St. Maarten to develop 10-year economic plan



THURSDAY, 22 MARCH 2012

PHILIPSBURG--A workshop concerning the Strategic Economic Plan 2012-2022 will take place today, Thursday, March 22. It is an opportunity for the immediate design and execution of a long-term vision and strategic direction dealing with the future and competitive position of Country St. Maarten.

The rationale for the workshop is to bring together key players behind the country's economic and social development and to draft a long-term direction towards common sustainable goals: to create broad support for the future strategic course of the country and to achieve a sustainable increase in the standard of living and prosperity for all citizens of St. Maarten.

The goals should be achieved through education and training, increased employment, increased business activities, growth in foreign investment (capital and skills/knowledge), well-balanced wealth distribution, social cohesiveness and good governance.

In developing the plan, requirements are participation, a "can do" attitude, public-private partnership and private financing. Some performance metrics of best practices from the World Economic Forum will be used during the development of the plan.

The World Economic Forum's Competiveness Report has become over the last three decades one of the world's most respected assessments of national competiveness, providing a mirror image of a nation's economic environment and its ability to achieve sustained levels of prosperity and growth.

"The objective is to produce a strategic economic plan for the next 10 years that would guide our country's economic development. This plan is being produced at a time when the world went through the global financial and economic crisis which was described as the most serious since the Great Depression of October 1929," Meyers said.

"As a people and as a country we must take stock after having gone through constitutional change in 2010 and are currently in the process of building Country St. Maarten. During these periods of progress and positive change, the country has also been confronted with various challenges due to the world crisis. However, we have still been able to present a first balanced country budget in 2011, and will be approving within short the second balanced country budget."

The process of developing the Economic Strategic Plan will be facilitated by KPMG Advisory Services.