The CaymanIslands Chamber of Commerce's Wish List
In a proposal titled, 'The State of theEconomy Report' the Cayman Islands Chamber of Commerce has setout a number of suggestions to Government aimed at re-invigoratingthe economy. Here is a summary list of the main proposals.
SHORT TERM PROPOSALS (3 months)
Real Estate/Constructionsector
1. Temporarily lower Stamp dutyon property transfers to 5% across all categories within the nextsix months only.
2. Maintain current level of Planning Fees, but reduce BuildingControl fees by 50% and Infrastructure fees by 70% for new projectsgoing into construction by March 1, 2002.
3. Reduce duties for construction and building materials for sixmonths.
Hospitality sector
4. Appoint a new Director of Tourism and Deputy immediately.
5. Hire a new public relations firm to create a new brand forthe Cayman Islands tourism product.
6. Reduce alcohol costs to consumers.
7. Review the liquor laws with the view to extend the hours ofoperation of bars/restaurants.
8. Solicit private sector input when preparing the 2002 marketingbudget for tourism.
9. Introduce special incentives to tourists who visit the CaymanIslands more than twice per year.
10. Investigate the feasibility and social impact of the casinoindustry.
11. Explore co-marketing options through credit card companiesand Chambers of Commerce.
12. Allow hospitality workers to interchange internally betweenjobs. Allow multi-tasking within a specified range.
13. Introduce mandatory customer service training for hospitalityindustry, Immigration and Customs Departments.
14. Try non-traditional methods of attracting tourists throughincentive group marketing and co-marketing.
15. Extend the runway to allow direct flights from and to Europe/Canada.
16. Implement the recommendations of Strategy13 in the Vision2008.
Cruise Ship industry
17. Provide cruise ship passengers with information to encouragethem to return for a longer onshore vacation.
18. Increase cruise ship head tax for the additional ships approvedto call from Sept. 11, 2001.
19. Allow ships to stay over until 7 or 8 p.m. or later in port.
20. Investigate the possibility of having Caymanians work in thecruise ship industry as the start of a training programme.
21. Place Caymanian greeters at the cruise ship landing to welcomecruise ship passengers.
Government/Public Sector
22. Change direction of public relations strategy that protectsCayman's
financial services sector image and educates the world that thecountry does not harbour money launderers, terrorists and taxcheats.
23. Reduce Governor's, MLA's and Civil service salaries for 6months using a staggered wage reduction system. Higher salarieswould be reduced by greater percentages.
24. Re-deploy staff from departments (Customs, Planning, PWD,etc.) to
assist the Tourism Statistics, Economic / etc. departments.
25. Restructure Cayman Airways to make profitable without subsidyor close operations.
26. Reform Immigration/Customs at the airport by introducing customerservice and improved lines.
27. Continue to explore the pre-clearance of USA authorities here.
28. Remove outgoing Immigration clearance of passengers.
29. Suspend pension contributions partially for 6 months.
30. Suspend any new tax measures.
31. Lower electrical and telecommunications costs to consumers.
32. Require Government to purchase local equipment and services.
MEDIUM TERM PROPOSALS (6-12 months)
1. Support the current civil service reviewcommissioned by the Governor with the view to reducing the costof Government.
2. Privatise sectors of Government that can be carried out bythe private sector to reduce the bottom line costs for its infrastructureand staff.
3. Offer permanent residence to expatriates who have lived inthe Cayman Islands for more than 10 years who have bought realestate over $250,000 or are willing to purchase property worth$250,000 or more within the next six months.
4. Implement Chamber of Commerce Inward Foreign Investment Reportproposals.
5. Establish a public/private sector committee to develop theformat for a
regular statistical report that will measure economic performancein the main industry sectors.
6. Identify parcels of crown land that can be made available tothe private sector, in partnership, for the construction of lowcost housing developments for Caymanians.
7. Simplify the import duty rates for businesses.
LONG TERM PROPOSALS (one-three years)
1. Establish a committee to explore methodsof reducing the cost of airline tickets to the Cayman Islands.
2. Establish a public/private sector initiative to improve theislands'
tourist attractions and to beautify the islands with landscaping,sidewalks
and scenic trails.
3. Review the Statistics Law and the mechanisms Government andthe private sector uses to gather economic statistics.
4. Develop a long-term economic strategy.
5. Identify medium term (high season) and long term (2002-2003/4)strategies to improve our tourism marketing message.
6. Reduce the cost of Government.