Once we shown we are proper democracy, good governance, strong rule of law for all. We need a regulated economy because we are an emerging region which means in code word, the environment is set up such as good government, rule of law, and the will of the people are respected.
But there is one pit-fall in emerging markets, your supply of un-employed labour exceeds the amount of investors, this can lead to situations of employee abuse, low pay, and slow development path which is why 3rd world countries never rise up above 3rd world, it's mainly due to bad governance, lack of rule of law, and proper democracy that is reflective of their culture not 'western culture'.
A regulated economy ensures worker conditions, human rights, and pay has to be set standard. It's called 'awards' for each industry and sector, if Puntland doesn't review each of it's industries, sectors, and set up 'award' payment, you may not reach your 'economic vision' because businesses in free market pay the least as possible and if they see millions of Puntites unemployed they will pay 2 dollars a day and they don't see a good government to stop them.
This means you never increases your tax collection and will rely on 'aid' while the investor has made a good profit and kept his operation cost low. Has he helped your people? no he hasn't, they only helped their company, your people situation economically stays the same while your government hasn't grown it's taxation revenue. This is very bad deal for the PL people, PL govt, and only benefits the companies only.
That's why you need an economic plan, vision, and implementation plan(time table), you need to know all your sectors in PL. Then you need to know your unemployment rate. U need to then work out how much each one must be paid in each sector because that sector of employees(thousands) have to contribute taxes back to the government so the government can continue delivering it's basic services to the community.
Horta PL waa inay iyagu la timaada inta canshur sanad walbo ka rabta shaqaalo kasto oo shaqo galo. They need to review also how this will stimulate other sectors in the economy when these new workers start to spend money and how it will circulate thru the banking system which is mandatory because you need one point of transaction in the market that can be controlled by the government.
But there is one pit-fall in emerging markets, your supply of un-employed labour exceeds the amount of investors, this can lead to situations of employee abuse, low pay, and slow development path which is why 3rd world countries never rise up above 3rd world, it's mainly due to bad governance, lack of rule of law, and proper democracy that is reflective of their culture not 'western culture'.
A regulated economy ensures worker conditions, human rights, and pay has to be set standard. It's called 'awards' for each industry and sector, if Puntland doesn't review each of it's industries, sectors, and set up 'award' payment, you may not reach your 'economic vision' because businesses in free market pay the least as possible and if they see millions of Puntites unemployed they will pay 2 dollars a day and they don't see a good government to stop them.
This means you never increases your tax collection and will rely on 'aid' while the investor has made a good profit and kept his operation cost low. Has he helped your people? no he hasn't, they only helped their company, your people situation economically stays the same while your government hasn't grown it's taxation revenue. This is very bad deal for the PL people, PL govt, and only benefits the companies only.
That's why you need an economic plan, vision, and implementation plan(time table), you need to know all your sectors in PL. Then you need to know your unemployment rate. U need to then work out how much each one must be paid in each sector because that sector of employees(thousands) have to contribute taxes back to the government so the government can continue delivering it's basic services to the community.
Horta PL waa inay iyagu la timaada inta canshur sanad walbo ka rabta shaqaalo kasto oo shaqo galo. They need to review also how this will stimulate other sectors in the economy when these new workers start to spend money and how it will circulate thru the banking system which is mandatory because you need one point of transaction in the market that can be controlled by the government.
