New priorities for economic development

What is the future model for Monaco?

A report has just been published investigating what Monaco has to offer in the way of attracting enterprises and entrepreneurs to develop the Principality's economy. The Minister of State set up a working group, co-ordinated by Andre Garino in May to investigate the economic attractiveness of Monaco. Over 2 months the group met economic, business and social leaders, members of the National Council, representatives of foreign communities, unionists, ambassadors, and participants in the Monaco 2029 task-force (see below). The resulting document highlights 10 priorities, which will be studied by the Government over summer. A plan of action will be established and released to the public after the rentree.

The attractiveness of the service for economic development of the Principality: 10 priority axes [1]

The Monaco 2029 White Paper was presented to the Government at the beginning of December 2009. Put in place by the National Council in April 2009 [2], it was the culmination of 9 months of work by a task-force of economic and financial experts.

As a point of departure, the group used Prince Albert II's investiture speech, followed by a SWOT analysis, and consultation with interested parties [3]. The resulting 50 page document presents 55 project proposals under 6 strategic axes:

• Geographical limitations
• Monegasques (and other residents)
• Attractiveness of the country
• Sovereignty
• Information, governance, efficiency and image
• Economic structure

The report's authors recognize that not all the proposals will be acceptable, but hope that they will foster discussion and new ideas.

Monaco 2029 : 55 proposals for a new development model [4]