The country’s economy and the well-being of its people are dependent on its natural environment, primarily the ocean. The largest contributors to the economy, tourism and fisheries sectors are highly dependent on the health of the ocean, coral reefs, beaches and marine life. The concept of blue economy takes this reality as the basis for delivering sustainable and inclusive growth.
The decentralization theme focuses on the creation of regional and sub-regional hubs, local governance autonomy and improved connectivity between the islands.
Decentralization is an important part of the government’s policy to achieve equity and sustainability. Effective decentralization has been initiated with local governance reform empowering local councils in terms of fiscal measures and authority and autonomy in devising policies.
Our economic policy framework calls for diversification to build in greater resilience in the economy. Areas for development include transport and maritime services and achieving greater diversification through the development of industrial zones. The development of strategic infrastructure such as airports, port and logistic hubs to boost economic activity and measures to tap into new economic sectors are part of the diversification drive.
Steps are being taken to broaden the economic base through diversification and by providing greater opportunities for youth, through the development of small and medium enterprises.
The country’s economic objectives are being achieved through the establishment of an enhanced pro market environment with multiple vehicles for investment. This includes legislative reform, continuous review and improvement of processes for investors and increasing partnerships for promoting investments and trade.
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