Jamaica has Tools to Succeed – PM

Prime Minister, the Most Hon. Andrew Holness, says his Administration has no intention to forever rely on the International Monetary Fund (IMF) to be the inspiration for change, noting that the country has the required tools to succeed.

Mr. Holness, who was giving the keynote address at the Edu-Technical and Vocational Education and Training (TVET) Conference at the Holiday Inn Hotel in Montego Bay, St. James, on December 8, said Jamaica has the social capital and political will to transform its economic fortunes and will be embarking on a road that will inevitably lead to prosperity.

He noted that the Partnership for a Prosperous Jamaica Agreement, which was signed by the social partners on December 7, “will enable us to keep managing, to keep spurring and to keep inspiring the change. Jamaica, I can tell you, is going to change for the better”.

The four-year partnership involving the State, civil society, the private sector and the trade-union movement, is to ensure collaboration in fulfilling the national targets aimed at achieving social and economic progress for the country’s citizens.

Meanwhile, the Prime Minister pointed to the “amazing potential” of the business process outsourcing (BPO) sector. He said BPO could generate up to 300,000 jobs.

He noted, however, that the potential of the sector is being thwarted by the reluctance on the part of local business people to take the risk that comes with the investment.

“We have not really reached out and taken hold of that opportunity. We don’t want to take the risk, everybody preferring to take this wait-and see approach,” the Prime Minister said.

He noted that developments in the BPO sector are being undertaken by overseas investors, who are coming to Jamaica to capitalise on the opportunities.

Mr. Holness said that to take full advantage of all the available opportunities, Government must create the kind of environment that will facilitate investment.

“That is what business is about,” he argued. “The role of Government is to facilitate and to be the market maker. The Development Bank of Jamaica has been doing some work by creating a fund to help mitigate the development risk. The HEART Trust/NTA is also assisting with training. However, more can be done,” he said.

He noted that the Government is about to launch a programme that will provide a pool of trained human-resource personnel for the BPO sector. This will save investors time and money in the recruitment and training of workers.