eso : ESO Strategic Plan Updated and Set for Implementation

ESO Strategic Plan Updated and Set for Implementation

The medium-term strategic plan of the Economics and Statistics Office was recently updated to cover the period 2006-2009.

ESO Strategic Plan Updated and Set for Implementation

// eso (Press Release)
The medium-term strategic plan of the Economics and Statistics Office was recently updated to cover the period 2006-2009.

The Strategic Plan 2006- 2009 was prepared using three key inputs as follows:

Updates as of September 2006 of the relevant sections of ESO’s Strategic Plan for 2003-2006 including the national situation analysis;

The recommendations prepared in 2005 by the Caribbean Technical Assistance Centre (CARTAC) for improving the statistical system of the Cayman Islands. These recommendations were based on an assessment of the existing system as of May 2005 and the results of consultations with key official of the Portfolio of Finance and Economics, the ESO and the Chamber of Commerce of Industry; and

An assessment of ESO’s current accomplishments, strengths, weaknesses, opportunities and threats (SWOT) gathered from ESO’s management and staff as of September 2006.

The Plan is built upon the vision that the ESO, “in partnership with the community, is committed to being a premier centre for economic research and statistics that are responsive to local needs and compliant to international standards.”

The Plan presents detailed strategies for accomplishing three (3) inter-related goals of the ESO for the 2006- 2009 as follows:

Goal 1: Upgrade the scope and quality of national socio-economic information in the Cayman Islands towards international standards.

Goal 2: Boost the internal capacity for socio-economic data compilation and analysis, technical support and assistance.

Goal 3: Facilitate local community ownership of the socio-economic data compilation system.

The Plan shall guide the preparation of ESO budgets and the operational plans of the ESO starting FY 2006/07. It shall be reviewed and updated before the beginning of each fiscal year depending on the outcome or accomplishments during the prior year.

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