Miami, FL, 6 December 2023 — “Telecommunications is a critical driver of economic growth and social development yet outdated regulatory policies and traditional business models have stifled innovation and hindered market expansion.” These remarked were made by Ms. Yaw Ching, CEO of Mission Telecom, a US-based nonprofit telecommunications firm, at the Connected Caribbean Summit in Miami, FL.
Ms. Yaw Ching, a seasoned professional with leadership experience in prominent telecom companies such as Cable & Wireless, Columbus Communications, and BTC Bahamas, delved into the challenges faced by the Caribbean telecommunications sector. She identified regulatory constraints, outdated business models, and limited market growth as significant barriers that have impeded the full potential of the industry.
“It’s time for a paradigm shift to unlock new possibilities and ensure that the benefits of connectivity reach every corner of the Caribbean,” Yaw Ching stated, emphasizing the urgent need for more innovative business models and regulatory policies.
Drawing on her extensive industry experience, in the Caribbean and North America, Yaw Ching proposed forward-looking approaches to address these challenges. She called for a more dynamic and adaptive regulatory framework that encourages innovation and reflects the evolving nature of the telecommunications landscape. She also stressed the public policies that foster competition, incentivize investment, and facilitate the deployment of cutting-edge technologies.
“Regulation should be an enabler, not a bottleneck to business innovation. The regulatory environment should always seek to encourage and empower operators to explore new business models, invest in infrastructure, and deliver innovative services to consumers,” emphasized Ms. Yaw Ching.” By embracing forward-looking regulatory practices, we can create an environment conducive to investment and technological advancement.”
Highlighting Mission Telecom’s unique business model, Ms. Yaw Ching provided insights into how her non-profit foundation employs a dual focus on grant-making and venture philanthropy. She emphasized the potential of such innovative models to address gaps in market coverage, especially in underserved areas.
“Mission Telecom represents a bold experiment in leveraging philanthropy to drive telecommunications development. By combining grant-making with venture philanthropy, we can target investments where they are needed most, catalyzing positive change, and fostering inclusive connectivity,” shared Ms. Yaw Ching.
Ms. Yaw Ching stressed the importance of fostering innovation not only in business models but also in service delivery. She encouraged telecommunications providers to explore creative approaches to expanding market reach, including partnerships, digital inclusion initiatives, and tailored offerings for diverse consumer segments.
Ms. Yaw Ching asserted that “the Caribbean is a diverse and dynamic region, and our telecommunications services should reflect that diversity. By embracing innovative approaches, we can bridge the digital divide, connect communities, and drive economic opportunities for all.”
About Mission Telecom
Mission Telecom is a US-based non-profit foundation with a mission to drive positive change in the telecommunications sector through innovative approaches to grant-making and venture philanthropy. Led by CEO Rhea Yaw Ching, the foundation seeks to expand the reach of telecommunications services, particularly in underserved regions, and foster inclusive connectivity.
ABOUT THE SUMMIT
The Connected Caribbean Summit 2023 is a pivotal annual gathering uniting various sectors to explore and devise strategies for expediting transformative action for Caribbean Development. This unique event unites government, business and justice sector leaders along with other key stakeholders and partners to provide actionable insights for collaborative problem solving and accelerated regional development.
The event was hosted by the Caribbean Agency for Justice Solutions, the Network of Caribbean Chambers of Commerce (CARICHAM), and the Caribbean Telecommunications Union (CTU), in partnership with the American Registry for Internet Numbers (ARIN), the Caribbean Network Operators Group (CaribNOG), and the Organization of Eastern Caribbean States (OECS) Commission and sponsored by the Unit Trust Corporation.
MORE INFO
connectedcaribbean.org
For media inquiries, please contact: Jesse Deane-Smith, Media Coordinator, ccsummit@connectedcaribbean.org