The economic development of a country requires many considerations and one of them is the idea for sustainability, which focuses not on immediate benefits but rather a vision for favorable long-term interests.
Which is why, in giving consideration for sustainable development we must remember to work towards projects with long-term visions and funding in ventures for economic benefits in the long run, or in other words, responsible investment.
When we try to answer whether someone has economic vision or not, we also need to ask if we can see and evaluate the long-term economic benefits for a venture.
While this is a crucial skill for businesses and entrepreneurs, the same can be said for key political leaders to have a keen economic sense.
A nation’s economy cannot develop as long as its stakeholders cast nets where fish bubble and look no further than the width of their eyelashes when conducting business. Even worse is a system of bribery and corruption; a further impediment to economic success.
The short-sighted schemes for economic development in the past have resulted in a waste of acres of forests and dissipation of natural resources by businesses, the effects of which is evidently felt by the citizens of today.
People in suburbs and rural settlements now have no where to escape to nor clear fields to take temporary shelter in should an unexpected natural disaster strike. In fact, it has reached a worrying state for the majority of the people living in such townships.
There’s no arguing that having access to basic necessities is important. However, the idea of attaining wealth for the sake of being wealthy can hardly be said to be an economic vision in any sense.
The types of economic plans we ought to welcome are those that visualize future potential hardships and at the same time devise ways to avoid them.
This is why no matter how much domestic and foreign investments are sorely needed for economic development, we need to make sure they are responsible investments for the future as well.
The projects and plans implemented today should have a positive beneficial effect for the next generation to come in the next ten years or so.
This is the proper mature outlook that considers public interest for long-term sustainable economic development.