Minister Hylton Cites Successes in Business Reform

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, says the Ministry had a successful year in 2015, with significant achievements in business reforms, which have facilitated investments and job creation.

“The year ended on a high note for the Ministry because of the major achievements in business reforms,” Minister Hylton said, while addressing a Think Tank at the JIS’ headquarters recently.

He cited the World Bank’s Doing Business Report, where Jamaica jumped seven spots to 64, and was rated among the top 10 most improved economies worldwide in terms of executing reforms.

In the World Economic Forum’s Global Competitiveness Report, Jamaica improved its performance on procedures to starting a business, ranking third globally, and 8^th in the legal rights index.

These accomplishments, the Minister said, serve as confirmation that the Government’s strategies to enhance the business climate are working.

Minister Hylton also highlighted continued support to the Micro, Small and Medium-sized Enterprises (MSMEs) through the Jamaica Business Development Corporation’s (JBDC) Mobile Business Clinic (MBC) initiative.

“So far, the MBC has been to eight parishes providing professional business services and advice to over 1,500 small businesses, listening and diagnosing a range of business concerns and issues for MSMEs,” he said.

Minister Hylton also mentioned that the Ministry has adopted a Small Business Development Entity (SBDE) strategy that is widely used in United States and Latin America.

He said the aim of the SBDE is to build a network to deliver capacity-building and advisory services.