Over the past two decades the yachting industry has grown tremendously, and has created a platform for tradesmen to develop businesses and many of them have moved on to become micro-entrepreneurs. Yachting also attracts people from around the globe and encourages cultural exchange and promotion of Trinidad and Tobago. However, there is an urgent need to improve training and entrepreneurship skills in this industry to facilitate further development.
This was one of the major points emphasized by Donald Stollmeyer, Vice-Chairman, YSC, at the consultation. During the session, Mr. Anil Ripla, principal consultant of Ray Consulting Limited, presented his findings based on a Training Needs study carried out by his firm to assess the skills base of the current workforce and ultimately to determine the human resource needs of the industry. This type of data will help the YSC and MTI identify mechanisms to develop human resources for businesses in the industry, which in turn will facilitate growth and long-term sustainability of the sector, eventually increasing its contribution to GDP.
As you may already know, the yachting industry is one of the seven non-energy sectors targeted for strategic development and expansion by MTI in its pursuit of economic diversification. The Training Needs study discussed at the consultation emphasized the need for more training as well as a formal Competence Development System (CDS) to enhance skills in the yachting industry.
The yachting sector falls under the responsibility of the Business Development Directorate of MTI and Savitree Thompson, Industry Assistant, and Videsh Maharaj, Economist I, of MTI are working with Leroy Quildon, Industry Specialist at the BDC to oversee the development and expansion of this industry. As many of you would recall, LaShaun Prescott was the previous Industry Specialist for this sector at MTI.
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