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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 the Action Symposium.

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Consolidating the development of the Aruban economy (NISP)

  1. 1. National Integrated Strategic Plan<br />Action Symposium<br />Consolidating the developmentof the Aruban economy<br />November 25th, 2009<br />Edward Erasmus<br />
  2. 2. Content<br />Starting point: voices of the community<br />Commissions: aspiration quotes & design process<br />Focus of strategic economic growth<br />Examples of business opportunities<br />Roles and actions<br />Key elements for sustainable economic growth<br />
  3. 3. Voices of the community: economic sustainability statements<br /><ul><li>Economic diversification into high value areas;
  4. 4. Sustainable, high value, responsible and balanced tourism;
  5. 5. Improved flexibility, efficiency, productivity and equity of markets and economy;
  6. 6. Opportunities for new business ventures both within and outside existing industries;
  7. 7. Develop a national innovation system through knowledge based capabilities</li></li></ul><li>Four commissions (design phase)<br /><ul><li>Socio-economic structures
  8. 8. Nation of Innovation
  9. 9. International Financial Center (IFC)
  10. 10. Sustainable Tourism</li></ul>Shared goal: to focus on agendas and opportunities to promote sustainable economic growth and diversification…<br />
  11. 11. The Sustainability Challenge….<br />
  12. 12. Some aspiration quotes for 2025<br />“Increased quality of life based on a balance in the socio-economic sustainability...”<br />“Smart people + smart ideas = nation of innovation”<br />“The financial sector has become the 2nd largest GDP driver of Aruba…”<br />“Un Aruba Dushi Pa Bibata un Aruba Dushi pa Bishita”<br />
  13. 13. Socio-economic<br />structure<br />Nation of Innovation<br />International<br />Financial<br />Center<br />Sustainable Tourism<br />Commissions<br /><ul><li>Economic productivity
  14. 14. Quality of life
  15. 15. Spatial planning
  16. 16. Financial sustainability
  17. 17. Innovative economic environment
  18. 18. High-developed human capital
  19. 19. Sustainable technology & ICT
  20. 20. Sustainable society
  21. 21. New economic pillar
  22. 22. Advanced infrastructure
  23. 23. Highly educated people
  24. 24. Excellent int’l network
  25. 25. Create vision sustainable tourism
  26. 26. Tourism environment
  27. 27. Quality physical infrastructure
  28. 28. Enriched visitor experience
  29. 29. Travel facilities
  30. 30. High desirable global brand</li></ul>Desired<br />outcomes<br /><ul><li>Sustained socio-economic development
  31. 31. Developing a nation of innovation = Smart people + Smart ideas
  32. 32. Enabling the international financial center
  33. 33. Sustainable tourism development</li></ul>Strategies<br />Increased quality of life<br />High productivity<br />Innovation-friendly environment<br />Aruba<br />in 2025<br />High-end tourism destination<br />Well-developed new economic pillars<br />Sustainable society<br />(synergy & ‘win win’)<br />
  34. 34. Focus of Strategic Economic Growth<br />Promoting capital-intensive and technology-driven activities.<br />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. <br />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.<br />
  35. 35. Examples of business opportunities<br />ARUBA INTERNATIONAL BUSINESS CENTER<br />A showcase and commercial center to attract internationally renowned companies to display their products to visitors and business contacts in the region. <br />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<br />SUSTAINABLE FOOD SUPPLY PROJECTS<br />Agriculture &<br />Aquaculture<br />
  36. 36. Examples of business opportunities<br />RETAIL SOLAR AND WIND ENERGY<br />Provision of domestic solar and wind energy solutions<br />LEARNING, RESEARCH & DEVELOPMENT FACILITIES<br />Multi-functional institutions providing high quality and demand-driven learning, research and development programs to the benefit of the community<br />
  37. 37. Roles and Actions<br />Government:<br />Designs and implements policies and regulations to support business development.<br />Promotes dialogue between key stakeholders.<br />Executes awareness campaigns and programs.<br />Helps create the required resources to support economic growth (human capital, infrastructure, access to technology, etc.)<br />
  38. 38. Roles and Actions<br />Private sector:<br />Driver for innovation.<br />Acts as engine of growth, harnessing opportunity to develop product, service and process innovations as well as new industries to fuel economic advancement.<br />Provides quality services and activities to further enhance the tourism experience<br />
  39. 39. Roles and Actions<br />NGO’s/Society as a whole:<br />Monitor the vision.<br />Encourage entrepreneurial development.<br />Test plans and projects for sustainability.<br />Can partake in developing and managing economic opportunities.<br />
  40. 40. Key elements for sustainable economic growth<br />Highly educated workforce<br />Spatial planning<br />Regulations<br />Innovative mindset<br />Efficient & non-bureaucratic government<br />Foreign Investment Platform<br />Awareness programs<br />Incentives<br />Adequate social safety net<br />Sustainable economic growth<br />Improved infrastructure<br />High level of productivity<br />Focus on quality tourism (curbed hotel rooms)<br />Technological know-how<br />Marketableglobal brand<br />Healthy community<br />Safe and secure environment<br />Excellent international networks/relations<br />Tax treaties and TIEA<br />
  41. 41. “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.”<br /> - Steve Forbes<br />
  42. 42.
  43. 43. Final observations<br /><ul><li>The government should introduce policies and regulations to create the environment for tourism and other industries to develop and flourish, however..
  44. 44. Entrepreneurs and the business community are the key drivers of innovation and progress.
  45. 45. Preparing the next generation of entrepreneurs is a prerequisite for future success</li></li></ul><li>THANK YOU<br />I wishyou all a productive day<br />