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Strategic economic plan to be unveiled this month
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Posted on Dec 15 2000
A master plan aimed at developing and diversifying the CNMI economy and increasing government revenue by $200 million between 2001 and 2005 nears completion following a two-day meeting this week of the Strategic Economic Development Council (SEDC).
Over 20 leading members of the public and private sectors gathered for closed-door meetings on Tinian Tuesday and Wednesday to finalize plans to raise visitor arrivals to over 800,000 by 2005.
SEDC strategies include air service, destination improvement, hotel development and intensified marketing of the CNMI. During this week’s meeting, other issues vital to further economic development of the Commonwealth were tackled, including Article XII land alienation rights and availability of labor. Additional elements of the SEDC economic development plan include zoning, investment incentives, and public perspective of tourism and industry jobs.
Following a full year of work, the SEDC will make details of its master plan public for the first time later this month. According to SEDC chairman and DFS Regional president Scott Bowman, the plan aims to guide future economic development in the CNMI to improve the quality of life for citizens and cushion the potential loss of local manufacturing revenues.
