- The Government will continue to implement measures to improve the ease and speed of doing business in Jamaica.
- Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, said those measures have resulted in Jamaica receiving an improved ranking of seven places in the 2016 Doing Business Report.
- Jamaica was named among the 10 most improved economies for doing business in the world.
The Government will continue to implement measures to improve the ease and speed of doing business in Jamaica.
Speaking at the official launch exposition of C&W Business Jamaica, Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, said those measures have resulted in Jamaica receiving an improved ranking of seven places in the 2016 Doing Business Report.
He also noted, that Jamaica was named among the 10 most improved economies for doing business in the world.
“This improved ranking did not happen by chance. Indeed, it was not by chance that C&W Business sought to expand their operations and increase their investment in Jamaica. These positive movements are the result of the work across Government, coordinated by the National Competitiveness Council,” the Minister said.
The official launch was held at the Jamaica Conference Centre, in downtown Kingston, on November 3.
The movement in Jamaica’s ranking from 71st to 64th is attributed to Jamaica’s implementation of four major reforms over the past year. These are: the introduction of the online system for paying taxes, RAiS; introduction of Employment Tax Credit; increasing the depreciation rate for industrial buildings; and making insolvency proceedings easier by establishing an insolvency office to facilitate general administration.
Jamaica also excelled in the areas of Getting Credit and Starting a Business, where incorporating a business now takes a minimum of three days and two interactions with government agencies. The report also highlighted Jamaica as being one of two countries in the Caribbean that have made tax compliance easier for businesses.
Minister Hylton said the country is poised for a new era, one of increased business confidence, increased jobs, and economic prosperity. “All around us, we have seen investments happening from Seprod, Courts/Unicomer, Kingston Wharves, Lasco Limited, the Spanish Town Freezone, and now, this investment by Cable and Wireless Communications… and even more to come,” he said.
The Minister said these ventures are the result of Government working to facilitate private sector investments, which will ultimately benefit Jamaicans.
He said the roll-out of C&W Business solutions will enhance the productivity and performance of businesses in Jamaica, particularly as it relates to an improved technology enabled landscape.
“As we look towards the build-out of the Logistics Hub, I am pleased that C &W Business is able to bring to bear worldclass expertise, local knowledge, and an upgraded infrastructure, as we strive to advance our place in the global trading system,” the Minister said.
He further argued that as companies seek to outsource their businesses to Jamaica, set up distribution centres, or even assembly lines, they will not be hampered by technological infrastructure.
In the meantime, the Minister welcomed the planned investment of J$7 billion to upgrade the Cable and Wireless infrastructure and the multi-billion dollar call centre that is slated to be opened in January 2016, which is expected to provide 400 jobs for Jamaicans.
He said while he welcomed C&W’s recent acquisition of Columbus Communications, he urged the company to be mindful of the need for increased customer service, benchmarking standards, and quality of services in the marketplace.
The launch of the new business brand, C&W Business Jamaica, completes the merger between Columbus Business Solutions and Cable and Wireless Business Solutions.