- The Government continues to push the public-private partnership (PPP) agenda, as the country moves towards realizing its National Development Plan.
- The economy must be transformed into one which is private sector led.
- The Government is advancing measures to reform the business environment, and encourage investment.
Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, says the Government continues to push the public-private partnership (PPP) agenda, as the country moves towards realizing its National Development Plan.
He emphasized that if Jamaica is to become a place to live, work, raise families, and do business, as set out in Vision 2030, the economy must be transformed into one which is private sector led.
Speaking at the Private Sector Organisation of Jamaica’s (PSOJ) annual members’ Christmas luncheon, at the Jamaica Pegasus Hotel, on December 11, Mr. Hylton said the PPP is a core strategy for driving investment and economic development.
To this end, he noted that the Government is advancing measures to reform the business environment, and encourage investment. He pointed to legislation, such as the recently passed Security Interest In Personal Property Act, and the Omnibus Incentive Act.
Mr. Hylton said these, and the proposed changes to the Insolvency Act, “underscore government’s commitment to improving the business environment.” Additionally, he said the recently launched Micro, Small and Medium Enterprise (MSME) and Entrepreneurship Policy recognises the pivotal role of MSMEs in driving the expansion of the private sector and in job creation.
The Minister described the new business registration super form, which is to come on stream shortly, as a quantum leap in improving the business environment, and increasing competitiveness.
“This is crucial as the success of new ventures and the ability of new businesses to operate sustainably, depend in large measure, on the competitiveness of the business environment,” he stated.
The super form, which captures data related to the start up of businesses, is a one-stop shop instrument of the Companies Office of Jamaica, and will eliminate the need to visit various agencies to process all the requirements associated with registering a company.
Meanwhile, Minister Hylton argued that when the Logistics Hub comes on stream, the success of the private sector will greatly depend on its ability to leverage economic power by partnering with global businesses and strengthening its ability to penetrate new markets.
He noted also that the sector will be able to grow its market share in existing markets, and adhere to standards, which will facilitate trading on every global platform.
The Minister lauded the PSOJ’s founding members, who were honoured at the luncheon, for having laid a solid foundation for the organization.
“Your vision, strong business acumen, fixity of purpose and commitment to Jamaica has resulted in a dynamic and robust private sector which functions as a key stakeholder in the Jamaican society,” Mr. Hylton said.
Those honoured included: Dr. Keith Amiel, CD; Oliver Clarke, OJ; Anthony Gambrill; Ambassador Anthony Johnson; Godfrey Messado; Gordon Sharpe; Douglas Vaz; Danny Williams; and (deceased) Carlton Alexander; Maurice Facey, OJ; Aaron Matalon; Sam Mahfood; Ronald Sasso, CD; and Vayden McMorris.