The Tribune

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

PRIME Minister Perry Christie said the country’s economy is set to be revolutionised as a result of the government’s National Development Plan – Vision 2040 – which was launched yesterday.

The Christie administration, in collaboration with the Inter American Development Bank (IDB), developed the long-term plan. It will be executed in three phases within a nine-month period.

Mr Christie spoke about the plan at a press conference at the College of the Bahamas.

“The essential role of any government is to be able to formulate policies appropriate to its needs and values, to put these policies into a plan and to execute such plans as best as its resources would allow,” he said. “This process is multi-dimensional and covers economic, financial, social and security considerations, land use and environmental concerns, among a host of other issues.

“This is a role that is at the core of governance and one that is spread across government, especially given the prominence of collective responsibility that is at the heart of cabinet government in the Bahamas.

“Without question, we can all admit that the Bahamas has been extremely successful as a nation. We have a good quality of life, a high-income level per capita, a stable economy and a strong democracy. Notwithstanding these great accomplishments, I also believe we can be even greater, infinitely more successful, when we strategically plan and co-ordinate with all stakeholders the implementation of those plans.”

Mr Christie said he met the IDB last year, asking for assistance to bring a more structured and institutionalised approach to planning for development.

The conversation, he said, led to a technical co-operation grant to develop an Economic Development and Planning Unit within the Office of the Prime Minister that will oversee the development and execution of a National Economic Development Plan.

The first phase involves creating the evidence base and SWOT (strengths, weakness, opportunities and threats) analysis that will include in-depth situational analysis including socio-economic, physical and environmental assessments and institutional governance assessments. It is expected to last four months, from October 2014 to February 2015.

Another phase, from March to April 2015, will set out the vision and strategy formulation through five interactive workshops with stakeholders on vision, national goals, outcomes and the monitoring of mechanisms

The final phase will bring revisions to the National Development Plan and include comments and feedback from stakeholders. April to June 2015 is the expected time frame for this phase.