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Story Highlights

  • Prime Minister, the Most Hon. Andrew Holness, says his administration will maintain the format of joint oversight of Jamaica’s economic programme.
  • The Prime Minister was delivering his inaugural address, following his swearing in at King’s House, on March 3.
  • The Prime Minister said Jamaica’s development, going forward, rests on its ability to create “propositions of value,” and attract investments to convert the value into wealth.

Prime Minister, the Most Hon. Andrew Holness, says his administration will maintain the format of joint oversight of Jamaica’s economic programme.

This, he says, is in recognition of the “challenges we face regarding our debt and the need to maintain fiscal discipline.”

The Prime Minister was delivering his inaugural address, following his swearing in at King’s House, on  March 3.

Mr. Holness said his administration recognises the importance of, and values the  relationship with the various bilateral and multilateral institutions and organizations with which Jamaica is currently engaged.

“These relationships have been critical in securing stability. We believe in preserving stability…but we must now build on this in a productive partnership with them to achieve inclusive growth and job creation,” the Prime Minister emphasised.

Meanwhile, Mr. Holness said he is heartened by the private sector’s response to the new administration’s proposed forging of partnerships for growth and job creation.

The Prime Minister  said Jamaica’s development, going forward,  rests on its ability to create “propositions of value,” and attract investments to convert the value into wealth.

He argued that within this context, the private sector, whether large enterprises or small businesses, was the main investor.

The Government’s role within this economic partnership, the Prime Minister outlined, is ensuring the rule of law; creating a safe, secure and fair environment for business; creating markets where none exist; ensuring transparency and access to information; and creating an efficient and supportive public sector.

“In exchange, we want the private sector to unleash investments in the local economy. We want to see the return of the pioneering drive to create new industries, the entrepreneurial willingness to take risk, and the innovative insight to do things better and differently,” Mr. Holness said.