Finally, an economic plan
The Issue: The unveiling of an economic plan by the Strategic Economic Development Council.
Our View: It’s a good beginning right in the middle of an economic crisis riddled with uncertainties.
The partnership that was forged more than 18 months ago in what is known as the Strategic Economic Development Council between the public and private sector should have been instituted 22 years ago.
The final plan should have been sanctioned by the legislature to ensure that it is refined and strengthened as time goes on. Legislative sanctioning is important to ascertain that the plan becomes the blue print for growth and development of these isles.
Someone finally decided it was time to put do it down in organized form. It came several weeks after the chief executive signed the Investment Incentive Act of 2000. Here again we see an apparent similar intention but each branch has its own set of plans. It needs to be bridged so that the left hand knows what the right hand is doing. One or the other should be incorporated into a single plan.
It’s a good beginning in the sense that both sides have come to terms on what needs to be done to reboot a crisis ridden local economy. It should grant the players behind it some sensibility to guard the likely slide of the US economy into a recession. Japan is cautious guarding this phenomenon daily in that any major downturn in the US economy could force all that it has gained in economic recovery to slide into the much dreaded recession.
A negative slide in nearby Japan would adversely affect tourism and other economic plans to reboot the local economy. The plan however is a good start so let us join hands and move on. The issue is a bit too critical to slam into our usual forte of disoriented provincialism. It should be viewed with a “Win-Win” attitude where there’s something for everybody! Si Yuus Maase`!
