THE subject seizing the attention of most leaders of governments today is quest for economic growth. The state of the large economies of our region and the world at large are outside of our control.
So despite the fact that the growth rate of those economies have an affect on our growth rate, we can't do anything about this situation.
Therefore we must concentrate our attention on those factors that are within our control. Some of these contributing factors to the level of economic activity are easier to improve than others.
I will attempt to review the more important factors that contribute to the level of growth and therefore prosperity.
Improving the standard of education. This is a longer term job but must start now.
Control of crime. This task is most urgent.
Red tape. Eliminating this is simple and within our control. The slow and discretionary nature of issuing business licenses and granting other approvals for investment projects is recognized by most well thinking persons as retarding economic growth.
High cost of energy. We have to reduce the cost of electricity as well as improve the reliability of our service. This needs to be tackled with urgency.
These are not the only components making up the economic environment, however should we be able to move forward on these four fronts the rewards for our people will surely follow.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment
Or login with:
OpenID