Latest update April 20th, 2026 4:49 AM
Latest News
- Gas-to-Energy contractor sourcing materials, services at inflated costs from shell companies
- Guyana paid US$264.6M in debt servicing for 2025
- Iran vows retaliation after U.S. seizes ship near Strait of Hormuz
- Fire leaves family homeless after morning prayer
- Man kills drinking buddy in scuffle over $1000
The Hinrich Report is a great framework to help structure our future National Development Strategy
Dear Editor,
The recently released Hinrich Report which is titled the Sustainable Trade Index (STI) 2025 provides key considerations for the government as it updates our national development strategy.
Where we position ourselves in the world of global trade is a decision that must be made within the context of our current alliances, our current capabilities, our current stage of development, and our future national interests. STI 2025 provides 3 models where tradeoffs occur along key dimensions to help determine where a country currently sits, thus providing the insight necessary to structure policies in support of strategies to shift to the desired trajectory for national development. The three models provided are the following:
- Efficiency vs. Autonomy
- Short-term profitability vs. Long-term social cohesion
- Climate ambition vs. Development sovereignty
According to the report some STI economies, “prioritize robust infrastructure and open markets, while others focus on strengthening labor protections, addressing income inequality, or investing in environmental safeguards”. (Reference: Hinrichfoundation.com)
Based on the current situation within our country CRG suggests that as a nation we pursue a strategy that will take us towards an economy that initially accomplishes the following:
Progressiveness and protection (High liberalization, High tariffs). Although an open system is maintained key sectors are protected so businesses have an opportunity to become more competitive while also providing workers with job security during their transition out of poverty. The U.S. falls within this quadrant.
Balances growth (High social cohesion, High profitability). Currently we are experiencing low social cohesion and high profitability. This is widening the gap between the haves and have nots. We must do a better job at preventing wealth from being accumulated amongst a few well-connected individuals and ensure that opportunities for financial gain are better distributed. The local content laws are a great step in this direction, but we also must support this with supplier development initiatives. Singapore falls within this quadrant.
Remains focused on becoming a sustainable green economy where our use of renewables surpasses the use of climate damaging energy sources, and our economic development enhances the environmental contribution we make to reducing greenhouse gases. This means better managing our oil production rates and increasing our investments in renewable energy technologies. It is also an opportunity to ensure that we pursue natural resource use that minimizes the negative impact on the environment.
It should be noted that the United Kingdom has topped the STI this year. Although our nation is not within the 30 countries on the list there is a lot we can learn to avoid and do to help accelerate our country’s development to 2nd and 1st world levels in a variety of areas. Hopefully, this will help start the conversation for the development of the country’s new five-year strategy and the associated resource allocation process.
Best regards,
Jamil Changlee
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
