Tuesday June 16th, 2015 was a momentous day for The University of Trinidad and Tobago (UTT), as it launched the UTT School of Business and opened, in collaboration with the Ministry of Tertiary Education and Skills Training (MTEST), the first segment of the two-day Symposium- "The Singapore Experience II- 'Successful Strategies for the Diversification of the Economy using the Singapore Model.'" Both events took place at the UTT Campus at the Southern Academy for the Performing Arts (SAPA) to an audience consisting of captains of industry, board directors, members of the local business community, academic personnel and members of the public.

The need to diversify the economy of Trinidad and Tobago continues to be a topic of much concern and discussion. This is especially so given the recent fall in oil prices, which reminded the nation of the risk incurred as a result of the economy's strong dependence on a single commodity. Several sectors have been highlighted by the government of Trinidad and Tobago as priority areas for growth, including the Maritime, Financial, Tourism and Creative industries, to name a few. Through the UTT School of Business, the University will focus on supporting these promising sectors and on providing the expertise necessary to promote entrepreneurship, commercialise ideas and propel the transformation of the economy.

Senator the Honourable Fazal Karim, Minister of Tertiary Education and Skills Training delivered the Feature Address at the Launch, where he referred to the UTT School of Business as "part of the evolution of the knowledge revolution in tertiary education in the nation of Trinidad and Tobago." Minister Karim noted, "There is no magic formula or recipe for making a world-class university. Transformation cannot occur in isolation but must take place through long-term vision and strategy." He therefore asked that the School of Business be "market relevant", "attract quality national and international faculty" and "create programmes that are responsive to the nation's needs". He urged UTT to have the "confidence to set its own agenda and create its own brand."

UTT's Chairman Mr. Curtis R. Manchoon also spoke, stating, "The UTT School of Business will offer undergraduate degree programmes in core business and management areas so as to equip graduates with the tools to support business and entrepreneurial activities. Postgraduate programmes and related research activities will also be offered and implemented through the establishment of centres of learning within the School."

The opening of the Symposium, The Singapore Experience II was also an exciting occasion, as three (3) academics from Singapore- Professor Chin Tiong Tan, Professor Narayan Pant (via video) and Professor Kulwant Singh were among the much-anticipated speakers for this event. This was the second installation of a well-received conference in 2001 and again saw the Singaporean guests share the principles of success that shaped their nation's remarkable economic ascension, making it the leading Asian hub for innovation, technology and entrepreneurship.