Minister of Finance and Planning, Hon. Peter Phillips, says the country has made tremendous strides under the Economic Reform Programme (ERP) resulting in a more investor-friendly business environment and continued economic growth. “The successful performance under the economic programme has led to a sharp increase in investor and consumer confidence, facilitated improvement in the ratings by the international rating agencies,...

A Memorandum of Understanding (MOU) has been signed between the Jamaica Customs Agency (JCA) and three private sector companies. The MOU, which was signed on March 11, states the obligations of these companies designated Authorized Economic Operators (AEO) to meet certain compliance and security requirements under the AEO programme and for the JCA to guarantee certain service level standards and...

Governments across the region have expressed an interest in getting guidance from Jamaica in setting up bodies similar to the Economic Programme Oversight Committee (EPOC), to monitor economic reform measures in their own countries. Financial Secretary in the Ministry of Finance and Planning, Devon Rowe, made the disclosure, while addressing Tuesday’s (March 10) weekly St. Andrew Rotary Club luncheon at the...

The Office of Utilities Regulation (OUR) has embarked on a series of island-wide consultations, aimed at building awareness about the work of the agency in ensuring quality service from utility companies and other service providers. The year-long outreach series dubbed ‘Parish Connections’ is targeted at consumers in under-served rural parishes. It involves partnership with the Consumer Advisory Committee on Utilities,...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says the relationship with Japan has been dynamic, and one that is cherished. “This dynamic relationship was at the centre of the numerous meetings that Prime Minister Portia Simpson Miller attended during her visit to Japan in November 2013. This kind of deep relationship is not one that happens overnight,...

The Government has received approximately $8.6 billion (US$75 million) in loan support from the World Bank to bolster the ongoing programme of economic growth and development for Jamaica. The provision, under the First Competitiveness and Fiscal Management Policy Loan Project, will support structural reforms designed to enhance Jamaica’s competitiveness, thereby improving the investment climate. It is part of a larger...

The Jamaica Mortgage Bank (JMB) has launched a technical support services product that will assist financial institutions to make more informed decisions about construction financing. Speaking at the product launch recently, in Kingston, JMB’s Director of Business Operations, Hecton Hemans, said that after assessing the number of default loans on its books, the bank decided to set up a technical...