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12th of December 2017
   
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Sustainable economy

 

In the years ahead Aruba will continue the transition to a sustainable society. Instead of following the course of events with indifference, an inviting perspective is needed, that make people and their organizations turn to take action themselves. The first step is already taken. In our society the discussion on a sustainable organization is launched. The government will provisionally take the lead in developing green initiatives.

In the coming years will be tapped with more emphasis into citizens initiatives. We shall thereby have to arrange policies with a better dosage. It is the task of the responsible minister to determine conditions: organizing participation for energy and sustainability projects, developing arrangements in which costs and benefits can be enjoyed by the citizens, honoring of own initiative; long-term consistency of policy, setting ambitious standards and creating a basis for policy.

The simultaneous confluence of a new emerging economic reality and the stagnation in Aruba’s economic growth, calls for a fundamental rethinking and re-strategizing towards sustainable economic development. This is the time for Aruba to create and make use of new opportunities. However, we must be ready to accept that going back to business as usual may not be possible for everyone. As with all moments of crisis, it serves as an opportunity to evaluate institutions, processes, products and skills. In other words crisis leads to reinvention, re-engineering, rejuvenation and rebirth.

Innovation is now seen as a means of survival and not simply business sophistication. As such, economic innovation is the way to strengthen Aruba’s economic landscape and competitive position within the region by focusing on economic resilience, social equity and ecological responsibility.

Economic Resilience, Ecological Responsibility, Social Equity

Sustainable economic development requires building resilience by means of entrepreneurship, new industry creation (product and market diversification), improved business productivity and new investment opportunities, in addition to sophisticated financial markets and electronic business.

Moreover, sustainable economic development of Aruba needs to consider the limited, finite, and fragile nature of (natural) resources, and assume ecological responsibility through resource-efficiency, renewable energy, green technologies, cultural preservation, and consumer education.

Balancing out economic resilience with ecological responsibility is fundamental to achieving not only sustained quality of life, but equally important, equality, social cohesion and social equity. The latter thus requires an emphasis on corporate social responsibility, ethics and fair practices, gender and inter-generational equity, recognition of consumer rights, advocacy and protection, and the development of workforce agility and a healthy and high-quality labor market.

Consequently, sustainable economic development will require national innovation and the transformation of Aruba’s economy and society in an integrated fashion, involving the economy, tourism, trade, infrastructure, education, labor, health care, the environment, culture, finance and governance.

Dimensions of TransformationA New Aruba for the 21st Century
EconomySmart development focused on knowledge,
Freeinnovation and entrepreneurship
FitSustainable development focused on
Fair
resource-efficiency and green technologies
Shared development focused equality and quality of life
TourismSustainable Tourism focused on eco-savvy innovation and uniquely-competitive products, and premium-quality services
Trade & Markets
Expansion of new markets and trade relationships, by leveraging Aruba’s unique geographic and geopolitical position
InfrastructureA modern and integrated infrastructure for transportation, utilities, and communication
Education
Enhancing the quality, accessibility and attractiveness of higher, professional and adult education, focusing on developing and retaining talent and fostering life-long learning.
Labor
Productivity growth through creating high-quality labor force and knowledge-intensive workforce agility
Health
Enhancing quality of care and cure by prevention, innovation in health care services, and healthy lifestyles
EnvironmentSustainable development by conservation, preservation and innovation of natural habitats, cultural expressions, and (land-/marine) ecological systems
Culture & Society
A thriving artistic society of culture and creative industries
Finance
Macro-economic and fiscal stability by means of a balanced budget, managed government debt, and stable monetary policies.
Governance
Transparency, efficiency and smart regulation in government and in the interactions between government and the private sector