|
|
|
 |
|
|
NAf. 2.1M for macro-economic model and competition authority
by The Daily Herald
Posted: Nov 5, 2009 10:54 UTC
|
PHILIPSBURG - St. Maarten now has NAf. 2.1 million to begin work on a macro-economic model and competition authority, to boost its marketing stimulus programme and upgrading of economic inspection and control units.
The financial agreement was signed by Economic Affairs and Tourism Commissioner Frans Richardson and Netherlands Antilles Development Foundation USONA Director Reginaldo Doran in the Government Administration Building on Tuesday.
These projects are part of preparing St. Maarten for country status that is to take effect on October 10, 2010. The amount released by USONA is only part of the monies available to help the island to set up needed infrastructure on its path to constitutional change. Doran said USONA was happy to assist St. Maarten with these projects that are vital to boosting and better structuring its economy.
Sector Economic Affairs, headed by Director Miguel de Weever, will now identify project leaders from within the sector to guide and develop the projects’ terms of reference. Companies will be invited to submit bids in a public tender for the formation of the macro-economic model and competition authority based on the terms of reference.
For the macro-economic model, some NAf. 600,000 is available. Commissioner Richardson said the model would help to chart the impact of social and economic policies on the economy and to evaluate existing policies and policy measures, to increase the effectiveness and efficiency of government interventions in the economic process as well as provide forecasting.
For the competition authority, some NAf. 250,000 has been set aside.
“In St. Maarten, we have a relatively small scale economy characterised by a limited number of suppliers in several markets. Having a limited number of suppliers of a certain product can negatively impact the price of the product. This would not be in the interest of the consumer,” the commissioner said.
He said the perception also existed that any decreases in the quantity and the quality of products sold and services provided could damage the image of the island as a tourist destination. “So, what this government wants is a transparent and predictable business environment which leads to a ‘level playing field’ with fair competition and possibilities for new entrants to the market,” he said.
The project’s main objective is to improve the investment climate by removing “red tape/government bureaucracy” and ensuring a transparent and predictable business environment. It addresses the entrepreneurial climate as well as the investment climate in St. Maarten.
The simplification of procedures and the coinciding increase in transparency and competition of businesses in St. Maarten is expected to boost the investment climate, enhance consumer protection and improve market efficiency.
The most important results of the project are insight into the social cost and benefits of the development of the introduction of adequate legislation and eventually an independent competition authority with the necessary legislative power.
Some NAf. 300,000 will be used in the merger of the Control, Inspection and Security Department and the Department of Economic Control, and for the training of inspectors/controllers. These two departments are responsible for enforcing rules, regulations and policies. The idea is to merge these departments in the near future into the Inspection Department for Tourism, Economic Affairs and Transport.
The funds will be used to train controllers and to draft, revise or rewrite the policies and relevant legislation.
More than one million guilders has been released for Phase II of the Marketing Stimulus programme. Tuesday’s financial agreement was an addendum to the first financial agreement that was signed on September 1, which focused on marketing activities in the United States. This addendum will focus on the marketing activities in the Canadian and Dutch/Belgium market.
Funds now become available for the development of an advanced interactive media product for the marketing and promotion of St. Maarten, including the creation of a smart-phone Website. “This last project is one of great importance, considering our dependency on tourism as our main economic pillar,” Richardson said
|
|
|
|
|
 |
|
|
|
|
Content © The Daily Herald 2009 - All Rights Reserved.
You may bookmark this web page, print it or e-mail it to
a friend in accordance with the fair-use provisions of
copyright laws. The material is intended solely for the use
of the individual user.
Archiving, redistribution, or republication of this
material
on other terms, in any medium, requires the express
written permission of the author or publication and the
notification of the editors of Caribseek News. |
|
|
|
|
|
|
| |
|
