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Consolidating the development of the Aruban economy (NISP)

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Slide presentation of the key aspects concerning the economic development section of Aruba's National Integrated Strategic Plan (NISP). Prestented on November 25th @ the Radisson Aruba Resort during ...

Slide presentation of the key aspects concerning the economic development section of Aruba's National Integrated Strategic Plan (NISP). Prestented on November 25th @ the Radisson Aruba Resort during the Action Symposium.

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    Consolidating the development of the Aruban economy (NISP) Consolidating the development of the Aruban economy (NISP) Presentation Transcript

    • National Integrated Strategic Plan
      Action Symposium
      Consolidating the developmentof the Aruban economy
      November 25th, 2009
      Edward Erasmus
    • Content
      Starting point: voices of the community
      Commissions: aspiration quotes & design process
      Focus of strategic economic growth
      Examples of business opportunities
      Roles and actions
      Key elements for sustainable economic growth
    • Voices of the community: economic sustainability statements
      • Economic diversification into high value areas;
      • Sustainable, high value, responsible and balanced tourism;
      • Improved flexibility, efficiency, productivity and equity of markets and economy;
      • Opportunities for new business ventures both within and outside existing industries;
      • Develop a national innovation system through knowledge based capabilities
    • Four commissions (design phase)
      • Socio-economic structures
      • Nation of Innovation
      • International Financial Center (IFC)
      • Sustainable Tourism
      Shared goal: to focus on agendas and opportunities to promote sustainable economic growth and diversification…
    • The Sustainability Challenge….
    • Some aspiration quotes for 2025
      “Increased quality of life based on a balance in the socio-economic sustainability...”
      “Smart people + smart ideas = nation of innovation”
      “The financial sector has become the 2nd largest GDP driver of Aruba…”
      “Un Aruba Dushi Pa Bibata un Aruba Dushi pa Bishita”
    • Socio-economic
      structure
      Nation of Innovation
      International
      Financial
      Center
      Sustainable Tourism
      Commissions
      • Economic productivity
      • Quality of life
      • Spatial planning
      • Financial sustainability
      • Innovative economic environment
      • High-developed human capital
      • Sustainable technology & ICT
      • Sustainable society
      • New economic pillar
      • Advanced infrastructure
      • Highly educated people
      • Excellent int’l network
      • Create vision sustainable tourism
      • Tourism environment
      • Quality physical infrastructure
      • Enriched visitor experience
      • Travel facilities
      • High desirable global brand
      Desired
      outcomes
      • Sustained socio-economic development
      • Developing a nation of innovation = Smart people + Smart ideas
      • Enabling the international financial center
      • Sustainable tourism development
      Strategies
      Increased quality of life
      High productivity
      Innovation-friendly environment
      Aruba
      in 2025
      High-end tourism destination
      Well-developed new economic pillars
      Sustainable society
      (synergy & ‘win win’)
    • Focus of Strategic Economic Growth
      Promoting capital-intensive and technology-driven activities.
      Increase efficiency in the labor force and develop/ attract highly skilled workers in such sectors as services, transshipment and/or assembly of high-value, time sensitive goods.
      New industries should be in harmony with the tourist industry where the quality of the environment and the attractiveness of the island will attract both tourists and visitors to combine business and relaxation when visiting Aruba.
    • Examples of business opportunities
      ARUBA INTERNATIONAL BUSINESS CENTER
      A showcase and commercial center to attract internationally renowned companies to display their products to visitors and business contacts in the region.
      Attracting investors to make use of our financially and fiscally attractive regimes combined with a stable and well functioning legal system and market-oriented regulations
      SUSTAINABLE FOOD SUPPLY PROJECTS
      Agriculture &
      Aquaculture
    • Examples of business opportunities
      RETAIL SOLAR AND WIND ENERGY
      Provision of domestic solar and wind energy solutions
      LEARNING, RESEARCH & DEVELOPMENT FACILITIES
      Multi-functional institutions providing high quality and demand-driven learning, research and development programs to the benefit of the community
    • Roles and Actions
      Government:
      Designs and implements policies and regulations to support business development.
      Promotes dialogue between key stakeholders.
      Executes awareness campaigns and programs.
      Helps create the required resources to support economic growth (human capital, infrastructure, access to technology, etc.)
    • Roles and Actions
      Private sector:
      Driver for innovation.
      Acts as engine of growth, harnessing opportunity to develop product, service and process innovations as well as new industries to fuel economic advancement.
      Provides quality services and activities to further enhance the tourism experience
    • Roles and Actions
      NGO’s/Society as a whole:
      Monitor the vision.
      Encourage entrepreneurial development.
      Test plans and projects for sustainability.
      Can partake in developing and managing economic opportunities.
    • Key elements for sustainable economic growth
      Highly educated workforce
      Spatial planning
      Regulations
      Innovative mindset
      Efficient & non-bureaucratic government
      Foreign Investment Platform
      Awareness programs
      Incentives
      Adequate social safety net
      Sustainable economic growth
      Improved infrastructure
      High level of productivity
      Focus on quality tourism (curbed hotel rooms)
      Technological know-how
      Marketableglobal brand
      Healthy community
      Safe and secure environment
      Excellent international networks/relations
      Tax treaties and TIEA
    • “The real source of wealth and capital in this new era is not material things… it is the human mind, the human spirit, the human imagination, and our faith in the future.”
      - Steve Forbes
    • Final observations
      • The government should introduce policies and regulations to create the environment for tourism and other industries to develop and flourish, however..
      • Entrepreneurs and the business community are the key drivers of innovation and progress.
      • Preparing the next generation of entrepreneurs is a prerequisite for future success
    • THANK YOU
      I wishyou all a productive day