Gov’t Working to Improve Competitiveness Ranking

Minister of Industry, Investment and Commerce (MIIC), Hon. Anthony Hylton, says the Government is working to improve the country's global competitiveness, by addressing significant hindrances to doing business and securing investments in the country.

He said that through the National Competitiveness Council (NCC), the Ministry will target areas in the business environment that are critical to improving the country’s global competitiveness rankings.

The Minister was addressing members of the diplomatic corps during a forum held at the Courtleigh Hotel, New Kingston on February 1 as part of activities for Diplomatic Week 2012.

Established in 2010, the NCC brings the systems pertaining to national competitiveness under one umbrella. It seeks to implement cross-functional and multi-agency strategies to address the impediments associated with establishing and operating a business in Jamaica, and drive the creation and maintenance of a policy environment that facilitates continued improvements in the productivity and innovativeness of Jamaican micro, small and medium enterprises (MSMEs).

Minister Hylton said that even though Jamaica has lost ground in its business and economic competitiveness as evidenced by the recent rankings by global business and economic reports, theGovernment is committed to tackling major impediments to doing business and attracting investments in Jamaica.

“We (the Government) take the results of the Global Competitiveness Report 2011-2012and the Doing Business Reportvery seriously.  These reports are quite instructive. They highlight critical areas of the economic and business environment that we ignore to our peril,” he said.

He said that “through these reports, my attention was drawn to some of the areas that should be considered priority and the challenges that must be embraced in order to strengthen competitiveness and foster an environment that supports business investments."

Minister Hylton said that in order to develop a globally competitive platform for business and industry in the country, the Government will establish policies and programmes that are critical to fostering an environment that will stimulate industrial and commercial development.

“The MIIC is formulating realistic policies and undertaking innovative programmes that enable investors to take advantage of business opportunities.  These opportunities, in turn, are designed to drive the development of the country’s industrial and commercial sectors,” he said.

The Minister said these policies are aimed at creating an environment that enhances the global competitiveness of domestic-based companies by addressing specific areas of weaknesses in the economy, adding that the Government is focused on addressing the challenges of starting, operating and sustaining new ventures.

“We will create the environment that is necessary for investments to occur, and are important for business vehicles to operate successfully.  Essentially, the strategic focus of the Ministry will be on restructuring and rationalising its operations to deliver the solutions that businesses seek,” he stated.

Approximately 63 resident and non-resident Ambassadors and High Commissioners and Charge d'affaires are participating in the 14th annual Diplomatic Week which runs from Sunday, January 29 to Friday, February 3.

By Alecia Smith-Edwards, JIS Reporter