Deputy Premier Bryan urges a balanced approach to economic growth

During his Keynote Address at the Chamber of Commerce’s Parliamentary Luncheon, Deputy Premier Kenneth Bryan called for a balanced approach to sustainability, which took every aspect, including a nation’s economy, into account. Bryan assured attendees that, despite recent political changes, both the government and the economy were in a strong and stable position before highlighting some of the challenges that needed to be addressed regarding policy, infrastructure, the economy and the environment.

While rapid population increase helped economic growth, it had caused a strain on infrastructure across the board, resulting in more traffic congestion, longer wait times for healthcare, bigger classes at school, and social stresses.

Resolving these challenges required comprehensive cross-sections involving all public and private sector stakeholders. He said that balancing environmental concerns with economic realities is paramount in areas such as the East-West Arterial extension, beach replenishment, and the possible cruise pier facility.

“As a business community, as a government, and as a people, the number one priority that we have to accomplish is identifying that agreed approach to move forward,” he said. “The goal is to get all stakeholders, including the public and legislators, to look at the ramifications and real-life examples of how an imbalance affects our growth,” he said.

“We are now at a point where we must work together to address the stresses and strains – not just in piecemeal fashion, but through a comprehensive, strategic approach coupled with decisive action.

Bryan said that regarding beach erosion, the government would talk with affected property owners and tourism stakeholders concerning a shared, public-private partnership funding model to pay for the initial replenishment strategy.

Chamber President Joanne Lawson spoke about the Chamber’s 2024 – 2027 Advocacy and Action Plan, which consists of three interconnected pillars: Building a Future-Ready Workforce, Sustaining Economic Success, and Advancing Quality of Life.

The Chamber supported the development of a national human capital plan that clearly understands workforce needs and aligns Cayman’s people with them. “This approach will allow us to equip our children with the skills they need to succeed and ensure that scholarship opportunities reflect industry demands,” she said.

Lawson announced the launch of the Chamber’s new Government Accountability Scorecard, which measures real-life performance with the Government’s stated goals.

During their video presentation, CUC highlighted the opportunities they offer to young Caymanians through scholarship and work placement opportunities.

Shomari Scott, Chief Business Officer at Health City Cayman Islands, outlined the health provider’s achievements and continuing commitment to providing top-level healthcare at an affordable price. He unveiled Health City’s new health insurance company, a response to the rising costs of health insurance coverage from other providers. In contrast, Health City’s treatment costs had remained at the same level for several years.

Chamber CEO Wil Pineau thanked each dignitary for attending, including Hon. Franz Manderson, MBE, Cert. Hon, JP, The Deputy Governor & Head of the Civil Service; Honourable Kenneth Bryan, MP Deputy Premier and Minister for Tourism & Ports, and Social Development & Innovation; Hon. Dwayne Seymour, CCI, JP, MP Minister for Border Control, Labour & Culture, Sustainability & Climate Resiliency, and Wellness; Hon. W. McKeeva Bush, JP, Parliamentary Secretary for Social Development, Innovation, Border Control, Culture, Planning, Housing, Infrastructure, Transport and Development; Hon. Joseph Hew, MP, Leader of the Opposition; Members of Parliament Heather Bodden, Sabrina Turner, Andre Ebanks, Wayne Panton and Roy McTaggart; Kurt Walton, Commissioner of Police.

He also thanked all the sponsors for the event. Diamond Sponsors were CUC, Dart, Flow, and Health City Cayman Islands. “Each of these Chamber member companies has made a significant impact on the success and development of the Cayman Islands. Their dedication to corporate social responsibility is visible through numerous initiatives that positively affect our community,” he said.