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Commerce: CEDS soon to be released
Commerce Secretary Mark Rabauliman. (Bea Cabrera)
The Department of Commerce is set to release the results of the Comprehensive Economic Development Strategy survey and, with the economic growth and development the CNMI has experienced over the past years, the results are highly anticipated.
The CEDS is a document composed of information gathered from government agencies, private business organizations, and the general public, said Commerce Secretary Mark Rabauliman.
The project, which is funded under a federal grant through the U.S. Department of Commerce’s Economic Development Administration, is overseen by the CNMI Department of Commerce.
According to Rabauliman, CEDS was intended to prioritize development projects, which would yield highest economic value to the community and interpret the unique dynamics of the CNMI.
“It requires organizing the planning of the various regional opportunities, weaknesses, and strengths to the jurisdiction’s economic condition. During the process, developing the ranking of the matrix, which considered the various dynamics, gave importance to the current and future condition of the CNMI economy’s health,” he added.
The approved dynamics used in the survey consisted of several criteria based on public benefit, industry growth, support of new and emerging industry, the strengths, weaknesses, opportunities and threats impact, employment sourcing, economic circulation and environmental impact.
“This study will be released in the coming weeks as we are finalizing the sets of criteria,” Rabauliman added.
