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CANTO 24th Annual Seminar

CANTO 24th Annual Seminar. Enhancing competitiveness in the Caribbean through the harmonization of ICT policies, legislation and regulation Bahamas, July 15, 2008 Richard Fraser Head of Mergers and Acquisitions. Agenda. The wider importance of ICT Realising the “Connected Caribbean” Vision

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CANTO 24th Annual Seminar

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  1. CANTO 24th Annual Seminar Enhancing competitiveness in the Caribbean through the harmonization of ICT policies, legislation and regulation Bahamas, July 15, 2008 Richard Fraser Head of Mergers and Acquisitions

  2. Agenda • The wider importance of ICT • Realising the “Connected Caribbean” Vision • Legal • Technical • Treatment of scarce resources • Conclusions

  3. ICT a key enabler “ The introduction of new and updated technologies increases both physical and economic productivity. Computer technologies impact all aspects of our lives and are critical to the process of development and efficiency in all productive industries and sectors of all societies,” Minister Mullings - President, General Conference CTU April 16 2008

  4. Effects of ICT • Efficiencies are realised through rapid technological progress in the production of ICT goods and services in ICT producing industries. Thus, the ICT sector is a driver of productivity growth for the whole economy. • Investments in ICTsprovide more capital for workers, which raises their productivity. • Greater use of ICTsin all sectors in the economy helps firms to increase their efficiency.

  5. Globally, ICT spending is estimated at US$3 trillion Growing at an average of 8.9% Representing 6.8% of global GDP. ICT growth must be a part of a strategic plan to drive economic stability Essential part of global market participation ICT’s Economic Importance

  6. Realising the “Connected Caribbean” vision Factors to facilitate the widespread deployment of ICT: • Legal • Development of new policies • Dangers of copying the EU model • Cost/benefit assessment • Focus on future, but do not ignore the past • Technical • Neutrality • Management of scarce resources • Spectrum • Numbers

  7. Legal (1) • Policies must facilitate competition and development • Political will is essential • Certain issues of national importance must supersede commercial concerns • Liberalisation is merely the start of the process • Regulation must ensure a level playing field exists • Engagement with industry is key to develop policies that will work • Industry is a resource • Essential to understand commercial reality of policy decisions • Current legislation and approaches often “copied” from EU • Failure to adequately reflect huge differences between Caribbean/European countries • Availability of financial and human resources to replicate European regulatory practices, • e.g. Current focus on cost modelling to assess MTRs • Resource intensive • General under-recovery of costs • Risk of cost misallocation between fixed/mobile • Benefit of benchmarking • Cayman experience

  8. Legal (2) • Cost / benefit analysis essential • Difference in regulatory costs and benefits attributable to each competing regulatory approach • Regulator must also factor in the total cost to the industry • Competition law • Effective competition law and an authority competent to enforce are basic requirements for effective regulation • Jamaican experience: Fair Trading Commission • Important to ensure incumbent operator not permitted to stifle innovation/deployment of new services • Timely intervention by the regulator may be required

  9. Legal (3) • Legal certainty • Operators will only make significant new investment required where regulatory environment is appropriate • Regulatory forbearance for new / emerging services • Essential that new policies do not undermine previous investments • Importance of effective dispute resolution process cannot be underestimated • Judiciary needs to be suitably skilled to deal with ICT matters in a timely manner • Resolve outstanding issues today before seeking to regulate new areas • Physical interconnect

  10. Technical/scarce resources • Technical • Neutrality is essential – regulator should not dictate the technology to be used • e.g. Different technologies can be used to deliver broadband services: xDSL, CATV, WBB • Important regulatory polices do not stifle innovation • Facilitate entrepreneurship and innovation • Management of scarce resources • Spectrum • Digicel supports the Caribbean Spectrum Management Policy • Allocation process which enables operators to offer a commercially viable service – e.g. Jamaica 2.5GHz spectrum • Reasonable spectrum fees – not based on subscriber numbers • Numbers • Need for flexibility in relation to innovative services • Old paradigms of fixed/mobile no longer appropriate

  11. Conclusions • ICT instrumental to economic growth and development • Competitive ICT services will only be deployed if an appropriate framework exists: • Legal • Regulate to ensure a level playing field and avoid regulation of new services • Technical • Regulation must not stifle innovation • Management of scarce resources • Decision makers must adopt a flexible approach to new services

  12. Thank You!

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