Sentences with phrase «economic diversification»
Economic diversification refers to a situation where a country or region tries to have different sources of income or industries instead of relying on just one or a few. It's like having multiple job opportunities instead of depending on only one job for your income. This helps to spread risks, create stable growth, and reduce dependence on a single industry or sector. Full definition
The idea of economic diversification is often positioned as something that's nice in theory, but difficult to achieve in practice.
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Two years later, she became the youngest female cabinet minister in Canadian history, taking on the role of minister of state for Western economic diversification.
He called on government to attach meaningful recognition to the services render by the institution most importantly as the nation is planning for economic diversification.
This has resulted in a shift towards economic diversification and countries in the East African region providing more economic stability than others.
Local economic diversification plans that support decent work and provide community stability in the transition.
Wind energy is a proven, reliable and cost - competitive energy solution that drives economic diversification, environmental sustainability and rate - base value.
Says economic diversification key to addressing falling global oil prices.
Views economic diversification as a key step towards addressing the fall in global oil prices.
It appropriately focuses on private sector led economic diversification, supported by government efforts to strengthen infrastructure and the business environment.
This fact sheet intends to explain how to promote economic diversification and build resilience.
It is a country in dire need of economic diversification and entrepreneurship will be vital to this.
China Goes Global 2009 was produced in part with the support of Western Economic Diversification Canada.
«The level of work and magnitude of investment that we are witnessing here today is a clear demonstration that our policies on economic diversification are attracting the right kind of support and engagement,» he added.
This shows that the government's economic diversification programme is working.»
«This is a viable and sound opportunity for the Saint Regis Mohawk Tribe to enter into the patent, technology, and research sector as part of our overall economic diversification strategy,» the statement read.
Combined with a decrease in personal income tax, a sales tax would lead to increased investment and economic diversification while capturing spending from out - of - province visitors, argued Dylan Jones, president of the Canada West Foundation, a Calgary - based think - tank.
Some provinces, with more economic diversification or a concentration of workers in areas that are not very susceptible to automation, appear to be better situated for technological change than...
Only some Gulf states, like the UAE, have made significant progress at economic diversification and, as a result, are better placed to weather the downturn.
The government is developing a strategic plan to promote clean tech industries as part of its broader economic diversification efforts, as well as to complement the objectives contained in its Climate Leadership Plan.
In 2013, the Mille Lacs Band of Ojibwe took a big step toward economic diversification when it purchased two large hotels in St. Paul, Minnesota: the Crowne Plaza Riverfront and the DoubleTree by Hilton.
«A sustained focus on health and education will build the capacity of the national workforce, bolstering economy - wide competitiveness and facilitating economic diversification beyond the extractive industries,» the World Bank said.
Angolan leaders, for example, talked up economic diversification and even a commitment to industrialization.
He noted that despite the apology of the PDP, Nigerians would still choose the ruling APC over any other political party for steadily steering the country on the path of economic diversification particularly in the area of agriculture.
«Today, we are happy that the Federal Government has made good its promise to construct the road to boost agriculture and economic diversification agenda.
Furthermore, growth of the biotechnology sector will enhance economic diversification and will generate a core of technical expertise, catalyzing the establishment of research parks and more biotechnology companies.
strategic economic diversification in the GCC states and the existing landscape of diversification initiatives in the region and the challenges and opportunities faced in attempting to accomplish the goals set forth;
All four countries underwent a process of economic diversification characterized by a growth in the complexity of the division of labour and in the relative importance of the secondary and tertiary sectors (manufacturing and services).
ECO favours a regional approach in which economic diversification crucial to future prosperity is built on sustainable national and regional energy strategies — where renewable energy progressively takes the lead role in generation.
Workers and communities affected by the move away from fossil fuels should receive transition assistance through worker training programs, economic diversification initiatives, and funding for retiree benefits that may be adversely affected as fossil companies change their business models.
While some major oil - producing nations wisely saved part of their windfall in sovereign wealth funds, the oil price needed to balance their budgets kept creeping up while their long - discussed economic diversification policies did not materialise.
In general, I think the application of CCL shall bring significant advancement to the business environment, as it is expected to enhance clarity and transparency (as it details the procedures and requirements of setting up companies with specific timelines) to improve the ranking of UAE in international doing business reports, and promote the competitiveness of UAE to attract targeted FDI inflows to achieve the desired economic diversification.
In the early 2000s, Lewistown redeveloped its old mills and expanded its business enterprises to regain economic diversification.
With the city's economic diversification across multiple industries, including aerospace, agriculture, medical technology, electronics, international trade, and tourism, RMA's executive hiring professionals in Tampa, FL have a wealth of industries from which to source veteran job seekers who can fulfill your requirements and perform at a high level of success.
«Among various investments, the retail sector is a major contributor to the increased economic diversification regionally.
The publication was supported in part by Western Economic Diversification Canada.
With funding and support from Western Economic Diversification Canada (WD), the National Angel Capital Organization (NACO) has undertaken an initiative aimed at growing and supporting best practices adoption in Angel investor communities in Western Canada.
Tim Cordon, Area Senior Vice President, Middle East, Turkey and Africa, Carlson Rezidor Hotel Group said: «The Kingdom's drive towards economic diversification has seen some recent high - profile announcements with its ambitious vision to create a world - class tourism destination.
«Wind energy has demonstrated that it is a proven, reliable and cost - competitive energy solution that drives economic diversification, environmental sustainability and rate - base value,» adds Hornung.
«As a part of our vision for economic diversification, the Corporate Ventures is charged with identifying new potential investments, as well as looking critically at existing assets to maximize their value and productivity,» Nayquonabe said.
As the present economics of oil — which require a $ 66.70 barrel price to make Saudi crude profitable — continue to work against the world's energy producers, the KSA has turned its focus towards its long - term «Vision 2030» strategy of economic diversification.
A stronger local asset management industry could be an important part of the state's economic diversification, according to panellists at a recent Committee for Economic Development of Australia lunch.
For instance, Western Economic Diversification Canada (WD) offers a microloan program to provide small business loans to small businesses in Vancouver, Victoria, Edmonton, Regina, Saskatoon, and Winnipeg.
Rasaq says Angola must accelerate its economic diversification toward secondary and tertiary production, which has the potential to create a higher number of jobs, unlike the relatively isolated oil sector, which has less integration with other sectors of the economy and concentrates wealth in the hands of a few elites.
But economic diversification is unlikely to happen overnight, as it requires painstaking and consistent investment in other sectors of the economy, including liberalization reforms that will enhance competition, human capital and infrastructure.
As for modernizing urban areas — that will only happen if accompanied by economic diversification.
From the Morneau speech, Ottawa's own list: «Atlantic Canada Opportunities Agency (ACOA), the Economic Development Agency of Canada for the Regions of Quebec (CED), the Canadian Northern Economic Development Agency (CanNor), the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Federal Economic Development Initiative for Northern Ontario (FedNor), and Western Economic Diversification Canada (WD).»
During my time as critic for Western Economic Diversification, I have been a vocal advocate of the conversion of the orphan wells into geothermal producing sites.
The envelope was announced by then - Edmonton MP and Deputy Prime Minister Anne McLellan in a media release from Western Economic Diversification Canada: