1 week Ago By [email protected] (Vishanna Phagoo)
Kiran Maharaj has completed her two-year term as president of the Trinidad and Tobago Chamber of Industry and Commerce. However, she will remain as the Chamber’s immediate past president temporarily to ensure a smooth transition and knowledge transfer to her successor, Sonji Pierre-Chase. In an interview with Express Business, Maharaj reflected on her time as Chamber head and said she brought to the table “more interconnectedness and interrelatedness with tangible advocacy”.
“The president helps by being the strategic thinker and works with the CEO to ensure there is implementation. I think that what I brought to the table was perhaps more interconnectedness and interrelatedness with tangible advocacy. There are a few things that were initiated during my tenure, such as the National Budget Recommendations Handbook, the MOU with the T&T Stock Exchange; the multimedia version of Contact Magazine; the expansion of SME activities; the Trade and Business Development Alliance and the new tiers of membership for non-national entities,” Maharaj highlighted.
She also highlighted the Champions of Business, which has evolved beyond just being another award show. Maharaj said It now better showcases the business community and the stories behind the people, inspiring others and demonstrating the strength and vitality of T&T. “Our committees are also aligned to the SDG’s (sustainable development goals), and this helps ensure we can clearly see our role with National Policy and Strategy,” she added.
When asked about the challenges she faced during her tenure, Maharaj cited the main difficulty as determining which position to take when confronted with multiple perspectives. “The challenge I faced is what every president faces. How do you take a position when there are so many perspectives, and you have to satisfy so many business sectors? Many times, it was to state both sides and why.
I don’t believe in supporting an opinion without evidence and proper representational feedback. There are times when not saying anything is best because one position is not in the best interest.” Maharaj said during her tenure, she witnessed the post-pandemic recovery environment, which sparked innovation, encouraged young entrepreneurs, and led to more risk-takers.
“I am so happy to say I’ve seen a lot of innovation; young entrepreneurs; more risk-takers. The ecosystem has also developed where financial institutions are trying to better serve this new era of business minds. But we are still not doing enough,” she said.
She added, “There is a gap in the skill sets needed in the workforce. We’ve started the digital transformation process, but we need to do it more quickly because AI (artificial intelligence) is already here, and it will impact a lot of what is around us. I’ve always felt that we are not in an era where the fast eat the slow.
The potential to disrupt is also a good thing, but in T&T, we need to fix many simple processes and procedures that hinder our growth trajectory.” In addition to this, she believes the agriculture and orange economy are untapped. She called for focus to be placed on food security with the help of public-private sector partnerships.
“I wish we could truly give meaningful incentives and create capacity building programmes in an intense way over the next three years to make our agricultural sector one of the wonders of T&T. If as a nation we were more self-dependent and if as a region we were focused on synergies for sustainability, we would be in a better place and we would be a more formidable region,” said Maharaj. As for the orange economy, she said it is full of opportunity, but it needs people who understand the business side so we can harness the potential of the creative sector.
“This service sector can also employ a lot of young people who are not academically inclined. Youth and sports programmes are also an intervention to crime. The local economy is in a delicate and fragile position right now.
The strategies to push us forward will require a very focused and strategic approach where there is predictive modelling with responses for how each situation can play out. This is due to the regional threats of natural disasters, cyberattacks, another pandemic, and geopolitical instability. While this type of planning is typical, it is more significant now as uncertainty is greater.
The theory of ‘polycrisis’ is real,” she stressed. Maharaj called for the private sector to be more organised as a business service online (BSO) community. “In my first year, I held a few meetings with some of the other localised BSOs, and we have the same challenges as a business community.
We need to come together to advocate on the key issues. I am not talking about just ‘talking’. We need to do our homework, document why we are making certain suggestions, show the data, and explain why the policy framework or the existing infrastructure is weak,” she said.
Maharaj added that sometimes, the recommendations may mean a transformation (a life revamp of the public sector), but if the vision can be articulated for the positive consequences of the change, then we will have achieved the objective. “We also need to insist on the adoption of some recommendations. When I look at the work of the former Economic Development Committee, I get depressed.
There was so much work and so many meaningful recommendations which we still talk about today. We should not let it go to waste. All stakeholders need to get on board and stop procrastinating,” she said.
Maharaj also shared her thoughts on the crime situation and said there are a lot of solutions but believes Key Performance Indicators (KPIs) should be implemented. “I think the police service should re-examine what their KPIs are. Also, better training for officers is necessary.
How are officers recruited? “Job creation and employment opportunities; vocational training and apprenticeship programmes to equip people with skills that can make them employable. I know the Government has distributed a lot of grants, but one-off grants cannot support the learning process. It’s worse when a young entrepreneur fails and sees failure as the end of their dream.
There must be more advisory-type services and mentorship. Help them to succeed. Work with them.
Get our NGO’s to help provide support also.” Maharaj added that society also needs to stop making children feel that being an academic success with math or science is the only way you are worthy. “Not every child is academically inclined, and we must do more to harness the talent and skills of young people who want to go into music or do woodwork or plant food.
Invest in urban renewal projects that enhance the living conditions of disadvantaged areas, such as improved lighting, better roads, and community facilities, making these areas safer and more conducive to positive social behaviour. We are not a Patriotic nation, and we need to develop this. Crime cannot be solved overnight, and it means a mental and social shift that will be generational,” she said.
She added that the chamber began discussions about public sector reform, “I think an overhaul is what is needed as well as a renewable energy policy. I hope these will get attention in the coming year.” She also hopes that addresses the ease of doing business.
“The truth is that it is easy to fix, but there has to be the will to get it done. Sometimes, the management of the entities don’t know what is happening on the ground, and I think the information gaps and lack of proper implementation cause frustration for everyone. I also hope we unlock the hidden potential of the sectors where I know we can flourish.
There is so much opportunity. We need to fortify the national business landscape and champion sustainable economic development with a foundation of social cohesiveness. Business is not only about financial success; it’s also about the quality of life we ensure for people,” she said.
Maharaj also offered advice to the incoming president: “Use your in-between moments to think for yourself. The president of the T&T Chamber does not get remunerated, and it is a service to our country’s business community, so we all have our day-to-day jobs. Coupled with this will be meetings with members, government officials, stakeholders of all kinds, new policy documents to review, advocacy matters, etc.
Taking moments of quiet time is key because you have to be comfortable with the opinion you put forward and the perspective of your membership. So, it can get overwhelming if you don’t stay calm. I know Sonji well, and I know she is calm by nature, so she will do exceedingly well.
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