorities vary when it comes to economic development, the increasing need for skilled labour is both a cause of and a requirement for accelerated growth across markets. This demand for technical specialists is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas exploration and extraction, and value-add processes for agricultural commodities. Efforts to expand this expertise locally, rather than relying on international organisations or expatriate leadership, have come to the fore in recent years, both as part of individual country schemes and multinational efforts.…