National Development Plan – Vision 2040

06/16/2015

The Government of The Bahamas, in close cooperation with the Inter American Development Bank (IDB), has commenced the process of the development of a long term National Development Plan – Vision 2040.

It is essential that Vision 2040 be created through meaningful dialogue, input and consensus with all segments of Bahamian society to ensure that it is durable and reflects a broad and inclusive vision for the future of The Bahamas.

In justifying the need for a National Development Plan, it was noted that The Bahamas had lacked a comprehensive and publicly discussed long term strategy for the country’s economic development since its independence. It was also noted that while some sectors had medium term strategies, the absence of a national strategy led to an ad hoc prioritization of policies, programmes and investment projects without a clear, long-term roadmap for development. It was further noted that the development of a long-term economic strategy would be integrated into the operational plans of the Government and ultimately guide the budgeting process. Finally, the development of a National Economic Development Plan could address the issues of institutional fragmentation, inefficiencies and inconsistences in both government and foreign investment decisions by providing a framework to identify priority projects.

The methodology to be employed in the development of the National Development Plan envisages a three-phased approach within a nine-month period and the projected completion date is June 2015. The approach includes:

a. PHASE I (October 2014- February 2015) – Creating the evidence base and SWOT analysis to include in-depth situational analysis including Socio-Economic, Physical and Environmental Assessments (SPEA) and Institutional and Governance Assessments (IGA);
b. PHASE II (March 2015 – April 2015) – Vision and strategy formulation through the five interactive workshops with stakeholders on vision, national goals, outcomes, and the monitoring and evaluation mechanisms; and
c. PHASE III (April 2015 – June 2015) – Revising and finalizing the National Development Plan inclusive of comments and feedback from stakeholders.

The Secretariat of the National Development Plan invites all Bahamians to become actively involved in the development of the national development plan. Let your voice be heard!