Strategic Plan: Ministry of Maritime Affairs, 2019-2023

This report analyzes the strategic plan for the Ministry of Maritime Affairs, International Trade, Investment, and Aviation, focusing on the period from 2019 to 2023. The plan addresses key issues, including the need for a coordinated approach to international trade, investment, and aviation. The strategic plan outlines four primary missions: enhancing the reputation of the Cayman Islands, advancing the economic and political interests of the government, the people, and the business community; making the economy more investor-friendly; and creating a capable and well-funded ministry. The analysis includes a discussion of potential threats and opportunities associated with each mission, along with key actions to ensure successful implementation. The report also references relevant academic sources, such as Beveridge (2017), Taramelli et al. (2015), Gordon (2013), Freyer and Morriss (2013), and Boyle et al. (2016), to support the strategic recommendations and insights.

STARTEGIC PLAN

INTRODUCTION
 Issues regarding financial service and industry.
 Decided to form a Ministry of Maritime Affairs, International Trade and Aviation &
Investment.
 Helpful is gaining foreign investments.
 Helpful in advancing the political as well as economical interest of the public, business
organization and the government.
 This strategic plan has many threats and opportunities.

DISCUSSION
 Four missions are developed and their threats and opportunities are analyzed.
 Key actions will ensure the quality of the performance.
 key actions are also involved like:
 Improving separate organization
 Communicating with investors (Beveridge 2017)
 Improving partnership with private sectors
 Developing management plans
 Creating annual calendar

Mission 1: Enhancing the reputation
Threats
 Less awareness
 Separate agencies
 Threat of small areas
 Change of mind by the stakeholders
Opportunity
 Developing blue-green investment
 Developing annual calendar
 New fund from foreign investment
 Maintain the relationship
 Increasing the reputation
 Knowing the focus

Mission 2: Enhancing the interest of people, government and
business organization upon political and economic interest
Threats
 Other countries may refuse
 Slow improvement of tourism
 Supporting different ministries (Taramelli, Valentini and Sterlacchini 2015)
Opportunities
 Establishing offices
 Cooperation between ministries
 Decision of helping

Mission 3: making the economy friendly
Threats
 Investors are facing issues (Gordon 2013)
 Losing trust of investors
Opportunities
 Maintaining relation will prove growth in economy
 Engaging with those who have investment responsibilities.
 Opening new opportunities (Freyer and Morriss 2013)

Mission 4: Creating as well as sustaining capable, appropriately
funded and effective ministry
Threats
 Staffing is dependent upon reviews
 Constant need of KPI (Boyle et al. 2016)
 Changing the operational plans
 Recognizing the risk of fund
Opportunities
 Offer from ministries for training and development
 Economy strengthen
 Elaborating how the fund was utilized

CONCLUSION
 Decision to form different ministry
 Five year plan
 Good relationship
 Addressing all the threats and utilizing all the opportunities

REFERENCES
 Beveridge, F., 2017. Globalization and international investment. Routledge.
 Boyle, S., Reaiche, C., Abdullah, A. and Murad, W., 2016. Predicting International Visitors'
Interest In Hong Kong Arts Festival. Event Management, 20(4), pp.593-605.
 Freyer, T. and Morriss, A.P., 2013. Creating Cayman as an offshore financial center:
structure & strategy since 1960. Ariz. St. LJ, 45, p.1297.
 Gordon, G.L., 2013. Strategic planning for local government. ICMA Publishing.
 Taramelli, A., Valentini, E. and Sterlacchini, S., 2015. A GIS-based approach for hurricane
hazard and vulnerability assessment in the Cayman Islands. Ocean & Coastal
Management, 108, pp.116-130.

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