The Department of Economic Development is urging Island businesses and organisations to contribute to the “Vision 2020” initiative by responding to an online questionnaire, if they have not done so already.
 
‘Vision 2020’ will be critical to the Government’s strategy for growing the economy and will help to shape the future of the Isle of Man.
 
The online questionnaire, which has already generated hundreds of responses, can be found at www.whereyoucan.im/vision2020.
 
In announcing the launch of ‘Vision 2020’ in June, Chief Minister Allan Bell MHK called on the Island’s business community to take an active role in helping Government plan for the economic future of the Isle of Man. He commented:
 
‘The Isle of Man operates in a fast-moving, competitive global environment.  It is vital that we have a clear vision of where our future economic growth will come from and how this is going to be achieved.
 
‘Working together, we will identify opportunities and what steps need to be taken for the Island to succeed in the future.
 
‘We will be looking at all elements including legislation and regulation, tax policy, infrastructure, workforce skills and Government’s capabilities.
 
‘To maximise the Island’s economic potential, this significant piece of work should lead to decisions on strategy and the development of associated action plans.’
 
Businesses based in the Isle of Man are being asked to participate by taking part in an online questionnaire. Additional input has been gathered from the private sector through professional trade associations and the Isle of Man’s Chamber of Commerce. A series of workshops are also currently underway with representatives of the Island’s various economic sectors.

‘Vision 2020’ follows on from the Economy 2014 Project, which was initiated in 2004. It considered what the public and private sector should do to help grow and diversify the Island’s economy for the decade that followed.

The resulting report, ‘Creating a can-do economy’, proved to be highly influential and has been largely accurate in terms of the state and nature of the current economy.

The Department of Economic Development will be coordinating the work of ‘Vision 2020’, drawing on the expertise of the Island’s private sector and the experience of other areas of Government.