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Development Strategy Assessment of the Eastern Caribbean

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Eastern Caribbean countries enjoy rich natural endowments and have achieved significant economic development. Throughout the last decades, they have also been confronted with a number of rising economic, social and environmental challenges. To help them tackle these, and accelerate their development, the Organisation of Eastern Caribbean States (OECS) and the OECD have jointly designed a regional strategy scorecard, which is at the heart of the Development Strategy Assessment of the Eastern Caribbean.

The scorecard will help policy makers set priorities for the implementation of the OECS Development Strategy. Stronger resilience and capacity are the major guideposts towards both economic growth and social progress. The region can make much more of its green potential, with power generation topping the list. Improving regulation and reducing red tape can foster new, homegrown economic dynamism. Tourism, digital services and the sustainable ocean economy also offer untapped potential. Closing the skills gap, enhancing the quality of education and improving social protection are essential. Finally, as a red thread throughout, deeper regional integration would make it easier for OECS countries to pool resources in a range of areas, radically increasing the region’s potential for efficient governance, and accelerating the development of its human resources.

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Overview

This chapter presents the key findings and recommendations of the Development Strategy Assessment of the Eastern Caribbean. It starts with a brief history of the economic development of the OECS region, describes key trends affecting the member states of the OECS and provides an overview of the OECS Development Strategy. The chapter then presents key strategic priorities for the member states of the OECS. These priorities include investment in renewables, closing the skills gap in the region and enhancing the quality of education, resilience to natural disasters, a sustainable ocean economy hub, digital services, better policy implementation and regional integration.

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